HC Group’s revenues fall modestly in FY2020

Hong Kong, 25th March: Last week, the HC Group, an online B2B information services provider in China, reported total revenues of US$2.2 billion for the year ended 31st December 2020. That represents a slight decrease of just 1.5% year-on-year. The company also recorded a net loss of US$134 million in 2020, compared with a loss of US$66 million in 2019.

More than 90% of HC’s revenues were generated from its smart industries segment, amounting to US$2.02 billion. That figure is very similar to that of the previous year. The remaining revenues were generated from its “technology-driven new retail segment” (US$157 million) and HC’s platform & corporate services segment (US$52 million).