HC Group’s revenue up 40%, but posts large loss in 2019

Hong Kong, 17th April: Last week, the HC Group, an online B2B information services provider in China, reported total revenue of US$2.1 billion for the year ended 31st December 2019. That represents an increase of 40% year-on-year. The revenue growth was mainly from HC’s smart industries segment – its well-established B2B trading platform.

However, the company posted a loss of US$54 million in 2019, compared with a profit of US$39 million in the previous year. The loss was attributed to an increase in cost of sales and an impairment loss on goodwill and intangible assets.