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Intuitive Investments Group plc announced its financial results for the year to 30 September 2024, reporting Net Assets of £311.37 million and a Net Asset Value per share of £1.540. The company also made a strategic investment in Hui10 Inc., which saw the rollout of 2,235 Lucky World Shops, 243,560 registered users, and the opening of two flagship stores. Additionally, Sir Nigel Rudd assumed the role of Chairman, Giles Willits joined as Chief Investment Officer, and Richard Kilsby was appointed as Non-Executive Director.
| Date | 24 Dec 2024 |
| Time | 07:00:04 |
| Category | Results |
| ID | 1980R |
24 December 2024
Intuitive Investments Group plc
Financial Results
Intuitive Investments Group plc (SFS: IIG) ("IIG" or the "Company"), the closed-end investment company focussed on fast growing and high potential opportunities in the technology, life sciences and healthcare sectors, announces its financial results for the year to 30 September 2024. The full report and accounts can be viewed by clicking on the following link: https://iigplc.com/financial-reports/
Key Developments
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Strategic Investment in Hui10 Inc. |
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· Investment in Hui10, a company integral to China's digital lottery transformation. |
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· Established growth trajectory with innovative solutions like the Points Exchange for Lottery Tickets (PELT) platform, Lucky World HongBao (Red Envelope) platform and partnerships with UnionPay, Alibaba, and Qunar. |
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· Key expansions include the rollout with 2,235 Lucky World Shops connected, 243,560 registered users and the opening of two flagship stores. |
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· Recorded at fair value, with cost considered appropriate during the first year of the investment. |
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Strengthened Leadership Team |
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· Sir Nigel Rudd assumed the role of Chairman. |
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· Giles Willits joined as Chief Investment Officer and Richard Kilsby was appointed as Non-Executive Director. |
Financial highlights
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30 September 2024 |
30 September 2023 |
30 September 2022 |
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Net Assets (£) |
311.37 million |
10.46 million |
12.93 million |
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Investments (£) |
306.32 million |
8.78 million |
11.16 million |
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Cash (£) |
1.06 million |
1.74 million |
1.55 million |
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Net Asset Value ("NAV") per share (£) |
1.540 |
1.204 |
1.795 |
Sir Nigel Rudd, Chairman, commented:
"The past year has been transformative for Intuitive Investments Group. Our strategic investment in Hui10 is a groundbreaking opportunity with the potential to deliver long-term value for our shareholders. With a strengthened leadership team I am confident that the foundations we have laid will drive sustained growth in the years to come."
Enquiries:
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Intuitive Investments Group plc Sir Nigel Rudd, Non-Executive Chairman Robert Naylor, CEO Giles Willits, CIO
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Via FTI Consulting |
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Zeus Nick Cowles / Graeme Summers / Dominic King |
+44 (0)20 3829 5000 |
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FTI Consulting Jamie Ricketts / Valerija Cymbal / Jemima Gurney |
+44 (0)20 3727 1000 IIG@fticonsulting.com |
About Intuitive Investments Group plc
IIG is an investment company seeking to provide investors with exposure to a portfolio concentrating on fast growing, high potential Technology and Life Sciences 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 with interests in two operating businesses, Huishi Dehua and Huishi Chunyuan ('Lucky World'), involved in the digital transformation of the Chinese lottery. Huishi Dehua enables the market expansion of the Chinese lottery through its proprietary technology platform. Huishi Dehua is integrated into China's national card settlement system and payment platform, UnionPay. Hui10 holds a 33% share in Huishi Dehua. Lucky World is an ecommerce platform which provides China's existing lottery shops access to a wider fast-moving consumer goods product offering. Hui10 owns 60% of Lucky World.