Transfer of ownership for BSG

Hong Kong, 22nd May: Hong Kong-based Business Strategies Group Ltd. (BSG), founded in 2000 by Paul Woodward, announced to transfer its ownership to the current Managing Director, Mark Cochrane.

Since founding, BSG has completed nearly 900 projects. The company has worked will virtually every international B2B media company with operations in Asia including exhibition organisers, print publishers, online platforms, trade associations, government bodies and venue owners and operators. BSG provides research and analysis on the Asian B2B media sector – including events, online and print. The research and advice is supported by a proprietary database of profiles of nearly 3,000 exhibitions in Asia.

Mark has worked with BSG as Consultant in 2006, taking over as MD in 2010. The transfer of ownership will complete in March 2027, and Paul will remain as Chairman and Senior Advisor to BSG.

Paul commented, “Mark Cochrane and his great team have been running BSG on a day-to-day basis for quite a few years now. As I begin to step back from active consulting work, this is the ideal arrangement for the company, its team and its clients. I couldn’t be happier with the plan and am confident that there’s a bright future for BSG as it starts its next 25 years.”

TCEB joins hands with 16 partners

Thailand, 16th May: The Thailand Convention & Exhibition Bureau (TCEB) has launched the “Yok Team Prachum, Rum Rak Mueang Thai Season 2” campaign. Under the theme of “Inviting Office Teams to Go Off-Site Across Thailand”, the marketing initiative is a collaborative effort with 16 leading partner organisations aiming to strengthen the domestic MICE market and making corporate activities contribute to sustainable community development.

According to TCEB, the 2024 campaign generated over 130 million baht (US$3.8 million) in economic impact and attracted 14,971 participants. The 2025 campaign will be benefits for both participants and destination communities under six activity formats and three concepts. The three core concepts are: meetings to promote the community, meetings to promote health, and meetings to promote sustainability.

The primary objectives of the campaign are to promote the organisation of meetings, seminars, corporate events, and incentive travel across Thailand, stimulate income distribution to communities, and drive the sustainable growth of the domestic MICE industry.

TCEB targets the 2025 fiscal year to feature 26 million domestic MICE travellers and 86 billion baht (US$2.5 billion) in revenue.

Mrs. Nichapa Yoswee, Senior Vice President of TCEB, stated, “TCEB recognises that promoting the strong growth of the domestic MICE market is a crucial foundation for supporting the overall development of the national MICE industry and a vital mechanism for driving the economy. Over the past decades, TCEB has consistently pursued a policy focused on developing the domestic MICE market to distribute opportunities and income to regions and communities nationwide. As of the end of March, the domestic MICE market generated over 12.6 million travellers and a total revenue of over 42 billion baht (US$1.2 billion), representing 15.94% growth compared to the same period last year.”

Baidu’s profit up 42% in Q1

Beijing, 21st May: Baidu, the leading Chinese language Internet search company, has recently reported revenues of US$4.5 billion for the quarter ended 31st March 2025, which is an increase of 3% year-on-year. The company’s net profit in the quarter jumped 42%, reaching US$1.1 billion. Diluted earnings per share in the quarter were RMB 2.70 (US$0.37).

More than 53% of Baidu’s revenues were generated from its online marketing services, amounting to US$2.4 billion, which presents a drop of 6.4% year-on-year. The remaining revenues, categorised as “other” grew 16%, amounting to US$2.1 billion. According to the company, its AI business was still the key growth driver of its revenues.

Robin Li, Co-founder and CEO of Baidu, was quoted, “Baidu Core revenue grew 7% year over year in the first quarter, driven by the accelerating momentum of AI Cloud, which surged 42% year over year. The strong performance of our AI Cloud business underscores the growing market recognition of our distinctive strength in providing full-stack AI products and solutions with a highly competitive price-performance advantage. We also achieved a pivotal milestone in our robotaxi business, as Apollo Go expanded internationally by entering Dubai and Abu Dhabi, reinforcing our commitment to bringing safe, comfortable, and affordable autonomous ride-hailing services to global markets. We are confident that our AI-first strategy positions us to remain at the forefront and to capture long-term growth opportunities in the AI era.”

413 MICE events held in Macau in Q1

Macau, 16th May: Last week, Macau’s Statistics and Census Service (DSEC) released its MICE statistics for the first quarter of 2025. A total of 413 MICE events were held in Macau in the quarter, increase 77 events compared with the first quarter of 2024. The total number of participants and attendees grew 3.7% year-on-year, reaching 188,000.

Of the 413 events, 387 were meetings and conferences. In the first quarter of 2024, there were 317 meetings and conferences held in Macau. The total number of participants at meetings and conferences posted an increase of 5.2%, amounting at 37,000 participants.

A total of 12 exhibitions were held during the quarter, same with the first quarter of 2024. The number of attendees rose 3.8%, to 150,000. However, the total gross area occupied by these exhibitions dropped 18% year-on-year, covering a total area of 35,500 m2.

Quick takes

GL events acquires Chinese pet veterinary event

GL events announced the acquisition of a 69% stake in East West Small Animals Clinical Veterinary Surgeons Conference (WESAVC), a major event for the pet veterinary industry in Xiamen. Every year, more than 1,000 exhibitors present at the event, occupying an exhibition area of 50,000 m2, and generating sales of €6 million (US$6.8 million).

Singapore leads ICCA rankings in Asia

The International Convention and Congress Association (ICCA) released its 2024 research finds with rankings based on the number of ICCA-recognised meetings have taken place in each destination. Global Top 10 city for the year are Vienna, Lisbon, Singapore, Barcelona, Prague, Paris, Seoul, Bangkok, Rome and Athens. In the Asia-Pacific city, the top 10 city are Singapore, Seoul, Bangkok, Tokyo, Hong Kong, Kuala Lumpur, Taipei, Sydney, Melbourne and Bali.

VNU Asia Pacific launches travel show in Bangkok

VNU Asia Pacific will launch Travel & Tech Asia 2025, the inaugural preeminent event and conference dedicated to travel technology and innovation in the region, in Bangkok. Running from 2nd to 3rd July 2025, at the Queen Sirikit National Convention Center (QSNCC), the event targets on buyers from the government sector, association, chamber of commerce and hotel chains in Thailand.

ABEA secures 10 partnerships

The Australian Business Events Association (ABEA) has secured ten strategic partnerships in two years, including Accommodation Australia – eeger workforce platform, Australian Chamber of Commerce and Industry, Austrade, AIPC, Business Events Australia, COSBOA, IAPCO, ICCA, Service and Creative Skills Australia (SaCSA), and UFI.

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 2025)

Hyve expands Breakbulk portfolio in Asia

Singapore, 13th May: Hyve Group announced to expand its Breakbulk portfolio in Asia, by launching Breakbulk Asia in Singapore in 2026.

Breakbulk Asia will feature the full industrial supply chain to facilitate business, spark collaboration, and drive innovation in the region. The new event will take place at Sands Expo & Convention Centre in Singapore, running from 18th to 19th November 2026.

Today, Breakbulk portfolio includes events in the Americas, Europe and the Middle East. Under the GO27 strategy, which is a plan to grow and optimise the business by 2027 through strategic expansion, innovation and scaling proven products globally, the launching of Breakbulk Asia is a key step.

Mark Shashoua, Hyve CEO, said, “Launching Breakbulk Asia is a stride forward in delivering Hyve’s growth ambitions. It reflects our commitment to building world-class platforms that serve critical global industries and our ability to scale them with purpose.”

Alibaba’s profit up 77% in FY24-25

Hangzhou, 15th May: Earlier this week, China’s largest e-commerce company, the Alibaba Group, announced its financial results for the year ended 31st March 2025. Revenues in the financial year were US$137 billion, representing year-on-year growth of 6%. Net income in the year jumped 77% over the previous year, reaching US$17 billion. Diluted earnings per share for the year were RMB 53.59 (US$7.38).

In terms of its B2B business, revenues generated from Alibaba’s B2B business in China under the Taobao and Tmall Group, mainly through its 1688.com platform, were US$3.35 billion, resulting in a year-on-year increase of 19%. The international B2B business under the Alibaba International Digital Commerce Group, primarily on Alibaba.com, posted a 14% increase in revenues, amounting at US$3.28 billion. The B2B businesses only accounted for just 4.8% of Alibaba’s total revenues.

The Alibaba Group also released its results for the quarter ended 31st March, with revenues of US$33 billion, representing moderate growth of 7% year-on-year. Net profit in the quarter was 12 times the same quarter in 2024, amounting at US$1.7 million.

Eddie Wu, Chief Executive Officer of Alibaba Group, was quoted, “Our results this quarter and for the full fiscal year demonstrate the ongoing effectiveness of our ‘user first, AI-driven’ strategy, with core business growth continuing to accelerate. Driven by strong demand for AI, Cloud Intelligence Group quarterly revenue growth accelerated to 18%, with AI-related product revenue achieving triple-digit growth for the seventh consecutive quarter. Customer management revenue at Taobao and Tmall Group grew 12% this quarter, reflecting the sustained impact of investments in user experience and effective monetization. Looking ahead, we will remain focused on our core businesses and continue to drive AI + Cloud as a new engine for our long-term growth.”

BOL’s profit up 6.3% in Q1

Bangkok, 13th May: Recently, Business Online (BOL), a leading online business information service provider in Thailand, has reported its financial results for the quarter ended 31st March 2025. The company recorded revenues of US$5.4 million for the quarter, flat with the figure recorded in the first quarter of 2024.

BOL’s net profits for the three-month period increased by 6.3%, reaching US$2.0 million. Diluted earnings per share in the first quarter of 2025 were Baht 0.08 (US$0.0024).

The company attributed the increase in profit to the increase revenue in information services, in the results of both new and existing customers.

At the same time, BOL also announced the approval of the appointment of Mr. Loh Kok Leong as a director, replacing Mr. Erick Hamburger Barraza, effective from 13th May 2025.

Quick takes

Less than one month to GED 2025

The 10th edition of Global Exhibitions Day (GED) will take place on Wednesday, 4th June 2025, the first Wednesday of June. Under the theme of “Exhibitions Unleash Potential”, this year’s GED will showcase how exhibitions empower individuals, elevate organisations, and drive economic and social growth through direct in-person interactions and connections.

Chiang Mai wins to host 6 international conferences in 2025

Chiang Mai, the northern Thai capital, won to host six international conferences in 2025, targeting to bring some 3,600 delegates to the city. It also made another stride in securing at least one international conference for 2026. The conferences will be held in different venues, covering various industries, including engineering, medicine, environmental science and social science.

HKTB’s GM of event and product development to step down

Hong Kong Tourism Board (HKTB) announced its General Manager of Event and Product Development, Raymond Chan, will step down from his role in two months. Joined the HKTB in 2012, he has held key marketing and public affairs positions in Southeast Asian and other markets. In 2023, he relocated to the Hong Kong office and in charge of leading several mega events.

120,000+ visits at Global Sources’ April 2025 Hong Kong Shows

Hong Kong-based Online-to-Offline (O2O) sourcing platform, Global Sources, concluded its April 2025 Global Sources Hong Kong Shows at AsiaWorld-Expo (AWE), attracting more than 120,000 buyer visits. Separating in three phases, nine professional sectors were held, including Gaming, Consumer Electronics, Electronic Components, Mobile Electronics, Smart Home, Security & Home Appliances, Home & Kitchen Products, Lifestyle Products, Sports & Outdoor, and Baby & Children Products. Nearly 5,000 Asian suppliers showcased over 340,000 innovative products at the 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 2025)

GITEX expands to Vietnam

Hanoi, Vietnam, 24th April: GITEX, the world’s leading tech show brand, announced to expand its portfolio to the Vietnamese market, following the recently signed joint declaration of intent between Vietnam and the UAE to launch talks on establishing a comprehensive economic partnership agreement (CEPA) and elevate existing trade and economic ties to new heights.

The inaugural edition of GITEX VIETNAM will be held in Hanoi, running from 1st to 2nd October 2026, and it will be organised by Dubai World Trade Centre (DWTC) and KAOUN International in partnership with the Vietnam National Innovation Centre (NIC).

GITEX now organises shows in seven countries, including Germany, Morocco, Nigeria, Singapore, Thailand, UAE, and Vietnam. The Vietnam edition will focus on the nation’s vast potential to global audiences, facilitate digital investment opportunities, inspire new partnerships, and amplify new opportunities for Vietnam’s tech ecosystem to scale globally.

Trixie LohMirmand, Executive Vice President of DWTC & CEO of KAOUN International, said, “The inaugural GITEX VIETNAM shall represent a watershed in the digital transition of Vietnam and the rising Southeast Asia emerging economies. GITEX shall spotlight and amplify the accomplishments, forward policies, talents, developing infrastructure, and growing aspirations of a steadfast and ambitious young economy to the rest of the world. This shall unleash a surge of new business collaborative opportunities between government and private sectors across the world. GITEX shall elevate the vibrant and highly motivated regional ecosystems, often understated and unfamiliar to global communities, onto the international tech universe. I think the tech world will be in for a pleasant surprise.”

Netsun’s revenues up 29% in FY2024

Hangzhou, 29th April: Shenzhen-listed Zhejiang Netsun announced its results for the year ended 31st December 2024, with revenues of US$77 million. This represents modest year-on-year growth of 29%. The increase was mainly due to the increase in supply chain business revenue during the year.

However, the company posted a net loss of US$3.1 million in 2024, compared with a net profit of US$2.7 million recorded in 2023. The company attributed the loss to the provision for bad debts of receivables for compensation in the reported period increased compared with the previous year.

In terms of business segments, the supply chain business accounted for 85% of total revenues, amounting to US$65 million, which grew 45% year-on-year. The second largest business segment, Internet services, generated revenues of US$6.8 million and accounted for 8.8% of total revenues.

The Hangzhou-based company also reported its results for the quarter ended 31st March 2025. Netsun’s revenues in the quarter jumped 98%, reaching US$22 million. The company’s net profit in the quarter were US$221,000, which represented a year-on-year decline of 33%.

Made-in-China.com up in revenues and profits in Q1

Nanjing, 30th April: Focus Technology, the operator of Made-in-China.com which is a B2B sourcing platform, has reported revenues of US$61 million in the quarter ended 31st March 2025, which is a year-on-year increase of 15%.

The company’s net profit grew 46%, amounting at US$15 million in the first quarter of 2025. Diluted earnings per share in the three-month period were RMB 0.353 (US$0.049). The company’s management did not provide any comment on its performance in the reported period.

As of 31st March, Made-in-China.com reported 28,118 registered members on its platform and in a new development, in which, over 11,000 members paid for Made-in-China.com’s AI service.

100,000 buyers at HKTDC’s seven mega events

Hong Kong, 30th April: The Hong Kong Trade Development Council (HKTDC) concluded seven trade events in late April, covering lifestyle products and licensing opportunities, attracting some 100,000 buyers from 131 countries and regions, with buyer numbers increased across all exhibitions.

The seven events featured some 6,000 exhibitors from over 30 countries and regions. Hong Kong Gifts & Premium Fair, Home InStyle, and Fashion InStyle were held at the Hong Kong Convention and Exhibition Centre (HKCEC), while Hong Kong Printing & Packaging Fair, and DeLuxe PrintPack Hong Kong took place at the AsiaWorld-Expo (AWE), running from 27th to 30th April. Hong Kong International Licensing Show (HKILS), and Asian Licensing Conference (ALC) ran at the HKCEC, from 28th to 30th April.

Sophia Chong, HKTDC Deputy Executive Director, was quoted, “The seven major events held by the HKTDC in late April brought together some 6,000 exhibitors from over 30 countries and regions. Despite the current challenges in the global economic and trade environment, we actively attracted buyers to our fairs to enhance trade resilience and assist exhibitors in gaining a foothold in new markets such as the Middle East and ASEAN regions. The HKTDC remains committed to promoting cross-sector and international trade cooperation among exhibitors, reinforcing Hong Kong’s position as an international trade hub and showcasing its unique advantage in building connections regionally and globally.”

Quick takes

160 delegates at 2025 UFI MEA Conference

UFI, The Global Association of the Exhibition Industry, concluded its 2025 UFI MEA Conference, hosted from 28th to 30th April in Cairo, Egypt, by the EECA (Egyptian Expo & Convention Authority) at the Cairo International Convention and Exhibition Center. A total of 160 industry leaders and decision-makers from 26 countries attended the conference, making it the largest to date.

Tan Mei Phing appointed as MyCEB’s CEO

The Malaysia Convention & Exhibition Bureau (MyCEB) announced the appointment of Miss Tan Mei Phing as Chief Executive Officer (CEO), effective 21st April 2025. In her new role, she will oversee the strategic direction, financial planning, and operational execution of MyCEB’s initiatives, ensuring its continued growth and reinforcing Malaysia’s position as a premier destination for business events.

ICC Sydney appoints new Director of Event Delivery

International Convention Centre Sydney (ICC Sydney) promoted Marc Singerling as Director of Event Delivery, effective 14th April 2025. Recently served as F&B services manager and led the internal operational management group, Singerling will report to ICC Sydney’s General Manager – Operations, Lynell Peck.

New B2B online platform helps inbound business

A new B2B tourism resources platform, TourCon, has been launched, helping inbound travel agents promote and sell programmes for Macau, the Greater Bay Area, and China to international markets. It is a membership-based platform supported and developed by six tourism-related associations, aiming to drive regional cooperation, support digital transformation, and enable more efficient transaction matching. The platform targeted at Macau first and has already worked with the Macao Government Tourism Office on B2B roadshows in Dubai and Jakarta.

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 2025)

Informa releases latest trading update

London, 1st May: Yesterday, London-listed Informa Group PLC released its latest trading update, reporting a strong growth in the first quarter of 2025 and continuing forward visibility through subscriptions, recurring revenues and forward booked contracts.

The company posted an underlying revenue growth of 7.6% in the quarter, with strong performances across its Live B2B Events portfolio and in Academic Markets.

Informa updated its full year underlying revenue growth guidance of over 5%, which will be amounting at about £4.1 billion (US$5.3 billion) revenue target, with a double digit adjust earnings growth reaffirmed.

Stephen A. Carter, Group Chief Executive, Informa, stated, “The Informa Group continues to deliver strong underlying growth in both Live B2B Events and Academic Markets. Specialist Brands in Specialist Markets, annual/multi-year Subscriptions, forward booked revenues, and leading positions in faster growing geographies, underpin the Informa growth platform.”

New exhibition venue to launch in Philippines

Pasay City, Philippines, 23rd April: SM Hotels & Conventions Corporation (SMHCC) announced to develop the Philippines’ largest international exhibition venue under its brand portfolio, SMXCITE, which officially breaks ground in Pasay City. Located right across SM MOA Arena, within the SM Mall of Asia Complex, SMXCITE will be a world-class venue.

SMXCITE is scheduled to complete in early 2027, providing over 18,000 m2 of leasable trade hall space. The venue will feature five expansive exhibition halls, accommodating up to 803 standard 3×3-meter booths; four equipped meeting rooms, for breakout sessions, closed-door discussions, and strategic planning engagements; two dedicated VIP lounges, for top-level executives, dignitaries, and private delegations. It can host over 18,000 guests and engineered to support large-format events for both local and global audiences.

Walid Wafik, Senior Vice President for Operations of SM Hotels and Conventions Corporation, said, “SMXCITE marks a pivotal step in our continued efforts to build future-ready venues that meet global standards. With this new exhibition center, along with exciting projects on the horizon in Cebu and in Cabanatuan, we’re expanding our reach and reinforcing our commitment to elevate the Philippine MICE experience across the country.”

Messe Berlin opens subsidiary in India

India, 29th April: International exhibition organiser, Messe Berlin, announced a new subsidiary, Messe Berlin India. Messe Berlin India will be headquartered in Delhi NCR region, aiming to expand ITB India and launch new projects for the Indian market.

According to Messe Berlin, the company views India as a regional hub for innovation, collaboration and sustainable business growth within the exhibition industry, therefore the company opens a new subsidiary in India.

Katrina Leung, Managing Director and Vice-president Asia Pacific of Messe Berlin, will lead Messe Berline India as Managing Director.

Dr Mario Tobias, CEO of Messe Berlin, was quoted, “Messe Berlin’s presence in India reflects our strategic intent to strengthen our international reach by being where the growth is. India is a key market for us – vibrant, diverse, and full of opportunities. With Messe Berlin India, we are laying down long-term foundations to build strong partnerships, support local industries, and elevate our global platforms.”