|Strategically Develops MICE Business in China;|
Effectively Realises Progressive Strategic Expansion
HONG KONG, Jan 18, 2019 - (ACN Newswire) - Mega Expo Holdings Limited ("Mega Expo" or the "Group"; stock code: 1360), a leading provider of services concession, licensing and brand management services, and comprehensive operations solutions for the cultural and entertainment industry, is pleased to announce that the Group's wholly-owned subsidiary Mega Expo International Limited ("ME International") recently has entered a non-legally binding strategic cooperation framework agreement with Hunan Province for Good Agri-products Development& Service Association ("Hunan Agri-products Association") regarding the undertaking of the 2019 China Hunan Good Agri-products Seed Industry Expo cum Healthy Ingredient Expo from 1 January 2019 to 31 December 2019. After ME International successfully arranged the China International Import Expo in Shanghai last year, the Group's business has now extended to Hunan province in China and will subsequently organize a large MICE event there. Hence, the Group is able to achieve effective and progressive strategic expansion.
The 2019 China Hunan Good Agri-products Seed Industry Expo cum Healthy Ingredient Expo aims at "promoting agriculture through quality, green farming and brand building". The event provides an outstanding platform for production and processing companies of quality agri-products to exhibit their products and services, as well as an opportunity for trading negotiation, business and investment solicitation. Thus the event can facilitate the distribution of agri-products, enhance the branding advantage of quality agri-products and the competitiveness of domestic agri-products globally. It is also an important investment strategy for Mega Expo's exhibition business going forward.
According to the "2017 Report on Development of the Exhibition Industry in Hunan Province" published last year, the number and scale of exhibitions has continued to expand in Hunan. In 2017, 846 exhibitions, meetings and festivals were held, 11% more than the previous year. Direct income recorded for the exhibition industry increased by 15% year-on-year to nearly RMB3 billion. Among all, 410 large exhibitions were held at the provincial scale, 47 more than the previous year; and the number of national and international meetings also increased by 11 year-on-year to 277. Hunan Province held 159 major events in 2017, 28 more than last year. The cooperation with Hunan Agri-products Association propels the Group to further explore the strong growth potential in China's convention and exhibition industry.
In recent months, ME International has accomplished a number of important milestones in the MICE business, including the organisation of the Japanese Technology and Culture Exhibition at Shanghai Hongqiao Import Trade Exhibition Center last November, the acquisition of Shanghai Keytrade Exhibition Co., Ltd. and the forging of strategic cooperation with the Unattended Retail Branch of China Commerce Association for General Merchandise to organise retail and consumption-related commercial exhibitions in China.
Mr Deng Zhonglin, Chairman of Mega Expo, said, "ME International is leading the development of the Group's convention and exhibition business in China, and our continuous and vigorous effort has been gradually contributing to a positive result. Through effective capital management and branding activities, we will seize the opportunity and attract private companies with resources and competitive advantages to join our platform. We aim to realise rapid expansion of the scale of our business and to further tap China's convention and exhibition market".
About Mega Expo Holdings Limited (Stock code: 1360)
Mega Expo Holdings Limited is a leading provider of services concession, licensing and brand management services, and comprehensive operations solutions for the cultural and entertainment industry. Its business covers mainly preparation and management of exhibitions, and provision of comprehensive and systematic operational solutions to the cultural and entertainment industries. For organizing and management of exhibitions, Mega Expo provides one-stop contract service that entails booth design, equipment procurement and installation, and also planning of exhibitions, product launch, overseas exhibitions, promotions and music awards, etc. As for provision of operational solutions to the cultural and entertainment industries, Mega Expo mainly offers brand licensing and operation service for bars and restaurants. Its subsidiary brand "NOD Union" provides comprehensive business consultation, membership services, contracting services and entertainment equipment solutions, plus activity planning services and financing service to clubs, bars and lounges in the entertainment industry and alcohol and beverage suppliers.
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Jan 18, 2019 19:53 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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