Profile of SEEC Media Group

Company background

SEEC Media Group Limited (SEEC) is a Hong Kong-listed company which provides commercial services including advertising sales and distribution to 11 leading publications in mainland China including Caijing, CapitalWeek, New Real Estate and Marketing China. The company also has agreements in place with several major foreign publishers giving SEEC advertising and distribution rights to Chinese editions of well-known titles such as Sport Illustrated, PC Magazine, CIO Insight and Better Homes and Gardens.

The company's name is derived from the governing body of China's securities markets with which SEEC maintains a very close working relationship. The body, the Stock Exchange Executive Council (SEEC), is also the official publisher of Caijing magazine. First published in 1998, Caijing is SEEC's flagship title and it is generally regarded as a leading Chinese-language business magazine. The magazine has a circulation of over 220,000. Caijing provides articles, analysis and commentary on economic, financial and general business events in China.

In November 2002, SEEC acquired Caixun Advertising Group which the company developed into its principal business - providing print advertising agency services in mainland China. SEEC maintains the exclusive right to sell advertising in its portfolio of largely print-based magazines.

SEEC is not officially responsible for the editorial operations of any of these titles. This is an important distinction that has long been required by the regulatory environment in China. Regulations prevent foreign companies from owning magazine titles and also prevent publicly-traded companies from including editorial operations in the listed vehicle. As a result, companies such as SEEC include advertising and distribution operations only in the listed company.

In 2007, SEEC Media recorded revenues of US$24 million and a net income of US$800,000. In early July, SEEC's market capitalization was approximately US$94 million. The company employs 478 staff in its offices in Hong Kong and mainland China. SEEC Media was listed on the Hong Kong Stock Exchange through a reverse merger.