New Stock Outlook | Market share reaches 45.4%, leading overseas exhibition company Zhejiang Meorient Commerce & Exhibition Inc. will strive for A-share listing by the end of the year.

Market share exceeds 40%, leading the industry in overseas exhibitions, but has experienced two consecutive years of declining revenue and profits, with the Zhejiang Meorient Commerce & Exhibition Inc., a potential target for the ChiNext board, gearing up for a year-end sprint in the A+H stock markets. Recently, Zhejiang Meorient Commerce & Exhibition Inc. submitted an application for listing to the Hong Kong Stock Exchange, with CMSC International as its exclusive sponsor. Zhejiang Meorient Commerce & Exhibition Inc. is a listed company on the A-share ChiNext board, a leading domestic exhibition services provider. According to Frost & Sullivan data, based on the number and area of overseas self-organized exhibitions held by 2024, the company ranks first among all Chinese overseas exhibition organizations, with market shares of 45.4% and 28.2%, respectively. Zhejiang Meorient Commerce & Exhibition Inc. mainly provides comprehensive services including exhibition management, booth sales, and other exhibition-related services. It has hosted exhibitions in multiple countries and regions across five continents, successfully organizing 77 exhibitions to date and incubating over ten industry-specific exhibition brands covering areas such as home products, consumer electronics, textiles, and industrial machinery. However, in recent years, its performance has been affected by industry conditions causing poor financial results. From 2022 to the first half of 2025, the company's revenues were 348 million yuan, 835 million yuan, 751 million yuan, and 240 million yuan respectively, with net profits attributable to shareholders of 52 million yuan, 188 million yuan, 156 million yuan, and 14 million yuan respectively. Clearly, the company's performance has shown a downward trend since 2024, with the net profit margin dropping from a high of 22.51% in 2023 to 5.83% by the first half of 2025. As of June 2025, the company had cash and cash equivalents of 514 million yuan. Facing declining performance, the company is investing in AI intelligence transformation. Zhejiang Meorient Commerce & Exhibition Inc. focuses on providing exhibition solutions for various industries, primarily through two main businesses: exhibition organization services and exhibition agency services. The majority of the company's revenue comes from the organization services, but due to fluctuations in this business, revenues declined by 12.6% and 5.4% in 2024 and the first half of 2025 respectively, reducing revenue share to 89.4%. On the other hand, the exhibition agency business has maintained a growth trajectory, increasing its revenue share to 9.5%. Exhibition organization services include the entire process from exhibition preparation, implementation, on-site operation to post-exhibition services. Revenues primarily come from booth sales and exhibition-related products and services, including travel and accommodation arrangements. Most of the company's exhibitions are independently organized, such as the BDExpo for building materials and decoration themes and the INTEX International Textile Exhibition. A small portion is co-organized with other exhibition companies or organizations. From 2022 to the first half of 2025, Zhejiang Meorient Commerce & Exhibition Inc. respectively organized 21, 26, 21, and 9 joint exhibitions, with exhibitions mainly focused in mainland China, the UAE, Indonesia, and Japan, hosting a total of 8 events in the first half of the year, contributing 83.7% to the business revenue. It is worth noting that although mainland China has more exhibitions hosted compared to other regions, they are generally smaller in scale, contributing only 5.5% to the business revenue. In addition, the exhibition agency services involve the company purchasing exhibition booths from organizers and reselling them to exhibitors while providing related services such as travel and accommodation arrangements. The majority of the agency services revenue comes from exhibitions held in the UAE and Saudi Arabia. This business segment is relatively stable, with the number of agency exhibitions ranging from 50 to 120 in previous years. In the first half of 2025, there were 50 agency exhibitions, contributing 9.5% to the revenue, showing an increasing trend. Zhejiang Meorient Commerce & Exhibition Inc. is actively leveraging opportunities brought by the AI technological revolution by investing in research...