Automechanika Shanghai 2022 to be held in Shenzhen

China, 19th September: The 17th edition of Automechanika Shanghai will be moved to the Shenzhen World Exhibition & Convention Center, running from 20th to 23rd December 2022. This special arrangement is a result of China’s ongoing “COVID-Zero” policies and restrictions.

According to the organisers, Messe Frankfurt (Shanghai) and the China National Machinery Industry International Company (Sinomachint), the relocation provides participants with more flexibility in their planning and will allow the show to meet the industry’s expectations for in-person activities. Automechanika Shanghai – Shenzhen edition is expected to attract at least 3,500 exhibitors from 21 countries and regions.

TCEB launches “Product MICE Premium” initiative

Thailand, 15th September: Thailand Convention and Exhibition Bureau (TCEB) has launched a new initiative, the “Product MICE Premium” is designed to engage local SMEs to produce souvenirs for distribution at MICE events. This initiative will provide business opportunities for souvenir producers.

According to TCEB, the selection of community products for MICE events require three criteria: culture, ways of life, and local raw materials. The products include souvenirs and local cuisine that are unique to the community. TCEB has already selected a total of 15 products in collaboration with communities in three regions in Thailand: the southern, northern and northeastern regions.

Quick takes

Hong Kong finally drops hotel quarantine

Last week, the Hong Kong government said it will scrap its mandatory hotel quarantine. This comes after more than two years of isolation. The city currently has a three-day hotel quarantine with four subsequent days of restrictions that ban some activities such as eating in restaurants.

Thailand expects US$46b tourism revenues in 2023

The Thai government has set the tourism revenue target for 2023 more than US$46 billion. More than five million foreign tourists have arrived in Thailand between January and September this year. Thailand, along with Singapore, were the first Asian markets to reopen in 2022.

Damage from China’s COVID-zero policy grows

The Industrial Automation Show (IAS 2022), originally scheduled to be held at the National Convention and Exhibition Center (Shanghai) on 26-30 September 2022, will be postponed to 30th November to 4th December 2022.

Japan further eases entry restrictions

Japan will soon allow visa-free, independent tourism. As of 11th October, Tokyo will also remove the country’s daily entry cap. Under the new system, tourists will still need to show proof of triple-vaccination or a negative Covid-19 test before travel.

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 2022)

BPA acquires VSef

Shelton, CT, 14th September: BPA Worldwide, a global assurance provider of media, technology, events and sustainability standards compliance announced the acquisition of VSef, a company which has developed a global data format for the digital events industry. Financial details of the acquisition were not disclosed.

VSef was launched in early 2021 on the back of the rapid increase in the number of digital events and platforms as a result of the global pandemic. VSef is a “universal data format for hybrid and virtual events.” It was developed through a collaboration between event organisers and virtual event platforms.

Thailand records 60,000+ recent MICE arrivals

Thailand, 8th September: The meetings and incentives travel industry in Thailand continues to rapidly recover. More than 68,000 international MICE arrivals were recorded from April to June 2022.

According to the Thailand Convention and Exhibition Bureau (TCEB), another 4,100 overseas groups are scheduled to arrive in September as part of TCEB’s support programme. In addition, another 30,100 are expected to arrive from October to December. The top three Thai destinations for hosting meetings and incentives are Bangkok, Phuket and Pattaya; while other popular destinations include Hua Hin, Krabi and Khao Lak.

ICC Sydney hosted 470,000 visitors in FY

Sydney, 8th September: International Convention Centre Sydney (ICC Sydney) has recently released its 2021/2022 Annual Performance Review, reporting that the venue’s visitor numbers and visitor spend have doubled compared to the previous financial year.

Managed by ASM Global, ICC Sydney reported that it welcomed more than 470,000 visitors in FY2021/2022, delivering A$190 million (US$131 million) in visitor expenditure across some 300 events. The is more than double the 200,000 visitors and A$80 million (US$60 million) in economic contribution recorded in FY2020/2021.

Pico Thailand’s revenues up 236%

Bangkok, 8th September: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2022. Revenues in the quarter were US$7.1 million, up an impressive 236% compared with the same quarter in 2021.

The company narrowed its loss from US$714,000 last year, down to just US$64,000 in 2022. The company attributed its improving performance to recovery of the Thai economy as the government eased social distancing measures associated with the global pandemic.

Quick takes

China continues to cancel shows due to Covid crackdown

Beijing continues refuse to consider any alternatives to its “COVID-zero” approach and as a result, the list of postponed and cancelled exhibitions in China is rapidly rising.

Macau receiving interest from MICE-planners in China

Reopening borders (between Macau and the mainland) and reduced quarantine travel requirements have brought China-based event planners back to Macau.

Informa buys back €200m of Eurobonds

Informa announced a successful tender offer for bonds maturing in 2023. This comes alongside its £725m Share Buyback Programme. The successful tender is a part of Informa’s commitment to debt reduction and balance sheet strength.

STB boosts spending on tourism

As Singapore continues to actively try to put the pandemic behind them, the Singapore Tourism Board has unveiled another S$8 million (US$5.6 million) programme to support the recovery of its tourism and lifestyle business sector.

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 2022)

Quick takes

Major cities in China lockdown and events cancelled

China is sticking with President Xi’s Zero COIVD policy as dozens of cities go into lockdown and events are cancelled across the country.

Clarion Events announces new CEO

Clarion Events has announced that Lisa Hannant will become the company’s new CEO taking over from Russell Wilcox who will become executive chairman. Hannant will officially begin as CEO on 1st October. Clarion Events owned Hong Kong-based Global Sources.

South Korea ends pre-departure test requirement

South Korea has removed its pre-departure COVID test requirement for arriving visitors as of 3rd September. The development came after the Korean state infectious disease advisory committee recommended the government end the mandatory pre-travel PCR tests for all international arrivals.

Constellar announces addition to leadership team

Singapore, 7th September: Singapore-based exhibition organiser, Constellar, has announced new members of its senior leadership team.

Mel Shah has been appointed as Senior Vice President, International and Business Development, effective 1st September 2022. Also in September, Alexandra Goto joined Constellar as Vice President of Digital Marketing. In July, Sim Lim Ng was appointed as Vice President of Sales responsible for developing strategic partnerships to expand the range of offerings at Singapore EXPO.

Netsun’s profits up, but revenues fall

Hangzhou, 31st August: Shenzhen-listed Zhejiang Netsun, a B2B e-commerce platform, recently released its financial results for the six months ended 30th June 2022. The company’s revenues were US$37 million during the period. This represents a year-on-year decrease of 14% compared with the same period in 2021.

However, profits during the six-month period rose slightly by 2.2%, reaching US$1.7 million. Diluted earnings per share in the first half of 2022 were RMB 0.05 (US$0.0075).

SEEC Media’s loss widens in the first half

Hong Kong, 31st August: Last week, SEEC Media Group, a Hong Kong-listed media company, announced its financial results for the first half of 2022. Revenues in the six-month period were just US$4.1 million, a decrease of 12% year-on-year. The company also posted a loss of US$3.8 million in the first half of 2022, compared with a loss of US$2.7 million in the same period last year.

Almost 40% of SEEC’s total revenues were generated through its advertising services & sales of books & magazines (US$1.6 million). This segment fell 16% year-on-year. SEEC’s next largest segment, securities broking services, generated revenues of US$1.0 million and accounted for about 25% of total revenues. This segment posted a decrease of 21% compared with the previous year.

HKTDC opens Watch & Clock Fair with 200+ exhibitors

Hong Kong, 30th August: The Hong Kong Trade Development Council (HKTDC) opened its 41st Hong Kong Watch and Clock Fair, and 10th Salon de TE, under its new Exhibition+ model (offline and online format), bringing more than 200 exhibitors.

Organised with the HKTDC, Hong Kong Watch Manufacturers Association and The Federation of Hong Kong Watch Trades and Industries, the physical fairs ran from 7th to 11th September at the Hong Kong Convention and Exhibition Centre (HKCEC), and the online exhibition ran from 7th to 18th September. The physical fairs were open to trade buyers and to the general public.

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 2022)

Baidu posts weak result in first half

Beijing, 30th August: Earlier this week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th June 2022. Revenues in the quarter were US$4.4 billion, a decrease of 5% year-on-year. However, the company recorded a profit of US$543 million in the quarter, compared to a loss of US$90 million in the second quarter of 2021.

Baidu also reported its financial results for the six months ended 30th June. Revenues in the first half of 2022 were US$8.9 billion, a year-on-year decrease of 2.4%. Profit in the period dropped 89%, down to US$411 million. Diluted earnings per share in the first half of 2022 were RMB 0.89 (US$0.13).

DLG posts loss in first half

Shanghai, 26th August: Last week, DLG Exhibitions & Events Corporation Limited (formerly Shanghai Lansheng Corporation) released its financial results for the six months ended 30th June 2022. Revenues in the period were US$17 million, which represents a year-on-year decrease of 67%.

The company posted a loss of US$5.6 million in the first half of 2022, compared with a profit of US$11 million during the same period last year.

Meorient cuts loss

Shanghai, 30th August: Shenzhen-listed exhibition organiser Meorient released its financial results for the six months ended 30th June 2022. The group’s revenues in the first half of 2022 grew 46% year-on-year, reaching US$14 million. The company reduced its loss to US$2.2 million in the first six months, compared to a loss of US$3.6 million for the same period in 2021.

In the first half of 2022, Meorient held a total of nine hybrid shows in eight countries, presenting some 1,100 exhibitors and attracting nearly 150,000 visitors. In addition, the company held digital exhibitions serving nearly 1,000 exhibitors in 24 provinces in China.

Global business travel heads towards recovery

Worldwide, 29th August: The latest 2022 GBTA Business Travel Index Outlook – Annual Global Report and Forecast (BTI) showed the global business travel industry continues to recover headed towards to pre-pandemic spending levels. However, a full recovery is not expected until 2026 instead of 2024 as previously forecast.

The GBTA BTI is a comprehensive annual study of business spending covering 73 countries and over 40 industries. According to the study, total spending on global business travel was US$697 billion in 2021, 5.5% up compared with the 2020 figure. Due to the Omicron variant and resulting spike in global COVID cases in late 2021 and early 2022, recovery was slowed. Global business travel spending in 2022 is expected to reach US$930 billion, which is approximately 65% of pre-pandemic levels.