V1 Group Limited has announced that the Group’s business reorganisation has been completed. Its new Board members had undergone a smooth transition in early January.
Since initiating its business restructuring, the Group has been accomplishing one major milestone development after another. At the beginning of 2021, V1 Group’s Crazy Sports unit secured approval from authorities to establish in Hainan a sports tournament platform and reward points system, through which quiz games on major sports events are conducted and winners will receive reward points to be redeemed into goods and services to stimulate tourism consumption in Hainan. Crazy Sports later secured official authorization from Fédération International de Footballeurs Professionels (FIFPro) to launch a soccer E-sports mobile game “Ace Soccer” featuring renowned international star soccer players from 54 countries and leagues, and names and portraits of professional players, attracting reservations from more than 1 million users. With the IP official authorization for China Super League secured earlier, Crazy Sports leveraged edges from the sports tournament platform in Hainan and launched a “Dream Super League” game under the “Fantasy” football game community. These are populating into a collection of excellent sports games in football, basketball, tennis, bowling, motor racing, etc., contributing to nurturing of Crazy Sports’ leadership in feature sports IPs, core fan base and sports channel interconnectivity and global sports game development support system.
By end-January, Crazy Sports reached strategic cooperation with Lakala (Beijing) E-Billing Technology & Service Co., Ltd. (E-Billing). In the next three years, E-Billing will become a cooperation partner of Crazy Sports’ sports lottery sales business, accelerates landing of Crazy Sports’ new lottery retail business on brick-and-mortar retail points of sales, but also provides more convenient and intelligent lottery purchase services for the large lottery user base in China. Boosting Crazy Sport’s reach to more than tens of thousands of retail outlets, installation of sports lottery terminals will gather pace in convenience stores in different provinces and cities to offer lottery players more convenient access to the services.
In early February, Crazy Sports participated in the signing of the “two districts” under Beijing Economic and Technological Development Zone and thereby becomes a key enterprise introduced to the science and culture integration project segment of the “two districts” (namely “Beijing Economic and Technological Development Zone National Service Industry Expansion and Opening Comprehensive Demonstration Zone” and “China (Beijing) Free Trade High-End Industrial Pilot Zone”). It is eligible for special financial support and green channel treatment for game version number registration from the Beijing Economic Development Zone’s technological innovation research, key equipment research and development, and high-end talent introduction. This accomplishment injects momentum into the further development of Crazy Sports’ businesses.
Crazy Sports has developed a sports community and lottery business ecosystem that comprises Crazy Red Insights APP and Crazy Sports APP online and that integrate streaming dataflows and data sources to constitute an online content entertainment platform spanning the three major areas of sports, games, and lottery, serving a base of more than 200 million users. For offline presence, on the foundation of traditional specialty retail outlets, Crazy Sports continues to expand its network of chain convenience stores bundling terminal installation in pursuit of asset-light operation. The goal is to reach more young lottery players and establish a closed-loop of online sports lottery and entertainment services.
The Group will continue to accelerate the establishment of its nationwide network of sports lottery retail outlets; strengthen its leading position in paid content; leverage its core platform edges to develop new online games; invest in technology and data capabilities; implement marketing strategies to increase the brand awareness of Crazy Sports; and cross-selling between online and offline sports community lottery e-commerce ecosystems to improve cash conversion. Combining with big data accumulation of the Group’s sports lottery entertainment community, Crazy Sports is set to secure a leading position in the trillion-yuan sports market in China, with robust profitability for 2021. It is set to become the most bullish stock in the Year of the Bull.
The renaming of the Group as Crazy Sports Group Limited is expected to be approved in a forthcoming shareholder meeting in May, setting a strong note for its businesses and profitability to escalate to the next level in the years of major international sports events in 2021 and 2022.