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V1 Group Announces 2017 Annual Results

"Digital + New Culture and Entertainment" Business Is Main Growth Driver for Group's Income
2018-03-28 21:49 937

HONG KONG, March 28, 2018 /PRNewswire/ -- V1 Group Limited ("V1 Group" or the "Group"; Stock code: 82.HK) announced its annual results for the twelve months ended 31 December 2017 (the "Reporting Period"). During the Reporting Period, turnover of the Group amounted to approximately RMB511 million, representing an increase of around 231.3% compared with 2016. Loss for the Reporting Period was approximately RMB372 million, representing a decrease of around 62.1% compared with last year, which included the non-cash impairment loss of web games, games engines, ride-sharing and medical service businesses, and the cost incurred for the development of new internet plus businesses.

In 2017, V1 Group maintained its healthy development, and new income drove potential growth, primarily the new portfolio "Digital + New Culture and Entertainment", which turned into the Company's main business. The strategy of "Digital + New Culture and Entertainment" is based on advanced digital technology to deepen the three professional fields of new media, new culture, and new sports. It also focuses on the trillion-dollar cultural, sports and game markets to provide excellent cultural and entertainment services for users. By improving quality and efficiency, the Group proactively actuated precise investment, conducted win-win cooperation and explored potential resources to enhance returns. V1 Group seized the opportunities in the evolvement of the traditional industry and industry amalgamation, as well as built up its core competition barriers.

Upgraded Tele-Media Business to Proactively Diversify Revenue

V1 Portal

As short videos experience exponential growth, V1 Portal has adjusted and upgraded its strategy on short videos timely, extending the deployment in organized, verticalized and personalized production of short videos, while improving and upgrading its paid services.

V1 Portal has entered into cooperation agreements with individuals as well as small and medium-sized teams, leveraging their content production and assisting in their operation, promotion, mid to long-term planning and commercialization. Aside from that, V1 Portal also tapped into its own merits in short video production and extensive media relations network to produce quality IP contents in various areas such as culture, finance and popular social issues. Currently, V1 Portal has achieved preliminary results in content production and professional operation.

During the second half of 2017, V1 Portal placed its operational focus on Tower, a national investment service community mobile application and the first financial video platform in China. Integrating various contents such as financial information, investment consultation and escort transaction, Tower targets 400 million users of the Chinese middle class. It will also provide large amounts of paid financial contents to diversify product revenue sources.

In December 2017, V1 Portal has joined the "New Times Online Positive Energy Live". V1 Portal cooperated with other online live-broadcast platforms to jointly plan, create and explore the main theme contents and cultural products, jointly provide mainstream cultural live contents to netizens.

CATV

2017 witnessed the growing influence of CATV, an improving brand with greater commercialization. In May 2017, the Ministry of Foreign Affairs of the PRC granted CATV China News Center a license for China-based foreign news agency, which marks a new stage in the exchange of information, trade, commerce and cultural communication between China and the Arab countries. Under the Belt and Road initiative, China and Arab are engaged in increasingly in-depth communication in respect of trade and commerce, science and technology, academics, tourism, folk culture, publication and media, radio, film and television, food and beverage. As a window for Chinese and Arabs to learn about each other, CATV helps both peoples to forge great partnerships featuring mutual respect, extensive communication, in-depth collaboration, mutual benefit and common development.

Diversified "Internet Plus" Business Prudently Coordinates Business Layout

Liangzi Gang

Liangzi Gang is a digital economic exchange platform of V1 Group. The platform applies the blockchain technology to record every session of commodity transaction, forming scale effect and creating a "professional, honest, innovative and efficient" online trading platform.

The Liangzi Gang team is experienced in the internet, finance and professional supply chain management industries, with product design, risk control and enterprise management capabilities. The goal of Liangzi Gang is to establish cooperation with more than 150 countries around the world, including the G20 countries, the countries along the Belt and Road, and APEC countries based on "Digital + New Culture and Entertainment", focusing on providing competitive supply chain solutions, products and services to various enterprises, customers, value-added service providers, shops and their consumers, and thus building a borderless, shared and win-win business community. At present, Liangzi Gang has established partnerships with many state-owned telecommunications companies and communication equipment manufacturing companies.

Dr. Zhang Lijun, Chairman of the Board of V1 Group, said, "In 2017, the Group's management examined and judged the situation and according to the general trend of 'Nationwide Entrepreneurship and Innovation' in the Chinese internet industry, laid out a forward-looking business road map for the Group's future development.V1 Group focuses on the culture, sports and games market with new culture and entertainment as its core business, forming an infrastructure comprising 'one TV station, one website and three applications' and cloud platforms; the online trading platform which applies the blockchain technology centering on Liangzi Gang and the internet plus business is in line with the general trend of the Belt and Road initiative and 'Nationwide Entrepreneurship and Innovation' of China. We believe that V1 Group will make another miracle and build a brilliant future for development as all our business lines are foresighted and of huge market potential."

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 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, forming a strategic layout with media as the lead, financial investment as the driving force, and "digital + new culture and entertainment" as its core businesses.

V1 Group Limited IR website: http://ir.v1.cn

Source: V1 Group Limited
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