SEEC Media Group
SEEC Media Group is an investment holding company. The Company's subsidiaries are engaged in the provision of advertising agency services, and distribution of book and magazines in the People's Republic of China. As of 31 December 2007, the Company held 11 advertising rights of magazines in China.
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SEEC records growth for Caijing sales but sees tough year ahead
SEEC Media Group saw its turnover increase 65 percent last year to HK$307.2m as it saw continued strong growth from Caijing magazine and acquired the advertising rights to two new magazines.
However, revenue in real estate advertsising was seriously affected by the cooling measures implemented by the central government last year. This year the company expects the advertising revenues to further contract.
In 2008, the company acquired advertising rights to China Auto Pictorial and the Chinese version of Time Out. The revenues made up for the lessened real estate sales, however the cost of sales went up 151 percent for promotion and distribution expenses, putting the company slightly in loss for 2008.
