Hui10 approved to expand with China Sports Lottery

Intuitive Investments Group plc

27 February 2024

 

27 February 2024

Intuitive Investments Group plc

Hui10 secures approval to expand with China Sports Lottery

Intuitive Investments Group plc (SFM: IIG) ("IIG" or the "Company"), the closed-end investment company focussed on fast growing and high potential opportunities in the Technology, Life Sciences and Healthcare sectors, announces the following update in respect of its largest single investment, Hui10 Inc. ("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 has secured official authorisation from the National Sports Lottery, alongside contracts with UnionPay, to allow their Points Exchange for Lottery Tickets ("PELT") to be deployed nationally. PELT is a proprietary software technology, integrated within the UnionPay QuickPass Pay platform.

UnionPay's 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.  

PELT enables UnionPay's 38 million business clients, including banks, mobile phone network operators, insurance companies, utilities, travel companies, airlines, food chains and retailers operating loyalty programmes, to provide their end user customers with the ability to redeem their loyalty points for lottery play. UnionPay is the largest card organisation in the world, with over 9.6 billion payment cards issued.

PELT benefits UnionPay's business clients, providing a new and exciting route for them to redeem their loyalty points and in doing so increasing active user rates. It also benefits the National Sports Lottery through increased brand awareness and revenues by encouraging a broader range of customers to play.

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.  

Enquiries:

Intuitive Investments Group plc	www.iigplc.com
Sir Nigel Rudd, Non-Executive Chairman Robert Naylor, CEO Giles Willits, CIO	Via FTI Consulting
Cavendish Capital Markets Limited James King / William Talkington / Daniel Balabanoff	[phone]
SP Angel Corporate Finance LLP - Financial Adviser	[phone]
Jeff Keating / David Hignell / Kasia Brzozowska
FTI Consulting	[phone]
Jamie Ricketts / Valerija Cymbal / Jemima Gurney	[e-mail]

About Intuitive Investments Group plc & Hui10

IIG is an investment company seeking to provide investors with exposure to a portfolio concentrating on fast growing and/or 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.

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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