Sino Splendid narrows loss

Hong Kong, 12th May: Last week, Hong Kong-listed Sino Splendid (formerly China.com) released its results for the quarter ended 31st March 2023. Total revenues dropped 49% year-on-year, down to just US$1.2 million in the quarter. However, the company narrowed its net loss from US$2.7 million in the first quarter of 2022, down to US$585,000 in the first quarter of 2023.

More than 88% of Sino Splendid’s revenues were generated from its financial magazine and other media businesses, amounting to just over US$1 million. This represents year-on-year decrease of 41%. The remaining revenues were generated from Sino Splendid’s travel media business (US$102,000) and its money lending business (US$35,000).

Quick takes

Alibaba to restructure and list cloud business

Alibaba said that it plans to spin off its cloud business within 12 months and the group will also undergo its largest-ever reorganization. Its logistics business, Cainiao and “high-tech grocery chain” Freshippo have been approved for IPOs.

Six travel trends that could impact Asian events

Douglas Quinby, CEO and co-founder of Arival, looks at travel in Asia and sees an uneven recovery, the return of intra-regional travel, but questions remain about the return of the outbound Chinese traveller.

Amadeus reports rising hotel occupancy across Asia

Amadeus’ service, Demand360, offers a forecast of growing travel demand across Asia-Pacific in the second half of the year. And in the first quarter of the year, Asia posted a hotel occupancy growth of 62%, surpassing 2019 levels by 3%. This was largely due to the opening of China’s border.

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 2023)

Made-in-China.com’s profits rise 20%

Nanjing, 29th April: Focus Technology, the operator of the B2B sourcing platform Made-in-China.com, has reported revenues of US$50 million in the quarter ended 31st March 2023, which is similar to the figure in the first quarter of 2022.

The company’s net profits grew 20% year-on-year, reaching US$7.1 million in the quarter. Diluted earnings per share in the three-month period were RMB 0.1561 (US$0.023). The company’s management did not provide any comment its performance in the quarter.

BOL’s revenues up 14% in Q1

Bangkok, 11th May: Earlier this week, Business Online (BOL), a leading online business information service provider in Thailand, announced its financial results for the quarter ended 31st March 2023. The company recorded revenues of US$5.6 million for the quarter, representing an increase of 14% year-on-year.

BOL’s net profits for the three-month period increased by 10%, reaching US$2.0 million. Diluted earnings per share in the first quarter of 2023 were THB 0.08 (US$0.0024).

Global Exhibitions Day on 7th June 2023

Paris, 9th May: UFI, the Global Association of the Exhibition Industry, has announced that its annual event, Global Exhibitions Day (GED) will be held on 7th June 2023. The theme this year is “We run the meeting places and marketplaces for everyone.”

Launched in 2016, GED is held annually on the first Wednesday of June, with the stated aim of increasing the visibility of the exhibition industry locally, regionally and globally. During COVID, this advocacy initiative played a vital role in educating governments around the world about the huge economic impact of exhibitions.

For more information, please visit www.globalexhibitionsday.org.

New Australian business events association established

Australia, 4th May: The three leading Australian business event associations are planning to come together to create one large, powerful voice for the industry. The Australian Business Events Association will officially be established on 3rd July 2023.

The new association will be the result of combining the Association of Australian Convention Bureaux (AACB), the Australian Convention Centres Group (ACCG), and the Exhibition & Event Association of Australasia Ltd (EEAA). Peter King, the retired CEO of the Melbourne Convention and Exhibition Centre (MCEC), has been appointed as independent chair of the board.

Quick takes

ADB looks at impact of COVID on aviation in ASEAN

International business events cannot properly recover until there are flights connecting key destinations. This article takes a look at the challenges that remain in getting airlines in the ASEAN region back up to pre-COVID capacity.

UFI adds more talent to the Paris team

UFI has hired quite a few new key staff members in the recent months. Add to that list Nidhi Grelaud. She will join the team as Programme Manager for Content and Communities, adding a new position to the team working in the Paris headquarters.

Constellar expects 10,000 delegates at FinTech Festival India

Building on the huge success of its flagship event in Singapore, the second edition of FinTech Festival India (FFI) will be held next week at the Jio World Centre in Mumbai. Constellar is predicting 10,000 attendees.

More good news from Hong Kong

HOFEX and ProWine Hong Kong, the city’s first international food and hospitality trade show since COVID, attracted nearly 40,000 attendees from 73 countries.

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 2023)

China’s State Council to use exhibitions for export growth

China, 2nd May: China’s State Council (CSC) has announced a new strategy to encourage exporters to attend overseas exhibitions. The CSC’s 18-point plan includes increasing the number of international flights and improving visa application channels. There is also a commitment to increase efforts to bolster both the automotive and e-commerce sectors. The CSC will also encourage exporters to deepen ties with the ASEAN region.

It is significant that the CSC explicitly plans to bolster exports by providing greater support for Chinese businesses to attend overseas trade shows. There are dozens, if not hundreds, of B2B exhibitions across Asia that rely on Chinese exhibitors to drive growth at the events and in the local economy. Through the China Council for the Promotion of International Trade (CCPIT), China subsidises thousands of Chinese businesses enabling them to exhibit at overseas trade shows each year.

Meorient posts small profit in Q1

Hangzhou, 28th April: Last week, Meorient released its results for the quarter ended 31st March 2023. Meorient is a Shenzhen-listed exhibition organiser that focuses on taking Chinese business overseas to exhibit at its own trade shows in a variety of markets in the Middle East, Africa, Eastern Europe and South America.

Meorient’s revenues jumped 130% year-on-year, reaching US$9.8 million. The company posted a net profit of US$155,000 in the quarter, compared with a net loss of US$2.7 million in the first quarter of 2021.

Netsun’s revenues fall nearly 10% in 2022

Hangzhou, 29th April: Shenzhen-listed Zhejiang Netsun announced its results for the year ended 31st December 2022, with revenues of US$61 million. This represents a year-on-year decrease of 9.3%. Net profit in the year was US$3.3 million, which is similar to that of the previous year.

The Hangzhou-based company also released its results for the quarter ended 31st March 2023. Netsun’s revenues in the quarter grew 32% amounting to US$24 million. The company’s net profit in the same period dropped 27% year-on-year, down to just US$614,000. Diluted earnings per share in the first quarter of 2023 were RMB 0.02 (US$0.0029).

Hong Kong’s KITEC to be redeveloped

Hong Kong, 3rd May: Hong Kong’s Kowloon Bay International Trade & Exhibition Centre (KITEC) has received government approval to be redeveloped. This is part of the Hong Kong government’s plans to establish Kowloon East as another central business district (CBD) and to it is a small part of the government’s larger plan to revitalise the East Kowloon Area.

After the redevelopment, KITEC will have new facilities featuring three office towers and an exhibition hall offering 11,285 m2 of floor space. The work is scheduled to be completed in 2027. The venue will be too small to host the majority of Hong Kong’s B2B exhibitions, however it may be useful for some consumer shows and for small events during peak trade show seasons.

Quick takes

Melissa Ow to return to head STB

Melissa Ow has been named as the new chief executive of Singapore Tourism Board (STB). Ow is currently an executive vice president at the Economic Development Board (EDB). Prior to the EDB position, Ow was deputy chief executive at STB. She takes over from Keith Tan who was chief executive of STB for over four years.

Large Indian incentive groups return to Thailand

The Thailand Convention and Exhibition Bureau (TCEB) has reportedly provided support to nearly 30 groups from India since October last year. A total of close to 42,000 delegates have visited Thailand including one featuring 10,000 delegates.

Asian airlines report strong growth

According to the Association of Asia Pacific Airlines (AAPA) there has been a 495% year-on-year increase in the number of international passengers carried in March. That translates an additional 20 million passengers moving around the region. That figure is 61% of pre-pandemic 2019 levels.

Business events in Brisbane to get Olympic boost

Ahead of the 2032 Olympic games, Brisbane will build an additional 1,000 hotel rooms, more than 50 new F&B outlets, entertainment, luxury retail, public artworks, 1,500 residential flats and the equivalent of 12 football pitches of public space.

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 2023)

Revenues for DLG Exhibitions down 16% in 2022

Shanghai, 27th April: Earlier this week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the year ended 31st December 2022. Revenues in the year were US$112 million. This represents a year-on-year decrease of 16%. Net profits fell slightly by 4.6% year-on-year, down to US$17 million. Diluted earnings per share in 2022 were RMB 0.21 (US$0.0305).

Separately, the company announced its results for the quarter ended 31st March 2023. Revenues in the quarter were US$7.8 million. That represents a year-on-year increase of 34%. The company narrowed its net loss from US$13 million in the first quarter of 2022, down to US$1.3 million in the first quarter of 2023.

HKTDC’s April events attract 56,000 buyers

Hong Kong, 22nd April: Last week, the Hong Kong Trade Development Council (HKTDC) organised seven concurrent events (six concurrent exhibitions and a conference), attracting approximately 56,000 buyers from over 130 countries and regions. About 60% of buyers were from overseas – including markets such as Mainland China, ASEAN, Taiwan, the U.S., Japan and Korea.

The six shows were: Hong Kong Gifts & Premium Fair; Home InStyle; the Hong Kong International Home Textiles and Furnishings Fair; Fashion InStyle; the Hong Kong International Printing & Packaging Fair as well as the Hong Kong International Licensing Show, and the concurrent conference of Asian Licensing Conference.

Vinexpo Asia returns to both Singapore and Hong Kong

Singapore, 25th April: Vinexpo Asia will return to Singapore next month, running from 23rd to 25th May. According to the organiser, the Vinexposium Group, the event will take place every odd year in Singapore, and in Hong Kong in every even year.

In 2023, the Singapore event will feature 1,000 wine producers from 35 countries and regions, the organiser is expecting 8,000 trade visitors from across Asia. Vinexpo Asia will also host 40 sessions as part of its “Vinexpo Academy,” with masterclasses, major tastings and conferences.

GL events Exhibitions revenues up 179% in Q1

Lyon, 20th April: Last week, GL events released its financial results for the quarter ended 31st March 2023. Revenues at GL events’ exhibitions business reached €113 million (US$121 million), which represents an increase of 179% compared with the figure in the first quarter in 2022 – and more than five times higher than that of Q1 in 2021.

GL events’ group revenues grew 59% in the quarter, reaching €351 million (US$377 million). In terms of its key businesses, GL events Live generated €150 million (US$161 million), up 20% year-on-year. While GL events Venues posted revenues of €88 million (US$94 million), a year-on-year increase of 61%.

Quick takes

Macau is coming back

Macau reports visitor arrivals were just under two million in March of this year. That is up 271% year-on-year and up 23% month-on-month. Of those, 1.3 million were from Mainland China. Macau has a long way to go, but it is headed in the right direction.

Providence Equity raises its offer for Hyve

After major shareholders indicated that they were unimpressed, Providence Equity Partners increased its offer by 12%. The new offer values Hyve at US$457 million on a fully diluted basis and values Hyve at US$660 million on an enterprise value basis. The board agreed to accept this increased offer.

Worries over costs of business travel

Sustainability and costs are serious concerns for business travel and event managers in Asia. Despite this, expect trip activity in Asia is forecast to pre-pandemic levels in 2023. “Travel managers in Asia to trim transport, accommodation and F&B costs where they can.”

More details on Japan’s first Integrated Resort

The Osaka based IR is expected to attract 20 million guests, including six million international visitors. When it opens in 2029, the 490,000 m2 site will feature hotels, a conference centre, an exhibition hall, a shopping mall, a museum and a theatre. MGM Resorts International and its local partner Orix Corporation will each own 40% of the facility with various government entities owning the remaining 20%.