SEEC Media down in revenues, but up in profits

Hong Kong, 31st March: Last week, SEEC Media, a Chinese B2B media group, released its financial results for the year ended 31st December 2024. Total revenues in the year were US$3.9 million, a decrease of 21% year-on-year. However, the company narrowed its loss from US$4.8 million in 2023, down to US$3.7 million in 2024.

About 67% of SEEC’s revenues were generated from its advertising services income, amounting to US$2.6 million. This segment dropped 24% year-on-year. The remaining revenues were generated from its Interest income from loan receivables, at US$1.3 million, which posted a decline of 14% from the previous year.

The company attributed the decrease in revenues to the negative impact on global economy caused by the trade war between the U.S. and China, and also the rapid development of the Internet economy in China over the past few years.