RNS Number : 9722G
DJI Holdings PLC
10 March 2015
 

10 March 2015

 

DJI Holdings plc

 

Trading update

In response to the Notice on "Issues Related to Self-Inspection and Self-Remedy of Unauthorized Online Lottery Sales" promulgated jointly by the Ministry of Finance, Ministry of Civil Affairs and the General Administration of Sports of the People's Republic of China, a number of Provincial Lottery Centres have temporarily suspended accepting online purchase orders for lottery products from 1 March 2015 while they undergo their respective self-inspection processes. 

During this short suspension, lottery sales across the industry in China will be materially reduced. However, DJI Holdings plc (AIM:DJI, "the Company", "DJI") believes that online sales will resume in the near future and, as such, this suspension will not have a material impact on its full year results for 2015.  DJI is continuing to sell welfare and sports lottery tickets through mobile channels and land-based outlets and will resume online sales immediately once the suspension is lifted.

The Company views the temporary suspension as an important step in controlling unauthorised online lottery sales to ensure healthy development of the online lottery market in China. DJI believes such measures will have long-term beneficial effects on the industry. The Company continues to engage actively with all relevant authorities regarding this situation and will provide a further update when additional information is available.

 

For further information please contact:

 

DJI Holdings plc 

+44 (0) 1565 872990

Darren Mercer, Group Chief Executive

Rodney Davis, Chief Financial Officer




IHA Consulting

+44 (0) 20 3393 1185

Stephen Benzikie




Canaccord Genuity Limited (Nominated Advisor)

+44 (0) 20 7523 8000 

Simon Bridges/ Cameron Duncan






 

 

 

Note to editors

 

DJI's strategy is to capitalise on the rapidly expanding Chinese lottery market and the opportunity to deliver lottery ticket fulfilment sales to its substantial client base of large Chinese corporations (B2B) and individual consumers via the Group's owned and operated websites (B2C), within the online and mobile environment.

 

Through the Group's long-standing relationships with the Chinese regulators, portfolio of lottery contracts and reliable technology platform, the Group is well-positioned to capture the market opportunity.

 

The principal activities of the Group are the development, promotion and distribution of authorised lottery products in China. DJI's subsidiaries are licensed and/or contractually authorised to distribute and promote Sports and Welfare lottery products online, via mobile and through physical retail outlets across China.

 

The Group has a differentiated approach to the Chinese lottery market in that DJI operates throughout the promotion and distribution value chain. The Group offers:

·      front-end lottery ticket sales via websites owned and operated by the Group, third party websites, mobile applications and physical retail outlets; and

·      back-office lottery ticket fulfilment services to large online and offline

 

 

 


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