DLG’s revenues dropped 69% in FY2021

Shanghai, 9th April: Last week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the year ended 31st December 2021. Revenues in the year were US$145 million. This represents a year-on-year decrease of 69%. Net profits fell 13% year-on-year, down to US$19 million. Diluted earnings per share in 2021 were RMB 0.224 (US$0.035).

In 2021, DLG held 12 physical exhibitions resulting in gross space sold of nearly 600,000 m2. The events attracted some 500,000 visitors. In the second half of 2021, exhibitions were postponed or cancelled due to COVID restrictions. In the beginning of 2022, COVID infections in China began to rapidly increase which severely impacted DLG’s exhibition business. Management expects the pandemic to have a large adverse impact on the company’s financial results in 2022.