V1 Group Announces 2017 Interim Results

Future Plan Set in Motion to Enhance Long-Term Value
V1 Group Limited
2017-08-29 21:14 2717

HONG KONG, Aug. 29, 2017 /PRNewswire/ --  V1 Group Limited ("V1 Group" or the "Group"; Stock code: 82.HK) announced its interim results for the six months ended 30 June 2017. Turnover of the Group for the six months ended 30 June 2017 amounted to approximately RMB92.18 million, representing an increase of around 31.6% as compared with the corresponding period last year. Loss attributable to the owners of the Company for the period was approximately RMB120.7 million, representing a decrease of around 6.8% as compared with the corresponding period last year. 

In the first half of 2017, the Group faced with ever fiercer market competition and a complicated and ever-changing industry environment, we were still capable of packing light to take the field and pulled together as one team, so that each of its businesses grew at a steady pace. The Group's growth has become much healthier and the new revenue growth engines are revving up.

Steady advance of new media business, to enhance the influence on the whole network

In the first half of 2017, V1 New Media continued to promote its diversified development strategies and new content marketing to keep pace with the increasing number of mini-video users, emergence of the virtual reality ("VR") equipment ecosystem, significant expansion of the VR market and the gradual establishment of the profit model relying on content and services. The contents of mini-videos are evolving from funny and entertainment videos to those finance and commentaries related themes progressively, and its live broadcast contents are promoted and distributed in the whole network.

Moreover, CATV entered into strategic partnerships with the News Center of CCTV, Guangdong Television, Beijing Television etc., which placed CATV to become the key partner between Arab countries and mainstream media in China. In May 2017, with the approval from Ministry of Foreign Affairs of the PRC, CATV set up a permanent news agency in Beijing, namely, "CATV China News Center".

Taking the lead in realizing VR panorama live, constantly seeking growth opportunities

The Group's VR panoramic live broadcast platform - V1 VR is the pioneer in VR panoramic live broadcasts and paid VR live broadcasts. It has collaborated with a number of platforms including Baofeng Mojing and iQiyi VR to usher in the new era of VR panoramic live broadcasts 2.0 in order to provide users with high-quality and interesting contents. Users can also experience the best VR live entertainment shows of internet celebrities timely. It has also cooperated with HTC VIVE, one of the leading players in the industry, to create a new profit model based on VR advertisement plus VR live broadcasts.

In the first half of 2017, the Group's VR panoramic live broadcast platform developed rapidly, V1 VR has broadcasted the whole event of the 16th China Internet Conference 2017 in the manner of live video plus VR live, and promoted and distributed such live broadcast content in the whole network. Besides, at the beginning of 2017, V1 VR launched the VR live entertainment shows of internet celebrities, which had attracted almost a hundred internet celebrities joining the platform. V1 VR is dedicated to building it into a VR interaction and entertainment platform for the whole community with innovative mobile internet technologies including its proprietary VR live show task system, VR panoramic live broadcast, 180 degrees 3D interaction, voice recognition and e-gift rewards.

Pushing forward with brand building in the "Internet Plus" business, to expand market share

In the first half of 2017, the Group's "Internet Plus" business was booming as the domestic cities constantly increase the demand of travel convenience. By combining the advantages of "mobile internet + bike sharing + new energy automobile", Quick To addresses the difficulties in travel for the user's 30-50 km and last 3 km journey in the city. The current services have covered Beijing, Tianjin, Shijiazhuang, Nanjing, Guiyang, Haikou, Inner Mongolia, Dali (Yunnan), Danxia Mountain of Shaoguan, Qinhuangdao, Jilin and other cities and scenic areas. In the second half of 2017, based on the operating environment of the cities in China, Quick To will expand into four major areas, including "bike friendly city", "bike franchise", "new energy automobile city" and "scenic area expansion", etc., so as to extend the service area coverage of Quick To.

Vigorously developing "Comprehensive Health", building up smart medical ecosystem

As the largest platform to provide home nursing services in China in terms of both number of nurses and number of subscribers, Homeincare, a "Comprehensive Health" business, focuses on the development of vertical integration in home nursing and healthcare in 2017, striving to become a leading home healthcare service provider in China. As at 30 June 2017, Homeincare has certified over 32,000 registered nurses covering nearly 300 cities across the country. More than 70% of these nurse practitioners work at Third-level Grade-A hospitals in China. The application has been crowned as "Uber" in the Chinese medical industry.

Homeincare is specialising in providing home nursing, rehabilitation, maternal and infant care as well as health management services. It has received favourable support from various government departments including Beijing Municipal Commission of Health and Family Planning, Ministry of Civil Affairs, China National Committee on Aging and other relevant associations. Various seminars have been convened to discuss the mode of sustainable development and recommended services. Meanwhile, Homeincare has been elected as the vice president unit of Beijing Community Health Promotion Association, which is the first regional non-profit community group at the provincial level in China whose main task is to promote community health. With its innovative operating model, Homeincare has been further admitted by Beijing Medical Doctor Association as an enterprise board member. In addition, Homeincare has successfully obtained the ISO 9001:2015 Quality Management System Certification, which effectively demonstrates Homeincare's home nursing service standards have been recognized by an authoritative organization. This means Homeincare will implement stricter standards on home nursing services and provide customers with more reliable services, enhancing its competitive edge over its peers. Homeincare also commenced cooperation with AIG Insurance, the largest foreign-funded insurer in China, by maintaining medical liability insurance for its home nursing services. This made Homeincare become the first underwriting platform of medical liability insurance in China, and enabled its registered nurses and users to be covered by the medical liability insurance. Besides, Homeincare has entered into a brand promotion agreement with Focus Media, Popower and FM103.9 in order to effectively enhance its brand awareness across the country by leveraging the advantages of network media including informativeness, timeliness, interactivity and no geographical limitation on internet.

Dr. Zhang Lijun, the Chairman of the Board of V1 Group said: "Promoted by the domestic trend of "Nationwide Entrepreneurship and Innovation" in the first half of 2017, the Group took into account the characteristics of internet industry and trends of "Internet Plus" development, and has carried out the forward-looking layout for the Group's future businesses. At present, all business segments are in healthy conditions. Under our business structure, the new media business segment has been basically set up centering on V1 Quick-Comment and V1 VR Show; the Internet Finance segment is mainly made of V1 (China) Investment, V1 Factoring, China Prosperity Capital Mobile Internet Fund and the Bank of Asia; and the "Internet Plus" business segment is focused on Homeincare and Quick To. We believe that after a reasonable incubation and development period, the Group will undoubtedly generate some new profit growth drivers. Meanwhile, the Group is still being actively explored the merger and acquisition opportunities of some excellent enterprises which can have a synergistic effect with the Group's main business in order to achieve a rapid growth in both revenue and profit and create long-term value for our shareholders."

About V1 Group Limited

V1 Group was established in 2005, listed on the Main Board of Hong Kong Stock Exchange in 2006, became the first Chinese video media enterprise listed in Hong Kong. V1 Group Limited was named the "China's Top 100 Internet Companies" three years in a row from year 2014 to 2016. After eleven years of rapid development, V1 Group's main businesses have been fully covered the Internet and mobile terminals. In 2016, V1 Group successfully transformed from the new media industry group into a new economy in the internet industry, with extensive layout in new media, online games, internet healthcare, internet travel, internet education, internet finance and many other fields, which strive to build an internet life circle to solve the basic needs for users. V1 Group is now become an integrated new industry group in internet plus life field.

V1 Group IR website: 

For further information, please contact:
Hill + Knowlton Strategies 
Linda Pui / Elaine Qu  
Tel: (852) 2894 6378 / (852) 2894 6265 
Fax: (852) 2576 1990 

Source: V1 Group Limited
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