CCID Consulting posts profit in first half of 2023

Beijing, 23rd August: CCID Consulting, a research and information service provider in China, recently announced its financial results for the first half of 2023. Revenues were US$13.5 million, up 36% year-on-year. The company posted a profit of US$3.9 million, compared with a loss of US$2.0 million in the first half of 2022. Earnings per share in the six-month period were RMB0.0447 (US$0.0062).

More than 81% of CCID’s revenues were generated from its Decision-making consulting services, amounting to US$11.1 million. This segment jumped 107% year-on-year. The second largest business segment was CCID’s Data platform services, generating revenues of US$1.6 million, and accounting for 12% of the company’s total revenues. This segment generated just US$69,000 in the first half of 2022. The remaining revenues were generated from its Science and technology innovation platform services (US$893,000).

Macau hosts 263 MICE events in Q2

Macau, 24th August: Earlier this week, Macau’s Statistics and Census Service (DSEC) reported its MICE statistics for the quarter ended 30th June 2023. Macau held a total of 263 MICE events in the quarter, which represents 171 more events than the same period in 2022. The total number of participants and attendees grew by 66% year-on-year in the quarter to 508,800.

Of the total 263 events, 245 were meetings and conferences, up by 163 from the same quarter last year. The total number of participants at meetings and conferences jumped 299%, reaching 45,200 participants. A total of 14 exhibitions were held in the quarter, which was four events more than the same quarter last year. The number of attendees increased by 57% to 460,900. The total gross area occupied by these exhibitions was 78,000 m2.

Quick takes

UFI Asia-Pacific Conference 2026 to be held in Bangkok

UFI – The Global Association of the Exhibition Industry has chosen Bangkok, Thailand to host the UFI Asia-Pacific Conference 2026. Formalising their commitment, UFI and the Thailand Convention & Exhibition Bureau (TCEB) signed a Memorandum of Understanding at a launch press conference held at Queen Sirikit National Convention Center (QSNCC) in Bangkok.

Malaysia Business Events Week 2023 draws industry professionals

Malaysia Convention & Exhibition Bureau (MyCEB) organised another successful Malaysia Business Events Week (MBEW) 2023 at the Kuala Lumpur Convention Centre. The six-day event treated 400 business events practitioners to a series of panel discussions, workshops, training sessions, forums and CSR initiatives; as well as the launch of the MyTripleE support programme under MyCEB’s Meet in Malaysia campaign.

Hong Kong regaining lustre as incentives destination

On the path to post-pandemic recovery, Hong Kong welcomed nearly 300 meeting and incentive groups over the past six months; and recently hosted more than 160 MICE-travel and corporate event organisers from India, South Korea and mainland China on curated familiarisation trips – showcasing new and upgraded attractions throughout the city.

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)

Alibaba profits up 51%

Hangzhou, 10th August: Last week, Alibaba Group, China’s largest e-commerce company, announced its results for the quarter ended 30th June 2023. The company recorded revenues of US$32 billion, an increase of 14% year-on-year. Its profits jumped 51% year-on-year, reaching US$4.7 billion.

Just over 58% of Alibaba’s total revenues were generated from its Taobao & Tmall Group and the Alibaba International Digital Commerce Group: US$16 billion and US$3.1 billion, respectively. Revenues from Taobao & Tmall’s China commerce wholesale business, primarily generated through 1688.com, were US$707 million, a moderate increase of 1% over the previous year. Meanwhile, Alibaba International Digital Commerce’s international commerce wholesale business, primarily traded on Alibaba.com, generated revenues of US$687 million – on par with the previous year.

Geelong Convention and Exhibition Centre to be named Nyaal Banyul

Australia, 11th August: The Geelong Convention and Exhibition Centre will be renamed as the Nyaal Banyul Geelong Convention and Event Centre.

In Wadawurrung language, the name Nyaal Banyul means “open your eyes to the hills”. According to the management company, this name was chosen to encourage people at the site to take time to appreciate the landscape and natural beauty of Wadawurrung Country. The new name also marks the return of events and the broadening range of events to be hosted at the centre. It is also a celebration of the site, which was historically a gathering place known as a “baierr”.

Sino Splendid narrows losses in first half of 2023

Hong Kong, 11th August: Last week, Hong Kong-listed company Sino Splendid (formerly China.com) released its results for the six months ended 30th June 2023. Revenues during the period were US$2.4 million, representing a year-on-year decrease of 49%. However, the company narrowed its losses from US$2.6 million in the first half of 2022, down to a loss of US$1.7 million in the first half of this year.

In terms of business segments, more than 88% of Sino Splendid’s revenues were generated by its financial magazine & other media business, amounting to US$2.2 million – down 40% year-on-year. The remaining revenue was generated by its travel media business (US$204,000 – down 72% year-on-year), and money lending business (US$70,000 – on par with the previous year).

UltraLuxe debuts at Singapore Watch Fair

Singapore, 15th August: This year’s Singapore Watch Fair will include a new section: UltraLuxe, a niche luxury festival showcasing independent designers and iconic jewellery, watch, fashion and lifestyle brands. Supported by the Singapore Tourism Board (STB), it will run from 13th to 22nd October 2023, at Resorts World Sentosa (RWS).

UltraLuxe will comprise four exhibitions in two locations: Jeweluxe, Advocacy, Homme, and the Singapore Watch Fair – which will feature creations by independent watchmakers around the world and a ‘collector’s museum’ of vintage watches.

Quick takes

Global business travel industry spending to reach US$1.8 trillion by 2027

According to the latest 2023 GBTA Business Travel Index Outlook – Annual Global Report and Forecast published by the Global Business Travel Association, the global business travel industry is recovering more quickly than anticipated. Pre-pandemic spending levels of US$1.4 trillion are expected to be surpassed in 2024, before growing to nearly US$1.8 trillion by 2027.

Japan unveils strategy to elevate global MICE standing

According to a new national government strategy, Japan aims to become the top destination for business events in Asia, and a top five global destination by 2030. The action plan aims to attract visitors interested in business, academia, culture, arts, sports and nature; as well as attracting more international conferences to Japan.

InterContinental opens at Shenzhen WECC

The InterContinental Shenzhen WECC has opened in the Qianhai Shenzhen-Hong Kong Cooperation Zone of Bao’an District – just 800 metres from the Shenzhen International Convention and Exhibition Center. The hotel offers 359 guestrooms and suites, as well as 3,300 m2 of meeting space including a 1,200 m2 pillar-free ballroom.

Macao visitor arrivals triple in Q2 2023

Macao’s Statistics and Census Service (DSEC) reported 6,697,519 visitor arrivals in the second quarter of 2023, representing year-on-year growth of 322%. The average length of stay per visitor also rose by 0.2 days to 1.2 days. Total visitor spending (excluding gaming expenses) leapt by 355% year-on-year to MOP 17.5 billion.

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)

BOL’s revenues up 17% in Q2

Bangkok, 8th August: Earlier this week, Business Online (BOL), an online information service provider in Thailand, reported its financial results for the quarter ended 30th June 2023. Revenues during the quarter were US$6.1 million, a year-on-year increase of 17%. The company’s profits grew by 10%, reaching US$2.4 million.

BOL attributed the increase in revenues to both new and existing customers from its business information service and to its data management project.

CIOSH to launch in Thailand in 2024

Bangkok, 8th August: China International Occupational Safety & Health Goods Expo (CIOSH) will launch a new personal protective equipment (PPE) show in Thailand, Thailand International Exhibition for Personal Protective Equipment (CIOSH Thailand), next year. It will take place at Bangkok International Trade & Exhibition Centre (BITEC) from 5th to 7th June 2024.

To be held annually, CIOSH Thailand will be organised by the China Textile Commerce Association (CTCA), working with Messe Düsseldorf (Shanghai) Co., Ltd. (MDS) and Messe Düsseldorf Asia Pte Ltd. (MDA).

330+ exhibitors at Nanjing Sports Carnival 2023

Nanjing, 9th August: Nanjing Sport Carnival 2023 was held at Nanjing International Exhibition Center from 4th to 6th August 2023, featuring a total of 336 exhibitors, and welcoming some 13,000 trade visitors and sport enthusiasts.

Covering an exhibition area of 30,000 m2, Nanjing Sport Carnival 2023 showcased categories including camping, outdoor sports, water sports, urban sports, cycling, running and others. More than 100 support forums and activities were held during the carnival.

Food Expo’s Trade Hall renamed as Food Expo PRO

Hong Kong, 8th August: The Hong Kong Trade Development Council (HKTDC) will open its Food Expo, with the Trade Hall being renamed as Food Expo PRO.

Food Expo, Beauty & Wellness Expo, and Home Delights Expo will run from 17th to 21st August at the Hong Kong Convention and Exhibition Centre (HKCEC). While Food Expo PRO will be held with the returning Hong Kong International Tea Fair, running from 17th to 19th August. More than 1,700 exhibitors at the five events will provide a one-stop sourcing and shopping platform for trade buyers and the public to enjoy global cuisines and lifestyle products.

Quick takes

Cvent sees positive outlook for MICE industry

The latest edition of the bi-annual Cvent Planner Sourcing Report for the Asia, Australia and the Middle East & Africa regions is pointing to strong momentum across the business events industry. Correspondingly, 90% of planners in Asia, 88% in Australia, and 79% in the Middle East & Africa are expecting an increase in their event budgets in 2023.

Singapore MICE industry creating rich local experiences

Large-scale venues in Singapore are working together with the community to spread economic benefits. Looking beyond selling space, venues are seeking to create richer experiences for delegates and visitors that offer a broader impression of Singapore – partnering not only with nearby hotels, but also including attractions in the area such as Gardens by the Bay and the National Gallery.

Live Group goes live in Singapore

London-based global event managers Live Group have newly opened an office in Singapore and appointed Dwirt J. Ang as commercial director and Qinxin Khoo as client strategy director. The two new directors will spearhead Live Group’s expansion in the Asia Pacific region.

Easyfairs wins the 2023 UFI HR Award

UFI, the Global Association of the Exhibition Industry, has named Easyfairs as the winner of the 2023 UFI HR Award. Easyfairs was chosen for their innovative retention and recruitment strategies that highlighted some of the many initiatives undertaken to conquer the labour market, enhance employee experience and thrive in the war for talent.

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)

UFI Asia-Pacific Conference to be held in Macau in 2024

Paris/Macau, 27th July: UFI, the Global Association of the Exhibition Industry, announced it will hold its 17th UFI Asia-Pacific Conference in Macau, running from 7th to 8th March 2024.

The conference, hosted by the Macau Fair & Trade Association (MFTA), will be open to all exhibition industry professionals. The two-day conference will feature expert panels and keynote sessions from exhibition industry leaders, tackling hot topics and identifying opportunities in the APAC region.

Pre-registration is open for the 2024 UFI Asia-Pacific Conference at https://www.ufiasia.org/.

Informa Markets’ profit jumps 139% in first half of 2023

London, 27th July: Last week, London-listed Informa PLC released its financial results for the six months ended 30th June 2023. Revenues in the first half were £1.5 billion (US$1.9 billion), representing an underlying increase of 32%. Adjusted operating profit was £414 million (US$522 million), representing growth of 57%.

Informa’s event business, Informa Markets, generated revenues of £759 million (US$957 million) during the period, an increase of 64%. Informa Markets posted an adjusted operating profit of £241 million (US$304 million), up 139% year-on-year. Informa Markets hosted about 150 major live events, attracting over 120,000 exhibitors and more than 5 million attendees, with revenues tracking ahead of 2019.

RELX’s exhibitions business up 194% in profit

London, 27th July: Last week, RELX Group plc, parent company of RX Global (formerly Reed Exhibitions), reported its financial results for the six months ended 30th June 2023. Group revenues were £4.5 billion (US$5.7 billion) in the first half of the year, representing growth of 8%. Its adjusted operating profit increased by 16%, reaching £1.5 billion (US$1.9 billion).

RELX’s exhibition business generated revenues of £545 million (US$687 million), representing a year-on-year growth of 27%. Its adjusted operating profit was £173 million (US$218 million), representing an impressive 194% increase over the previous year.

HKCEC wins the 2023 UFI Operations & Services Award

Paris, 1st August: UFI, the Global Association of the Exhibition Industry, recently announced the Hong Kong Convention and Exhibition Centre (Management) Limited (HML) won the 2023 UFI Operations & Services Award.

The theme for this year’s award was “Successful examples of operational measures to reduce the carbon footprint of trade fairs and events”, and the 2023 UFI Awards winners will share their projects at the 90th UFI Global Congress in Las Vegas, running from 1st to 4th November 2023.