REG - Intuitive Invests.Gp - Hui10 Secures Landmark Agreement with Team China

Intuitive InvestmentsAnnouncement

20/01/2025 07:00

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RNS Number : 8595T  Intuitive Investments Group plc  20 January 2025

20 January 2025

 

Intuitive Investments Group plc

("IIG" or the "Company")

Hui10 Secures Landmark Agreement with Team China

Supporting national sports development

Strengthening Hui10's market position

Intuitive Investments Group plc (SFS: IIG) ("IIG" or the "Company"), a
closed-end investment company focused on high-growth opportunities in the
technology and life sciences sectors, announces a significant milestone for
its investee company, Hui10 Inc. ("Hui10"), which has secured a landmark
agreement with the General Administration of Sport of China.

This strategic partnership provides an opportunity for Hui10 to support Team
China, the national sports teams of the People's Republic of China, competing
on the world stage at prestigious events such as the Olympic Games, World
Championships, and other major international sporting competitions. Under this
agreement, Hui10 will have the exclusive rights to promote Team China and its
merchandise through its network of dedicated lottery shops, and through
HongBao Sports Lottery.

Team China merchandise is a symbol of national pride and sporting excellence,
and Hui10 is uniquely positioned to bring these iconic products to its
expansive existing customer base of over 100 million through its network.

This also marks a transformational milestone in Hui10's growth strategy,
which:

·    Positions Lucky World as the largest connected retail network in
China, once fully integrated;

·    Enhances Hui10's leadership in China's retail and lottery sectors;
and

· Aligns Hui10 with China's national sports development agenda, enhancing
its corporate image and strengthening relationships with regulatory bodies and
key stakeholders.

The agreement

The agreement grants Hui10's Lucky World the rights to launch and operate 31
flagship Team China Sports Lottery branded stores retailing its range of
official branded products such as football shirts and Olympic team apparel and
collectibles. These products will be available online, in these flagship
stores and across all China's c.200,000 Sports Lottery shops, reaching the
existing 100 million lottery shop consumers while providing the opportunity to
expand this customer base by attracting new customers to the stores.

The agreement also enables HongBao Sports Lottery with each purchase of Team
China merchandise. HongBao allows consumers to earn lottery credits and is
integrated into China UnionPay's national clearing and interbank settlement
system, ensuring secure and easy reward redemption and appealing to the
broader, tech-savvy audience increasing engagement with both Team China and
the Sports Lottery.

Hui10 aims to open 3 flagship Team China Sports Lottery stores in 4 months,
with a goal to open 20 stores in 20 regions across China by the end of 2025.
Flagship stores in key regions will offer a unique "lottery meets sports"
experience, fostering deeper consumer engagement and loyalty.

 

Sir Nigel Rudd, Chairman of IIG, commented: "The Team China contract
highlights the importance of the lottery shops in China and the role of the
lottery in supporting China's sporting excellence. Hui10 sits at the centre of
the development of both the lottery shops, through its Lucky World platform,
and the Chinese Lottery through its digitisation strategy to expand lottery
participation. This collaboration further demonstrates how Hui10's platform
can connect communities, improve the retail experience, and contribute to the
growth of national sports. This is a significant landmark for Hui10
underpinning the substantial opportunity Hui10 will deliver for IIG
shareholders."

Enquiries:

  Intuitive Investments Group plc                   www.iigplc.com (http://www.iigplc.com/)

 Sir Nigel Rudd, Non-Executive Chairman             Via FTI Consulting

 Robert Naylor, CEO

 Giles Willits, CIO

 Zeus                                               +44 (0)20 3829 5000

 Nick Cowles / Graeme Summers / Dominic King

 FTI Consulting                                     +44 (0)20 3727 1000

 Jamie Ricketts / Valerija Cymbal / Jemima Gurney   IIG@fticonsulting.com

 

About Intuitive Investments Group plc

IIG is an investment company seeking to provide investors with exposure to a
portfolio concentrating on fast growing, high potential Technology and Life
Sciences businesses operating predominantly in the UK, continental Europe, the
US and APAC, utilising the Board's experience to seek to generate capital
growth over the long term for shareholders.

About Hui10

Hui10 is a technology company with interests in two operating businesses,
Huishi Dehua and Huishi Chunyuan ('Lucky World'), involved in the digital
transformation of the Chinese lottery. Huishi Dehua enables the market
expansion of the Chinese lottery through its proprietary technology platform.
Huishi Dehua is integrated into China's national card settlement system and
payment platform, UnionPay. Hui10 holds a 33% share in Huishi Dehua. Lucky
World is an ecommerce platform which provides China's existing lottery shops
access to a wider fast-moving consumer goods product offering. Hui10 owns 60%
of Lucky World.

 

 

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