SEEC Media posts larger loss

Hong Kong, 30th August:  Last month, SEEC Media Group, a Hong Kong-listed media company, announced its financial results for the first half of 2024. Revenues in the six-month period were US$1.96 million, a decrease of 30% year-on-year. The company recorded a loss of US$3.3 million in the first half of 2024, compared with a loss of US$1.1 million in the same period of last year.

About 47% of SEEC’s total revenues were generated through its provision of advertising services, amounting to US$919,000. This segment fell 21% year-on-year. Management stated that drop was due to the expiry of some exclusive advertising contracts and weakness in the print media advertising business in China.