China’s Meorient Files for Hong Kong IPO Amid Profit Slump and Expansion Plans
Zhejiang Meorient Commerce & Exhibition Inc. has filed for a Hong Kong listing, aiming to expand its presence beyond its 2019 Shenzhen debut. The company, a major organiser of overseas exhibitions for Chinese exporters, has chosen China International Capital Corporation (CICC) to lead the offering. Despite its strong market position, Meorient faces challenges after a sharp drop in profits this year.
Meorient specialises in connecting Chinese exporters with global buyers through large-scale product fairs. Its flagship events, including Homelife and Machinex, span over 30 countries. In 2024, the firm ranked first among China-based organisers of overseas exhibitions, holding a 45.4% market share.
Revenue from self-organised exhibitions made up 94.5% of its first-half turnover in 2025. However, overall revenue fell by about 7% in the same period, partly due to fewer events and lower booth sales. Net profit plunged nearly 62%, weighed down by rising expenses.
The company’s financials remain robust in some areas. Total assets reached around 836 million yuan at mid-year, with cash reserves of approximately 514 million yuan. Gross margins have stayed strong, averaging between 48% and 50% from 2022 to 2024—higher than many competitors focused on venue provision or agency work.
Meorient’s business heavily depends on Chinese export-oriented firms, which account for 98.8% of its clients. The planned IPO funds will go toward technical upgrades, global expansion, logistics improvements, and new industry-focused exhibitions.
The Hong Kong listing could strengthen Meorient’s capital base and support its growth plans. Yet, with its stock already down 17% this year, the IPO may face pressure if pricing is set too high. The company’s next steps will depend on market conditions and its ability to reverse recent profit declines.
