CCID Consulting’s revenues down 19% in FY2020

Beijing, 23rd March: Earlier this week, CCID Consulting, a research and information service provider in China, announced its financial results for the year 2020. Revenues dropped 19% year-on-year, down to US$32 million. The company posted a profit of US$4.1 million in 2020, down 61% from the figure in 2019.

Almost half of CCID’s revenues were generated from its management & strategy consultancy services, amounting to US$16 million. This represents a decrease of 24% year-on-year. The second largest business segment was its information engineering supervision services, which generated revenues of US$12 million. This business accounts for 36% of total revenues and posted a drop of 15%. A bright spot was market consultancy services, which increased 24% in 2020, generating US$4.1 million and accounting for 12% of total revenues.