China, 14th June: Earlier this month, GL events announced that the company had signed a memorandum of understanding to acquire a majority stake in ZhongZhiXing Group (ZZX), a company specialised in “event engineering and logistics” as well as event services. ZZX also offers digital solutions its clients.
ZZX, a member of the China Association for Exhibition Centres (CAEC) and Shenzhen Association of Exhibition Centres, was founded by Mr. Wang Keqiang in 2016 in Shenzhen. The group employs more than 200 staff in seven cities – in Shenzhen, Nanning, Kunming, Chengdu, Dongguan, Zhuhai and Guangzhou. ZZX’s revenues in 2019 are forecast to reach €19 million (US$22 million).