Spring Canton Fair attracts 28,000 exhibitors

Guangzhou, 18th April: The Spring Edition of the Canton Fair opened on Monday this week in Guangzhou.  According to the organiser, more than 87,000 overseas buyers and 28,000 exhibitors will participate in the event. This despite trade and political tensions between China and the U.S. and to a lesser degree, Europe.

Media reports stated that buyers attending the Canton Fair from the U.S. are up more than 20% compared with to the Autumn Edition. Mix Meetings reports that “There was also increased interest from countries in ASEAN’s Regional Comprehensive Economic Partnership and the Middle East.”

Taipei launches MICE sponsorship programme

Taipei, 15th April: The Taipei City Government launched a sponsorship programme to attract international conferences, exhibitions, and incentive travel groups to the city.

Under the terms of the programme, applications will be evaluated based on the event’s scale and social impact. Events also need to fulfil specific criteria in terms of foreign participants and a local service enterprise or travel agency must be used for applying to the programme.

New MICE shows arrive in Singapore

Singapore, 11th April: Singapore will host two industry events in April, Business of Events and the Meetings Show Asia Pacific. The Business of Events, organised by PCMA Asia Pacific will take place at Marina Bay Sands.

The Meetings Show Asia Pacific is the regional new trade show – a geo-clone of the London-based, the Meetings Show. Meetings Show Asia Pacific 2024 is supported by Singapore Tourism Board (STB) and organised by Northstar Travel Group. It opened on 17th April at the Sands Expo and Convention Centre at Marina Bay Sands.

RX Japan launches new space exhibition

Japan, 17th April: RX Global’s subsidiary in Japan, RX Japan, will launch a new show, SPEXA, the Space Business Expo this month. The event will run from 24th to 26th April 2024 at Tokyo Big Sight – Japan’s largest exhibition venue.

According to the organiser, the new show will aim to “foster collaboration and innovation in the space industry, showing Japan’s commitment to advancing space exploration and technology.” The theme of SPEXA 2024 will be “Bridging Japan and the World’s Space Business.”

Quick takes

88,000 buyers at HKTDC’s spring tech shows

The Hong Kong Trade Development Council (HKTDC) concluded its two spring tech shows, InnoEX and Hong Kong Electronics Fair (Spring Edition) which attracted some 88,000 buyers from 139 countries and regions with about 3,000 exhibitors from 20 countries and regions.

Global Sources opens April 2024 shows

Global Sources opened its April 2024 Global Sources Hong Kong Shows on 11th April 2024, the first of three phases. The first phase, Global Sources Consumer Electronics, and Global Sources Electronic Components, featured some 4,000 booths. The second phase, featuring mobile electronics, home & kitchen, etc. is on this week. While the third phase, fashion, sports and outdoor gear will be held 27th to 30th April. BSG will report the numbers as they are published.

A lesson about venue-organiser event risks

Not an Asian story, but a well-written and thoroughly researched story about what can go wrong with organiser-venue joint ventures. (Short answer: A lot.) Good work by Mike Fletcher at Exhibition News.

More MICE competition between Singapore and Bangkok

A TTGmice article with details about the competition heating up between Singapore and Bangkok for MICE events. Both have strong government support, world-class venues, a good customer service culture and so on. Singapore maybe feeling the squeeze as the cost of doing business there has risen considerably since COVID.

Yen at record lows

This is an article about Singaporeans flocking to Japan for holidays due to the incredibly weak yen. The Japanese yen is now at 34-year lows trading at 155 yen to the US dollar. (Less than a decade ago, it was 80 yen to the US dollar.) If that trend holds, it could massively boost foreign participation at Japanese trade shows.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2024)

Messe Düsseldorf creates new regional hub in Asia

Singapore, 10th April: International exhibition organiser, Messe Düsseldorf, announced plans to separate its Asian business from its German headquarters. Messe Düsseldorf for Asia (MDfA) will combine its five Asian subsidiaries in one centrally coordinated entity.

The new company will be led by Regional Head Marius Berlemann (Managing Director of Messe Düsseldorf in China), Deputy Regional Head Gernot Ringling (Managing Director of Messe Düsseldorf Asia). Together with their team, they will centrally coordinate sales and attendee marketing for Messe Düsseldorf in Asia.

Marina Bay Sands plans expansion

Singapore, 5th April: Marina Bay Sands (MBS) has entered the final phase of design and programme enhancements for its planned expansion. The construction will begin in July this year and MBS’s management expects it to be completed by July 2029.

The expansion will include a luxury hotel tower with a sky roof, a 15,000-seat entertainment arena, additional MICE space, and new restaurants and bars. MBS will use the new arena to help attract top entertainers from Asia and around the world, and the additional MICE space to help attract more business events to MBS including exhibitions and conferences – several of which are wall-bound.

DLG Expo’s revenues up 84% in 2023

Shanghai, 11th April: Earlier this week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the year ended 31st December 2023. Revenues in the year were US$200 million. This represents a year-on-year increase of 84%. The company attributed the growth in revenues to a strong performance from its domestic exhibition business.

Net profit jumped 141% year-on-year, reaching US$31 million. Diluted earnings per share in 2023 were RMB 0.52 (US$0.073).

Quick takes

Hong Kong’s newest venue will have 50,000 seats

The Kai Tak Sports Park is scheduled to open in mid-2025. It will feature a 50,000-seat domed stadium and 10,000-seat indoor arena for sports and entertainment. ASM Global will manage the venue and have recently hired Matthew Lazarus-Hall to manage the entertainment business to be developed at Kai Tak Sports Park.

Biometric tech reshaping travel

A new white paper argues that touchless, highly efficient biometric technology is the answer for airports to securely cope with surging numbers of travellers. This technology could also transform registration at business events (in some countries).

New and renovated venues in multiple markets

Competition between venues is heating up. Three venues in Kuala Lumpur, Penang and Singapore are opening new facilities and refurbished meeting spaces. Other venues that have are expanded and improving supporting facilities include AsiaWorld-Expo in Hong Kong and Marina Bay Sands in Singapore.

Tier two Chinese cities attracting international incentives

So says TTGmice. This article reports that incentive trips to China are making a comeback in 2024 due to relaxed visa policies and the relative affordability of second-tier destinations. TTG reports that cities such as Kunming, Chengdu, Xi’an and Chongqing are attracting incentive groups.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2024)

Visits at Australian business events spent US$14b in 2023

Australia, 28th March: Tourism Research Australia (TRA) has published some interesting business events data as part of its official statistics. For example, the result of its Domestics Visitor Survey (NVS) and International Visitor Survey (IVS) are included in the data.

In 2023, visitors travelling for business events spent A$20.9 billion (US$14.2 billion) in Australia, with A$2.6 billion (US$1.8 billion) coming from international visitors. International visitor numbers in 2023 were 742,000, which was 71% of the 2019 pre-COVID figure.

Pico Thailand returns profit in Q1

Bangkok, 1st April: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its results for the quarter ended 31st January 2024. Revenues during the quarter were US$7.9 million, representing a year-on-year increase of 19%.

The company posted a net profit of US$95,000 in the quarter, compared with a loss of US$210,000 in the same quarter of 2023. Earnings per share in the quarter were Baht 0.016 (US$0.00045).

SEEC Media narrows profit in FY2023

Hong Kong, 28th March: Last week, SEEC Media, a Chinese B2B media group, released its financial results for the year ended 31st December 2023. Total revenues in the year were US$4.9 million, falling 48% year-on-year. However, the company narrowed its loss from US$11 million in 2022, down to US$4.8 million in 2023.

Nearly 70% of SEEC’s revenues were generated from its advertising services & sales in its books & magazines segment. Revenues from that business were US$3.4 million. This represents a year-on-year decrease of 47%.

CCID revenues up 37% in weak economy

Beijing, 28th March: CCID Consulting, a research and information service provider in China, recently announced its financial results for 2023. Revenues were US$39 million, up 37% year-on-year. The company’s net profit jumped 159%, amounting to US$9.0 million. Earnings per share in the year were RMB 0.0901 (US$0.013).

More than 58% of CCID’s revenues were generated from its consulting services, amounting to US$23 million. This segment increased by 15% year-on-year. Its second largest business segment was its technology innovation platform services, generating revenues of US$12 million which accounts for 30% of the company’s total revenues. This segment generated US$2.1 million in the previous year. The remaining revenues were generated from its data platform services (US$4.4 million), which grew 207% compared with the previous year.

Quick takes

Registration now open for the 2024 UFI Global Congress

UFI, The Global Association of the Exhibition Industry, has opened registration for its 2024 Global Congress. The 91st edition of the event, hosted by Koelnmesse, will take place from 20th to 23rd November 2024 in Cologne, Germany.

STB launches new global MICE campaign

The Singapore Tourism Board (STB) has launched a new global marketing campaign to position Singapore as the “World’s Best MICE City.” No doubt, a few other cities in Asia and around the world will have something to say about that. See below.

Hong Kong’s Tourism Chief declares “World’s Meeting Place”

The city’s tourism board says that MICE arrivals are nearing pre-pandemic levels and an international business-events publicity tour will follow. Hong Kong will be wooing international business event organisers as part of its campaign to establish the city as the “World’s Meeting Place.”

Alibaba’s share repurchase is underway

Alibaba announced the company repurchased 524 million ordinary shares for a total of US$4.8 billion during the quarter ended 31st March 2024. For the fiscal year ended 31st March 2024, the company repurchased nearly 1.3 billion ordinary shares for a total of US$12.5 billion. Alibaba currently has 19.5 billion shares outstanding.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2024)

Meorient’s profit up 274% in FY2023

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

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

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.