Sino Splendid’s revenues drop 62% in FY2020

Hong Kong, 29th March: Earlier this week, Hong Kong-listed Sino Splendid (formerly China.com) announced its full year results for the year ended 31st December 2020. The company reported revenues of US$5.3 million, a decrease of 62% year-on-year. The company also posted a loss of US$3 million in 2020, compared with a loss of US$342,000 in the previous year.

More than half of Sino Splendid’s revenues were generated from its travel media business, amounting to US$2.9 million. That figure represents a year-on-year decline of 71%. Its second largest business, a financial magazine business, dropped 38% down to US$2.2 million. This business accounts for about 42% of Sino Splendid’s total revenues. The remaining revenues were generated from interest income (US$195,000) and its new virtual reality business (US$34,000).