RX acquires energy conferences

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London, 8th May: RX Global, a leading international exhibition organiser, announced this week that it has acquired Sustainable Energy Conferences Limited (SEC), the owner and organiser of the World Hydrogen Summit, Hydrogen Americas, Hydrogen Asia-Pacific and the Sustainable Energy Council brand. The financial details of the acquisition were not disclosed. After the acquisition, the SEC team will join RX.

SEC is focused on the green energy, low carbon sector covering everything from production to transmission to distribution and storage of hydrogen.

Informa’s positive market update

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London, 8th May: Earlier this week, London listed Informa PLC released its latest trading update, key appointments as well as progress on its TechTarget integration.

According to the company, all of its business segments are performing to the upper end market guidance on revenues, adjusted operating profit and free cash flow. During the first four months of the year, the revenue growth across its B2B Markets (Informa Markets, Informa Connect and Informa Tech) and Academic Markets are performing well.

Netsun’s revenues up, but profits down in FY2023

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Hangzhou, 27th April: Shenzhen-listed Zhejiang Netsun announced its results for the year ended 31st December 2023, with revenues of US$61 million. This represents modest year-on-year growth of 2.1%. Netsun’s exhibition service revenues were the key growth driver.

Net profits, however, dropped 16% year-on-year, down to US$2.7 million. The decrease in profit was mainly due to rising costs. Diluted earnings per share in 2023 were RMB 0.08 (US$0.011).

Arinex buys business events agency

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Australia, 9th May: Australasian event management company, Arinex, expanded its New Zealand footprint by acquiring Auaha, a New Zealand-based business events agency. Auaha is a New Zealand business events agency and PCO. The acquisition will enable Arinex to expand its market presence and to the New Zealand MICE industry.

Nicole Walker, CEO of Arinex, commented, “This acquisition aligns with our dedication to driving innovation and delivering exceptional value to our clients. By integrating the expertise, Māori cultural competency and insights of Auaha, Arinex aims to deliver an enhanced value proposition and unparalleled event management solutions to its clients across Australasia.”

Quick takes

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DLG’s revenues jump 229% in Q1

Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its results for the quarter ended 31st March 2024, with revenues of US$24 million. This represents a year-on-year increase of 229%. The company posted a loss of US$752,000.

Canton Fair’s visitor profile is changing

A record 246,000 international visitors attended the Canton Fair. That is up 25% compared to the 2023 autumn edition. Two thirds of the visitors were from countries that support China’s Belt and Road programme. Just 50,000 were from the U.S. and Europe.

Alibaba’s new CEO has a new plan

The Economist has an interesting take on Alibaba’s future. Former CEO’s Daniel Zhang’s plan to break-up the giant was aimed at pleasing regulators. Eddie Wu, new CEO, company co-founder and one Jack Ma’s closest lieutenants, is pulling it all back together to compete with PDD, JD.com, Shien and Temu.

Hong Kong says good-bye to a venue

Despite its name, the Kowloon Bay International Trade and Exhibition Centre (KITEC) was more of a small concert venue. After 28 years, KITEC will be redeveloped as an office building. The SCMP sums it up.