SEEC’s posts large loss in FY2020

Hong Kong, 31st March: Last week, SEEC Media, a Chinese B2B media group, released its financial results for the year ended 31st December 2020. Total revenues in the year were US$10.3 million, a decrease of 8.1% year-on-year. In addition, the company posted a loss of US$18 million in 2020, compared with a loss of US$13 million recorded in the previous year.

More than half of SEEC’s revenues were generated from its advertising services & sales of books & magazines (US$5.5 million), which is similar to the result in the previous year. Its next largest business segment, the money lending business, generated revenues of US$2.02 million. This accounted for about 20% of SEEC Media’s total revenues and posted an increase of 4.4% year-on-year.