Sino Splendid’s revenues drop 62% in FY2020

Hong Kong, 29th March: Earlier this week, Hong Kong-listed Sino Splendid (formerly China.com) announced its full year results for the year ended 31st December 2020. The company reported revenues of US$5.3 million, a decrease of 62% year-on-year. The company also posted a loss of US$3 million in 2020, compared with a loss of US$342,000 in the previous year.

More than half of Sino Splendid’s revenues were generated from its travel media business, amounting to US$2.9 million. That figure represents a year-on-year decline of 71%. Its second largest business, a financial magazine business, dropped 38% down to US$2.2 million. This business accounts for about 42% of Sino Splendid’s total revenues. The remaining revenues were generated from interest income (US$195,000) and its new virtual reality business (US$34,000).

HC Group’s revenues fall modestly in FY2020

Hong Kong, 25th March: Last week, the HC Group, an online B2B information services provider in China, reported total revenues of US$2.2 billion for the year ended 31st December 2020. That represents a slight decrease of just 1.5% year-on-year. The company also recorded a net loss of US$134 million in 2020, compared with a loss of US$66 million in 2019.

More than 90% of HC’s revenues were generated from its smart industries segment, amounting to US$2.02 billion. That figure is very similar to that of the previous year. The remaining revenues were generated from its “technology-driven new retail segment” (US$157 million) and HC’s platform & corporate services segment (US$52 million).

Quick takes

Computex 2021 cancelled, again

For the second year in a row, TAITRA has cancelled one of its flagship events. Computex was due to be held in early June, but with international travel near impossible, this is an event that simply cannot proceed.

Maldives expects full tourism recovery in 2021

In the good news column, Maldives’ President Ibrahim Solih said that the country plans to fully vaccinate its entire population within six months and it expects to achieve tourism recovery by the middle of 2021 and possibly even exceed the 2019 levels of 1.7 million arrivals. Plenty of good data and tables in this article.

Interview with Freeman’s CEO

An interesting interview with Freeman’s CEO, Bob Priest-Heck. A recent study conducted by Freeman reveals by autumn 2021, 78% of attendees expect to attend a physical event. 94% expect to do so by next winter. Unsurprisingly, digital platforms are becoming more popular for education, but not for exhibitions or networking.

Let’s get travel sorted out with a single approach

A South China Morning Post editorial notes that “a clear route is required to end travel confusion… there is much talk of vaccine passports, ‘travel bubbles’ and digital certificates when the world needs a single viable mechanism.” Hear, hear!

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 2021)

Vinexpo to launch new event in India in 2021

India, will be held from 9th to 11th December 2021. The inaugural edition of the event in India will include both wine and spirits, and the organiser is expecting some 50 wine producers – with 20 to 30 from overseas. The exhibition will run alongside a programme of masterclasses and tasting sessions.

According to media reports, India is one of the world’s biggest markets for spirits, and its wine drinking population continues to grow. According to a report released by Wine Intelligence in 2018, the Indian wine industry recorded a CAGR of over 14% between 2010 and 2017. Another researcher, Research & Markets, released its Indian Wine Market Outlook report in 2018, observing that the Indian wine market had a CAGR of more than 25% from 2011 to 2018.

Quick takes

New case study on safely organising an event

UFI and SISO have released a case study on three independent event organisers coming together in Orlando, Florida to co-locate three fashion events. Informa Markets, Clarion Events and Tarsus Group made it happen. Well done and thanks to UFI and SISO for publishing this important study.

Singapore and Taiwan consider travel bubble

According to a report in The Straits Times, Taiwan and Singapore have been in talks to match Singapore’s unilateral lifting of border restrictions on travellers from Taiwan in December. Let’s see how China reacts to this development…

Informa presses ahead with digital Cosmoprof

WeCosmoprof International is a new digital event under the Cosmoprof brand umbrella. Informa Markets, along with the BolognaFiere Group, will organise the event in June this year. WeCosmoprof is built on technology from the Alibaba Group.

Reed cancels IBTM Asia again

The pain in the industry in Asia continues. Reed Exhibitions has been forced to push back the inaugural edition of IBTM Asia Pacific yet again. The original dates were 6-8 April 2020, then moved to 13-14 April 2021. And now, the new dates are 5-6 April 2022.

Japan asks airlines to further restrict international arrivals

In Asia, we are really still a very long way from recovery, let alone “normal.” Japan has asked all airlines to further limit international arrivals, as the country’s quarantine facility capacity is running low. ANA and JAL are now subject to a weekly cap of 3,400 arrivals, a decrease of 84%. The Olympics are really a pipedream at this point.

Chiang Mai to open city to Indian tourists on 1st April?

Really not sure what to think about this article. “Chiang Mai is drafting plans to reopen its borders to travellers from India and South-east Asia beginning 1st April.” If they are only at the drafting stage, they better draft quickly. 1st April is next Thursday. “Tourism stakeholders in the province have their sights set on India as a sizeable part of the population have been vaccinated.” Actually, only 2% of Indians have had even a single dose. And then there is this little gem: “Next month, 5,000 to 10,000 delegates are expected to attend World Cannabis Day, scheduled to take place in Chiang Mai from April 16-18. More locals will be flocking there too to celebrate Songkran festival.” Tens of thousands in Chiang Mai for Songkran AND World Cannabis Day. What could possibly go wrong?

Quick takes

Iceland opens borders for vaccinated visitors

Let’s hope we see a lot more of this. Iceland will open its borders to all visitors who have been vaccinated “without mandatory testing or quarantine.” This type of common-sense policy is needed to get so many economies back on track.

Need to visit China? Beijing says take our vaccine

In somewhat less positive vaccine news, China is willing to issue a few more visas and allow in foreigners – provided they have received a vaccine made in China (i.e. Sinovac). The politics of vaccines looks set to heat up in the coming months. An the 14-day quarantine rules still nonsensically apply to foreign visitors.

“Trade shows are plotting a comeback”

The Wall Street Journal looks at the US$11 billion trade fair industry and its path to recovery as vaccinations continue to roll out more rapidly each day. (Subscription) It also features a video report on digital passports.

Cathay Pacific records US$2.8 billion loss in 2020

It is a wonder that Cathay Pacific has managed to survive this long with passenger numbers down 87% year-on-year. The airline recorded a net loss of US$2.8 billion in 2020, compared to a net profit of US$217.8 million in 2019.