AGTech Holdings Ltd
AGTech Announces Alipay Lottery Channel Agreement
AGTech Announces Alipay Lottery Channel Agreement (24 March 2017, Hong Kong) – AGTech Holdings Limited (“AGTech”) (SEHK code: 8279), an integrated lottery technology and services company in the China lottery market and the exclusive platform of Alibaba Group and Ant Financial Group for lottery has entered into an agreement with Alipay to operate the Alipay Lottery Channel on a 50:50 revenue sharing basis (after the deduction of taxes or expenses payable to third party service providers or partners). AGTech expects to generate revenues in the following ways: 1) AGTech shall distribute and sell regulated lottery products on the Alipay Lottery Channel (in the event that and so long as it is allowed under applicable laws and regulations in the PRC); 2) By providing online activities and services which are not subject to the applicable PRC lottery laws and regulations, including information subscription and other content and games The operation of the Alipay Lottery Channel is expected to strengthen AGTech’s online presence and its online customer-base in preparation for the potential re-opening of the online lottery market. This is in-line with AGTech’s long-term strategy and vision to tap into the online lottery market and to distribute lottery and other games. – End –
Ant Financial Services Group is focused on serving small and micro enterprises as well as individuals. With the mission to bring equal access to financial services to the world, Ant Financial is dedicated to building a global open ecosystem of technology-driven financial services while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit and MYbank. AGTech’s vision and strategy is to be a fully integrated service provider for the China lottery industry. Its principal business activities comprise: (i) Games and Systems: the development and supply of lottery and other games, underlying software and advanced supporting systems; AGTech is committed to applying international management concepts and advanced technologies to the China lottery industry along the entire value chain, covering lottery systems, lottery hardware, lottery games, internet and mobile smart phone systems and distribution, wireless network and streaming media, thereby providing China’s lottery authorities and millions of lottery players in China with professional and integrated lottery services. AGTech also takes an active part in the promotion of offline and online gaming events, with a view to facilitating the exchange and interaction between offline and online users, and to ensuring a steady revenue growth for AGTech through the provision of an enriched range of entertainment products. AGTech is an associate member of each of the World Lottery Association (WLA) and the Asia Pacific Lottery Association (APLA) and is an official organiser and operator of the Chinese card games Guan Dan and Two-on-One poker in China. For investor or media enquiries, please contact: Document: http://n.eqs.com/c/fncls.ssp?u=XUAUJIHYHN Document title: AGTech Announces Alipay Lottery Channel Agreement
24/03/2017 Dissemination of a Financial Press Release, transmitted by EQS Group. |