Year End Financial Results

Intuitive Investments Group plc

16 December 2025

 

16 December 2025

Intuitive Investments Group plc

("IIG", the "Group" or the "Company")

Year End Financial Results

IIG plc announces its financial results for the year to 30 September 2025.

Driving Value: Focused Investment, Delivering Progress

2025 has been a year of focus for IIG, in which we have concentrated our resources on our most significant investment, Hui10 Inc. ("Hui10") to support its rapid strategic and operational progress. With strong traction and a clear path to value creation, IIG enters the next phase with good momentum and confidence in its investment strategy.

Hui10 is the technology company leading the digital transformation of the Chinese lottery and became a significant investment within the Group's portfolio in October 2023, and as at 30 September 2025, represented over 99% of the Group's entire portfolio. 

Hui10 - Delivering positive momentum 

●	Since the trading update Hui10 has continued to deliver significant growth across all its key performance metrics:

As at November	2025	2024
Connected Lucky World Lottery Shops	7,016	2,222
UGO UnionPay POS Terminals	697	323
Total Registered Users	861,091	243,163

Eleven months to November	2025	2024
Lottery Transaction Value through Lucky World	¥212,630,153	¥719,663
UGO Scratchcard Sales	¥8,918,969	¥5,204,900
Lucky World Merchandise Revenue	¥661,384	¥112,893

Note: RMB to GBP FX Conversion ¥9.3689 to £1

Infrastructure rollout in line with management expectations

●	Continued rollout of Lucky World connecting lottery shops by equipping them with a Lucky World UnionPay POS terminal, now in over 7,000 connected shops, and expected to increase to 9000 by the end of December;
	○	generating c. ¥60 million of lottery transactions each month, supported by the recent agreement with Yinsheng Payment to provide a facility to fully cover Hui10's expected growth in real-time settlement of Lucky World payments platform.
●	Launched the first stage of UGO Lotto's national rollout in ride-hailing taxis in Shanxi with over 690 point-of-sale terminals operating in a combination of ride-hailing cars and other retail in November 2025.
	○	The programme enables digitally integrated Sports Lottery scratchcard sales in taxi and ride-hailing cars.
●	Signed landmark agreement with the General Administration of Sports China to operate 31 TEAM CHINA Sports Lottery+ stores. Fit out has occurred in 5 provinces, Hebei, Henan and Shanxi and, most importantly, flagship stores in Beijing and Shanghai.
●	Entered strategic cooperation agreements with China Poly Group TEAM CHINA for the commercial rollout of officially licensed TEAM CHINA commemorative physical gold products and Sports Superstars collectibles, deepening Hui10's alignment with a key state-owned entity.
●	Expanded operations to four provinces across China, including Liaoning and Inner Mongolia, unlocking an estimated potential market of 175 million consumers, further growing the national footprint of the Hui10 platform.

Significant agreements with major brands and global suppliers

●	Diageo Shuijingfang, reinforcing the commercial strength of Hui10's Lottery HongBao platform
	○	Shuijingfang's flagship "Fang Ke You Li" WeChat Mini Program will incorporate Hui10's digital lottery incentives, including QR-linked red envelopes redeemable for Sports Lottery entries.
	○	Shuijingfang's products will be sold via Hui10's lottery commerce platform, enabling nationwide access through over 200,000 Sports Lottery shops.
●	Sichuan Tuopai Shede Group Co., Ltd,
	○	to provide Hui10's Sports Lottery HongBao digital QR codes for Tuopai Shede enabling instant product authentication and lottery engagement
	○	Tuopai Shede intend to launch the full range of their products across Hui10's Lucky World's national lottery retail network.
●	A strategic partnership with Sinopec Easy Joy and its mass-market retail operations, ensuring mass-market reach for Hui10's Lucky World brand:
	○	The rollout will reach Easy Joy's loyalty programme with an estimated 190 million registered members, forming one of the largest retail ecosystems in Asia.
	○	The initial product launch and digital activation are planned for 2026.

Progress toward Paperless Play

●	Completed all the necessary work with China Financial Certification Authority (CFCA) to provide paperless ticket security protocols in compliance with Ministry of Finance requirements.

Building on Momentum

●	Looking ahead to 2026 the pace of growth is forecast to increase with the business expecting to connect a further 60,000 Lucky World Lottery shops and 35,000 UGO UnionPay POS terminals by the end of the year.
●	Hui10 expects to continue to advance towards the next major milestone - obtaining regulatory approval for paperless lottery operations. This development has the potential to be truly transformative, unlocking a new phase of accelerated growth for the business.
●	To fund this growth and help secure the shift to Paperless, the Company anticipates further fundraising activity.

IIG Performance Highlights

	30 September 2025	30 September 2024	30 September 2023
Net Assets	£328.04 million	£311.37 million	£10.46 million
Investments*	£301.88 million	£306.32 million	£8.78 million
Cash	£1.22 million	£1.06 million	£1.74 million
NAV per share	150.3p	153.9p	120.4p
% Increase/(decrease) from previous period end	(2.33%)	(0.37%)	(7.83%)

*including loans to investment companies

●	Equity raises during the year totalling c. £21 million have been invested in Hui10 to accelerate the rollout of products and services. The Company is continuing to explore the options to move, in the future, from the Specialist Fund Segment of the London Stock Exchange to an Official Listing on the Main Market.
	○	On 12 December 2025, the Company entered into an investment agreement with Helikon Investments, a leading institutional investment firm specialising in global equity investments, to provide up to £30 million in equity funding to finance Hui10 Paperless Lottery Play roll-out.
●	IIG's legacy Life Sciences portfolio now represents less than 1% of total assets with the Company fully divesting of its quoted investment portfolio during the period.
	○	Immediately after year end, IIG also sold its entire holding in Touchless Innovations Limited to enable greater strategic focus on Hui10.
●	Giles Willits was appointed Chief Executive Officer of IIG plc, bringing extensive experience in corporate leadership and business transformation, with Robert Naylor leaving IIG plc, in March 2025.
●	Richard Kilsby was appointed Non-Executive Director in November 2024, bringing a wealth of experience across multiple listed businesses in the technology and financial services sectors, including the London Stock Exchange.

Sir Nigel Rudd, Chairman of IIG, commented: "IIG's performance in 2025 reflects the Group's disciplined focus and meaningful delivery. Hui10 has demonstrated exceptional operational progress, expanding its presence across four provinces, building strategic partnerships at national level, and strengthening its position as a leader in the transformation of China's lottery market. The scale of growth achieved, and the momentum going into the new financial year, underscores the depth of the opportunity in front of us.

The coming year will be important, with Hui10 moving closer to paperless lottery play, a development with transformative potential for both the company and IIG's shareholders. The Board remains confident in Hui10's direction, strategy and capability, and we are committed to supporting the next phase of growth as the business continues to build value at pace."

The full report and accounts can be viewed by clicking on the following link: IIG Plc Financial Report.

Enquiries:

Intuitive Investments Group plc Sir Nigel Rudd, Non-Executive Chairman Giles Willits, CEO	www.iigplc.com Via FTI Consulting
Zeus James Hornigold / Dominic King	[phone]
FTI Consulting Jamie Ricketts / Valerija Cymbal / Jemima Gurney	[phone] [e-mail]

About Intuitive Investments Group plc

IIG is an investment company seeking to provide investors with exposure to a portfolio concentrating on fast growing and / or high potential 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 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 interbank card settlement system and payment platform, UnionPay. Lucky World is an omnichannel commerce platform which provides China's existing 200,000 lottery only shops access to a wider fastmoving 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. 

 

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