| 6 November 2025 |
| Intuitive Investments Group plc
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| ("IIG" or the "Company")
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| Year End Trading Update
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| Significant progress with the rollout of Hui10 platform in China
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IIG plc is pleased to provide a trading update for the year ended 30 September 2025 focused on its primary investment Hui10 Inc, the technology company leading the transformation of the Chinese lottery.
Hui10 Strategic and Operational Highlights
Hui10 has continued to make significant progress with positive momentum for the rollout of its technology platform across China, with growth across all its key performance metrics:
| As at September |
2025 |
2024 |
| Connected Lucky World Lottery Shops |
3,621 |
2,067 |
| UGO UnionPay POS Terminals |
633 |
323 |
| Total Registered Users |
787,873 |
239,999 |
| Nine months to September |
2025 |
2024 |
| Lottery Transaction Value through Lucky World |
¥93,324,896 |
¥554,392 |
| UGO Scratchcard Sales |
¥7,380,872 |
¥3,990,300 |
| Lucky World Merchandise Revenue |
¥418,466 |
¥80,136 |
Note - RMB to GBP fx conversion rate ¥9.29 to £1
In July 2025, Hui10 commenced the deployment of its infrastructure across China, building on the successful platform development and expansion of key partnerships during the previous 12 months. This progress demonstrates Hui10's strong execution and growing scale within China's digital lottery and payments market, albeit slower than management's initial plans given delays in fundraising.
Notable initiatives included:
| • |
Expanding Hui10's operations to four provinces across China, including Liaoning and Inner Mongolia, unlocking an estimated potential market of c.175 million consumers, further growing the national footprint of the Hui10 platform. |
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Completing all the necessary work with China Financial Certification Authority (CFCA) to provide paperless ticket security protocols in compliance with Ministry of Finance requirements. |
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Signing a landmark collaboration with the General Administration of Sports China to open 31 TEAM CHINA Sports Lottery+ stores nationwide, with 5 stores already opened in Hebei, Henan, and Shanxi and, most importantly, flagship stores in Beijing and Shanghai. |
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Forming strategic partnerships with major corporations including Diageo, China Poly Group, and Sichuan Tuopai Shede Group Co., Ltd, as well as a high-profile collaboration with Sinopec Easy Joy, one of China's largest retail networks. |
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Launching the first phase of UGO Lotto, the digitally integrated Sports Lottery scratchcard solution, with over 600 point-of-sale terminals now operating in ride-hailing vehicles and retail outlets in Shanxi Province. |
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Continuing the rollout of the Lucky World platform, now connecting more than 3,600 lottery shops via UnionPay POS terminals, generating c. ¥35 million of lottery transactions each month, with a monthly average spend of ¥282 per active customer. |
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Acquired c.250,000 registered users since the Lucky World launch in July, equating to c.2100 new users per day. |
IIG Update
During the period since March 2025 there has been good progress at the IIG Group level:
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£13.3 million of equity was issued to support the growth of Hui10. At the end of September 2025 Hui10 had cash reserves in excess of ¥91m (£9.8m). |
| • |
Continuing to explore the options to move, in the future, from the Specialist Fund Segment of the London Stock Exchange to an Official Listing on the Main Market. |
| • |
IIG's Life Sciences portfolio now represents less than 1% of total assets with the Company fully divesting of its quoted investment portfolio during the period. Immediately after year end, IIG also sold its entire holding in Touchless Innovations Limited to enable greater strategic focus on Hui10. |
Current trading and outlook
Hui10 has delivered further growth in its performance metrics since September and continues to anticipate further progress in the period to December 2025 with connected Lucky World shops increasing to c.9,000 and UGO UnionPay POS Terminals to more than 1,000, together delivering increased registered users and driving further growth in Lottery sales and Lucky World merchandise revenues.
In 2026, the pace of growth is forecast to increase with the business expecting to connect a further 60,000 Lucky World Lottery shops and 35,000 UGO UnionPay POS terminals by the end of the year. This continued scaling positions Hui10 strategically to maximise the opportunity that the policy change to enable Paperless Lottery play will unlock. To fund this growth and help secure the shift to Paperless, targeting early 2026, the Company anticipates further fundraising activity. The ongoing rollout does not require regulatory policy change and is ultimately targeting to operate across the entire network of 200,000 lottery shops and over 3 million UGO UnionPay POS terminals across China.
Giles Willits, Chief Executive Officer of IIG, commented: "Hui10 is our primary investment and growth engine, representing the most significant value opportunity within our portfolio. Hui10 has made outstanding operational progress and is well positioned to capitalise on its growing infrastructure footprint and strategic partnerships across China."
Enquiries:
| Intuitive Investments Group plc Sir Nigel Rudd, Non-Executive Chairman Giles Willits, CEO
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Via FTI Consulting |
| Zeus James Hornigold / Dominic King |
+44 (0)20 3829 5000 |
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| FTI Consulting Jamie Ricketts / Valerija Cymbal / Jemima Gurney |
+44 (0)20 3727 1000 |
About Intuitive Investments Group plc
IIG is an investment company seeking to provide investors with exposure to a portfolio concentrating on fast growing and / or high potential businesses operating predominantly in the UK, continental Europe, the US and APAC, utilising the Board's experience to seek to generate capital growth over the long term for shareholders.
About Hui10
Hui10 is a technology company involved in the digital transformation of the Chinese lottery. It's platform unlocks the market expansion of the Chinese lottery through increasing the number of people playing lottery from the current 10% participation level to target more than 30%. Hui10's platform is integrated into China's national interbank card settlement system and payment platform, UnionPay. Lucky World is an omnichannel commerce platform which provides China's existing 200,000 lottery only shops access to a wider fastmoving consumer goods product offering through its growing number of commercial partnerships with leading Chinese suppliers. Lucky World provides a solution for brands to tackle the global counterfeit crisis using its integrated Lottery HongBao digital solution with incentives, helping to build brand loyalty and trust.