Abridge Estimated V1 Group's NAV at Over HK$3 Billion
Bright Prospects Are Expected as Sports Events Resumes
HONG KONG, June 16, 2020 /PRNewswire/ -- V1 Group Limited ("V1 Group" or the "Company", together with its subsidiaries, the "Group"; stock code: 00082.HK) received an initiate coverage report from Abridge Enterprises Company Limited ("Abridge"), a professional investment advisory and asset management company, earlier. Abridge forecasted V1 Group's earnings to rebound to HK$203 million by 2022, and valued its net asset value at HK$3,113 million (or HK$0.726/share), with Beijing Crazy Sports Management Company Limited ("Crazy Sports") value at HK$2,550 million and readily gaining transparency.
As large-scale world-class sports events resume and kick-off, management team of the Group made reference to the emotional attachments of the 2018 World Cup on the sports community and general public. They believe that with the Group's rich championships and IP resources, mature analytical capabilities, vast users, and its comprehensive online and offline sports community and lottery e-commerce ecosystem (including the online lottery recommendation platform "Crazy Red Insights", the sports lottery new retail business, the leisure sports mobile games, and the sports and live-streaming community business) could all ride on this wave to realise another round of explosive growth.
Abridge gave V1 Group a "Buy" rating with price target of HK$0.29. V1 Group closed at HK$0.226 yesterday (15 June).
About V1 Group Limited
V1 Group Limited was founded on its internet video business in 2005 and became listed on the Hong Kong Stock Exchange in 2006. As one of China's top 100 internet companies, the Group is principally engaged in internet businesses with a focus on China's sports industry. It has created and built a leading comprehensive online and offline sports community and lottery e-commerce ecosystem in China based on lottery players. The Group's business scope covers the sports lottery online information and offline new retail business, internet audio-visual new media, sports games and live-streaming platform, online trading platform and other internet-related investment in the PRC and a satellite TV station in Dubai, the UAE. The Group adheres to its country, market and shareholder-oriented principle. With strong technological capabilities, the Group will maintain a steady and healthy growth momentum and continue to mine the industry. It aims to promote the widespread and sustainable development of the internet and sports industry, and interpret the world with a digital and innovative mindset, such that we can all live a more prolific, better and happier life.
For more information, please visit www.v1group.com.
The analyst(s) who is(are) primarily responsible for this report, including any analyst(s) whose name(s) appear(s) as author of an individual section or sections of the report and any analyst(s) named as the covering analyst(s) of a subsidiary company in a sum-of-the-parts valuation certifies(y) that the opinion(s) on the subject security(ies) or issuer(s), any views or forecasts expressed in the section(s) of which such individual(s) is(are) named as author(s), and any other views or forecasts expressed herein, including any views expressed on the back page of the research report, accurately reflect their personal view(s) and that no part of their compensation was, is or will be directly or indirectly related to the specific recommendation(s) or views contained in this research report: Chiu Man Wai
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