V1 Group Formal Entry Into Sanya To Seize New Opportunities of Hainan Free Trade Port Policy and To Capture New Development
One of China’s top 100 internet companies, V1 Group Limited (“V1 Group” or the “Company”, together with its subsidiaries, the “Group”; stock code: 00082.HK) today announced that Mr. Peng Xitao, Joint Chief Operations Officer of V1 Group Limited and Chief Executive Officer of Crazy Sports, has participated in the Hainan Free Trade Port (”Free Trade Port”) Key Projects Signing Ceremony in Haikou on 13 August 2020. Crazy Sports, a subsidiary of the Group, will kick-start a project integrating the information technology and sports industries in Sanya. The project is of great significance to the Group in the development of its internet sports-related business.
Hainan is China’s largest special economic zone, and the announcement of the Free Trade Port project indicated the development of the Free Trade Port has entered the full implementation phase. The Hainan Free Trade Zone has unique advantages in terms of policy support. The State Council of the PRC put forward in the “Overall Plan for the Construction of Hainan Free Trade Port”, a document issued on June 1, 2020, that with regard to the high-tech innovation industry, “focusing on platforms as vehicles to upgrade industrial efficiency, and to take IoT, artificial intelligence, blockchain, digital trade, etc. as key development sectors in the information technology industry”. Hainan Free Trade Zone also brought up the idea of “promoting the in-depth integration of tourism, sports and culture as well as medical industries” for the tourism industry.
The signing ceremony unveiled a total of 59 major projects, of which 12 are foreign funded and 47 are domestically funded, covering tourism, modern services, industries high-tech industries and livelihood and public services, with an estimated total investment size of RMB14.2 billion. Hainan Free Trade Port will continue to introduce a series of key development projects and unleash the potential of the city through the implementation of preferential policies and the investment opportunities brought by the free trade port.
Mr. Peng Xitao, Joint Chief Operations Officer of V1 Group Limited and Chief Executive Officer of Crazy Sports, said, “V1 Group is a well-known internet company with relevant technical capabilities in the internet, sports and media industries. As a leader of this Crazy Sports project in Sanya, I aspire to develop quality projects by leveraging the Group’s advantages in technology and resources.”
Dr. Zhang Lijun, Chairman of the Board of Directors of V1 Group Limited, said, “The Group proactively adheres to the direction of national development and formulates development plans in line with market trends. Hainan Free Trade Port brings new opportunities, by formal entry into Sanya, we will enjoy the advantages brought by the preferential policies. I believe that under the leadership of our professional operation and management teams, the Group’s businesses will be able to develop rapidly with the supportive policy. While bringing better development prospects to our shareholders and investors, we also hope to contribute to the construction of the Free Trade Port, and jointly seek new development opportunities.”
The Signing Ceremony of Hainan Free Trade Port Key Projects. The event was hosted by the People’s Government of Hainan Province, and undertaken by the Hainan Provincial Department of Commerce and the Haikou Municipal People’s Government. Attending government officials including Liu Cigui, the Secretary of the CPC Hainan Provincial Committee and the Chairman of the Standing Committee of the Hainan Provincial People’s Congress; Mao Chaofeng, Member of the Standing Committee of the CPC Hainan Provincial Committee and Vice Governor of Hainan Provincial Government; He Zhongyou, Member of the Standing Committee of the CPC Hainan Provincial Committee and the Secretary of the CPC Haikou Municipal Committee; and Tong Daochi, Member of the Standing Committee of the CPC Hainan Provincial Committee and the Secretary of the CPC Sanya Municipal Committee.
Source: V1 Group Limited