Hong Kong, 24th March: Last week, the HC Group, an online B2B information services provider in China, reported total revenues of US$2.4 billion for the year ended 31st December 2022. This represents a decrease of about 3% year-on-year. The company did manage to reduce its net loss from US$101 million in 2021 to US$33 million in 2022.

According to HC Group, the decrease in revenues was mainly attributable to weak performance in the chemical, electronics, and garment segments. There was also a write-off of goodwill and other intangible assets in its technology retail business.