823 events held at HKCEC in FY2023/24

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Hong Kong, 27th August: During the fiscal year 2023-2024 (from July 2023 to June 2024), the Hong Kong Convention and Exhibition Centre (HKCEC) hosted a total of 823 events, welcoming over 7.3 million of attendance.

Of the 823 events, 122 were exhibitions, 81 were international and local conferences, the remaining were corporate meetings, banquets and entertainment events. Among the exhibitions and conferences, 14 were new exhibitions and 20 were new conferences, which were held at the HKCEC for the first time.

Baidu’s profit up 5% in Q2

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Beijing, 22nd August: Last week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th June 2024. Revenues for the quarter were US$4.7 billion, flat with the second quarter last year. The company recorded year-on-year profit growth of 5%, reaching US$755 million in the quarter.

Baidu also reported its financial results for the six months ended 30th June. Revenues in the first half of 2024 were US$9.0 billion, flat with the same period of last year. Profit in the period also flat with the previous year, amounting at US$1.5 billion. Diluted earnings per share in the first half of the year were RMB 3.74 (US$0.51).

HC reduces loss in the first half

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Hong Kong, 23rd August: Hong Kong-listed HC Group has recently released its interim results for the six months ended 30th June 2024. The company’s revenues dropped 33% year-on-year, down to US$813 million. However, the company’s net loss decreased from US$112 million in the first half of 2023 to US$7.6 million in the first half of this year.

In terms of business segment, more than 97% of HC Group’s revenues were generated from its smart industries segment, amounting to US$795 million. Revenues from this segment decreased by 26% from the first half of 2023. The remaining revenues were contributed by HC’s technology-driven new retail segment (US$17 million), which dropped 88% year-on-year.

CCID Consulting records increases in revenues and profits

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Beijing, 23rd August: Also last week, CCID Consulting, a research and information service provider in China, announced its financial results for the first half of 2024. Revenues were US$16.7 million, up 23% from the first half of 2023. The company posted a year-on-year growth 36% of its net profit, reaching US$5.3 million. Earnings per share in the six-month period were RMB 0.0593 (US$0.0082).

More than 64% of CCID’s revenues were generated from its Decision-making consulting services, amounting to US$10.8 million. This segment decreased by 2.8% year-on-year. The second largest business segment was CCID’s Science and technology innovation platform services, generating revenues of US$3.5 million, and accounting for about 21% of the company’s total revenues. This segment generated just US$893,000 in the first half of 2023. The remaining revenues were generated from its Data platform services (US$2.5 million), which was up 57% over the same period last year.

Quick takes

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Legends completes acquisition of ASM Global

Legends announced its acquisition of ASM Global, and recently the company announced the completion of the acquisition. Under the acquisition, the companies will provide a data-driven, customizable solution for venue operations and revenue generation focused on delivering exceptional fan and guests experiences in the sports, entertainment, attractions, conventions, and leisure industries.

MyCEB appoints Acting CEO

Malaysia Convention & Exhibition Bureau (MyCEB) appointed the first woman, Miss Tan Mei Phing, to step into the chief executive role as the Acting Chief Executive Officer, effective 20th August 2024. In her new role, she will oversee the strategic direction, financial planning, and operational executive of MyCEB’s initiatives.

UFI’s CEO Kai Hattendorf to step down

UFI, The Global Association of the Exhibition Industry, announced its CEO, Kai Hattendorf, who has been CEO since 2015, will leave UFI at the end of 2024. The UFI leadership team is managing the process of recruiting the next CEO, led by President, Geoff Dickinson, and supported by COO, Adeline Vancauwelaert, and Hattendorf.

Alibaba’s dual primary listing in Hong Kong and New York

China’s leading e-commerce company, the Alibaba Group announced the conversion of the second listing status to a primary status of the Hong Kong Stock Exchange, effective 28th August 2024. The company is now a dual primary listed company on the Hong Kong Stock Exchange and the New York Stock Exchange.