CCID Consulting records drop in revenues and net profit

Beijing, 13th November: Last week, CCID Consulting, an IT research and information service provider based in China and listed in Hong Kong, released its financial results for the nine months ended 30th September 2020. Revenues for the period were US$14.2 million. This represents a 27% year-on-year decrease. Net profit in the first nine months of the year dropped 96%, down to US$120,000. Earnings per share in the period were RMB 0.0049 (US$0.0007).

The Beijing-based company attributed the decrease in revenues and profit to quarantine measures adopted in some cities in China due to the outbreak of the COVID-19 virus in the first half of the year. According to the company, it has resumed its business and accelerated its business expansion as at the date of the financial report.