Alibaba’s Ele.me merges with Baidu Deliveries

Beijing, 24th August: Ele.me, a Chinese online food-delivery company owned by the Alibaba Group, has merged with Baidu Deliveries. Financial details of the deal were not disclosed. The transaction represents a significant consolidation in China’s highly competitive online-to-offline (O2O) food delivery market.

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MCEC expansion underway

Melbourne, 20th August: According to the Melbourne Convention and Exhibition Centre (MCEC), its expansion project is well underway as the supporting steel structure is now in place. The expansion will cost more than $A300 million (US$237 million) and will be underwritten by the Victorian Government. In addition to the 20,000 m2 expansion of MCEC, the project will also include a new hotel and a car park.

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World’s largest watch & clock fair to feature 820+ exhibitors

Hong Kong, 29th August: The 36th Hong Kong Watch & Clock Fair will open next week, featuring, more than 820 exhibitors from 24 countries – making it the largest event of its kind, according to the organiser. The event will also feature approximately, 150 premium international watch brands and designer collections in five thematic zones: World Brand Piazza, Renaissance Moment, Chic & Trendy, Craft Treasure and Wearable Tech.

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HC International’s revenues up 188%

Beijing, 28th August: Earlier this week, Hong Kong-listed HC International reported its interim results for the six months ended 30th June. The company’s revenues jumped 188% in the period, reaching US$198 million. Profit in the first half was US$16 million which represents an increase of 270%. Diluted earnings per share were RMB 0.1039 (US$0.015).

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SEEC Media records large loss

Hong Kong, 31st August: Hong Kong-listed media company, the SEEC Media Group, announced its financial results for the first half of 2017. Revenues were US$17 million, which represents year-on-year growth of 31%. However, the company recorded a loss of US$26 million, compared with a loss of just US$2.5 million in the same period last year.

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