V1 Group achieved enterprise turnaround and accomplished restructuring in 2020

Deal with sports activities quiz, set to turn out to be a number one digital sports activities leisure group in China

HONG KONG, March 19, 2021 /PRNewswire/ — V1 Group Restricted, (“V1 Group” or the “Firm“, along with its subsidiaries, the “Group“; inventory code: 82) publicizes in the present day its audited outcomes of the yr ended 31 December 2020.

From the acquisition of Loopy Sports activities in 2018 to the completion of restructuring by finish 2020, the Group divested its telemedia and e-commerce companies, then landed a foothold in Hainan and secured approval for sports activities quiz enterprise; it then signed an settlement with FIFPro, along with China Tremendous League gaining prime soccer IPs. Having been nurtured for 3 years, Loopy Sports activities has advanced into the core enterprise engine of the Group, and is progressing in the direction of its purpose of turning into the main digital sports activities leisure group in China.

In 2020, all enterprise segments of Loopy Sports activities grew quickly. Loopy Sports activities continued to concentrate on product innovation and consumer expertise enhancements regardless of in the course of the pandemic:

  • Loopy Pink Insights continued to broaden its cooperation with different channels. It has entered into agreements with roughly 27 platforms with excessive customers site visitors, that includes sports activities lottery paid contents and video and audio productions.

  • Some 18 comfort retailer chains signed contracts with the Group, concentrating on at seizing bigger shares out there. The variety of handy shops reached will hit the 30,000 mark to entice new lottery patrons. Cooperation with 1,003 retail factors of gross sales in complete had been reached by end-2020, amongst which, a single retailer hitting highest single-store-sales mark of just about RMB20,000 per 30 days.

  • Loopy Sports activities entered into an settlement with a global sports activities group – Fédération Internationale des Associations de Footballeurs Professionnels (FIFPro) for official IP rights and on the point of roll out its UEFA Euro technique. Along with the official IP rights from China Tremendous League, Loopy Sports activities will launch a wide range of sports activities cellular video games.

  • Loopy Sports activities has secured approvals from related authorities in Hainan Province to develop a sports activities quiz platform and reward factors system in Hainan pushed by blockchain expertise. Efforts getting ready for the graduation of this enterprise section have been progressing vigorously, together with a brand new on-line membership bonus factors system and a present redemption system on the e-store on the live-streaming interactive platform of Loopy Sports activities, aiming to foster customers engagement, thus firming the footing for constructing an built-in sports activities and leisure platform that includes video games info, video games prediction, dwell broadcasts and sports activities communities in 2021.

Throughout the yr below evaluate, income generated from persevering with operations reached HK$300.8 million, up 61.7% from 2019. The rise was pushed by sports activities video games on account of greater shopper spending when the home-stay order was in drive throughout the first half of 2020. The resumption of sports activities occasions within the second half of 2020 spurred on-line consumption of sports activities and sports activities lottery info and commissions generated from offline sports activities lottery gross sales companies.

Gross revenue from persevering with operations was HK$130.7 million, representing a gross revenue margin of 43.5%. Working revenue from persevering with operations of HK$68.5 million, evaluating with the adjusted lack of HK$97.3 million in persevering with operations throughout 2019. The Group had thus completed a turnaround to return to revenue on the persevering with operations stage, showcasing revenue prospects of Loopy Sports activities and the Group’s strategic funding portfolio. This is a crucial place to begin for the Group’s monetary efficiency sooner or later.

The section belongings of the Group’s sports activities and lottery associated enterprise stood at HK$581.8 million, with return on belongings reached 11.8%.

An one-off loss had been incurred from the discontinuation of telemedia and e-commerce enterprise subsequent to the restructuring in 2020. Related intangible belongings and goodwill have been totally written off in 2020. Loss for the yr was HK$131.3 million.

Along with its core enterprise, the Group’s strategic funding portfolio was valued at HK$423.4 million. The Group obtained dividend revenue totaled HK$46.0 million, offering it with a strong asset base and funding capital returns. After restructuring, the Group’s asset construction confers greater readability with asset-light properties and low gearing.

The Board has proposed to vary the English identify of its Firm to “Loopy Sports activities Group Restricted”, whereas its Chinese language identify to “瘋狂體育集團有限公司”, topic to shareholders’ approval within the upcoming annual basic assembly in Could. From 2021 onwards, Loopy Sports activities will deepen implementation of the next progress methods: pursuing institution of a blockchain-driven sports activities quiz platform and reward factors system; accelerating the rollout of sports activities lottery retail factors of gross sales throughout the nation; reinforcing the main place of Loopy Pink Insights paid info, creating quite a few sports-themed video games by exploiting core IP rights; investing in technological and massive information capabilities, and enhancing the model consciousness of Loopy Sports activities by implementing advertising methods. The administration is assured in mobilizing platform consumer assets, attracting new lottery gamers and the youthful technology to broaden the month-to-month lively consumer base, encouraging consumer participation throughout the Group’s ecosystem, reaching monetization by cross-selling and increasing the paid consumer base of the platform.

V1 Group CEO Mr. Peng Xitao stated: “The sports activities lottery market is characterised by sturdy end-user demand. Along with common matches like Premier League, prime 5 leagues in Europe and NBA, and many others., 2021, 2022 and 2023 will see internet hosting of UEFA Euro, Copa America, Tokyo Olympic Video games, Qatar World Cup qualifier, World Cup, Beijing Winter Olympic Video games, FIFA Membership World Cup, Asian Cup and different sports activities occasions. Alternatives within the sports activities trade are monumental. Hainan Province is thought to be a showcase area for the sports activities trade in China, creating exponential alternatives. Combining the long run improvement positioning of Hainan Province and the favorable insurance policies by the Central Authorities, the mission approval for Loopy Sports activities to ascertain a blockchain-technology-driven sports activities quiz platform and reward factors system in Hainan will strengthen our competitiveness, creativity and operation effectivity. That is our key strategic foothold within the sports activities trade, representing a significant improvement alternative in historical past for us.”

V1 Group Chairman Zhang Lijun stated: “Loopy Sports activities is integrating assets, as supported by Hainan sports activities quiz qualification, leveraging superior blockchain expertise, complete utility of core aggressive capabilities together with huge lottery consumer assets, huge huge information and prime soccer IPs, to turn out to be an operator that gives sports activities lottery paid info companies, sports activities social interactive platform, sports activities quiz, sports-themed video games, in addition to offline sports activities lottery gross sales companies. By way of a complete on-line and offline sports activities group ecosystem construction, it facilitates exponential consumer progress, establishing a consumer redirection and synchronized consumption enterprise mannequin. The graduation of ”14th 5-12 months Plan” will see the sports activities market concentrating on to reaching a measurement of RMB5 trillion by 2025. Sports activities lotteries signify our important foray into this trillion-yuan-worth sports activities market in China. With Loopy Sports activities’ edges accrued through the years and alternatives afforded by the sports activities quiz enterprise in Hainan and adhering to our company mission of “Let Sports activities Create Happiness”, we’re decided to faucet this trillion-yuan sports activities trade, aspire to evolve into the most important sports activities leisure group in China and make our shareholders happy with and assured in themselves!”

About V1 Group

V1 Group is a number one sports activities lottery and leisure firm China. The Group, by Loopy Sports activities, operates: (i) Loopy Pink Insights APP, a paid sports activities lottery info platform, (ii) Loopy Sports activities APP, a match info, livestreaming and social interactive platform and China Soccer Lottery web site; (iii) cellular community interactive recreation purposes, and (iv) provision of gross sales companies of lottery tickets by nationwide retail channels in China.

As an web sports activities leisure group and lottery info platform in China, guided by sports activities marketisation, connectivity and digitalisation, we’re devoted to forge a complete sports activities leisure ecosystem to supply dependable sports activities services and products for the huge Chinese language sports activities fanatics.

SOURCE V1 Group Restricted

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Sponsor

Latest

Tennessee passes invoice requiring companies to put up indicators saying they permit trans individuals to make use of their loos

Tennessee turned the newest state to go a restrictive regulation concentrating on LGBTQ+ populations, advocates say, with HB1182 clearing the Senate final Thursday in...

VR Video games and Experiences Let Vacationers Pattern Future Des

20 Jan VR Video games and Experiences Let Vacationers Pattern Future Des Posted at 19:35h in Weblog by Victoria Brewood ...

Neil Nitin Mukesh and his household check optimistic for COVID-19; actor informs through Instagram

One of many well-liked Bollywood actors, Neil Nitin Mukesh, alongside together with his total household, have  examined optimistic for COVID-19. The actor knowledgeable this just...

How you can take the free WhatsApp Enterprise coaching from ASEM and the Ministry of Economic system? Right here we inform you easy methods...

The three organizations come collectively within the on-line coaching program "WhatsApp Friday". April 13, 2021 4 min learn This text was translated from our Spanish version utilizing AI...
Translate »