Focusing on the digital sports entertainment racetrack to unleash growth momentum
HONG KONG, Sept. 30, 2021 /PRNewswire/ — Crazy Sports Group Limited ("Crazy Sports" or the "Company", together with its subsidiaries, the "Group") is pleased to announce that Hang Seng Indexes Company Limited ("HSI") has accepted the Group’s application regarding its reclassification under the Hang Seng Industry Classification System ("HSICS"). The Company is now classified under the "Information Technology – Software & Services – Software" category. The reclassification takes effect today. The Group is focusing on the digital sports entertainment racetrack to unleash growth momentum.
Following the completion of the restructuring at the end of 2020, the Group has been endeavoring the best of its efforts developing the digital sports entertainment business. The Group turned profitable with profit of HK$62.0 million and net profit margin of 27.1% for the first half of 2021, validating the success of the Crazy Sports business model with the robust profitability. Crazy Sports is a leading digital sports entertainment community operator and a leading enterprise in the internet sports industry in China. The Group has been diving deep into the trillion-worth digital + sports entertainment market and has since established the ”Events + Quizzes, IP + Sports Games, Crazy Red Insights + Lottery Sales” trio-pillar growth engine.
Mr Peng Xitao, CEO of Crazy Sports, said: "According to China’s ’14th Five-Year Plan’, the value of the nation’s sports industry market will reach RMB5 trillion by 2025, and the market size is huge. ‘Building a Leading Sports Nation’ has become one of China’s four major national policies with strengthening policy support. The Group achieved a turnaround during the first half of 2021 and will continue the positive growth momentum in the second half of the year with its solid business development. We focus our efforts this year in R&D investments to add value to our intangible assets and enrich our core resources. With our industry leadership and strong brand equity, we have increased the market share of Crazy Sports platform in the digital sports entertainment market. The total number of platform users and active users have both recorded rapid growth, taking the Group’s competitiveness to the next level.
"As demand for sports and entertainment among sports fans in China continues to increase while the world is embracing the 2022 World Cup in Qatar, Crazy Sports will leverage the mega sports events and the new offline retail points-of-sale to engage more users and explore new sources of lottery fans to unleash potential of its various businesses, fueling growth momentum for its revenue."
About Crazy Sports Group Limited
Crazy Sports Group Limited is a leading digital sports entertainment community operator and internet sports industry leader in China, and it is listed on the Main Board of HKEX (Stock code: 82.HK). Laying our strategy on powering up China through sports, we dive deep into the trillions-worth digital + sports entertainment industry racetrack. Based on the unique massive sports user database, leveraging digital, artificial intelligence and blockchain technology to empower traditional sports events, we operate in three core business areas pivoted on "Events + Quizzes, IPs + Sports Games, Crazy Red Insights + Lottery Sales". Our mission is "Let Sports Create Happiness", we are dedicated to building a multi-channel entertainment platform allowing real-time participation in sports events.