Hong Kong, 25th March: Last week, the HC Group, an online B2B information services provider in China, reported total revenues of US$2.7 billion for the year ended 31st December 2021. This represents an increase of 20% year-on-year. The company reduced its net loss from US$134 million in 2020 to US$101 million in 2021.

More than 93% of HC’s revenues were generated from its smart industries segment, amounting to US$2.5 billion (representing a year-on-year increase of 22%). The remaining revenues were generated from its “technology-driven new retail segment” (US$168 million) and HC’s platform & corporate services segment (US$17 million). The technology-driven new retail segment increased by 4.9%, while the platform & corporate services segment recorded a decrease of 43%.