Shanghai Lansheng revenue up, but profit down

Shanghai, 18th April: Shanghai Lansheng (formerly known as East Best) released its financial results for the year ended 31st December 2019. Revenue in the year was US$645 million. This represents solid year-on-year growth of 13%.

However, profit in 2019 dropped 24% year-on-year, down to US$25 million. Diluted earnings per share in 2019 were RMB 0.415 (US$0.059). The company attributed the decrease in profit to a notable rise in its costs and a decrease in its income from on-going investments.

HC Group’s revenue up 40%, but posts large loss in 2019

Hong Kong, 17th April: Last week, the HC Group, an online B2B information services provider in China, reported total revenue of US$2.1 billion for the year ended 31st December 2019. That represents an increase of 40% year-on-year. The revenue growth was mainly from HC’s smart industries segment – its well-established B2B trading platform.

However, the company posted a loss of US$54 million in 2019, compared with a profit of US$39 million in the previous year. The loss was attributed to an increase in cost of sales and an impairment loss on goodwill and intangible assets.

TCEB launches campaign to support events

Bangkok, 20th April: The Thailand Convention and Exhibition Bureau (TCEB) unveiled two projects this week: the “Virtual Meeting Space” (VMS) and “Simple Ways to Prevent the Spread of COVID-19 in Your Meetings and Events.” Both initiatives aim to support the MICE industry in Thailand.

VMS will help Thai MICE companies run business events online and upgrade their employees’ skills on virtual platforms, while the “Simple Ways” initiative will allow MICE venue owners and operators to upgrade their safety and health standards.

GIC to be cornerstone investor in Informa share placement

London, 16th April: Last week, Informa unveiled its financial response to the COVID-19 pandemic. The group revealed that the measures will include the following: temporarily suspending dividends, cutting executive pay and issuing new shares worth about 20% of its total existing capital.

Informa reportedly plans to raise approximately £1 billion in order to strengthen its balance sheet and reduce its debt from £2.4 billion (US$2.9 billion) to £1.4 billion (US$$1.7 billion). The group will place 250,318,000 new ordinary shares or approximately 20% of the group’s existing issued share capital – which will raise £1 billion.

Quick takes

HK Government may cover exhibitors’ fees at book fair

In an interview focused on how the government plans to support the economic recovery, Edward Yau, Hong Kong’s Secretary for Commerce and Economic Development, stated that he was unsure whether the HKTDC’s annual book fair would go ahead as planned in July. “But he said, if it does take place, the government was willing to shoulder its exhibition fees, which come to around HK$40 million (US$5.1 million).”

The Standard article

Baselworld’s future looks uncertain

After losing The Swatch Group in a spat in 2018, now the MCH Group’s flagship event will lose five core watch brands that will establish their own competing event and add to that, its exhibitors are upset about MCH’s refund policy.

Forbes article

National Jeweler article

An event creator under quarantine

Hong Kong-based event organiser, Robert Rogers, reflects on SARS, his home quarantine and events after COVID-19.

Mix Meetings article

London Book Fair exhibitors pursue refunds

Exhibitors at Reed Exhibitions’ London Book Fair look to the organiser and service providers for a refund. This will be a story repeated thousands of times in the coming months.

This Is Money article

Global Sources introduces MATCH Express

Hong Kong, 16th April: Hong Kong-based Global Sources will launch a customised business-matching service, MATCH Express, aiming to connect relevant buyers and suppliers.

Based on the buyer’s sourcing criteria, qualified Verified Suppliers on Global Sources will be able to directly contact buyers in the “MATCH Express” section.

Messe Frankfurt merges Intertextile Shanghai and Shenzhen

Shanghai/Shenzhen, 8th April: As a result of the COVID-19 outbreak, Messe Frankfurt has announced plans to postpone its Intertextile Shanghai Apparel Fabrics – Spring Edition, Yarn Expo Spring and Intextile Shanghai Home Textile – Spring Edition. The events will be merged with two other events in Shenzhen: Intertextile Shenzhen Apparel Fabrics and Yarn Expo Shenzhen.

The Shenzhen shows will run from 15th to 17th July 2020 at Shenzhen World Exhibition and Convention Center. Messe Frankfurt is offering its exhibitors at the Shanghai shows the opportunity to exhibit at the Shenzhen shows or at the autumn edition of the Shanghai shows which will take place at the National Exhibition and Convention Center (Shanghai) (NECC) running from 24th to 26th August 2020.

Informa Markets to launch beauty expo in Shenzhen

Guangzhou, 16th April: Informa Markets, BolognaFiere and Shanghai Baiwen Exhibition Company plan to launch the South China Beauty Expo (SCBE) later this year with the aim of serving the Chinese cosmetics industry in the Greater Bay Area.

The first edition of SCBE will be held at the Shenzhen Convention and Exhibition Center (SZCEC) from 30th July to 1st August covering an area of 22,500 m2. The organisers expect 800 exhibitors to offer products covering categories including: perfume & fragrance, personal care & toiletries, cosmetics & tools, nails & equipment, professional salons products & equipment, and hair salons products & equipment, supply chain. Over 20,000 trade visitors are expected to attend the new show.

CBME India 2020 ties up with India toy association

Mumbai, 26th March: Informa Markets has announced that Children, Baby and Maternity Expo India (CBME India), a leading children and maternity product business expo in India, will tie up with The All India Toy Manufacturer’s Association (TAITMA) for the upcoming edition of the event in September this year.

TAITMA is a key association in Indian serving the toy market there. Under the terms of the cooperation, TAITMA will support domestic exhibitors and visitors interested in participating in the event. Organised by Informa Markets, CBME India 2020 will be held from 2nd to 4th September at Bombay Exhibition Centre in Mumbai.

Informa plc outlines its financial response to COVID-19

London, 16th April: We have a few articles on Informa this week. In the face the on-going global COVID-19 pandemic, Informa plc has unveiled some the measures that the group will take to shore up its financial position.

The group will temporarily suspend dividends, cut executive pay and issue new shares worth about 20% of its total existing capital. Informa plans to raise approximately £1 billion in order to strengthen its balance sheet and reduce its debt from £2.4 billion ($2.9 billion) to £1.4 billion ($1.7 billion). The company is also negotiating with its U.S.-based debt holders over a “covenant waiver agreement.”

Quick takes

Canton Fair goes online

For the first time in more than 50 years, there will be no Canton Fair Spring edition. This week, organisers announced that instead there will be an online version held in June. Details to follow.

That’s China article

HKTDC online events and postponements

The HKTDC has announced the Hong Kong International Jewellery Show and Diamond, Gem & Pearl Shows will now take place from 3 to 6 August 2020. 

Jeweller magazine article

Venue in Manila transforms into COVID-19 treatment centre

Like many venues around the region, the World Trade Centre Metro Manila is using its floor space to tread mild cases of the virus.

ABS article

Dogs and cats quarantined in Hong Kong

Even the family pet is ending up in quarantine as an extra precaution in Hong Kong!

The HK Standard article

Quick takes

UFI launches online content

In the face of the on-going COVID-19 crisis, UFI has launched UFI Connects. It is a free online platform with content ranging from interviews to panel sessions to webinars.

UFI website

China’s e-commerce giants are delivering

This is a good Harvard Business Review article outlining how China’s e-commerce giants have stepped-up since the COVID-19 outbreak – especially Alibaba and JD.com.

HBR article

Macau COVID-19 cases at 41, but thousands in quarantine

The confirmed cases in Hong Kong and Singapore have spiked to over 800 and over 1,000, respectively, but Macau is holding steady at just over 40. However, over 2,600 people are being held under observation in hotels in the territory.

ASGAM article

HC Group posts loss in 2019

Hong Kong, 27th March: Last week, the HC Group, an online B2B information services provider in China, reported total revenues of US$2.1 billion for the year ended 31st December 2019. That represents growth of 41% year-on-year. The revenue growth was mainly from HC’s smart industries business managed on its B2B trading platforms.

However, the company recorded net loss of US$66 million in the year, compared with a net profit of US$93 million in 2018. The company attributed the loss to: (i) customers were more cautious in terms of their spending; (ii) a one-time provision for goodwill and intangible assets impairment; and (iii) the company’s rising spend on R&D.

Sino Splendid reduces loss in 2019

Hong Kong, 31st March: Hong Kong-listed Sino Splendid (formerly China.com) recently announced its full year results for the year ended 31st December 2019. The company reported revenues of US$14 million, an increase of 14% year-on-year. The company narrowed its net loss in 2019 down to US$342,000, compared with a loss of US$3.7 million in the previous year.

More than 71% of Sino Splendid’s revenues were generated from its Travel Media Business, amounting to US$9.9 million. That represents year-on-year growth of 8%. The remaining revenues were generated by Sino Splendid’s financial magazine business (US$3.5 million) and its money lending business (US$393,000).