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
|
|
Sir Nigel Rudd, Non-Executive
Chairman
Robert Naylor, CEO
Giles Willits, CIO
|
Via FTI Consulting
|
|
Cavendish Capital Markets Limited
James King / Daniel
Balabanoff
|
+44 (0) 20
7397 8900
|
|
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.