New deals, partnerships and markets were at the fore of business discussions at two major tech fairs in Hong Kong last week – InnoEX and the spring edition of the Hong Kong Electronics Fair – as buyers and exhibitors evaluated the prospect of sweeping new tariffs from the US.
International expansion was top of mind for Shenzhen Antop Technology, which showcased special air purifiers for households with pets at the Electronics Fair.
The US market had accounted for more than 80% of the company’s business.
“With the increase in US tariffs, we are actively expanding our global operations and exploring new markets, targeting Asia, Europe and South America,” said International Business Development Manager Bojia Yang.
The company met many potential buyers from India and South America, garnering some strong leads. It is also discussing a contract for a ~US$2.5 million order.
In-person interactions can also be more effective during uncertain times.
“Face-to-face communication with suppliers during this crucial sourcing time and discussing business with them in response to the tariff situation was especially important for us,” highlighted Danny Lo, Director of International Operations for American buyer DeWalt Mobile Solutions.
The company, which produces and sells mobile phone accessories, budgeted up to US$1 million for purchases at the Electronics Fair.
An independent survey of Electronics Fair buyers and exhibitors found that less than 10% of respondents saw sales declining over the next one to two years. Around 50% expected sales to remain steady, while 40% anticipated an increase.
New partnerships, new markets
Market changes can also open up new opportunities.
At InnoEX, Angela Liang, Managing Director of Australia’s Spacious Property Development Group, was looking for tech that could help reduce hotel operating costs. This included automated delivery robots, cleaning robots and vending machines offered by exhibitors from Mainland China and Hong Kong.
“InnoEX provided us with an excellent opportunity to introduce innovative technologies to the Australian market, especially now that the United States has increased tariffs, prompting suppliers from around the world to actively explore other new markets,” Ms Liang remarked.
Exhibitors also established some notable new partnerships at InnoEX.
Philippine buyer Digital Pilipinas and the International Digital Economies Association signed a distribution agreement with Unifi.id from the UK to introduce Unifi.id’s smart card system for buildings to the Philippines, with hopes of expanding into other emerging markets in the future.
Xi’an Meinan Biotechnology signed a strategic cooperation agreement with H & Y Building Decoration Electrical Engineering (HK) to use Meinan’s waterproof mortar technology in Hong Kong and internationally, promoting sustainable development.
In all, some 88,000 buyers from 148 countries and regions attended InnoEX and the spring edition of the Electronics Fair.
“By showcasing the latest smart solutions and R&D achievements to international buyers, exhibitors initiated numerous regional business collaborations and discussions, while successful exploring new markets,” noted Sophia Chong, Deputy Executive Director at the Hong Kong Trade Development Council (HKTDC).
“The exhibitions further advanced Hong Kong’s development as an international I&T hub and reinforced its status as a global centre,” Ms Chong added.
InnoEX was co-organised by the Innovation, Technology and Industry Bureau of the Hong Kong SAR Government and HKTDC, while the Hong Kong Electronics Fair (Spring Edition) was organised by HKTDC.
