Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

V1 GROUP LIMITED

第 一 視 頻 集 團 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 82)

VOLUNTARY ANNOUNCEMENT

UPDATE ON SMART SPORTS LOTTERY RETAILS:

THE DEVELOPMENT OF ONLINE USER BUSINESS BY

FENGKUANG TIYU FOR SHANDONG SPORTS

LOTTERY MANAGEMENT CENTRE

This announcement is made by V1 Group Limited ("Company", together with its subsidiaries, the "Group") on a voluntary basis. The purpose of this announcement is to keep the shareholders of the Company ("Shareholders") and potential investors informed of the latest business development of the Group.

Reference is made to the Company's announcement dated 13 September 2019 (the "Announcement") in relation to the new strategy of smart sports lottery retails of the Company. Capitalized terms used in this announcement shall have the same meanings as defined in the Announcement.

The board ("Board") of directors ("Directors", each a "Director") of the Company

is pleased to announce that the Group has, through Beijing Crazy Sports Management Company Limited*(北京瘋狂體育產業管理有限公司)entered into a China Sports Lottery Consignment Contract*(代理銷售中國體育彩票合作協議)("Sports Lottery Consignment Contract") with Shandong Province Sports Lottery Management Centre*(山東省體育 彩票管理中心)("Shandong Sports Lottery Centre"). Pursuant to the Sports Lottery Consignment Contract, the Group is authorized to launch the Business in Shandong Province by installing Terminals in collaborated Smart Franchise Stores, including, among others, Jiajiayue(家家悅). The Business in Shandong Province will include the expansion of online user base and the marketing to online users of the Shandong Sports Lottery Centre, which are permitted in the Shandong Province by the PRC government, according to the standards prescribed by the Shandong Sports Lottery Centre.

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The Company will initially commence trial of the Business in seven Smart Franchise Stores situated in Weihai, Shandong Province, and it is expected that the necessary renovation work and the relevant installation of the Terminals in such seven Smart Franchise Stores will be completed in November 2019. The operation of the Business is expected to officially commence subsequently, and related online and offline marketing of the Business in Shandong Province will begin simultaneously at the same time.

According to market research obtained by the Company, Shandong is a province with sizeable

sports lottery sales of up to RMB25.2 billion in 2018. Based on the foregoing, and by having a large user base of Fengkuang Tiyu and Crazy Recommendation*(瘋狂紅單), the Company

considers that the commencement of the Business in Shandong Province will be in the interest of the Company and the Shareholders as a whole.

As at the date of this announcement, the Company has obtained approvals to operate the Business in 5 provinces and municipal cities in the PRC, namely Beijing, Tianjin, Shandong, Chongqing and Guangdong. The trials of the Business have commenced in over one hundred Smart Franchise Stores.

Further announcement(s) will be made by the Company with respect to the Business in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as and when appropriate.

By order of the Board

V1 Group Limited

ZHANG Lijun

Chairman

Hong Kong, 8 November 2019

As at the date of this announcement, the Directors are:

Executive Directors:

Dr. ZHANG Lijun (Chairman)

Ms. WANG Chun

Mr. JI Qiang

Independent non-executive Directors:

Dr. LOKE Yu (alias LOKE Hoi Lam)

Prof. GONG Zhankui

Mr. WANG Linan

  • For identification purposes only

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V1 Group Limited published this content on 08 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2019 14:39:02 UTC