SEEC Media posts larger loss

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Hong Kong, 30th August:  Last month, SEEC Media Group, a Hong Kong-listed media company, announced its financial results for the first half of 2024. Revenues in the six-month period were US$1.96 million, a decrease of 30% year-on-year. The company recorded a loss of US$3.3 million in the first half of 2024, compared with a loss of US$1.1 million in the same period of last year.

About 47% of SEEC’s total revenues were generated through its provision of advertising services, amounting to US$919,000. This segment fell 21% year-on-year. Management stated that drop was due to the expiry of some exclusive advertising contracts and weakness in the print media advertising business in China.

Sino Splendid narrows loss

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Hong Kong, 30th August: Recently, Hong Kong-listed company Sino Splendid (formerly China.com) has released its results for the six months ended 30th June 2024. Revenues during the period were US$2.4 million, representing a year-on-year decrease of 2.4%. The company did manage to narrow its losses from US$1.7 million in the first half of 2023 down to a loss of US$768,000 in the first half of this year.

The company attributed the decrease in revenues to very weak performance of its travel media business, which dropped 85% from last year. In terms of other business segments, more than 96% of Sino Splendid’s revenues were generated by its financial magazine & other media business, amounting to US$2.3 million. The remaining revenue was generated by its money lending business (US$56,000), and its travel media business (US$31,000).

Quick takes

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New stadium to open in Hong Kong in 2025

Hong Kong will have a new stadium next year The Kai Tak Sports Park will be located at the old airport at Kai Tak. It features 50,000 seats in the stadium complete with retractable roof and corporate boxes. Hong Kong’s Chief Executive, John Lee, wants the stadium to be open by March next year to host the Hong Kong Sevens.

Alibaba’s shares included in stock programs

China’s leading e-commerce company, the Alibaba Group, announced the company’s shares trading on the Hong Kong Stock Exchange (HKEx) will be part of the Shanghai-Hong Kong Stock Connect program and the Shenzhen-Hong Kong Stock Connect program. Allowing the shares to be traded in China.

Messe Düsseldorf combines Asian healthcare fairs

Messe Düsseldorf announced plans to combine its seven Asian healthcare trade fairs under the umbrella of Medicare Asia. In addition, the company also announced a new partnership with KAOUN, organizer of GITEX, a leading tech start-up show in Dubai. GITEX Digi-Health 5.0 Asia will be held alongside MEDICAL FAIR ASIA and MEDICAL FAIR THAILAND.

UFI announces theme of 91st Global Congress

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Paris, 3rd September: UFI, The Global Association of the Exhibition Industry, will host its annual Global Congress in November in Cologne, Germany. The theme will be “Changes to Chances”.

The 91st UFI Global Congress will be hosted by Koelnmesse, the event will run from 20th to 23rd November 2024. Under this theme, the congress will examine the changes happening in the world and tackle the question how these changes will provide opportunities and changes for the exhibition sector.

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

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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

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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

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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

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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.

823 events held at HKCEC in FY2023/24

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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

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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

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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

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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

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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.

700+ MICE events in Macau in first half

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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

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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

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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.