Shanghai, 30th July: Last week, Shenzhen-listed, exhibition organiser, Meorient released its results for the six months ended 30th June 2020. The group’s revenues in the first half of 2020 were just US$2.6 million – representing a massive 89% decline compared with the same period last year. The Hangzhou-based company posted a loss of US$7.6 million in the six-month period, compared with a net profit of US$2.3 million in the first six month of 2019.

As a result of the global pandemic, Meorient postponed its exhibitions in Turkey, Poland, Mexico, and Nigeria in April, May and June resulting in the steep decline in its revenues in the first half. In the same period, the company also reported a substantial increase in its expenses as the group aims to develop “online exhibitions.”