Pico Thailand returns profit

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Bangkok, 13th September: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2024. Revenues in the quarter were US$12.4 million, which jumped 156% year-on-year. In the same period, the company posted a net profit of US$418,000 compared with a loss of US$225,000 in the same quarter in 2022.

The company attributed the increase in revenues to lots of marketing activities were held in the period.

Appointment of YB V. Sivakumar as a Chairman of MyCEB

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Putrajaya, 13th September: Malaysia Convention & Exhibition Bureau (MyCEB) has appointed YB V. Sivakumar, former minister of human resources, as its new Chairman, which effective 30th August 2024.

In the new role, Sivakumar will explore new opportunities to drive MyCEB’s progress. His focus includes strengthening Malaysia’s position as a premier destination for international business events, encouraging innovation by integrating the latest technology into event organisation, promoting our nation as a sustainable and eco-friendly destination for global business events, and developing local talent in staging Malaysia’s events scene.

Hong Kong to host world tourism summit

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Hong Kong, 12th September: The Hong Kong Tourism Board (HKTB) announced World Tourism Cities Federation (WTCF) to host its conference in Hong Kong in 2025. It is expected to attract 400 delegates from more than 40 countries and regions.

This is the first WTCF to bring its Fragrant Hills Tourism Summit to Hong Kong and it will be held in April, featuring keynote speeches, tourism showcases, tourism fairs and exhibitions, to promote co-operation among member cities and the travel trade from member regions.

Nineteen Group sells to private equity fund

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U.K., 19th September: U.K.-based exhibition organiser, Nineteen Group, was acquired by a private equity fund, Growth Partnership Fund, for about £225 million (US$297 million).

The new establish Growth Partnership Fund is led by Kline Hill Partners and co-led by Ares Management, and Phoenix Equity Partners, Nineteen’s original investor. According to media reports, the “continuation” fund will be worth £200 million (US$264 million), helping drive Nineteen’s growth and acquisition strategy.

Quick takes

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170+ delegates at UFI Americas Conference

UFI, The Global Association of the Exhibition Industry, concluded its 2024 UFI Americas Conference, bringing together over 170 exhibition industry leaders and stakeholders. Running from 10th to 12th September, at Cintermex, the conference was hosted by the Monterrey Convention & Visitors Bureau (OVC), featuring dynamic sessions, extensive networking opportunities, and a post-conference tour to showcase the vibrant cultural and landscapes of Monterrey.

PCEC appoints new General Manager

The Perth Convention and Exhibition Centre (PCEC) announced the appointment of Kendra Naidoo as its new General Manager. Kendra will oversee the PCEC’s leadership team and play a pivotal role in shaping the future of Perth’s premier business event venue. Kendra will replace Nigel Keen, who steps down from the position.

U.S. B2B exhibition industry slowdown in Q2

The Center for Exhibition Industry Research (CEIR) released its latest index results for the U.S. B2B exhibition industry under four metrics: exhibitors, attendance, net square footage and real revenues. In the second quarter of 2024, the overall index value was 87.7, compared to 100 in 2019, it dropped 2.3% compared to the second quarter of 2023.

GL events reports increase in revenues and profit

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Lyon, 4th September: Last week, GL events released its financial results for the six months ended 30th June 2024. The group reported revenues of €821 million (US$879 million), representing year-on-year growth of 19%. Net profit in the six-month period grew 11%, reaching €45 million (US$48 million).

In terms of business sectors, GL events Live generated revenues of €496 million (US$531 million), up 35% year-on-year. Meanwhile, GL events Venues, recorded revenues of €211 million (US$226 million), year-on-year growth of 18%.

GL events Exhibitions, however, recorded a 21% decrease in revenues, down to €113 million (US$121 million). The company attributed the decrease in revenues of GL events Exhibitions to a particularly strong post-COVID performance in the first half of 2023 and biennial effect (also in the first half of 2023).

Messe Frankfurt to launch new events in Thailand

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Thailand, 6th September: Messe Frankfurt (HK) Limited, will join force with Yorkers Trade & Marketing Service Company and GMTX to co-organise events targeting the electronics and automation technologies industries in the ASEAN region.

Intelligent Asia Thailand and Automation Thailand will run from 6th to 8th March 2025, at the Bangkok International Trade & Exhibition Centre (BITEC), showcasing solutions for electronics manufacturing and automation. In addition, SPS Stage Bangkok will be the first SPS brand in the region for the manufacturing sector. It is expected the events will attract about 300 exhibitors.

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.