RCS - Intuitive Invests.Gp - Hui10 approved to expand with China Sports Lottery

Intuitive InvestmentsAnnouncement

27/02/2024 07:00

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RNS Number : 5230E  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 (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 / William Talkington / Daniel Balabanoff

 SP Angel Corporate Finance LLP - Financial Adviser    +44 (0) 20 3470 0470
 Jeff Keating / David Hignell / Kasia Brzozowska

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

 

 

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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