Quick takes

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Canton Fair goes online

For the first time in more than 50 years, there will be no Canton Fair Spring edition. This week, organisers announced that instead there will be an online version held in June. Details to follow.

That’s China article

HKTDC online events and postponements

The HKTDC has announced the Hong Kong International Jewellery Show and Diamond, Gem & Pearl Shows will now take place from 3 to 6 August 2020. 

Jeweller magazine article

Venue in Manila transforms into COVID-19 treatment centre

Like many venues around the region, the World Trade Centre Metro Manila is using its floor space to tread mild cases of the virus.

ABS article

Dogs and cats quarantined in Hong Kong

Even the family pet is ending up in quarantine as an extra precaution in Hong Kong!

The HK Standard article

Quick takes

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UFI launches online content

In the face of the on-going COVID-19 crisis, UFI has launched UFI Connects. It is a free online platform with content ranging from interviews to panel sessions to webinars.

UFI website

China’s e-commerce giants are delivering

This is a good Harvard Business Review article outlining how China’s e-commerce giants have stepped-up since the COVID-19 outbreak – especially Alibaba and JD.com.

HBR article

Macau COVID-19 cases at 41, but thousands in quarantine

The confirmed cases in Hong Kong and Singapore have spiked to over 800 and over 1,000, respectively, but Macau is holding steady at just over 40. However, over 2,600 people are being held under observation in hotels in the territory.

ASGAM article

HC Group posts loss in 2019

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Hong Kong, 27th March: Last week, the HC Group, an online B2B information services provider in China, reported total revenues of US$2.1 billion for the year ended 31st December 2019. That represents growth of 41% year-on-year. The revenue growth was mainly from HC’s smart industries business managed on its B2B trading platforms.

However, the company recorded net loss of US$66 million in the year, compared with a net profit of US$93 million in 2018. The company attributed the loss to: (i) customers were more cautious in terms of their spending; (ii) a one-time provision for goodwill and intangible assets impairment; and (iii) the company’s rising spend on R&D.

Sino Splendid reduces loss in 2019

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Hong Kong, 31st March: Hong Kong-listed Sino Splendid (formerly China.com) recently announced its full year results for the year ended 31st December 2019. The company reported revenues of US$14 million, an increase of 14% year-on-year. The company narrowed its net loss in 2019 down to US$342,000, compared with a loss of US$3.7 million in the previous year.

More than 71% of Sino Splendid’s revenues were generated from its Travel Media Business, amounting to US$9.9 million. That represents year-on-year growth of 8%. The remaining revenues were generated by Sino Splendid’s financial magazine business (US$3.5 million) and its money lending business (US$393,000).

Messe München Shanghai and Shanghai Donnor to cooperate

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Shanghai, 31st March: Last week, Messe München Shanghai, the China-based subsidiary of Messe München, announced that the company had signed an agreement to establish strategic cooperation with Shanghai Donnor Exhibition, a large exhibition organiser in China.

Under the terms of the cooperation, the two companies will co-locate some of their events within the same industry. Messe München Shanghai and Shanghai Donnor also agreed to pursue innovations on the show floor and to integrate resources from both sides in order to facilitate industry recovery after the COVID-19 outbreak has ended.

CIBS postponed, but plans to launch online B2B matchmaking

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Shanghai, 2nd April: CIBS – the China (Shanghai) International Boat Show, organised by Shanghai Sinoexpo Informa Markets, has been postponed. The show has been moved from late March to late June. The new dates are 22nd to 24th June. The postponement was as a result of the on-going impact of the COVID-19 outbreak.

CIBS will be held at the same venue, the National Exhibition and Convention (Shanghai) (NECC). Shanghai Sinoexpo Informa Markets reported that more than 100 boat categories will be covered. The event is expected to feature more than 55,000 m2 of exhibitors.

HKTDC to launch Spring Virtual Expo

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Hong Kong, 26th March: Due to the outbreak of the COVID-19 virus, all trade fairs and events in Hong Kong have been cancelled or postponed since early February. In response to this on-going crisis, the Hong Kong Trade Development Council (HKTDC) will launch a month-long Spring Virtual Expo beginning on 1st April.

According to the HKTDC, the digital exhibition will allow Hong Kong businesses to capture orders during the traditional spring peak sourcing season which in Hong Kong runs from March to May. The HKTDC also maintains that the new channel will allow their exhibitors to establish and maintain contact with global buyers. The online marketplace, HKTDC.com Sourcing, features some 130,000 suppliers (with data verified by third-party organisations) and more than two million international buyers, according to the HKTDC.

Quick takes

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Canton Fair cancelled, but venue in Shenyang venue will open

There was some good and bad news from China this week. The Canton Fair (finally) officially announced that the Spring Edition will be postponed. New dates have yet to be announced. The original dates were 15th April to 5th May.

However in northern China, Shenyang New World Expo, stated that the venue has received approval from the Liaoning provincial government to begin hosting exhibitions again. The first one will be organised by Shanghai Modern on 27th to 29th April. Fingers crossed that this is the first of many announcements like this.

SCMP article on Canton Fair

Shenyang New World Expo website

Softbank to sell part of its stake in Alibaba

After his WeWork disaster, Masayoshi Son will sell up to US$41 billion in assets including about US$14 billion of Softbank’s stake in Alibaba – that amounts to about 10% of the company long-time stake in Alibaba.

Barrons article

UFI updates its economic impact estimate of COVID-19

UFI, the global association of the exhibition industry, estimates that US$145 billion in contracts will not be concluded as a result of events not taking place due to COVID-19.

UFI press release

Quick takes

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May is now likely a write-off for events in Asia

With the developments in the U.S. and Europe in the past week, events such as TAITRA’s Taipei Cycle have been cancelled. More events in June and July are sure to follow in the weeks ahead.

Bicycle Retailer

Borders close across Asia

Countries and territories from Hong Kong to Macau to Singapore to Malaysia tighten entry restrictions and speculation begins about how long it will last and which events will be affected.

MacauHub article

WCCF Tech article

ChannelNewsAsia article

TTG talks to venues shuttered across the region

All across the region, venues are now closed. TTG checks in with some venue managers.

TTG article

Las Vegas begins close properties

As Macau did at Chinese New Year, Las Vegas properties announce closures.

HospitalityNet article

Macau hosts 1,500+ MICE events in 2019

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Macau, 6th March: Earlier this month, Macau’s Statistics and Census Service (DSEC) released its MICE statistics for the fourth quarter and the full year of 2019. A total of 1,536 MICE events were held in Macau during the year. That is 109 events more than in 2018. However, the total number of participants and attendees dropped modestly down 5.4% to about 2,000,000.

A total of 1,459 meetings and conferences were held in Macau in 2019. That is 117 events more than the previous year. The total number of participants was 292,000, a decrease of 1.4% year-on-year. 58 exhibitions were held during the year, two exhibitions less than in 2018. The number of attendees declined 4.3% to 1,689,000 attendees. However, the total gross size occupied by these exhibitions grew by 6.4%, reaching 370,000 m2.