Nationwide roll-out of Hui10’s platforms underway
30 April 2025
Intuitive Investments Group PLC
("IIG" or the "Company")
Nationwide roll-out of Hui10's platforms underway
Targeting 15 provinces with an audience of more than 500m by the end of 2025
Intuitive Investments Group plc (SFS: IIG) is pleased to announce that its largest investment, Hui10 Inc ('Hui10'), has launched the nationwide roll-out of its lottery and retail technology platforms across China following the successful completion of its pilot phase. Hui10 is the technology company leading the digital transformation of the Chinese lottery.
Sir Nigel Rudd, Chairman of Intuitive Investments Group PLC, commented:
"Hui10 has now validated its model, proven its technology, and achieved national-scale partnerships. We are excited that the nationwide roll-out will deliver commercial success and offer significant shareholder value upside."
China nationwide roll-out
Hui10 currently operates in three provinces in China and is targeting to be in 15 provinces by December 2025, unlocking increased access to lottery play to more than 500 million adults in China. This roll-out does not require any additional regulatory approval, and is ultimately targeting to operate across the entire network of 200,000 lottery shops and over 2 million Hui10 UnionPay POS terminals across China.
Lucky World HongBao expansion
The Lucky World HongBao platform offers lottery shopkeepers access to revenue and margin opportunities from lottery promotions and a broader offering of consumer goods. To date Hui10 has connected more than 2,600 lottery shops to its Lucky World HongBao platform and currently has more than 400,000 registered active users.
Lucky World is live, has gained traction and is scaling through Lottery HongBao. Hui10 intends to expand its Lucky World network to 12-15,000 connected lottery shops by the end of 2025, with a further targeted increase to over 75,000 shops by July 2026.
Hui10 continues to grow its commercial partnerships with leading product suppliers to broaden the range of consumer goods products it offers to lottery shopkeepers including contracts with China State Farms and China Mobile. Hui10 is targeting to open up to 20 Lucky World China State Farms Sports Lottery+ flagship stores by December 2025.
Hui10 recently signed a commercial partnership with Urbrew, one of China's fastest-growing beer groups and official sponsor of the 2024 Hangzhou Asian Games. Lucky World will deploy Lottery HongBao and UGO Lotto in up to 3,000 Urbrew-branded franchise bars and retail outlets. In parallel, Lucky World will distribute Urbrew's packaged products online and through Hui10's expanding lottery shop network, all with Lottery HongBao incentives and authentication. This partnership is a clear demonstration of Hui10's ability to help brands build trust and loyalty while driving both volume and visibility in China.
TEAM CHINA Sports Lottery+ contract
As outlined in our announcement on 10th January 2025, Hui10 has signed a contract with the General Administration of Sports of China to operate TEAM CHINA Sports Lottery+ stores. This offers the potential for revenue generation through the sale of TEAM CHINA branded merchandise and also delivers a faster route to expanding the Lucky World network throughout China. By December 2025 Hui10 is targeting to have opened at least 10 TEAM CHINA Sports Lottery+ stores.
UGO Lotto scratch card
UGO Scratch is a digitally integrated Sports Lottery solution developed by Hui10, in collaboration with China UnionPay and China National Communications Information Co., a wholly owned subsidiary of China's Ministry of Transport. It will allow passengers in taxis, trains, buses and ferries across China to purchase, play and redeem winning instant scratchcard tickets directly through Hui10's UnionPay POS terminals installed in vehicles.
Further to our announcement on 6 March 2025, in association with China's Ministry of Transport, Hui10 has launched the first stage of its national roll-out of UGO Lotto scratch card sales system in taxis in Shanxi with the aim to significantly expand the geographic reach of lottery play across China. By December 2025 the company aims to have more than 100,000 taxis operating UGO Scratch.
e'tickets lottery update
Hui10 continues to work with China Financial Certification Authority ('CFCA') to secure policy approval for the paperless lottery sales. Hui10 and CFCA has established the digital security protocols for e'tickets and in parallel with the Lucky Word and UGO expansion aim to submit the proposals in September 2025 seeking approval for policy change.
Investment update
Since IIG's investment in Hui10 in October 2023 the company has raised more than £10m to support the roll-out of Hui10 platform and expects to continue to raise funds going forward to deliver its accelerated roll-out targets.
Following the announcement on 27th December 2024, the Company confirms that it has successfully cancelled 3,250,254 shares. Following cancellation, the Company's issued share capital now consists of 204,967,752 Ordinary Shares. The total number of voting rights in the Company will be 204,967,752. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
|
Intuitive Investments Group plc Sir Nigel Rudd, Non-Executive Chairman Giles Willits, CEO
|
Via FTI Consulting |
|
Zeus Nick Cowles / Graeme Summers |
+44 (0)20 3829 5000 |
|
|
|
|
FTI Consulting Jamie Ricketts / Valerija Cymbal / Jemima Gurney |
+44 (0)20 3727 1000 IIG@fticonsulting.com |
About Intuitive Investments Group plc
IIG is an investment company focused 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 significant capital growth over the long term for shareholders.
About Hui10
Hui10 is a technology company involved in the digital transformation of the Chinese lottery. It's platform unlocks the market expansion of the Chinese lottery through increasing the number of people playing lottery from the current 10% participation level to target more than 30%. Hui10's platform is integrated into China's national card settlement system and payment platform, UnionPay. Lucky World is an ecommerce platform which provides China's existing 200,000 lottery only shops access to a wider fast-moving consumer goods product offering through its growing number of commercial partnerships with leading Chinese suppliers. Lucky World provides a solution for brands to tackle the global counterfeit crisis using its integrated Lottery HongBao digital solution with incentives, helping to build brand loyalty and trust.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 2 hours ago Frasers Group
- 2 hours ago Cavendish Financial
- 2 hours ago Diaceutics
- 2 hours ago AB Dynamics
- 15 hours ago Johnson Matthey