gamescom asia x Thailand Game Show launches in Bangkok

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Bangkok, 20th February: Koelnmesse’s gamescom asia, a B2B and B2C platform for the games industry in the Southeast Asia, and Thailand Game Show, a leading B2C gaming showcase in the region, announced to combine forces to create Southeast Asia’s ultimate gaming stage.

gamescom asia was launched in 2021 in Singapore as a key event in the gaming industry, while Thailand Game Show was launched in 2006. The new show, gamescom asia x Thailand Game Show, will be held at Queen Sirikit National Convention Center (QSNCC) in Bangkok, running from 16th to 19th October 2025. It is also targets to be a powerful global business and consumer platform and an electrifying fan-focused gaming experience.

Mathias Kuepper, Managing Director and VP of Asia Pacific at Koelnmesse Pte Ltd, said, “This partnership is a game-changer for the region’s games industry. gamescom asia’s success has been built on a solid foundation in Singapore, where it has flourished since its inception in 2021, positioning Southeast Asia as a hub for gaming innovation. By joining forces with Thailand Game Show, we are unlocking unprecedented opportunities to connect global video game players with one of the world’s most vibrant and passionate gaming communities. With its rich culture and expanding gaming ecosystem, Bangkok is the ideal stage for this exciting next chapter.”

Alibaba’s profit jumps 333% in December quarter 2024

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Hangzhou, 20th February: Last week, the Alibaba Group, the largest e-commerce company in China, released its results for the quarter ended 31st December 2024. The company posted total revenues of US$38 billion in the quarter, up 8% year-on-year.

The net income jumped 333% year-on-year, reaching US$6.4 billion. The company attributed the increase to increase in income from operations, mark-to-market changes from its equity investment.

Revenues from Alibaba’s B2B business in China under the Taobao and Tmall Group, primarily generated through 1688.com, were US$901 million, a year-on-year increase of 24%. Meanwhile, the B2B business under the Alibaba International Digital Commerce Group, primarily operating through Alibaba.com, generated revenues of US$850 million, an 18% increase over the previous year. B2B revenues accounted for only 4.6% of the group’s total revenues in the quarter.

Alibaba also announced its results for the nine months ended 31st December. Revenues in the nine-month period were US$104 billion, an increase of 5.6% year-on-year. Net income grew 62% in the period, amounting at US$16 billion. Diluted earnings per share in the first nine months of the financial year were RMB 6.04 (US$0.83).

Eddie Wu, Chief Executive Officer of Alibaba Group, was quoted, “This quarter’s results demonstrated substantial progress in our ‘user first, AI-driven’ strategies and the reaccelerated growth of our core businesses… Looking ahead, revenue growth at Cloud Intelligence Group driven by AI will continue to accelerate. We will continue to execute against our strategic priorities in e-commerce and cloud computing, including further investment to drive long-term growth.”

Made-in-China.com’s revenue’s up 9% in FY 2024

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Nanjing, 26th February: Earlier this week, Shenzhen-listed Focus Technology, owner and operator of Made-in-China.com, reported its financial results for the year ended 31st December 2023. Revenues in the year were US$228 million. That represents an increase of 9.3% year-on-year.

The Nanjing-based company’s net income in 2024 grew 19% over the figure of 2023, reaching RMB 451,186,149.50 US$62 million. Diluted earnings per share for the year were RMB 1.42 (US$0.195). The company claimed the increase in revenues and net income was mainly due to the growth in Made-in-China’s revenues as well as the company’s cost reduction and efficiency improvement.

As of 31st December, Made-in-China.com had a total of 27,415 paid users on its platform, which is a year-on-year increase of 12%.

Baidu acquires JOYY’s YY Live for US$2.1 billion

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Beijing, 25th February: Baidu, the leading search engine in China, announced to acquire JOYY Inc’s video-based entertainment live streaming business in mainland China for about US$2.1 billion.

Known as YY Live, the video-based entertainment live streaming business was previously owned by JOYY. Under the agreements between Baidu and JOYY, Baidu paid about US$1.6 billion deposited into escrow accounts in accordance with a share purchase agreement, which subsequently ceased to be in force, has been fully released to Baidu. Baidu plans to invest the released funds in its cloud and AI infrastructure.

Quick takes

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2025-26 HK Budget released

Financial Secretary of the Hong Kong Special Administrative Region (HKSAR), Paul Chan, released the 2025-26 Budget on Wednesday, introducing measures for technological innovation to empower industrial development and facilitate the growth of SMEs and start-ups. The government will also identify suitable sites for developing convention and exhibition facilities in the Northern Metropolis.

Peter Lam renamed as HKTB Chairman

The Hong Kong SAR Government appointed Dr Peter Lam Kin-ngok as the Chairman of the Hong Kong Tourism Board (HKTB), succeeding Dr Pang Yiu-kai, with effect from 1st April 2025. Dr Lam has been a member of HKTB since 2007 and served as Chairman from 2013 to 2019. With his experience in the tourism and commercial sectors and extensive network, he will bring insights and build upon its achievement exploring new source markets and visitor segments, and also developing more diversified tourism products to create business opportunities, inject impetus into economy, to further strengthen Hong Kong’s international status as a world-class travel destination.

Visitor arrivals to Macau up 27% in January 2025

Macau’s Statistics and Census Service (DSEC) released its latest visitor arrivals figures for January 2025. Visitor arrivals to Macau in January increased by 27% year-on-year, with visitor arrivals of 3,646,561. During January, same-day visitors (2,155,279) jumped 46%, while overnight visitors (1,491,282) grew by 7.9%.

Asia Photonics Expo 2025 opens with 344 exhibitors

Asia Photonics Expo (APE) 2025 opened its door at Sands Expo and Convention Centre in Singapore, running from 26th to 28th February, showcasing the latest advancements in optical communications, optics, lasers, sensing, quantum technology, and displays. Under the theme of “Gateway to the Photonics Markets in Asia”, APE 2025 featured 344 exhibitors from 16 countries and regions, covering an exhibition area of 15,000 m2. It is expected to attract over 5,000 industry professionals.