News this week: Hong Kong-listed HC International has released its results for the year ended 31st December 2010. Revenues were US$59 million, an increase of 23% compared with results in 2009. Net income for the year was US$1.3 million, an increase of 76% over 2009.
The Beijing-based company’s online services, its largest business segment, generated US$25 million or 42% of total revenues representing 31% year-on-year growth. The trade catalogues and yellow page directories business generated revenues of US$15 million or 26% of the total. That figure is a decrease of 12% compared to 2009.
HC’s domestically-focused online sourcing platform, Mai-Mai-Tong, reportedly has a base of about 12 million registered users as of 31st December 2010. That is a year-on-year increase of 20%, up from 10 million in 2009.
Source: HC announcement
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