Netsun’s revenues jump 91% in the first half

Hangzhou, 31st August: Last week, Shenzhen-listed Zhejiang Netsun, a B2B e-commerce platform, released its financial results for the six months ended 30th June 2021, reporting revenues of US$44 million during the period. This represents year-on-year growth of 91% compared with the same period last year.

However, profits during the six-month period dropped 14%, down to US$1.8 million. Diluted earnings per share in the first half of 2021 were RMB 0.05 (US$0.0077).

Thailand plans to fully reopen by January

Thailand, 7th September: Thailand’s Ministry of Tourism and Sports plans to reopen the country without mandatory quarantine requirements by January 2022, although the move hinges on obtaining high vaccination rates.

Bangkok was scheduled to reopen in October. However, as most residents will not receive their second vaccine dose until the end of October, the reopening schedule has been pushed back to November. The reopenings of Chiang Mai, Prachuap Khiri Khan (Hua Hin) and Chon Buri (Pattaya) will go ahead as planned on 1st October.

Quick takes

Global Sources Fall 2021 Show Series reopens in Hong Kong

Global Sources has announced that their Fall 2021 Show Series will be held at Hong Kong’s AsiaWorld-Expo (AWE) from 25th to 27th October. This edition will feature a new show structure, with traditional trade shows followed by private buyer and supplier interaction sessions, and show ambassador services.

Management changes at Constellar Holdings

Constellar Holdings’ Chief Executive of Venues, Mr Aloysius Arlando, will be stepping down on 30th September to pursue personal interests. The position will be filled by Mr Jean-Francois Quentin from October 1st onwards.

RISE Conference returns to Hong Kong for five consecutive years in 2022

From March 2022 onwards, Asia’s largest tech event RISE is set to become an annual Hong Kong event for the following five years. Announced by the Hong Kong Tourism Board and Web Summit, the 2022 edition will be held from 14th to 17th March at the AsiaWorld-Expo (AWE).

SEEC down in revenues, but narrow loss

Hong Kong, 31st August: Earlier this week, SEEC Media Group, a Hong Kong-listed media company, announced its financial results for the first half of 2021. Revenue in the six-month period was US$4.7 million, a decrease of 2.5% year-on-year. However, the company reduced its loss from US$4.4 million in the first half of 2020 to US$2.7 million in the first half of 2021.

Around 42% of SEEC’s total revenue was generated from the provision of advertising services and sales of books & magazines, amounting to US$1.96 million. This segment was almost flat compared to the previous year. The next largest segment, provision of securities broking services, generated revenue of US$1.32 million and accounted for 28% of total revenue. This business segment grew 32% year-on-year.

The remaining revenue was generated by the money lending business (US$1.01 million), and the provision of e-commerce platforms servicers & sales of related goods (US$403,000).

HC Group reduces loss in first half

Hong Kong, 27th August: Last week, Hong Kong-listed HC Group released its interim results for the six months ended 30th June 2021. The company’s revenue grew 40% in the first half of the year, reaching US$1.09 billion. The company also reduced its loss from US$28 million in the first half of 2020, down to US$17 million in 2021.

The management attributed the increase in revenue to economic recovery from the COVID-19 pandemic. Many restrictions on factory production and business operations have been removed or reduced, leading to growth in the company’s orders and revenue.

Macau holds 147 MICE events in Q2

Macau, 26th August: Macau’s Statistics and Census Service (DSEC) has released its MICE statistics for the quarter ended 30th June 2021. Macau held a total of 147 MICE events in the quarter, which is 106 events more than the same quarter in 2020. The total number of participants and attendees jumped more than 13 times, reaching 318,000 participants and attendees.

In terms of event types, 128 meetings and conferences were held in Macau during the quarter, which is 89 more than the same period last year. The total number of participants grew almost 7 times, at 16,000 participants.

In the same period, 15 exhibitions were held – 13 more than the previous year. The number of attendees jumped more than 14 times to 301,000 attendees. The total gross area occupied by these exhibitions was 33,000 m2.

TCEB unveils MICE strategies

Bangkok, 26th August: Last week, the Thailand Convention & Exhibition Bureau (TCEB) held a virtual seminar, “Thai MICE for the Nation”, unveiling three strategies for MICE revival and development in 2022.

The three strategies are: 1) Strengthen national MICE: TCEB will help upgrade provinces with MICE development potential, create new events and uplift MICE activities to international quality; 2) Tap into global opportunities: Driving Thai MICE into the global arena, while gaining a competitive advantage in ASEAN through dynamic marketing campaigns such as “Meeting in Thailand Year”; 3) Upgrade the industry’s potential: Continuing collaboration between TCEB and MICE associations, as well as public sector strategic alliances to drive personnel development, venue standards and training course development.

Quick takes

SIAL Mumbai debut date announced

Following the success of SIAL DELHI in 2018 and 2019, the Mumbai edition has been confirmed to be held at the NESCO Exhibition Centre from 10th to 12th May 2022. Following its debut in Paris in 1964, SIAL has grown to become a global brand present in 50 countries around the world with events in 7 countries.

Watch & Clock Fair and Salon de TE returns in September

The 40th edition of the Hong Kong Trade Development Council (HKTDC) Hong Kong Watch & Clock Fair and ninth Salon de Te events are scheduled to return to the Hong Kong Convention and Exhibition Centre (HKCEC). The physical fairs will run from 8th to 12th September, with the online versions running until 19th September.

Diversified Communications acquires Natural Medicine Journal

The peer-reviewed digital monthly journal and website Natural Medicine Journal (NMJ) has been successfully added to Diversified Communications’ integrative healthcare portfolio. NMJ will remain a stand-alone product, with their produced content shared and cross promoted between NMJ and Diversified’s respective audiences.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2021)

TCEB unveils 3-year roadmap for conventions

Bangkok, 23rd August: The Thailand Convention & Exhibition Bureau (TCEB) has unveiled a three-year roadmap for the country’s conventions industry for 2021-2023.

The roadmap outlines an array of action plans to attract more conventions to Thailand and elevate the country’s international profile. It comprises three key strategies: 1) To upgrade Thailand’s convention ecosystem through active lead generation and industry consultation; 2) To upskill the industry with targeted developmental programmes; and 3) To enhance Thailand’s reputation in the world conventions arena through international partnerships and global agenda conventions.

DLG posts profit in first half

Shanghai, 20th August: DLG Exhibitions & Events Corporation Limited (formerly Shanghai Lansheng Corporation) released its financial results for the six months ended 30th June 2021. Revenues for the year were US$53 million, which represents a year-on-year decrease of 76%.

However, the company posted a profit of US$11 million over the six-month period, compared to a loss of US$3.1 million during the same period in 2020. Diluted earnings per share in the first half of 2021 were RMB 0.13 (US$0.020).

Meorient’s revenues up 256%

Shanghai, 19th August: Last week, Shenzhen-listed exhibition organiser, Meorient released its financial results for the six months ended 30th June 2021. The group’s revenues in the first half of 2021 jumped 256% year-on-year to reach US$10 million. The company reduced its loss of US$7.6 million from the first six months of 2020 to US$3.6 million for the corresponding period in 2021.

The increase in revenues was due to the growth in income of Meorient’s digital events business. The company was able to host physical face-to-face exhibitions with the assistance of digital exhibitions.

CCID’s revenues jumps 97% in first half

Beijing, 23rd August: Earlier this week, CCID Consulting, a research and information service provider in China, announced its financial results for the first half of 2020. Revenues were US$15 million, rising 97% year-on-year. The company posted a profit of US$2.2 million for the six-month period versus a loss of US$1.5 million during the same period in 2020. Diluted earnings per share were RMB 0.0227 (US$0.0035).

Almost half of CCID’s revenues were generated from its management and strategy consultancy services, which amounted to US$7.3 million and represented an increase of 75% year-on-year. The second largest business segment was the company’s information engineering supervision services, which generated revenues of US$4.2 million, accounting for 29% of total revenue and representing growth of 96%. The remaining revenues were contributed by market consultancy services (US$2.7 million) and other services (US$407,000).

Quick takes

Singapore MICE events can now accommodate 1000 attendees

With more than 70% of Singapore’s population having received both vaccine doses, the government has eased restrictions for business events as per its endemic COVID-19 plan. As of 19th August, a maximum of 1000 attendees can be hosted provided they have all been vaccinated (50 if unvaccinated) – the same numbers also apply for live performances.

CENTRESTAGE set to return to HKCEC in September

The sixth edition of Asia’s premier fashion showcase will be held at the Hong Kong Convention and Exhibition Centre (HKCEC) from 10th to 12th September. Organised by the Hong Kong Trade Development Council (HKTDC), CENTRESTAGE will feature over 200 brands from 20+ countries and regions with nearly 30 fashion events.

Singapore-Hong Kong travel bubble shelved

After a discussion between Singapore Transport Minister S. Iswaran and Hong Kong Secretary for Commerce and Economic Development Edward Yau, both cities have agreed to halt further discussions on the twice-delayed travel bubble, as keeping local populations safe and preventing the risk of imported cases held greater priority. Air travel between the two cities is expected to return eventually, just not in the immediate future.

New look for upgraded QSNCC in Bangkok

Bangkok, 17th August: TCC Assets (Thailand) Co., Ltd recently unveiled the new look of the Queen Sirikit National Convention Center (QSNCC) in Bangkok, which will open next year.

After completion, the new QSNCC will have a total event capacity of 78,000 m2, including two main exhibition halls of over 45,000 m2, two large conference halls of about 10,000 m2, 50 flexible meeting rooms and additional retail zone. The venue will also be accessible by Metropolitan Rapid Transit (MRT) and will have 2,700 indoor parking spaces.

Baidu’s revenues up 20% in Q2

Beijing, 12th August: Last week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th June 2021. Revenues in the quarter were US$4.9 billion, an increase of 20% year-on-year. However, the company posted a loss of US$90 million for the quarter, compared with net income of US$507 million in the second quarter of 2020.

More than 66% of its total revenues (US$3.2 billion) were generated from Baidu’s online marketing services, which grew by 18% year-on-year. The remaining revenues were generated from a variety of others services, amounting to US$1.6 billion. This represents an increase of 26% compared with the previous year. The increase was mainly driven by its cloud service.

Made-in-China.com’s revenues grow 37% in first half

Nanjing, 17th August: Last week, Shenzhen-listed Focus Technology, which owns and operates B2B trading platform Made-in-China.com, announced its financial results for the six months ended 30th June 2021. Revenues were US$112 million, a year-on-year increase of 37%.

Net income in the first half jumped 169% over the previous year, reaching US$20 million. Diluted earnings per share in the first six months of 2021 were RMB 0.42 (US$0.065). The company attributed the increase to growth of its online sourcing platform, Made-in-China.com.

Shows to be held online

Bangkok/Singapore, 13th & 18th August: THAIFEX – ANUGA ASIA in Thailand and Occupational Safety + Health Exhibition for Asia (OS+H Asia) in Singapore have both postponed physical events to next year, in favour of online editions this year.

Koelnmesse, one of the organisers of THAIFEX – ANUGA ASIA, announced it will host the event virtually this year, running from 29th September to 3rd October 2021. THAIFEX – Virtual Trade Show is scheduled to run Online Business Matching (OBM).

Organised by Messe Düsseldorf Asia, the 12th edition of OS+H Asia (running from 8th to 12th November 2021) will adopt a hybrid model. The physical component will be held at Devan Nair Institute for Employment and Employability. It will focus on four key pillars: Tech innovation stage, Hosted buyer sessions, Virtual showcases, and Thought leadership conferences and seminars.