GL events reports increase in revenues and profit

/

Lyon, 4th September: Last week, GL events released its financial results for the six months ended 30th June 2024. The group reported revenues of €821 million (US$879 million), representing year-on-year growth of 19%. Net profit in the six-month period grew 11%, reaching €45 million (US$48 million).

In terms of business sectors, GL events Live generated revenues of €496 million (US$531 million), up 35% year-on-year. Meanwhile, GL events Venues, recorded revenues of €211 million (US$226 million), year-on-year growth of 18%.

GL events Exhibitions, however, recorded a 21% decrease in revenues, down to €113 million (US$121 million). The company attributed the decrease in revenues of GL events Exhibitions to a particularly strong post-COVID performance in the first half of 2023 and biennial effect (also in the first half of 2023).

Messe Frankfurt to launch new events in Thailand

/

Thailand, 6th September: Messe Frankfurt (HK) Limited, will join force with Yorkers Trade & Marketing Service Company and GMTX to co-organise events targeting the electronics and automation technologies industries in the ASEAN region.

Intelligent Asia Thailand and Automation Thailand will run from 6th to 8th March 2025, at the Bangkok International Trade & Exhibition Centre (BITEC), showcasing solutions for electronics manufacturing and automation. In addition, SPS Stage Bangkok will be the first SPS brand in the region for the manufacturing sector. It is expected the events will attract about 300 exhibitors.

SEEC Media posts larger loss

/

Hong Kong, 30th August:  Last month, SEEC Media Group, a Hong Kong-listed media company, announced its financial results for the first half of 2024. Revenues in the six-month period were US$1.96 million, a decrease of 30% year-on-year. The company recorded a loss of US$3.3 million in the first half of 2024, compared with a loss of US$1.1 million in the same period of last year.

About 47% of SEEC’s total revenues were generated through its provision of advertising services, amounting to US$919,000. This segment fell 21% year-on-year. Management stated that drop was due to the expiry of some exclusive advertising contracts and weakness in the print media advertising business in China.

Sino Splendid narrows loss

/

Hong Kong, 30th August: Recently, Hong Kong-listed company Sino Splendid (formerly China.com) has released its results for the six months ended 30th June 2024. Revenues during the period were US$2.4 million, representing a year-on-year decrease of 2.4%. The company did manage to narrow its losses from US$1.7 million in the first half of 2023 down to a loss of US$768,000 in the first half of this year.

The company attributed the decrease in revenues to very weak performance of its travel media business, which dropped 85% from last year. In terms of other business segments, more than 96% of Sino Splendid’s revenues were generated by its financial magazine & other media business, amounting to US$2.3 million. The remaining revenue was generated by its money lending business (US$56,000), and its travel media business (US$31,000).

Quick takes

/

New stadium to open in Hong Kong in 2025

Hong Kong will have a new stadium next year The Kai Tak Sports Park will be located at the old airport at Kai Tak. It features 50,000 seats in the stadium complete with retractable roof and corporate boxes. Hong Kong’s Chief Executive, John Lee, wants the stadium to be open by March next year to host the Hong Kong Sevens.

Alibaba’s shares included in stock programs

China’s leading e-commerce company, the Alibaba Group, announced the company’s shares trading on the Hong Kong Stock Exchange (HKEx) will be part of the Shanghai-Hong Kong Stock Connect program and the Shenzhen-Hong Kong Stock Connect program. Allowing the shares to be traded in China.

Messe Düsseldorf combines Asian healthcare fairs

Messe Düsseldorf announced plans to combine its seven Asian healthcare trade fairs under the umbrella of Medicare Asia. In addition, the company also announced a new partnership with KAOUN, organizer of GITEX, a leading tech start-up show in Dubai. GITEX Digi-Health 5.0 Asia will be held alongside MEDICAL FAIR ASIA and MEDICAL FAIR THAILAND.