Zhejiang Meorient Commerce & Exhibition (SZ:300795) Zhi Tong Cai Jing·2025-12-25 08:10Company Overview - Zhejiang Miaolante Business Exhibition Co., Ltd. (Miaohui Exhibition) has submitted its listing application to the Hong Kong Stock Exchange, with China Merchants Securities International as its sole sponsor [1] - Miaohui Exhibition is a mature exhibition service provider, offering three main types of services: exhibition hosting, exhibition agency, and other services [3] - The company ranks first among all Chinese overseas exhibition institutions in terms of the number and area of self-organized exhibitions held abroad in 2024 [4][19] Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, were approximately RMB 348.31 million, RMB 834.97 million, RMB 751.37 million, and RMB 240.78 million respectively [6][8] - The net profit for the same periods was approximately RMB 51.15 million, RMB 197.26 million, RMB 163.05 million, and RMB 20.59 million [7][8] - The gross profit margin for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, were 48.1%, 49.4%, 49.7%, and 50.5% respectively [9][10] Industry Overview - The exhibition industry is a highly organized segment of the modern service economy, facilitating efficient information exchange and business interactions [11] - The global exhibition industry is expected to experience robust and structural growth from 2024 to 2029, with the number of exhibitions projected to increase from 32,214 in 2024 to 49,921 in 2029, representing a compound annual growth rate (CAGR) of approximately 9.2% [12] - The Chinese exhibition industry is also expected to see significant recovery, with the number of exhibitions increasing from 5,408 in 2020 to 9,110 in 2024, and further projected to reach 10,385 by 2025 [14] Competitive Landscape - Miaohui Exhibition holds a market share of 45.4% among Chinese overseas exhibition institutions for self-organized exhibitions in 2024 [20]