HC International’s revenues up 188%

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Beijing, 28th August: Earlier this week, Hong Kong-listed HC International reported its interim results for the six months ended 30th June. The company’s revenues jumped 188% in the period, reaching US$198 million. Profit in the first half was US$16 million which represents an increase of 270%. Diluted earnings per share were RMB 0.1039 (US$0.015).

 

HC International’s largest business, its B2B trading platform, generated revenues of US$69 million. That represents about 35% of total revenues. The online services segment was the second largest business generating 33% of revenues (US$64 million). The remaining revenues were from its O2O business exhibition centre (US$44 million), seminars & other events (US$12 million), anti-counterfeiting products & services (US$7.1 million), financing services (US$1.5 million) and trade catalogues & yellow pages (US$195,000).

SEEC Media records large loss

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Hong Kong, 31st August: Hong Kong-listed media company, the SEEC Media Group, announced its financial results for the first half of 2017. Revenues were US$17 million, which represents year-on-year growth of 31%. However, the company recorded a loss of US$26 million, compared with a loss of just US$2.5 million in the same period last year.

 

SEEC’s advertising services generated revenues of US$13 million, which is about 77% of the total. Revenue from advertising services increased 13% year-on-year. SEEC’s second largest business segment, securities broking services jumped 479% to US$2.3 million. The remaining revenues were generated from the sale of books & magazines (US$752,000), money lending (US$498,000) and finally, provision of e-commerce services generated US$347,000.

Alibaba’s profit jumps 96%

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Hangzhou, 17th August: Last week, China’s largest e-commerce company, the Alibaba Group, announced its results for the quarter ended 30th June 2017. The company recorded revenues of US$7.4 billion, up 56% over same period last year. Net income jumped 96% year-on-year, reaching US$2.1 billion. Diluted earnings per share in the quarter were RMB 5.65 (US$0.83).

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Chinese Regulator launches probe into news services

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U.S., 11th August: It is being reported that earlier this year, the Cyberspace Administration of China (CAC) released the new regulations imposing more limitations on the news produced and distributed by online platforms. Earlier this month, the Beijing and Guangdong branches of CAC began investigating reports of news content featuring “violence, pornography and rumours disruptive to the social order.”

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HKCEC hosted 8 new exhibitions in FY2016/17

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Hong Kong, 8th August: In the previous financial year, the Hong Kong Convention and Exhibition Centre (HKCEC) announced that it hosted a total of 1,102 events, including 116 exhibitions, 104 conferences and hundreds of corporate meetings, banquets and entertainment events. HKCEC’s fiscal year ran from July 2016 to June 2017. Over 5.7 million visitors attended these events. Eight new exhibitions and 36 new conferences were held at HKCEC during the fiscal year.

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