Hong Kong, 12th May: Last week, Hong Kong-listed Sino Splendid (formerly China.com) released its results for the quarter ended 31st March 2023. Total revenues dropped 49% year-on-year, down to just US$1.2 million in the quarter. However, the company narrowed its net loss from US$2.7 million in the first quarter of 2022, down to US$585,000 in the first quarter of 2023.

More than 88% of Sino Splendid’s revenues were generated from its financial magazine and other media businesses, amounting to just over US$1 million. This represents year-on-year decrease of 41%. The remaining revenues were generated from Sino Splendid’s travel media business (US$102,000) and its money lending business (US$35,000).