DLG’s revenues up, but profits down in first half

Shanghai, 30th August: Last week, DLG Exhibitions & Events (formerly Shanghai Lansheng Corporation) reported its financial results for the six months ended 30th June 2024. Revenues in the first half of 2024 were US$81 million, representing a year-on-year increase of 4.4%.

However, the company’s net profit dropped 57% year-on-year, down to US$11 million in the first half of 2024. Diluted earnings per share in the first half of the year were RMB 0.11 (US$0.015).

Made-in-China.com’s profits up 23% in first half

Nanjing, 31st August: Shenzhen-listed Focus Technology, which owns and operates the B2B trading platform Made-in-China.com, announced its financial results for the six months ended 30th June 2024. Revenues were US$109 million, representing year-on-year growth of 7.4%.

Profit in the first half of 2024 increased by 23% year-on-year, reaching US$32 million. Diluted earnings per share in the first six months of the year were RMB 0.7385 (US$0.102).

Netsun posts loss in first half

Hangzhou, 30th August: Last month, Shenzhen-listed Zhejiang Netsun, a B2B e-commerce platform, released its financial results for the six months ended 30th June 2024. The company’s revenues were US$34 million during the period, representing an increase of 10% over the first half of 2023.

However, the company posted a loss of US$421,000 in the first half of 2024, compared with a profit of US$1.6 million in the first half of 2023. The company attributed the loss to more than expected credit impairment losses.

Quick takes

Kai Hattendorf resigns as UFI CEO

After almost ten years as UFI’s CEO, Kai Hattendorf last week announced that he will leave the role at the end of 2024. Under his leadership, UFI posted remarkable growth and expansion in its membership. Kai strengthened and expanded many of the key areas of UFI’s activities: research, education, advocacy and networking.

Messe Berlin appoints new Senior Vice President

International exhibition organiser, Messe Berline, announced the appointment of Igor Palka as its new Senior Vice President, effective September 2024. In the new role, he will manage the Tech portfolio, New Business Development, the Business Insights Unit, and oversee all the company’s foreign representatives.

AEO appoints Rachel Swann as New Chair

The Association of Event Organisers (AEO) appointed its new chair, Rachel Swann, chief operating officer of the energy division at dmg events. She will focus on Future Proofing the AEO for the next generation for the next year.

in-cosmetics Korea 2024 with record attendance

Co-located with Intercharm, RX Global’s in-cosmetics Korea 2024 concluded at COEX in Seoul. The event attracted over 16,700 visitors, which represents 30% higher attendance than the 2023 edition.

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 2024)

823 events held at HKCEC in FY2023/24

Hong Kong, 27th August: During the fiscal year 2023-2024 (from July 2023 to June 2024), the Hong Kong Convention and Exhibition Centre (HKCEC) hosted a total of 823 events, welcoming over 7.3 million of attendance.

Of the 823 events, 122 were exhibitions, 81 were international and local conferences, the remaining were corporate meetings, banquets and entertainment events. Among the exhibitions and conferences, 14 were new exhibitions and 20 were new conferences, which were held at the HKCEC for the first time.

Baidu’s profit up 5% in Q2

Beijing, 22nd August: Last week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th June 2024. Revenues for the quarter were US$4.7 billion, flat with the second quarter last year. The company recorded year-on-year profit growth of 5%, reaching US$755 million in the quarter.

Baidu also reported its financial results for the six months ended 30th June. Revenues in the first half of 2024 were US$9.0 billion, flat with the same period of last year. Profit in the period also flat with the previous year, amounting at US$1.5 billion. Diluted earnings per share in the first half of the year were RMB 3.74 (US$0.51).

HC reduces loss in the first half

Hong Kong, 23rd August: Hong Kong-listed HC Group has recently released its interim results for the six months ended 30th June 2024. The company’s revenues dropped 33% year-on-year, down to US$813 million. However, the company’s net loss decreased from US$112 million in the first half of 2023 to US$7.6 million in the first half of this year.

In terms of business segment, more than 97% of HC Group’s revenues were generated from its smart industries segment, amounting to US$795 million. Revenues from this segment decreased by 26% from the first half of 2023. The remaining revenues were contributed by HC’s technology-driven new retail segment (US$17 million), which dropped 88% year-on-year.

CCID Consulting records increases in revenues and profits

Beijing, 23rd August: Also last week, CCID Consulting, a research and information service provider in China, announced its financial results for the first half of 2024. Revenues were US$16.7 million, up 23% from the first half of 2023. The company posted a year-on-year growth 36% of its net profit, reaching US$5.3 million. Earnings per share in the six-month period were RMB 0.0593 (US$0.0082).

More than 64% of CCID’s revenues were generated from its Decision-making consulting services, amounting to US$10.8 million. This segment decreased by 2.8% year-on-year. The second largest business segment was CCID’s Science and technology innovation platform services, generating revenues of US$3.5 million, and accounting for about 21% of the company’s total revenues. This segment generated just US$893,000 in the first half of 2023. The remaining revenues were generated from its Data platform services (US$2.5 million), which was up 57% over the same period last year.

Quick takes

Legends completes acquisition of ASM Global

Legends announced its acquisition of ASM Global, and recently the company announced the completion of the acquisition. Under the acquisition, the companies will provide a data-driven, customizable solution for venue operations and revenue generation focused on delivering exceptional fan and guests experiences in the sports, entertainment, attractions, conventions, and leisure industries.

MyCEB appoints Acting CEO

Malaysia Convention & Exhibition Bureau (MyCEB) appointed the first woman, Miss Tan Mei Phing, to step into the chief executive role as the Acting Chief Executive Officer, effective 20th August 2024. In her new role, she will oversee the strategic direction, financial planning, and operational executive of MyCEB’s initiatives.

UFI’s CEO Kai Hattendorf to step down

UFI, The Global Association of the Exhibition Industry, announced its CEO, Kai Hattendorf, who has been CEO since 2015, will leave UFI at the end of 2024. The UFI leadership team is managing the process of recruiting the next CEO, led by President, Geoff Dickinson, and supported by COO, Adeline Vancauwelaert, and Hattendorf.

Alibaba’s dual primary listing in Hong Kong and New York

China’s leading e-commerce company, the Alibaba Group announced the conversion of the second listing status to a primary status of the Hong Kong Stock Exchange, effective 28th August 2024. The company is now a dual primary listed company on the Hong Kong Stock Exchange and the New York Stock Exchange.

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 2024)

Lions International Convention return to Hong Kong

Hong Kong, 20th August: Lions International Convention will return to Hong Kong in 2026, after hosting in 1992 and 2005.

Lions International Convention is one of the world’s largest service club events. It is expected to attract 20,000 attendees from over the world, to the AsiaWorld-Expo (AWE), in July 2026.

700+ MICE events in Macau in first half

Macau, 16th August: Last week, Macau’s Statistics and Census Service (DSEC) reported its MICE statistics for the first half of 2024. Macau held a total of 702 MICE events in the first half, which represents 180 events more than the same period in 2023. However, the total number of participants and attendees dropped 29% year-on-year in the six-month period, down to 479,000.

Of the 702 events, 658 were meetings and conferences, up by 166 from the first half of 2023. The total number of participants at meetings and conferences increased by 4.6%, reaching 74,400 participants. A total of 26 exhibitions were held in the first half of 2024, which was two more than the same period last year. However, the number of attendees decreased by 33%, down to 398,900. The total gross area occupied by these exhibitions was 184,400 m2.

Cairns to host high-profile conferences

Cairns, 16th August: Over the last months, Cairns Convention Centre (CCC) has hosted a series of conferences, which brought significant economic benefits to Cairns. In addition, the venue estimates to attract over 21,000 delegates from Australia and overseas until June 2025.

In 2025, CCC will host Congress of the Asia Pacific Orthopaedic Association, providing scientific program and offering attendees cultural experience. Other major conferences to be held in the venue include: TravelManagers Australia Conference featuring Olympic Champion Cathy Freeman in September 2024; Australasian Genomic Technologies Association Annual Conference in October 2024; Australian Archaeological Association Annual Conference in December 2024; and Australian & New Zealand College of Anaesthetists Annual Scientific Meeting in May 2025.

Quick takes

ASM Global appoints Group Director of Arena Operations

ASM Global has appointed Meagan Walker as Group Director of Arena Operations, replacing Tim Worton. Meagan will lead the ASM Global arena network in Australia while supporting other arena venues in the region with a focus on event acquisition, operational planning for best practice patron experience and event delivery.

CEO of ICC Sydney steps down

Geoff Donaghy, Chief Executive Officer of ICC Sydney and Group Director – Convention Centres, ASM Global (APAC), will step down later this month. He joined ASM Global in 1994, and led various venues in the group.

500,000+ visits at HKTDC Food Expo and concurrent events

Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo and its concurrent fairs concluded with the total number of visits over 500,000. The overall spending capita was HK$1,615 (US$207). The five fairs featured some 1,860 exhibitors from 30 countries and regions.

CENTRESTAGE opens to public

CENTRESTAGE, the Hong Kong Trade Development Council’s (HKTDC) annual fashion extravaganza, will open its door at the Hong Kong Convention and Exhibition Centre (HKCEC), from 4th to 7th September 2024. The exhibition will be open to industry buyers and the public for the first time for all four days, providing an opportunity for fashion enthusiasts to explore and purchase from some 250 brands from 17 countries and regions, offering products for retail sale.

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 2024)

UFI: 2024 as record year for the exhibition industry globally

Paris, 8th August: UFI, the Global Association of the Exhibition Industry, has recently released its latest bi-annual Global Exhibition Barometer report, showing the exhibition industry will achieve record revenues globally in 2024.

According to the report, the 2023 revenue is expected to grow by 20% year-on-year, while the 2024 figure is expected to grow by 17%.

Alibaba Group’s revenue up, but profit down

Hangzhou, 15th August: Last week, Alibaba Group, China’s largest e-commerce company, announced its results for the quarter ended 30th June 2024. The company recorded revenues of US$33 billion, an increase of 4% year-on-year. However, the company’s profits dropped 27% year-on-year, down to US$3.3 billion. Diluted earnings per share for the three-month period were RMB 1.24 (US$0.17).

In terms of its business segment, about 43% of Alibaba’s total revenues were generated from its Taobao & Tmall Group, amounting to US$16 billion. Revenues from Taobao & Tmall’s China commerce wholesale business, primarily generated through 1688.com, were US$819 million, an increase of 16% over last year. The second largest business segment, the Alibaba International Digital Commerce Group generated revenues of US$4.03 billion, or 11% of total revenues. Alibaba International Digital Commerce’s international commerce wholesale business, primarily traded on Alibaba.com, generated revenues of US$771 million, up 12% year-on-year.

BOL’s revenue and profit down in Q2

Bangkok, 8th August: Earlier this month, Business Online (BOL), an online information service provider in Thailand, reported its financial results for the quarter ended 30th June 2024. Revenues during the quarter were US$5.4 million, a year-on-year decrease of 8.6%. The company’s profits dropped by 4.9%, amounting at US$2.2 million.

BOL also announced its results for the six months ended 30th June. Revenues in the first half of 2024 were US$10 million, down 6.4% year-on-year. Net profits in the six-month period decreased by 4.6%, down to US$3.98 million. Diluted earnings per share during the first half of the year were Baht 0.18 (US$0.0049).

Meorient’s figures drop

Shanghai, 7th August: Shenzhen-listed exhibition organiser, Meorient, recently announced its financial results for the six months ended 30th June 2024. The group’s revenues in the first half of 2024 decreased by 26% year-on-year, down to US$36 million.

The company posted a net profit of US$5.6 million, a year-on-year decline of 47%. Diluted earnings per share in the six-month period were RMB 0.18 (US$0.025).