Baidu’s profit up 5% in Q2

Beijing, 22nd August: Last week, Baidu, the leading Chinese language Internet search provider, released its financial results for the quarter ended 30th June 2024. Revenues for the quarter were US$4.7 billion, flat with the second quarter last year. The company recorded year-on-year profit growth of 5%, reaching US$755 million in the quarter.

Baidu also reported its financial results for the six months ended 30th June. Revenues in the first half of 2024 were US$9.0 billion, flat with the same period of last year. Profit in the period also flat with the previous year, amounting at US$1.5 billion. Diluted earnings per share in the first half of the year were RMB 3.74 (US$0.51).

HC reduces loss in the first half

Hong Kong, 23rd August: Hong Kong-listed HC Group has recently released its interim results for the six months ended 30th June 2024. The company’s revenues dropped 33% year-on-year, down to US$813 million. However, the company’s net loss decreased from US$112 million in the first half of 2023 to US$7.6 million in the first half of this year.

In terms of business segment, more than 97% of HC Group’s revenues were generated from its smart industries segment, amounting to US$795 million. Revenues from this segment decreased by 26% from the first half of 2023. The remaining revenues were contributed by HC’s technology-driven new retail segment (US$17 million), which dropped 88% year-on-year.

CCID Consulting records increases in revenues and profits

Beijing, 23rd August: Also last week, CCID Consulting, a research and information service provider in China, announced its financial results for the first half of 2024. Revenues were US$16.7 million, up 23% from the first half of 2023. The company posted a year-on-year growth 36% of its net profit, reaching US$5.3 million. Earnings per share in the six-month period were RMB 0.0593 (US$0.0082).

More than 64% of CCID’s revenues were generated from its Decision-making consulting services, amounting to US$10.8 million. This segment decreased by 2.8% year-on-year. The second largest business segment was CCID’s Science and technology innovation platform services, generating revenues of US$3.5 million, and accounting for about 21% of the company’s total revenues. This segment generated just US$893,000 in the first half of 2023. The remaining revenues were generated from its Data platform services (US$2.5 million), which was up 57% over the same period last year.

Quick takes

Legends completes acquisition of ASM Global

Legends announced its acquisition of ASM Global, and recently the company announced the completion of the acquisition. Under the acquisition, the companies will provide a data-driven, customizable solution for venue operations and revenue generation focused on delivering exceptional fan and guests experiences in the sports, entertainment, attractions, conventions, and leisure industries.

MyCEB appoints Acting CEO

Malaysia Convention & Exhibition Bureau (MyCEB) appointed the first woman, Miss Tan Mei Phing, to step into the chief executive role as the Acting Chief Executive Officer, effective 20th August 2024. In her new role, she will oversee the strategic direction, financial planning, and operational executive of MyCEB’s initiatives.

UFI’s CEO Kai Hattendorf to step down

UFI, The Global Association of the Exhibition Industry, announced its CEO, Kai Hattendorf, who has been CEO since 2015, will leave UFI at the end of 2024. The UFI leadership team is managing the process of recruiting the next CEO, led by President, Geoff Dickinson, and supported by COO, Adeline Vancauwelaert, and Hattendorf.

Alibaba’s dual primary listing in Hong Kong and New York

China’s leading e-commerce company, the Alibaba Group announced the conversion of the second listing status to a primary status of the Hong Kong Stock Exchange, effective 28th August 2024. The company is now a dual primary listed company on the Hong Kong Stock Exchange and the New York Stock Exchange.

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)

Lions International Convention return to Hong Kong

Hong Kong, 20th August: Lions International Convention will return to Hong Kong in 2026, after hosting in 1992 and 2005.

Lions International Convention is one of the world’s largest service club events. It is expected to attract 20,000 attendees from over the world, to the AsiaWorld-Expo (AWE), in July 2026.

700+ MICE events in Macau in first half

Macau, 16th August: Last week, Macau’s Statistics and Census Service (DSEC) reported its MICE statistics for the first half of 2024. Macau held a total of 702 MICE events in the first half, which represents 180 events more than the same period in 2023. However, the total number of participants and attendees dropped 29% year-on-year in the six-month period, down to 479,000.

Of the 702 events, 658 were meetings and conferences, up by 166 from the first half of 2023. The total number of participants at meetings and conferences increased by 4.6%, reaching 74,400 participants. A total of 26 exhibitions were held in the first half of 2024, which was two more than the same period last year. However, the number of attendees decreased by 33%, down to 398,900. The total gross area occupied by these exhibitions was 184,400 m2.

Cairns to host high-profile conferences

Cairns, 16th August: Over the last months, Cairns Convention Centre (CCC) has hosted a series of conferences, which brought significant economic benefits to Cairns. In addition, the venue estimates to attract over 21,000 delegates from Australia and overseas until June 2025.

In 2025, CCC will host Congress of the Asia Pacific Orthopaedic Association, providing scientific program and offering attendees cultural experience. Other major conferences to be held in the venue include: TravelManagers Australia Conference featuring Olympic Champion Cathy Freeman in September 2024; Australasian Genomic Technologies Association Annual Conference in October 2024; Australian Archaeological Association Annual Conference in December 2024; and Australian & New Zealand College of Anaesthetists Annual Scientific Meeting in May 2025.

Quick takes

ASM Global appoints Group Director of Arena Operations

ASM Global has appointed Meagan Walker as Group Director of Arena Operations, replacing Tim Worton. Meagan will lead the ASM Global arena network in Australia while supporting other arena venues in the region with a focus on event acquisition, operational planning for best practice patron experience and event delivery.

CEO of ICC Sydney steps down

Geoff Donaghy, Chief Executive Officer of ICC Sydney and Group Director – Convention Centres, ASM Global (APAC), will step down later this month. He joined ASM Global in 1994, and led various venues in the group.

500,000+ visits at HKTDC Food Expo and concurrent events

Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo and its concurrent fairs concluded with the total number of visits over 500,000. The overall spending capita was HK$1,615 (US$207). The five fairs featured some 1,860 exhibitors from 30 countries and regions.

CENTRESTAGE opens to public

CENTRESTAGE, the Hong Kong Trade Development Council’s (HKTDC) annual fashion extravaganza, will open its door at the Hong Kong Convention and Exhibition Centre (HKCEC), from 4th to 7th September 2024. The exhibition will be open to industry buyers and the public for the first time for all four days, providing an opportunity for fashion enthusiasts to explore and purchase from some 250 brands from 17 countries and regions, offering products for retail sale.

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)

UFI: 2024 as record year for the exhibition industry globally

Paris, 8th August: UFI, the Global Association of the Exhibition Industry, has recently released its latest bi-annual Global Exhibition Barometer report, showing the exhibition industry will achieve record revenues globally in 2024.

According to the report, the 2023 revenue is expected to grow by 20% year-on-year, while the 2024 figure is expected to grow by 17%.

Alibaba Group’s revenue up, but profit down

Hangzhou, 15th August: Last week, Alibaba Group, China’s largest e-commerce company, announced its results for the quarter ended 30th June 2024. The company recorded revenues of US$33 billion, an increase of 4% year-on-year. However, the company’s profits dropped 27% year-on-year, down to US$3.3 billion. Diluted earnings per share for the three-month period were RMB 1.24 (US$0.17).

In terms of its business segment, about 43% of Alibaba’s total revenues were generated from its Taobao & Tmall Group, amounting to US$16 billion. Revenues from Taobao & Tmall’s China commerce wholesale business, primarily generated through 1688.com, were US$819 million, an increase of 16% over last year. The second largest business segment, the Alibaba International Digital Commerce Group generated revenues of US$4.03 billion, or 11% of total revenues. Alibaba International Digital Commerce’s international commerce wholesale business, primarily traded on Alibaba.com, generated revenues of US$771 million, up 12% year-on-year.

BOL’s revenue and profit down in Q2

Bangkok, 8th August: Earlier this month, Business Online (BOL), an online information service provider in Thailand, reported its financial results for the quarter ended 30th June 2024. Revenues during the quarter were US$5.4 million, a year-on-year decrease of 8.6%. The company’s profits dropped by 4.9%, amounting at US$2.2 million.

BOL also announced its results for the six months ended 30th June. Revenues in the first half of 2024 were US$10 million, down 6.4% year-on-year. Net profits in the six-month period decreased by 4.6%, down to US$3.98 million. Diluted earnings per share during the first half of the year were Baht 0.18 (US$0.0049).

Meorient’s figures drop

Shanghai, 7th August: Shenzhen-listed exhibition organiser, Meorient, recently announced its financial results for the six months ended 30th June 2024. The group’s revenues in the first half of 2024 decreased by 26% year-on-year, down to US$36 million.

The company posted a net profit of US$5.6 million, a year-on-year decline of 47%. Diluted earnings per share in the six-month period were RMB 0.18 (US$0.025).

Quick takes

KLCC appoints new Director of Sales and Marketing

Kuala Lumpur Convention Centre (KLCC) announced to promote Tiffany Chung as new Director of Sales and Marketing. In the new role, Tiffany will be responsible for developing and implementing sales strategies, managing new product development, driving business development and revenue growth, overseeing marketing campaigns as well as talent development and management.

New Italian food show to host in Melbourne

National Media will organise a new show, Pizza Pasta & Italian Food Show, at Melbourne Convention & Exhibition Centre (MCEC), running from 18th to 20th May 2025. The new show will target for pizzerias, Italian-themed restaurants, and foodservice operators.

Theme days at HKTDC Food Expo

The Hong Kong Trade Development Council (HKTDC) organised Food Expo, from 15th to 19th August 2024, the Hong Kong Convention and Exhibition Centre (HKCEC). Together with Beauty & Wellness Expo, and Home Delights Expo, Food Expo PRO, and Hong Kong International Tea Fair, over 1,840 exhibitors from 30 countries and regions will feature at the fairs. Four theme days will be added in the fairs for the first time, featuring food from different regions of Mainland China, fine wine collections, and Japanese and Korean Express, as well as activities and products on health and wellness.

The Cosmetic Conference at RX’s in-cosmetics Asia

in-cosmetics Asia, organised by RX Global, will add The Cosmetic Conference, featuring technical, science-based talks from experts. The event will be hosted at the Bangkok Trade & Exhibition Centre (BITEC) in Bangkok, running from 5th to 6th November 2024.

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)

SpecTAPular acquires Talk2 Media & Events’ Good Food & Wine Show

Australia, 30th July: SpecTAPular Enterprises has acquired Talk2 Media & Events’ Good Food & Wine Show. Financial details of the transaction were not disclosed.

Events organised by SpecTAPular Enterprises included: Great Australian Beer SpecTAPular (GABS), Hunter Valley Wine & Beer Festival, Finer Drop Premium Drinks Festival and Canberra Craft Beer & Cider Festival. Good Food & Wine Show is Australia’s longest running national food & wine event.

Messe Frankfurt 30 years in Asia

Hong Kong, 30th July: International exhibition organiser, Messe Frankfurt, opened its business in Asia in 1994, and now Messe Frankfurt (HK) Ltd is the regional headquarters for Greater China, overseeing a network of seven offices with over 600 employees. In Asia, the company organises more than 60 events in 13 cities.

In Hong Kong, the company started a trade fair for the textile industry in 1987, and today it has 45 in the Greater China. In the Southeast Asia, there are eight events and two new trade fairs will open this year in the textiles and mobility sectors.

Ascential’s revenue up 15%in first half

London, 29th July: After accepting Informa’s £1.2 billion offer, Ascential has released its half-year financial results for the six months ended 30th June.

Ascential posted a revenue of £158 million (US$203 million) in the first half, which is a year-on-year 15% increase. The company posted an operating profit of £56.3 million (US$72.4 million), compared with £39.5 million in the first half of last year.

Quick takes

UFI expands education programmes globally

UFI, the Global Association of the Exhibition Industry, will expand its education programmes globally, with growing UFI Exhibition Management School and Venue Management School offerings around the world, and signing two-year UFI Greater Bay Area Education Partnership with Macau Fair & Trade Association (MFTA).

Messe Düsseldorf operative managing director to retire

Messe Düsseldorf’s operative managing director, Erhard Wienkamp announced to retire on 31st July 2024, after 30 years with the company. His successor, Marius Berlemann, will start in the new position on 1st August.

300 exhibitors at VisionChina 2024

Messe Muenchen Shanghai’s VisionChina 2024 (Shanghai) concluded at the Shanghai New International Expo Centre (SNIEC), running from 8th to 10th July 2024. Nearly 300 domestic and foreign exhibitors occupied 30,000 m2 of exhibition space, and attracted a total of 75,423 visitors.