Meorient’s profit up 274% in FY2023

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Hangzhou, 27th March: Earlier this week, Meorient, a Chinese exhibition organiser listed in Shenzhen, released its results for the year ended 31st December 2023. Revenues jumped 140% year-on-year, reaching US$118 million.

The company posted a net profit of US$27 million in the year, growing 274% over the previous year. Diluted earnings per share in 2023 were RMB 1.23 (US$0.1734). In 2023, Meorient organised multiple overseas exhibitions with a total net area of 120,000 m2, featuring 8,800 overseas exhibitors and 13,000 booths.

Sino Splendid’s revenue drops 36% in 2023

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Hong Kong, 26th March: Hong Kong-listed Sino Splendid (formerly China.com) has announced its results for the financial year ended 31st December 2023. The company reported revenues of US$5.4 million in the year, down 36% compared with the figure in 2022. The company’s loss also increased from US$5.5 million in 2022 to US$6.3 million in 2023.

More than 90% of Sino Splendid’s revenues were generated from its financial magazines and other media services, amounting to US$4.9 million, down 18% year-on-year. While its travel media business dropped 84% year-on-year, down to just over US$300,000.

HC’s revenues up 10% in 2023

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Hong Kong, 26th March: HC Group, an online B2B information services provider in China, reported total revenues of US$2.3 billion for the year ended 31st December 2023. This represents an increase of nearly 10% year-on-year.

Despite the rise in revenues, the company’s net loss widened from US$33 million in 2022 to US$239 million in 2023. The company attributed the loss to a write-off of goodwill and intangible assets related to its technology business as well as a loss from discontinued business operations.

Alibaba withdraws Cainiao IPO

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Hong Kong, 26th March: The leading e-commerce company in China, the Alibaba Group, announced plans to withdraw the initial public offering (IPO) and the listing application of its logistics subsidiary, Cainiao Smart Logistics Network Limited. The company was expected to be listed on the Hong Kong Stock Exchange (HKEX).

At the same time, Alibaba also announced plans buy the outstanding shares from the minority shareholders of Cainiao. Alibaba will pay US$0.62 per share, which represents a total consideration of up to US$3.75 billion. Alibaba currently owns approximately 64% of fully-diluted equity interest in Cainiao.

Quick takes

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AIME 2024 generates A$330m in new business

The Asia Pacific Incentives and Meetings Event (AIME) released an analysis of the 2024 edition, with business traded between exhibitors and buyers estimated to be worth more than A$330 million (US$215 million) over the next 12 months. More than 570 exhibitors and 4,000 visitors attended the show.

Messe Düsseldorf India announces new management team

Messe Düsseldorf India (MDI) announced Managing Director Thomas Schlitt will step down, while Millie Arthur Contractor and Ajay Kumar Gulati will be new General Managers, effective 1st April 2024.

HKTDC launches Smart Lighting Expo

The Hong Kong Trade Development Council (HKTDC) will open four major technology exhibitions in April, the inaugural HKTDC Smart Lighting Expo will join be added to the portfolio. The collocated International Lighting Fair, InnoEX and Electronics Fair attract 4,300 exhibitors from more than 20 countries and regions.

Terrapinn acquires hotel and accommodation show in Australia

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Australia, 18th March: Terrapinn, global media and event company, announced the company has acquired NoVacancy Expo, a leading trade show for the hotel and accommodation industry in Australia, from National Media. Financial details for the transaction were not disclosed.

NoVacancy Expo was launched in 2018, serving hotel and accommodation market. The show provides a platform for the ecosystem of suppliers, buyers and investors to seeking the latest solutions in technology, in-room, sustainability, furniture & design, operational, and guest experience.

Singapore builds new landmark at Marina Bay area

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Singapore, 21st March: Singapore’s Marina Bay area will have a new landmark, the NS Square, a space that takes in a national service-themed gallery, venues for large-scale events, and public recreational facilities. NS Square is expected to be available in 2027.

NS Square will replace the Marina Bay floating platform. The gallery will showcase the history of the Singapore Armed Forces, the Singapore Police Force and Singapore Civil Defence Force national servicemen through multimedia platforms and exhibits.

VNU Group launches Horti Agri Next Asia in 2025

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Bangkok, 12th March: International exhibition organiser, VNU Group, in collaboration with the VIV Worldwide network, announced to launch Horti Agri Next Asia (HAN Asia) 2025, showcasing the latest products, innovations, and advancements in horticultural food production, landscaping, controlled environment practices, environmental conservation, and agriculture.

The new show will take place from 12th to 14th March 2025, at IMPACT Muang Thong Thani, and it will co-locate with VIV Asia and Meat Pro Asia 2025. The co-located shows will be able to serve the entire livestock stock.

Melbourne to host of 2025 UFI Asia-Pacific Conference

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Melbourne, 14th March: Melbourne Convention and Exhibition Centre (MCEC) will host the 2025 UFI Asai-Pacific Conference, with the support of the Melbourne Convention Bureau (MCB).

The 2024 UFI Asai-Pacific Conference was held in Macai, attracting close to 300 industry leaders from 22 countries and regions. The 2025 conference will be held in Melbourne, running from 13th to 14th February, following Asia-Pacific Incentives and Meetings Event (AIME). Australia Business Events Association (ABEA) will also host a meeting at the MCEC in the same week.

Nearly 300 delegates attend UFI Asia-Pacific Conference in Macau

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Paris/Macau, 12th February: Last week, UFI, The Global Association of the Exhibition Industry, concluded its annual UFI Asia-Pacific Conference in Macau, which was attended by nearly 300 delegates from 20 countries and regions. Hosted by the Macau Fair & Trade Association, the event was held from 7th to 8th March at The Parisian Macao, and was co-located with the inaugural Asian edition of the Event Directors Summit.

Over the two days of the conference, speakers covered key issues such as the rise of AI and its expected impact on exhibitions, the importance of implementing sustainable best practices, the evolution of event formats and exciting opportunities emerging in China’s Greater Bay Area.

Informa Markets’ revenues up 66% in FY2023

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London, 8th March: Informa PLC released its full year results for the year ended 31st December 2023, reporting revenues of £3.2 billion (US$4.1 billion), which represents underlying growth of 30%. Adjusted operating profits were £854 million (US$1.1 billion), representing underlying growth of 59%.

Informa’s events business, Informa Markets, reported revenues of £1.6 billion (US$2.0 billion), with underlying growth of 66%. Adjusted operating profits were £461 million (US$586 million). That figure is up 166% compared with the previous year.

GL events revenues up 9%

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Lyan, 6th March: GL events has also released its financial results for the year ended 31st December 2023. It reported revenue growth of 9%, reaching €1.43 billion (US$1.6 billion).

In terms of business sectors, more than 57% of revenues were generated from GL events Live, with revenues of €825 million (US$911 million), down 3% year-on-year. The second largest sector was GL events Venues, generating revenues of €393 million (US$434 million), representing year-on-year growth of 21%. Remaining revenue of €210 million (US$231 million) was generated by GL events Exhibitions, which jumped 51% over the previous year.

Business travel with technologies in 2024

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Worldwide, 6th March: Post pandemic business travel has fully recovered, returning to 2019 levels. However, the industry has much changed over the past five years, with new technologies available to deliver an enhanced experience when travelling for work.

The Globetrender report identifies seven trends that will shape and define business travel in the coming 12 months:

1)    AI PAs; 2)    Executive field trips; 3)    Objective stacking; 4)    Blended itineraries; 5)    Net zero heroes; 6)    Digitised expenses; 7)    Power networking.

Quick takes

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VALVE WORLD EXPO India premieres at the Bombay Exhibition Centre

The inaugural edition of VALVE WORLD EXPO India will be held from 19th to 20th September 2024 at the Bombay Exhibition Centre, catering to the oil, gas, energy, petrochemical, water and wastewater sectors. The event is being organised and staged by Messe Dusseldorf India and its partner Global Flow Control.

MyCEB and BE Sarawak promote business events in Malaysia

Malaysia Convention & Exhibition Bureau (MyCEB) and Business Events Sarawak (BE Sarawak) are joining forces to promote Malaysia as a prime destination for business events. At a recent event in held in Kuching, Sarawak, around 100 stakeholders including industry representatives and relevant government bodies, focused on the benefits of MyCEB’s innovative MyTripleE incentive campaign.

CEIR reports continued rebound in US B2B exhibition industry

The Center for Exhibition Industry Research (CEIR) reported that the CEIR Total Index – a measure of overall exhibition performance – continues to recover, surging 15% from a year ago. CEIR teamed up with Tourism Economics, an Oxford Economics Company, as its consulting partner to produce the research.

TCEB wins bids for international conventions

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Thailand, 28th February: The Thailand Convention & Exhibition Bureau (TCEB), in collaboration with Thai professional associations and organisations, have secured bids to host 10 large-scale international conventions, during the first five months of the fiscal year 2024.

Of the 10 conventions, six are medical conventions and the others are engineering, sustainable development, and women’s rights. It is expected these conventions will attract more than 20,000 delegates, generating 17.3 billion baht (US$482 million) of economic impact.

Coex open new area, The Platz

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Korea, 23rd February: Coex opened its newest sustainable exhibition space, The Platz. The new exhibition space features an open exhibition area of 2,224 m2, a dedicated lobby and reception area of 646 m2, and private meetings and conference rooms.

The Platz is located on the second floor of Coex, which is east access to event halls on the first floor and conference rooms on the third floor. Therefore, it is an ideal space for smaller exhibitions, concurrent events, art shows, pop-up events, and VIP events.