For Immediate Release

V1 Group's Crazy Sports Announces Cooperation with All Football
To Forge DianPing of the Lottery Industry

(Hong Kong, 16 October 2019) - One of China's top 100 internet companies with a tri-core "Video+" business focus, V1 Group Limited ("V1 Group" or the "Company", together with its subsidiaries, the "Group"; stock code: 00082.HK) today announced the cooperation between its wholly-owned subsidiary, Beijing Crazy Sports Management Company Limited ("Crazy Sports"), and All Football ("懂球帝", pinyin DongQiuDi), the largest soccer community media platform in China. The companies will jointly build a database of sports lottery stores to form a platform similar to DianPing ("大眾點評") for the lottery industry, giving lottery players a convenient source for regional lottery stores information.

The cooperation is built upon the rich industry resources accumulated by V1 Group over its years of cultivation in the sports lottery market and its newly developed network of intelligent sports lottery franchise stores. Coupled with the leading positions of the Group and All Football in their respective industries, the synergies generated by the cooperation creates an enormous potential boost for revenue, resulting in a win-win for both companies.

Since the start of the cooperation, the "Lottery Store Map" function has been added to the All Football App, which uses location-based technology to provide nearby sports lottery stores information to users. The map currently contains information on more than 100 sports lottery stores. In the future, information of all of the intelligent sports lottery franchise stores will also be incorporated into the database.

In addition to location-based technology, users can also manually select different cities in the App to find a list of local sports lottery stores partners. Entering each store's individual page, users will be able to see its geographical location, a short introduction, store contact details as well as other related information. On the list, stores marked with a red "V" are Crazy Sports verified intelligent lottery franchise stores, which will be able to provide 1-to-1 lottery purchasing services to users. Users can also choose the type of lottery game they want to play, and the App will provide the relevant information of stores that sells tickets of the specific type. The "Lottery Store Map" function is a simple and convenient way to provide lottery players with the information that they need.

This new location-based service perfectly demonstrates the successful cooperation between the online information community and offline service community of V1 Group and All Football. It is also an integral part of Crazy Sport's development strategy to expand its sports lottery new retail business. Crazy Sports has already started to set up the offline intelligent sports lottery store network. As a core component of the Crazy Sport's lottery new retail development strategy, the initiative can direct the online user base to offline physical lottery stores, which will not only support the growth of the franchise stores' customer base, but also the rapid development of the Company's business partners. The Company continues to actively provide new sports lottery retail solutions for lottery consumers, potential lottery consumers, sports enthusiasts and the industry.

Dr. ZHANG Lijun, Chairman and Executive Director of V1 Group Limited, said, "One of the Group's three cores is the video sports community and Crazy Sports has always been its backbone. This cooperation is compatible with our lottery new retail strategy, and we are looking forward to the fruitful results of this cooperation."

In September 2019, the Company announced that it has commenced commercial operation of its offline sports lottery retail business. It had already started to set up intelligent lottery stores and develop an intelligent sports lottery franchise network with large convenience store chains to develop its comprehensive new sports lottery retail business. The announcement led the Company's share price to surge 74.5% on the following day, making it the best performing stock on the Hong Kong Stock Exchange that day.

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About V1 Group Limited
Founded in 2005, V1 Group Limited became a listed company on the Main Board of the Hong Kong Stock Exchange in 2006, and is the first China online video company to be listed in Hong Kong. The Group has a "Video+" business focus. Supported by 5G technology, it aims to build an ecosystem around news video community, sports video community and video new retail. In 2016, V1 Group successfully transformed from a new media enterprise into an internet-based new economy entity. Leveraging on its diverse business covering the media, connected living, internet financing, advanced internet technology as well as other sectors, the Group has become one of the top 100 internet companies in China. the Company made a full acquisition of Fengkuang Tiyu ("Crazy Sport") in 2018 to accelerate the construction of its "Video+" sports community business model, creating a strong overall revenue growth momentum for the Group.

For more information, please visit ir.v1group.com.hk.