HONG KONG, June 15, 2021 /PRNewswire/ -- Crazy Sports Group Limited, ("Crazy Sports" or the "Company", together with its subsidiaries, the "Group"; stock code: 82; formerly known as V1 Group Limited) announces relevant registrations procedures for the change of name of the Company was completed, the Company formally renamed as "Crazy Sports Group Limited" with Chinese name "瘋狂體育集團有限公司". The stock short names of the Company for trading in the shares on the Stock Exchange of Hong Kong will be changed from "V1 GROUP" to "CRAZY SPORTS" in English and from "第一視頻" to "瘋狂體育" in Chinese with effect from 9:00 a.m. on 17 June 2021. The stock code of the Company on the Stock Exchange ''82'' remains unchanged. The website address of the Company will be changed from ''www.v1group.com'' to "www.ir.crazysports.com'' with effect from 17 June 2021 to reflect the change of company name.
The new company name reflects that building on Crazy Sports as its principal business, with its foothold on China's trillion-worth sports industry racetrack, Crazy Sports Group is China's leading digital sports entertainment community operator. It perseveres the "Sports + Quizzes + Lotteries + Games" business philosophy, garnering support from the sports quiz business qualification from Hainan with advanced blockchain technology backing, and integrating application of its core competences including vast resources of lottery players, massive big data, top global sports IPs, the Group is providing users with online sports information, paid sports knowledge, live-streaming interaction, sports quizzes, and offline sports lottery retail services. Through the comprehensive online and offline sports community ecosystem, it promotes fission growth of the user group and carries out operations under a business model featuring O+O user redirection and consumption, the Group is endeavoring to building a multi-channel sports entertainment platform for real-time participation by users in sports events.
Dr. ZHANG Lijun, Chairman of Crazy Sports Group, said: "As our new name Crazy Sports officially comes into effect, the Group kicks on the new sports entertainment racetrack. In December 2020, the restructuring brought about changes to the directors and management of the Group, fueling with young and professional talents with the core team comprising high-caliber executives previously worked with major investment banks, internet businesses, and engaging in the management and operation of sports entertainment industries; at the same time formulate the Group's development strategy focusing on China's trillion-yuan sports industry with a sustainable and growing business model. I strongly believe Crazy Sports will be able to capitalize on the supportive industry policies and aspire to become the largest digital sports entertainment group in China."
Mr. PENG Xitao, CEO of Crazy Sports Group, said: "Our entire team is very excited about the official change of company name to Crazy Sports. Capitalizing on the restarting of big years for sports events in 2021 and the subsequent years, we strive to accomplish rapid growth in revenue and profits and realize exponential leapfrogging expansion in market share and earnings. Leveraging our edges accumulated over the years and opportunities afforded by the sports quiz business in Hainan and adhering to our corporate mission of 'Let Sports Create Happiness', Crazy Sports is determined to tap this trillion-yuan sports industry, to embrace breakthroughs in sales and user base growth and achieve more lucrative returns for our shareholders."
About Crazy Sports Group Limited
Crazy Sports Group is China's leading digital sports entertainment community operator. With its foothold on China's trillion-worth sports industry racetrack, it perseveres the "Sports + Quizzes + Lotteries + Games" business philosophy,
garnering support from the sports quiz business qualification from Hainan with advanced blockchain technology backing, and integrating application of its core competences including vast resources of lottery players, massive big data, top global sports IPs, the Group is providing users with online sports information, paid sports knowledge, live-streaming interaction, sports quizzes, and offline sports lottery retail services. Through the comprehensive online and offline sports community ecosystem, it promotes fission growth of the user group and carries out operations under a business model featuring O+O user redirection and consumption, the Group is endeavoring to building a multi-channel sports entertainment platform for real-time participation by users in sports events.
