Weekly Newsletter
Nanjing, 26th August: Shenzhen-listed Focus Technology, which owns and operates B2B trading platform, Made-in-China.com, has recently announced its financial results for the six months ended 30th June 2017. Revenues were US$93 million, an increase of 118% compared to the first half last year. Net income grew by 73% year-on-year, reaching US$4.9 million. Diluted earnings per share in the first half were RMB 0.14 (US$0.021).
Read MoreShare price movement
Read MoreHong Kong, 28th August: Earlier this week, Global Sources announced that funds affiliated with Blackstone, a private equity group, had completed its acquisition of Global Sources.
In a special general meeting held on 24th July, a majority of Global Sources’ shareholders voted in favour of the acquisition. Each issued and outstanding common share will now convert into the right to receive the amount of US$20 in cash, without interest.
Beijing, 24th August: Ele.me, a Chinese online food-delivery company owned by the Alibaba Group, has merged with Baidu Deliveries. Financial details of the deal were not disclosed. The transaction represents a significant consolidation in China’s highly competitive online-to-offline (O2O) food delivery market.
Following the deal, Baidu Deliveries will continue to operate as an independent brand and the existing management team will remain with the business. Ele.me and Baidu Deliveries will be supported with resources from both Alibaba and Baidu. Ele.me is expected to contribute both data and human resources to improve the experience of Baidu Deliveries users.
Melbourne, 20th August: According to the Melbourne Convention and Exhibition Centre (MCEC), its expansion project is well underway as the supporting steel structure is now in place. The expansion will cost more than $A300 million (US$237 million) and will be underwritten by the Victorian Government. In addition to the 20,000 m2 expansion of MCEC, the project will also include a new hotel and a car park.
Construction work is scheduled to be completed by mid-2018 and MCEC reports that 900 new jobs will be created through the project. In addition, during construction, some 700 temporary jobs will be created.
Hong Kong, 29th August: The 36th Hong Kong Watch & Clock Fair will open next week, featuring, more than 820 exhibitors from 24 countries – making it the largest event of its kind, according to the organiser. The event will also feature approximately, 150 premium international watch brands and designer collections in five thematic zones: World Brand Piazza, Renaissance Moment, Chic & Trendy, Craft Treasure and Wearable Tech.
Organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Watch Manufacturers Association and the Federation of Hong Kong Watch Trades and Industries, the exhibition will be held from 5th to 9th September at the Hong Kong Convention and Exhibition Centre (HKCEC).
Beijing, 28th August: Earlier this week, Hong Kong-listed HC International reported its interim results for the six months ended 30th June. The company’s revenues jumped 188% in the period, reaching US$198 million. Profit in the first half was US$16 million which represents an increase of 270%. Diluted earnings per share were RMB 0.1039 (US$0.015).
HC International’s largest business, its B2B trading platform, generated revenues of US$69 million. That represents about 35% of total revenues. The online services segment was the second largest business generating 33% of revenues (US$64 million). The remaining revenues were from its O2O business exhibition centre (US$44 million), seminars & other events (US$12 million), anti-counterfeiting products & services (US$7.1 million), financing services (US$1.5 million) and trade catalogues & yellow pages (US$195,000).
Hong Kong, 31st August: Hong Kong-listed media company, the SEEC Media Group, announced its financial results for the first half of 2017. Revenues were US$17 million, which represents year-on-year growth of 31%. However, the company recorded a loss of US$26 million, compared with a loss of just US$2.5 million in the same period last year.
SEEC’s advertising services generated revenues of US$13 million, which is about 77% of the total. Revenue from advertising services increased 13% year-on-year. SEEC’s second largest business segment, securities broking services jumped 479% to US$2.3 million. The remaining revenues were generated from the sale of books & magazines (US$752,000), money lending (US$498,000) and finally, provision of e-commerce services generated US$347,000.
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 2017)
Hangzhou, 17th August: Last week, China’s largest e-commerce company, the Alibaba Group, announced its results for the quarter ended 30th June 2017. The company recorded revenues of US$7.4 billion, up 56% over same period last year. Net income jumped 96% year-on-year, reaching US$2.1 billion. Diluted earnings per share in the quarter were RMB 5.65 (US$0.83).
Read MoreChina, 18th August: China has established a digital “cyber-court” for online cases. The Hangzhou Internet Court opened for business on 18th August with its first case – a copyright infringement dispute between an online writer and an Internet company.
Read MoreIndonesia, 24th August: Padang, the capital of the province of West Sumatra, will open its first convention centre next year with the aim of attracting more business events to the city.
Read MoreHong Kong, 17th August: Earlier this week, the Hong Kong Trade Development Council (HKTDC) concluded four lifestyle fairs, at the Hong Kong Convention and Exhibition Centre (HKCEC) drawing nearly 500,000 visitors.
Read MoreSydney, 24th August: The Australasian Gaming Expo (AGE) 2017 returned to Darling Harbour this year at the newly opened venue, ICC Sydney running from 15th to 17th August. This edition of AGE resulted in record numbers.
Read MoreLondon, 16th August: Last week, London-listed education media service provider, Pearson PLC, announced the sale of Global Education and some associated assets to Puxin Education for US$80 million.
Read MoreShare price movement.
Read MoreIndia, 7th August: Messe Frankfurt India Trade Fair Ltd, the Indian subsidiary of Messe Frankfurt, announced that the company has acquired Screen Print India. The financial details of the deal were not disclosed.
Read MoreU.S., 7th August: According to media reports, Sohu.com has filed the paperwork with the U.S. Securities and Exchange Commission for an initial public offering (IPO) of its search engine subsidiary, Sogou which is expected to be listed later this year.
Read MoreU.S., 11th August: It is being reported that earlier this year, the Cyberspace Administration of China (CAC) released the new regulations imposing more limitations on the news produced and distributed by online platforms. Earlier this month, the Beijing and Guangdong branches of CAC began investigating reports of news content featuring “violence, pornography and rumours disruptive to the social order.”
Read MoreYokohama, 17th August: A new multipurpose event arena will open in Yokohama in the spring of 2020 – ahead of the Summer Olympic Games.
Read MoreBusiness Strategies Group is the only market intelligence & strategy consulting firm in Asia with a special focus on business media, information and events. Our services include research, market intelligence, mergers and acquisition support and strategy development.
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