REG - Intuitive Invests.Gp - Hui10 Contract Win with Alibaba

Intuitive InvestmentsAnnouncement

04/09/2024 07:00

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RNS Number : 7913C  Intuitive Investments Group plc  04 September 2024

4 September 2024

Intuitive Investments Group plc

("IIG" or the "Company")

 
Hui10 Contract Win with
Alibaba

Alibaba's three million food delivery riders able to exchange their reward
points for lottery tickets

Intuitive Investments Group plc (SFS: IIG), the closed-end investment company
focussed on fast growing and high potential opportunities in the technology
and life sciences sectors, is pleased to announce Hui10's new contract with
Alibaba's "ErLeMa" (Are You Hungry) food delivery service.

The new points exchange for lottery tickets ("PELT") contract with Alibaba
enables their three million delivery riders to redeem their Golden Coins for
PELT QR code lottery coupons, for in-shop redemption for Sports Lottery play.
The riders receive bonuses paid in digital reward points known as Golden
Coins, based on customer reviews which in total amount to RMB3 billion (US$410
million) per year, with RMB5 billion (US$700 million) currently accrued, ready
to redeem. Under this new agreement, delivery riders will now have access to
Sports Lottery play through Hui10's PELT platform.

This contract marks a significant development in the roll-out of Hui10's PELT
platform ahead of further opportunities currently in the pipeline, helping
further advance Hui10's goal to transform Chinese lottery sector through its
proprietary technology platform.

-ENDS-

 

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

 Cavendish Capital Markets Limited                   +44 (0) 20 7397 8900

 James King / Daniel Balabanoff

 FTI Consulting                                      +44 (0) 20 3727 1000
 Jamie Ricketts / Valerija Cymbal / Jemima Gurney    IIG@fticonsulting.com

Notes

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.

About PELT

Hui10's PELT platform enables all UnionPay's 38 million member merchants,
including banks, mobile phone network operators, insurance companies,
utilities, travel companies, airlines, food chains and retailers operating
loyalty programmes, to provide their customers with the ability to redeem
their loyalty points for digital QR code vouchers for lottery play. The PELT
platform is now fully functioning and available in all Sports Lottery shops in
China, meaning users exchanging their loyalty points for digital QR code
Sports Lottery vouchers can redeem them for lottery play at any one of the c.
175,000 Sports Lottery shops. PELT is a significant opportunity for new
customer acquisition, allowing Hui10 to grow a substantial registered user
base to which it can offer additional products and services.

Customers receive a direct message or see a banner or icon in their loyalty
programme APP informing them that they can now redeem their loyalty points for
lottery play by clicking on the PELT link. The PELT APP allows end users to
redeem loyalty points for a digital coupon, which is stored in the user's
account in the form of a QR code. The user can redeem the QR code in the
nearest lottery shop, the location of which is also shown in the PELT APP.
Hui10 is currently signing up UnionPay business clients with a target to
acquire 2 million registered PELT users by end 2024.

About the Hui10 Proprietary Platform

The Chinese lottery is currently a paper tickets only operation being sold
from lottery only shops, with limited distribution in relation to the size of
the addressable market. Growth in the number of betting shops and lottery
sales has now reached a plateau. To unlock the real potential size of China's
lottery sector and increase its growth rate, a technological and application
revolution is required. Hui10 is core to this transformation.

Hui10 is modernising China's lottery sales and distribution methodology
through its proprietary fully integrated technology platforms.  Hui10 has key
agreements with China UnionPay, which is the largest card organisation in the
world, with over 9.6 billion payment cards issued, 2.5 billion active cards,
over 450 million QuickPassPay APP users and 35 million POS terminals to allow.
This includes Points Exchange for Lottery Tickets (PELT). Deployed nationally
in all Sports Lottery shops, PELT is a proprietary software technology,
integrated within the UnionPay QuickPassPay platform. QuickPassPay is a
lifestyle platform and has a growing base of over 450 million registered
users. The platform incorporates all mobile payments functions, a ticket
booking platform, taxi, train, bus, tube, air travel booking, home utilities
management and payments, food and beverage delivery, restaurants, online
shopping and much more.

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