Friday, October 31, 2014
News this week: Earlier this week, the Hong Kong Trade Development Council (HKTDC) organised the 16th edition of the Hong Kong International Lighting Fair (Autumn Edition) at the Hong Kong Convention and Exhibition Centre (HKCEC). The fair was held from 27th to 30th October and attracted 2,500 exhibitors from 37 countries and regions.
According to the HKTDC, first-time exhibitors originating from Lithuania, Mexico and Portugal were in attendance. The HKTDC also organised 73 buying missions consisting of around 5,900 international buyers from 4,000 companies. The International Lighting Fair showcases the latest in lighting products, technologies and smart lighting solutions.
Major product zones featured in this edition included: advertising lighting, smart lighting & solutions, commercial lighting, household lighting, outdoor lighting, testing, certification & inspection, trade service & publication and lighting accessories, parts & components.
News this week: NASDAQ-listed B2B media company, Global Sources, recently hosted 1,300 exhibitor booths at the AsiaWorld-Expo (AWE). The organiser’s co-located events included China Sourcing Fairs: Fashion Accessories, Garments & Textiles and Underwear & Swimwear, as well as India Sourcing Fair: Garments & Accessories.
The four-day trade show was held from 27th to 30th October. Global Sources reported the participation of many high-profile buyers this year, including representatives of Bestseller Fashion Group, Carrefour, Folli Follie, Giorgio Armani, Landmark Group, Le Chateau, Li & Fung, Nitori, Ralph Lauren, Samsonite, Sears, Triumph, Target Sourcing, Tesco, Wiley Accessories and Woolworths.
Tommy Wong, president of Global Sources Exhibitions, was quoted saying, “Buyers love the ease of sourcing many product lines under one roof. We have Asia’s largest selection of scarves, a new sportswear pavilion and fast growth in our finished-garment and fabric lines. Some lines have double-digit growth since our show last October. This mirrors the robust state of the global apparel industry which is expected to be worth more than US$1,560 billion by 2017.”
News this week: Shenzhen-listed Focus Technology, the operator of Made-in-China.com, has released its results for the quarter ended 30th September 2014. Revenues were US$21 million, down 5% from the same quarter last year. Net income in the quarter was US$3.6 million, a drop of 44% compared with the same period in 2013.
The company also reported its results for the nine months ended 30th September. Revenues in the period were US$64 million, an increase of 2% over the 2013 figure. Net income was US$15 million, a 12% year-on-year increase. The company attributed the drop in revenues and profit to uncertainties facing the recovering global economy and rising operational costs. Diluted earnings per share were RMB 0.80 (US$0.13) in the first nine months of 2014.
As of 30th September 2014, Made-in-China.com had 13,275 registered members, of which 12,550 were registered on the company’s flagship English language site and just 725 on its Chinese site.
News this week: Shenzhen-listed online sourcing platform, Zhejiang Netsun, announced its financial results for the quarter ended 30th September 2014. Revenues were US$5.9 million, representing an 11% decrease over the same period in 2013. The Hangzhou-based company posted a net profit of US$1.5 million, a 10% rise compared with the third quarter of 2013.
Netsun also released its results for the nine months ended 30th September. Revenues amounted to US$20 million, a drop of 23% compared with the first nine months of 2013. Net profit was US$4.8 million, a 4% increase over the same period last year. Earnings per share were RMB 0.14 (US$0.0228).
News this week: The new Zhuhai International Convention & Exhibition Centre (ZICEC) recently opened to add 30,000 m2 of exhibition space to the Pearl River Delta region in southern China. With an initial investment of US$1.1 billion, the venue was developed by Zhuhai’s leading state-owned enterprise, Huafa Group, and managed by Beijing’s China National Convention Center (CNCC).
ZICEC’s exhibition space is spread across six 5,000 m2 column-free halls. Additionally, ZICEC features a 4,500 m2 divisible grand ballroom, a 2,000 m2 plenary hall, opera theatre, concert hall and 35 meeting rooms. The venue is currently supported by the on-site Zhuhai Huafa Sheraton Hotel with 550 rooms. The adjacent 63-storey St. Regis Zhuhai Hotel is expected to open in 2016.
Three co-located events were recently held running from 16th to 18th October. ZICEC hosted 453 exhibitors and 13,000 trade visitors from the printing industry trade show which included the RemaxAsia Expo. The venue’s next event, the inaugural Zhuhai International Automobile Exhibition, will take place from 30th October to 2nd November 2014.
News this week: The Victoria State Government of Australia has approved the proposed expansion plans of the Melbourne Convention and Exhibition Centre (MCEC). Reportedly Australia’s largest and busiest convention and exhibition centre, MCEC posted record results over the previous 12-month period hosting 1,030 events and close to 1.5 million visitors.
MCEC’s expansion proposal of the South Wharf precinct includes new retail space, additional car parks, hotel accommodation and multi-purpose convention and exhibition facilities. According to the venue’s management, the expansion could include additional exhibition and banquet space, smaller meeting rooms, new plenary options and networking and entertainment space.
Bob Annells, chairman of Melbourne Convention and Exhibition Trust, said, “The expansion business case has been in the pipeline with the Victorian State Government and stakeholders for some time and we are grateful for their support. The investment supports the ongoing work MCEC conducts with the Melbourne Convention Bureau to attract business events to Victoria which are worth around A$1.2 billion (US$1.1 billion) each year and generate 22,600 jobs.”
Friday, October 24, 2014
News this week: Earlier this week, the National Exhibition and Convention Center (Shanghai) – NECC Shanghai – successfully concluded its inaugural event attracting some 1,500 exhibitors. Previously held in Beijing, the China International Auto Products Expo (CIAPE) ran from 19th to 21st October 2014.
NECC Shanghai is Asia’s largest purpose-built exhibition centre. CIAPE utilised the venue’s entire north hall covering 106,000 m2 of indoor and outdoor exhibition space in total. CIAPE was divided into 10 product segments covering the likes of finished vehicles, auto parts, tuning products, motorcycles and accessories. According to NECC Shanghai, the three-day show attracted some 130,000 visitors.
NECC Shanghai is situated in Hongqiao district on the west side of Shanghai. The Shanghai Metro opened two exits at the East Xujing station to cater to the travelling public. NECC Shanghai is expected to be fully operational by 2015, and will provide 400,000 m2 of indoor exhibition space over 13 large halls (28,800 m2 each) and three smaller-scaled halls (10,000 m2 each).
News this week: German trade show organiser, Messe Düsseldorf, reported the participation of 1,461 exhibitors from the wire, cable and tube processing industries at the wire & Tube China in Shanghai. The twin shows took place from 24th to 27th September 2014 at the Shanghai New International Expo Centre (SNIEC).
Jointly organised by Messe Düsseldorf (Shanghai) and the Shanghai Electric Cable Research Institute, more than 38,000 trade visitors attended the shows. The organisers reported strong participation from China and other overseas regions including Germany, Austria, France, Italy and North America.
Werner M. Dornscheidt, CEO of Messe Düsseldorf, said, “Messe Düsseldorf, Messe Düsseldorf China and their local partner MC-CCPIT and SECRI are very satisfied with the outcome of the fair. With the rapid growth of wire & Tube China, we managed to not only exceed the visitor and exhibitor results from 2012 but to also strengthen our position as Asia’s leading wire, cable and tube trade fair.”
News this week: Alibaba Group’s B2B e-commerce platform, Alibaba.com, has teamed up with Sydney-based Bigcommerce to launch an integrated sourcing service. Vendors on Bigcommerce will now have direct access to Alibaba’s suppliers from its own platform.
Bigcommerce vendors will also be able to access other Alibaba.com services including its payment protection program and quality control inspection. Bigcommerce is an e-commerce platform serving small- and medium-sized enterprises (SMEs), and operates offices in Sydney, San Francisco and Austin. According to the company, it currently has a user base of more than 55,000 retailers.
Michael Lee, director of global marketing and business development at Alibaba.com, commented, “We are partnering with Bigcommerce to make it easy for our customers to do business anywhere in the world. Alibaba.com and Bigcommerce together are building an integrated ecommerce ecosystem and helping introduce more small- and medium-sized merchants and online stores to the global market.”
News this week: Earlier this week, B2B media company Global Sources held two co-located China Sourcing Fairs: Gifts & Premiums and Home Products at Hong Kong’s AsiaWorld-Expo (AWE) from 19th to 22nd October. A new “Olympic Sourcing Zone” featuring sports-related merchandise was launched at the Gifts & Premiums event this year.
Separately, Global Sources announced the completed launch of its new industry vertical – “Mobile Electronics”. Global Sources launched its China Sourcing Fairs: Mobile Electronics in 2014, which is complement by other industry-specific content offered through its online marketplace, magazine, sourcing alerts and mobile app. The inaugural April 2014 Mobile Electronics trade fair featured 1,050 booths.
Spenser Au, CEO of Global Sources, said “Mobile electronics is a multi-billion dollar with strong growth across all categories and geographies – nearly 2 billion mobile phones will be sold during 2014. Meanwhile, the wearables category is set to explode reaching US$8 billion by 2018. Our services were developed to help buyers in this industry make the right decision – at the right time – by delivering products, suppliers and intelligence through the channels of their choice.”
News this week: One of UBM Asia’s joint venture companies in China, Shanghai-based UBM Sinoexpo, has signed a ten-year strategic cooperation agreement with the Shanghai New International Expo Centre (SNIEC) effective from 2014 to 2023.
UBM reports UBM Sinoexpo’s operations have grown by an average of 10% annually – with exceptionally high growth rates of 23% and 38% recorded in 2007 and 2011 respectively. In 2014, UBM Sinoexpo rented a total of 880,000 m2 of exhibition venue space across China versus total net space sold of 433,451 m2 from trade fairs – for an average utilisation rate of 49.3% during the year.
Separately, UBM plc reported its third quarter interim results ended 30 September 2014. Management expects underlying performance to remain on track for the full year, and highlighted the strong performances of several Greater China-based trade shows. During the quarter, UBM invested US$11.9 million in its events business, which included the acquisition of U.K.-based Seatrade Communications earlier this year.
News this week: Last week, U.S.-headquartered Diversified Communications announced the acquisition of Singapore-based media company HRM Asia. HRM Asia’s 27 staff members will continue to be led by HRM Asia’s general manager Kaveri Ayahsamy. Terms of the deal were not undisclosed. The deal was assisted by exhibition specialist brokers Mayfield Media Strategies.
The acquisition of HRM Asia will see the additions of HR Summit, the HRM Congress series, HRM Magazine and HRM Online to Diversified’s portfolio of more than 175 events, eMedia products and print magazines. According to Diversified, its global operations of 850 staff now extends to eight countries and regions including Australia, Canada, Hong Kong, India, Singapore, Thailand, the U.K. and U.S.
Matt Pearce, Diversified’s international director, commented, “We are acquiring HRM Asia because it fits well with our model of working across a variety of touch points within a community. We see the opportunity to expand the business both locally and internationally.”
This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.
Friday, October 17, 2014
News this week: Earlier this week, the Hong Kong Trade Development Council (HKTDC) held two co-located electronics trade shows at the Hong Kong Convention and Exhibition Centre (HKCEC) with a combined attendance of 4,100 exhibitors from 24 countries and regions.
According to the HKTDC, more than 130 buying missions consisting of 9,900 trade buyers from 68 countries and regions were invited to the twin shows. The Hong Kong Electronics Fair (Autumn Edition) focuses on finished electronic products with new product zones this year highlighting wearable technology, health monitoring gadgets and 3D printing.
Co-organised with MMI Asia Pte Ltd, electronicAsia showcases electronic components and production technologies including printed circuit boards, display technologies and solar photovoltaic technologies. Both trade shows took place from 13th to 16th October.
News this week: UBM Asia (Thailand) is set to hold the second edition of INTERMACH Myanmar and SUBCON Myanmar from 29th to 31st October 2014 at the Tatmadaw Exhibition Hall in Yangon. The trade shows will showcase the latest business tools and high-tech machinery products.
According to UBM, the co-located events will feature more than 50 leading industrial part-makers from Thailand, and some 500 pieces of machinery from more than 150 exhibiting companies originating from 16 countries and regions. The shows will host four group pavilions consisting of exhibitors from Japan, Thailand, China and Taiwan.
Mr M Gandhi, managing director (ASEAN Business) of UBM Asia, said, “After the outstanding success of INTERMACH and SUBCON in Thailand, ASEAN's largest international industrial machinery and subcontracting exhibition, INTERMACH Myanmar and SUBCON Myanmar 2014 is set to follow the same road to success. The show’s inaugural event in 2013 proved to be the perfect place for businesses to source new technology and inspect industrial machinery.”
News this week: Earlier this month, trade show organiser, AMB Exhibitions, hosted more than 250 exhibitors at the Cambodian capital city of Phnom Penh. The co-located trade shows CAMFOOD Expo and CAMHOTEL were held at the Diamond Island Exhibition Centre from 8th to 10th October 2014.
Covering the hotel and food and beverage industries, exhibitor products at the shows included meat, seafood, juices, wine, spirits, beer, coffee, bakery, kitchen equipment and supplies, toiletries and furnishing and beddings. According to AMB, exhibitor products and services originated from 23 countries and regions including Cambodia, Malaysia, Singapore, Thailand, China and the U.S.
Andrew Siow, director of AMB Events Group, said, “We know how difficult it is to source for hotel and food and beverage supplies in Cambodia. By having the exhibition here, operators and owners will no longer need to travel overseas.”
News this week: UBM Asia (Thailand), a subsidiary of UBM Asia, has announced plans for the third edition of Thai Water in 2015. The biennial trade show focuses on the water and waste water treatment industry and will be held from 10th to 13th June at the Bangkok International Trade & Exhibition Centre (BITEC). Thai Water is supported by the Thailand Convention and Exhibition Bureau (TCEB).
UBM expects Thai Water to attract exhibitors representing 1,500 brands from 25 countries and regions, and spread over 5,000 m2 of gross exhibition space. The event will feature group pavilions from Japan, Taiwan, South Korea, Singapore and Germany. Thai Water will be held concurrently with Pumps & Valves Asia and will feature an extensive seminar programme.
Mr Sanchai Noombunnam, group director at UBM Asia (Thailand), said, “Thailand’s industrial sector has always been growing, but as more organisations have seen trade opportunities in the ASEAN region we are faced with new challenges especially regarding water. By organising Thai Water 2015, our goal is to increase water management efficiency in both industrial and household sectors. We will offer a comprehensive range of technologies that provide answers to intelligent water management across the board.”
News this week: Earlier this week, Nasdaq-listed Global Sources hosted 3,700 booths at its China Sourcing Fair’s fall electronics show at Hong Kong’s AsiaWorld-Expo (AWE). The show was held from 11th to 14th October including three electronics-focused events: Electronics & Components, Security Products, and the Korea Sourcing Fair: Electronics & Components.
The 2014 fall electronics show showcased the latest consumer electronics including a variety of suppliers from Mainland China, Korea and nine other countries – most of whom are private manufacturers. In addition, the show also featured dedicated pavilions for in-car electronics and GPS, computer systems and peripherals as well as the debut of the home electronics pavilion.
Tommy Wong, president of Global Sources Exhibitions, noted, “Future development in the consumer electronics industry will be focusing on home, automotive and office. In adopting these new themes for our Electronics & Components show, we are leading the way in providing buyers with the products and intelligence they need to serve their customers. Products like digital health and fitness, digital imaging and accessories, electronics gaming and accessories, car safety and security products, and smart home products will all be featured at the show to provide buyers a convenient platform accessing to all related products under one roof.”
News this week: The Thailand Convention & Exhibition Bureau (TCEB) unveiled its 2015 marketing campaign “Invent-Clone-Upgrade” to increase the number of trade fairs and exhibitions hosted in Thailand.
In preparation for the formation of ASEAN Economic Community (AEC) in 2015, TCEB’s three-pronged marketing strategy is looking to encourage eligible organisers to “invent” new types of trade fairs; “clone”, or replicate some of the country’s most successful fairs in other zones; and lastly to “upgrade” the standard of existing Thai trade fairs.
According to TCEB, the MICE industry generated revenues of US$2.7 billion in 2013, of which US$424 million came from the exhibition and trade fair sector. Looking ahead, the bureau forecasts MICE revenue in 2014 to increase by 10% reaching US$3 billion, while MICE visitor arrivals are expected to reach 888,210 this year.
Friday, October 10, 2014
News this week: Last week, The Thailand Convention & Exhibition Bureau (TCEB) unveiled a new, major initiative, “Thailand CONNECT The World” at IT&CMA and CTW Asia-Pacific 2014. Thailand is expected to attract more than one million MICE travellers in 2015 adding US$3 billion to the Thai economy. TCEB expects about 70% of the international MICE visitors will come from Asian markets with the rest primarily coming from Europe and the U.S.
The campaign focuses on three pillars of the Thai MICE industry: destinations, businesses and people. The campaign also leverages the upcoming implementation of the ASEAN Economic Community (AEC) in 2015 which will put Thailand at the centre of an economic region with 3.4 billion people.
In 2014, Thailand expects to host close to 890,000 international MICE visitors generating total revenues of US$2.9 billion.
News this week: The state of Madhya Pradesh in central India is planning to offer developers a subsidy to build convention centres in a bid to improve on the state’s current MICE infrastructure.
The Madhya Pradesh Tourism Development Corporation (MPTDC) is planning to offer subsidies of up to US$1.6 million and stated that it has land banks at Sanchi, Orchha, Khajuraho and other urban centres to attract developers to invest in tourism projects including convention and exhibition centres.
In the state capital of Bhopal, the new Brilliant Convention Centre opened in 2013, which has a 2,300 m2 convention hall and a similarly sized indoor exhibition hall. According to the MPTDC, there are also plans to develop a second convention centre by the private sector.
News this week: NürnbergMesse’s alliance in India, ExpoNova Exhibitions and Conferences (India) Pvt, will launch a new joint event with German publisher, Verlag für chemische Industrie (SOFW), to focus on the care and cleaning industry. The new event will be held from 4th to 5th March 2015 at the Bombay Convention & Exhibition Centre (BCEC) in Mumbai.
The new event will be held concurrently with the existing HPCI India (Home and Personal Care Ingredients Exhibition and Conference India), under the new title of “HPCI India in Cooperation with The Indian Care Chemical Convention”. The event will feature the original categories covering raw materials and ingredients for cosmetics and cleaning products, manufacturing processes and formulation of cosmetic and personal care products, and household cleaning agents. Newly added content will include the “Care Chemical Convention”.
Co-CEOs of the NürnbergMesse Group, Dr Roland Fleck and Peter Ottmann, issued a joint statement saying, “The cooperation increases business for the NürnbergMesse Group in two ways. ExpoNova extends its event portfolio with another key trade fair for the Indian market, and NürnbergMesse India takes over the organisation of the event.”
News this week: The 40th edition of Taitronics – Taipei International Electronics Show was held from 6th to 9th October 2014 at the Taipei World Trade Center (TWTC) Nangang Exhibition Hall.
Co-organised by Taiwan External Trade Development Council (TAITRA) and Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA), this year’s TAITRONICS featured more than 500 exhibitors occupying 1,200 booths, which showcased the latest products and technologies at the four-day event. The theme of this year was “Green Electronics, Smart Living” and focused on sustainable development and the growing role of electronics in daily life.
According to TEEMA president David Chen, wearable device shipments are expected to reach 74 million units this year, led by smartwatches. The organisers also estimated the business deals completed during TAITRONICS to value at US$500 million.
News this week: The 2014 China Toy Expo and China Kids Expo will open next week running from 14th to 16th October, at Shanghai New International Expo Centre (SNIEC), covering 120,000 m2 of exhibitions space with 1,364 exhibitors worldwide – up 24% from last year.
Organised by the China Toy & Juvenile Products Association (CTJPA), the co-located fairs are expected to attract more than 80,000 trade visitors from China and overseas. According to media reports, exhibitors from more than 20 key production regions in China will participate along with over 300 international toy and baby products brands from more than 30 countries and regions – that represents a 32% increase over last year.
May Liang, executive vice president of CTJPA, commented, “Although exhibition space has been sold out since early September, we are still receiving many requests and interests to participate both from domestic and international companies. I am also pleased to release that show visitor pre-registrations from mainland China and overseas has increased by 72% and 149% respectively.”
News this week: International trade fair organiser Messe Frankfurt announced it will relocate the spring edition of Intertextile Shanghai Apparel Fabrics and Yarn Expo Spring to a new venue in Shanghai and it will discontinue the Hong Kong edition of Interstoff Asia Essential – effective next year.
The organiser decided to relocate its two Shanghai-based trade shows to the new 400,000 m2 National Exhibition and Convention Center in Shanghai’s Hongqiao district to allow for further growth – where they will run concurrently with the 23rd edition of the China International Fashion Fair (CHIC). CHIC is jointly organised by Beijing-based organiser Fashion Expo and the China World Trade Center.
Addressing the ending of Interstoff Asia Essential in Hong Kong, Messe Frankfurt claims a steady shifting of textile manufacturing and fashion buying offices from Hong Kong to China in recent years influenced its decision to focus all of its efforts in mainland China.
News this week: This week, the Hong Kong Exhibition and Convention Industry Association (HKECIA) issued a statement to reassure all participants, visitors and exhibitors that despite the on-going student protests in Hong Kong, events are still running smoothly and largely without interruption.
Public transport links to Hong Kong’s two major venues, the Hong Kong Convention and Exhibition Centre (HKCEC) and AsiaWorld-Expo (AWE), are running close to normal. The Mass Transit Railway (MTR), and the ferry services are operating as usual, although some bus routes are affected and special traffic arrangements are in place in certain locations near HKCEC.
Javed Khan, chairman of HKECIA, was quoted saying, “Our advice to participants in upcoming conferences and exhibitions is that Hong Kong is definitely still open for business and safe to travel. We have seen that trade shows which have successfully completed last week or are scheduled this week in Hong Kong have, aside from some minor travel disruption, continued as normal.”
Friday, October 03, 2014
News this week: Reed Exhibitions has announced a new joint venture (JV) partnership agreement with Korean exhibition organiser, K.Fairs Ltd. Under the new agreement, the first event the two companies will jointly organise is a maritime event – Kormarine. Reed K.Fairs Ltd. will organise the next edition of Kormarine, which will take place in Busan’s BEXCO from 20th to 23rd October 2015.
Billed as Korea’s largest international maritime industry event, the 2013 edition of Kormarine attracted over 1,000 exhibiting companies and 40,000 visitors from over 70 countries. Kormarine was first launched in 1978 showcasing boats, ships ferries, and the latest in engine, deck and fishing equipment and technologies.
Paul Beh, Reed Exhibitions’ Asia Pacific president, commented, “Kormarine is the biggest maritime event in Reed’s portfolio, further strengthening our presence in Asia’s maritime industry, namely Asia Pacific Maritime in Singapore, Indonesia Maritime Expo (IME) in Indonesia, and Oceanology International China.” Mike Rusbridge, chairman and CEO of Reed Exhibitions, added, “Kormarine is Reed’s debut into the nation’s burgeoning maritime industry. Reed is optimistic we will rapidly expand our Korean presence even further in future.”
This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.
News this week: UBM plc announced at its recent World Route Development Forum held in Chicago that the 14th edition of Routes Asia will be held in the Philippines’ capital city of Manila. The three-day event will run from 6th to 8th March 2016.
The 2016 edition of Routes Asia will be hosted by the Philippine Department of Tourism, and co-hosted by the Manila International Airport Authority, Tourism Promotions Board Philippines and the Mactan-Cebu International Airport Authority.
Routes, founded in 1995, organises airline and airport networking events. Every year, Routes hosts one global event, World Route Development Forum and one regional event each in Asia, Africa, Europe, the Americas and the Commonwealth of Independent States (CIS).
News this week: Last week, Hong Kong-listed exhibition organiser, Mega Expo, reported its financial results for the year ended 30th June 2014. Revenues in the year were US$27 million, a year-on-year decrease of 6.7%. Profit dropped 46% within the year, down to US$1.8 million. Diluted earnings per share in the year were HK$0.0774 (US$0.001).
The majority of Mega Expo’s revenues were generated from the exhibition organising business, amounting to US$25 million. The remaining revenues were generated from exhibition related services (US$1.3 million) and ancillary services (just US$10,000). In the reported financial year, revenue generated from exhibition related services slipped 7.0%, while the ancillary services declined by 24%.
Mega Expo attributed the decrease in revenue to the postponement of the Las Vegas Asia Expo 2013, which was originally scheduled to take place in August 2013. The company’s management also cited competition from other exhibition organisers contributed to the drop in revenue.
News this week: Hong Kong-listed B2B e-commerce company, HC International, announced that its proposed transfer of its stock listing from the Hong Kong Growth Enterprises Market (GEM) to Hong Kong Stock Exchange’s Main Board has been accepted. The company will officially begin trading under stock code “02280” on 10th October 2014.
HC was publicly listed in December 2003 and it operates a number of sourcing directories in China including its B2B e-commerce platform, Mai-Mai-Tong (www.hc360.com). The transfer of HC’s listing will not affect the company’s existing 662,816,618 issued shares. HC’s shares closed at HK$13.92 as of 30th September 2014 with a 52-week price range of HK$8.56 to HK$23.65.
For the year ended 31st December 2013, HC recorded revenues of US$138 million, up 53% compared with its 2012 results. Net income last year was US$25 million – a jump of 132% compared with the year before.
News this week: Messe Düsseldorf concluded its co-located exhibitions earlier this month with record-breaking numbers in terms of both exhibitors and visitors. The biennial events, INDOPLAS, INDOPACK (incorporating INDOPROCESS) and INDOPRINT, were held from 3rd to 6th September, at Jakarta International Expo (JIExpo).
The four-day events covered 13,000 m2 of exhibition space and attracted 362 companies from 19 countries – that is a 30% increase compared with the previous edition in 2012. More than 22,000 trade buyers visited the events, representing a 20% rise versus the previous edition.
The three concurrent events featured a wide range of technologies and innovations including energy-efficient machinery, the latest equipment and applications, new product solutions and services covering the plastics, packaging, processing and printing sectors.
News this week: Last week, the Hong Kong Trade Development Council (HKTDC) announced the promotion of former deputy executive director, Margaret Fong, as its newly appointed executive director. She had replaced the recently departed Fred Lam with effect from 1st October 2014.
Fong joined the HKTDC in 2010. She has served as HKTDC’s deputy executive director since 2010, overseeing the international promotion of Hong Kong’s product and service industries and the HKTDC’s network of more than 40 offices worldwide.
Chairman of HKTDC, Jack So, was quoted saying, “Since joining us, Margaret has achieved significant success in leading our efforts to promote Hong Kong as Asia’s business hub and create opportunities for Hong Kong-based companies in developed and emerging markets. She has also been instrumental in fostering closer ties with our stakeholders and the community through the use of new media.”