V1 : VOLUNTARY ANNOUNCEMENT OF NEW STRATEGY OF SMART SPORTS LOTTERY RETAILS

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V1 GROUP LIMITED

第 一 視 頻 集 團 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 82)

VOLUNTARY ANNOUNCEMENT OF

NEW STRATEGY OF SMART SPORTS LOTTERY RETAILS

This announcement is made by V1 Group Limited ("Company", together with its subsidiaries, the "Group") on a voluntary basis. The purpose of this announcement is to keep the shareholders of the Company ("Shareholders") and potential investors informed of the latest business development of the Group.

The board ("Board") of directors ("Directors", each a "Director") of the Company in pleased to announce that the Group has commenced commercial operation of the offline sports lottery retail business (the "Business") which was under trial operation until recently. The Business involves the collaboration with large convenience store chains ("Smart Franchise Stores"), such as 7-Eleven in Guangdong, Hi-24（好鄰居）in Beijing, Jiajiayue（家家悅）in Shandong, Ukja（優客家）in Chongqing, and Bianlifeng（便利蜂）all over the People's Republic of China ("PRC"), pursuant to collaboration agreements entered into between the Smart

Franchise Stores and Beijing Crazy Sports Management Company Limited*（北京瘋狂體 育產業管理有限公司）, the financing and operations of which are effectively controlled by Crazy New Game (Beijing) Technology Company Limited*（瘋狂新遊（北京）技術有限公

司）, an indirect wholly-owned subsidiary of the Company.

Under the Business, sports lottery terminals ("Terminals") will be installed in the Smart Franchise Stores at over 5,000 locations in the PRC to provide one-to-one offline lottery sale services and free sports event analysis services to users of Fengkuang Tiyu (a mobile internet product acquired by the Company completed on 27 November 2018 that provides sports information, event news, live interactive games and other services for sports users) and Crazy Recommendation*（瘋狂紅單, a professional paid lottery recommendation platform launched by Fengkuang Tiyu).

In recent weeks, the Company has commenced the trial Business cooperating with selected sports lottery retail outlets in various cities in China.

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Adhering to the concept of "Let sports create happiness" of Fengkuang Tiyu, the Group aims to break through the traditional physical store model and expand the user base of Fengkuang Tiyu and Crazy Recommendation by setting up the Terminals in line with current consumer's spending habits through the collaboration with the Smart Franchise Stores, which are some of the favorite stores of young consumers. The Terminals will provide lottery services for a wider range of sports users and will serve as a traffic entrance for lottery recommendations, forming a closed business loop.

The Group is principally engaged in tele-media business, including internet audio-visual new media, online trading platform, IP derivatives business, and other internet plus businesses in the PRC. The Group has been actively exploring business opportunities in order to remain competitive in the industry and bring a higher return to the Shareholders. Taking into account the trend and the continuing growth potential of the lottery retail industry in the PRC in recent years, the Directors are of the view that the commencement of the Business will be a good opportunity for the Group to boost its income stream as well as achieve a synergy effect with its existing businesses, which may ultimately enhance the financial performance of the Group. Accordingly, the Board is of the view that the commencement of the Business will be in the interest of the Company and the Shareholders as a whole.

Further announcement(s) will be made by the Company with respect to the Business in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as and when appropriate.

By order of the Board

V1 Group Limited

ZHANG Lijun

Chairman

Hong Kong, 13 September 2019

As at the date of this announcement, the Directors are:

Executive Directors:

Dr. ZHANG Lijun (Chairman)

Ms. WANG Chun

Mr. JI Qiang

Independent non-executive Directors:

Dr. LOKE Yu (alias LOKE Hoi Lam)

Prof. GONG Zhankui

Mr. WANG Linan

• For identification purposes only

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