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
|
+44 (0) 20 7397 8900
|
|
|
SP
Angel Corporate Finance LLP - Financial Adviser
|
+44 (0) 20
3470 0470
|
Jeff Keating / David Hignell / Kasia
Brzozowska
|
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FTI
Consulting
|
+44 (0) 20
3727 1000
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Jamie Ricketts / Valerija Cymbal /
Jemima Gurney
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IIG@fticonsulting.com
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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.