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AGTech Enters Strategic Cooperation with Jiangsu Province Sports Lottery Administration Center

2018-06-20 21:07

HONG KONG, June 20, 2018 /PRNewswire/ -- AGTech Holdings Limited ("AGTech" or the "Company", HKEX stock code: 08279) is pleased to announce that the Company has entered into a strategic cooperation framework agreement with Jiangsu Province Sports Lottery Administration Center. The agreement signals the start of cooperation on a wide range of lottery related initiatives covering business innovation, channel expansion, smart hardware terminal, technology and data services, marketing and promotion, etc. We expect the cooperation will help strengthen the foundation and development of Jiangsu sports lottery, and increase brand awareness and lottery sales volume. As the exclusive lottery platform of Alibaba Group and Ant Financial Group, AGTech will leverage their expansive offline retail network and channels, as well as its deep lottery industry expertise, to assist Jiangsu Province Sports Lottery Administration Center in advancing China's lottery industry and contributing to the healthy development of sports nationwide and public welfare.

Under the cooperation, Jiangsu Province Sports Lottery Administration Center and AGTech will utilize resources from both parties to actively promote the innovation of the sports lottery and accelerate the marketing and promotion as well as the R&D of the lottery games.

In addition, the two parties will expand the offline retail network of the sports lottery and carry out the lottery business cooperation by leveraging various offline retail channels of Alibaba Group and Ant Financial Group, such as Rural Taobao, Ling Shou Tong, etc. AGTech will also bring its vast channel resources, as well as data and technology support to the collaboration in the areas of digitizing stores sales efforts, upgrading of conventional lottery stores, as well as smart lottery pilot stores. The cooperation between the two parties on technology enhancement will include but not limited to technology and data service, smart hardware terminal, etc.

John Sun, Chairman and Chief Executive Officer of AGTech, said, "We are pleased to have the opportunity to cooperate with Jiangsu Sports Lottery Administration Center in such a comprehensive manner, ultimately improving and modernizing the entire lottery experience for the benefit of the customer. In 2017, the sales of Jiangsu province sports lottery exceeded RMB20 billion for the first time, making it the top seller in China. Given the considerable scale of lottery sales in Jiangsu Province, Alibaba and Ant Financial's expansive offline retail network and channels as well as our expertise and experiences in the lottery channel business and technology and data services, we believe this strong combination will further improve the consumption pattern and experience of sports lottery products as a whole. It will also advance the lottery industry and contribute to the healthy development of national sports and public welfare."

About AGTech Holdings Limited

AGTech was incorporated in Bermuda and its Shares are listed on GEM (Stock Code: 8279). AGTech is an integrated technology and services company engaged in the lottery and mobile games and entertainment market with a focus on China and selected international markets. A member of the Alibaba Group with around 400 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Financial Group.

AGTech's businesses are broadly divided into two categories:

  • Lottery (including games and systems, hardware and distribution); and
  • Games and Entertainment.

AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), an official organiser and operator of the competition card games Guan Dan and Two-on-One poker in China, and an official partner of the International Mind Sports Association (IMSA).

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Source: AGTech Holdings Limited

Related stocks: HongKong:8279

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