Plans and manages business and academic events for organizations, and arranges packaged tours and travel services for travelers.
20-F for FY2025, filed Apr 30, 2026“MICE,” an acronym for meetings, incentives, conferences, and exhibitions, represents a specialized sector within the tourism industry…View ↗
Due to the essential role of travel arrangements in MICE events and the status of the Middle East region as a favored travel destination, a…View ↗
Clients of the MICE management service include industry associations and companies in a wide range of industries such as consumer goods…View ↗
Clients of our one-stop tourism service include individuals, companies, and government departments. No client accounted for more than 10%…View ↗
Companies pay fees for event planning and management, with the MICE fee earned when the event is completed. Travelers buy packaged tours; travel suppliers pay commissions when tickets are issued or hotel reservations can no longer be canceled, and the company also earns travel-service fees and commissions.
20-F for FY2025, filed Apr 30, 2026The Group generates revenue from providing MICE management solution services to corporate customers for their business purpose tourism. The…View ↗
The Group also operates its self-operated local tour operator business in various destinations by directly providing destination-based…View ↗
The Group receives commissions from travel suppliers for ticketing reservations and other related services through the Group’s transaction…View ↗
The Group receives commissions from travel suppliers for hotel room reservations through the Group’s transactions. Commissions from hotel…View ↗
Other revenue primarily comprise revenue generated from service fees received from insurance companies and commission fees from other…View ↗
20-F for FY2025, filed Apr 30, 2026
FY2025 revenue by product or service ↗$20.2M
20-F for FY2025, filed Apr 30, 2026
$20.2M ↗| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
MICE management solution services revenue
Sold outright
20-F for FY2025, filed Apr 30, 2026 |
85% |
MICE management solution services revenue, FY2025
$17.2M Sources
|
Sold outright |
|
Packaged tours services revenue
Sold outright
20-F for FY2025, filed Apr 30, 2026 |
11% |
Packaged tours services revenue, FY2025
$2.2M Sources
|
Sold outright |
|
Commission revenue for transportation ticketing and accommodation reservation services
Usage-based
|
3.8% |
Commission revenue for transportation ticketing and accommodation reservation services, FY2025
$767K Sources
|
Usage-based |
|
Other revenue
|
0.5% |
Other revenue, FY2025
$100.3K Sources
|
Companies and industry associations hire the company directly or through travel agencies for events; individuals, companies and government departments use its packaged tours and travel services.
20-F for FY2025, filed Apr 30, 2026Clients of the MICE management service include industry associations and companies in a wide range of industries such as consumer goods…View ↗
Our subsidiaries enter into service agreements either directly with our MICE management service clients or the travel agencies engaged by…View ↗
Clients of our one-stop tourism service include individuals, companies, and government departments. No client accounted for more than 10%…View ↗
Our subsidiaries enter into service agreements with our one-stop tourism service clients. Although each service agreement is unique…View ↗
Our subsidiaries offer these services separately to clients who are not part of their MICE business or one-stop tourism customer base. For…View ↗
Yes. It kept 6 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$1.1M.
20-F for FY2025, filed Apr 30, 2026
$1.3MView ↗
20-F for FY2025, filed Apr 30, 2026
$1.2MView ↗
20-F for FY2025, filed Apr 30, 2026
−$1.1MView ↗
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