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Hong Kong, Apr 28, 2009 - (ACN Newswire) - VODone Limited ("VODone" or the "Group", Stock code: 0082) is pleased to announce the introduction of mobile lottery service in China. Authorized by Heilongjiang Welfare Lottery Center, VODone has become one of the first authorized service providers of mobile lottery betting service for mobile end users in China and due to the cooperation with Heilongjiang Welfare Lottery Center and Chinasatcom, VODone is currently the only company in China to provide mobile lottery services. A service agreement with a term of 96-months of cooperation has been signed by both parties under which the Group will be entitled to a certain percentage of commission income generated from each transaction. Meanwhile, the Group has opened the "cai.vodone.com" portal named "Lottery Lifestyle" broadcasting lottery related news and information exclusively supplied by the Ministry of Civil Affairs of the People's Republic of China and co-managed by China Association of Social Workers and China Philanthropy Times. VODone and China Philanthropy Times will together launch the "Expert Lottery Comments" channel, providing exclusive lottery news.
On 22nd April 2009, The State Council of the People's Republic of China released a consultation paper for the Law Governing Lottery Business. Deemed as core supporting business of China's welfare service, lottery has already been developed as a major financial and tax income in contributing to the well being of the community. The promotion of the Law Governing Lottery Business generated significant impact on the lottery industry and further stimulated players' interest against the backdrop of a financial crisis such as the waiver of upper limit of issuance and widening of betting channels. In China, the number of frequent players of lottery has reached over 100million which contributed over RMB100billion of betting turnover every year and in which betting turnover of welfare lottery amounted for approximately RMB60billion per annum. It witnessed the tremendous market potential of China's lottery business.
Mobile lottery has the advantage of surpassing other traditional purchasing methods by which players can make their purchasing decision whenever and wherever. Players simply need to register, log-in and download the lottery software from "cai.vodone.com" in order to study lottery information, place their bets, check their account balance, self-pick the lottery numbers or quick-pick the numbers through their handsets.
In addition, the system developed by Heilongjiang Welfare Lottery Center guarantees immediacy and safety of mobile lottery. The system is developed to enable the safety in achieving paperless lottery services, therefore, there is a special process of bundling the mobile number and identity card number as the certification information of user registration. There is a unique safety code generated for each lottery ticket by the Welfare Lottery Center which is incomparable in nature. Players can even collect their dividend of no more than RMB10,000 through their virtual account whereas dividend exceeding that amount would have to be collected at the Welfare Lottery Center.
Besides mobile lottery service and the "Lottery Lifestyle" channel, leveraging its edges of live internet broadcast, the Group is going to launch the "Constant Lottery" live webcast. VODone will announce the drawn numbers and results every 10 minutes, and provide a fast, frequent, stimulating and brand new mobile lottery experience for internet users.
Dr. Zhang Lijun, Chairman of VODone, said, "Launch of Mobile Lottery Service and establishment of the online "Lottery Lifestyle" channel has enhanced the Group's business structure and opened marketing income sources. This not only marks VODone's synergy generated by its website platform, broadcasting union system and community in the field of new media, but also an innovative application in terms of both creativity and income. Through the establishment of the "Lottery Lifestyle" channel, our customers can enhance their winning opportunities as well as professional knowledge, which also encourages public participation in charity. VODone will further improve the operation of mobile lottery service in order to further contribute to the social welfare of China. One of the reasons of VODone's purchase of the social networking website - DOMOUSE is to prepare for its development into this sector of business as well as strategically combining mobile lottery, virtual transactions and DOMOUSE. This will bring about greater potential and opportunities to VODone.
Heilongjiang Welfare Lottery Center is the first batch of agencies that received the green light from the Ministry of Finance and the Ministry of Civil Affairs of the People's Republic of China to introduce mobile lottery service. Heilongjiang is ranked top 10 amongst national Welfare Lottery sales, and has advanced into mobile lottery service technology.
Chairman Zhang said that the number of mobile users has reached 600 million in China at present. Once the software of users has been downloaded, mobile users would become the long-term and stable supporters for VODone Limited and welfare lottery. The launching of 3G services will largely enhance the speed of internet access and also due to low internet costs, the demand for mobile lottery services can be completely fulfilled. We deeply believe that mobile lottery will be the main focus in future 3G services.
About VODone Limited
VODone ( www.vodone.com ) is currently the only Internet video broadcasting company listed in Hong Kong. The affiliated company of VODone - VODone Telemedia is a State-owned Enterprise which owns the fullest set of qualifications and licenses in China's Internet broadcasting industry. It has also obtained the Information Network Communicated Audio-Video Program Licence, Internet News Permit, Value added Telecom Service Operation License, Internet Publication Permit and all other required licenses, ensuring itself a healthy development in the future.
China Welfare Lottery Center is responsible for monitoring and controlling the operations and purchasing of Welfare Lottery in the PRC, and the same as China Association of Social Workers, it is governed by Ministry of Civil Affairs of the People's Republic of China. VODone Telemedia is a State-owned Enterprise of the China Association of Social Workers, this ensures the reliability of VODone's lottery ticket sales distribution channel. VODone has signed a 50 years operational contract with VODone Telelmedia, ensuring VODone Telelmedia exclusively provide a series of telemedia services to VODone.
Och-Ziff Fund holds about 5.6% shareholding interest in VODone.
VODone IR website: http://ir.vodone.com
This press release is distributed by Wonderful Sky Financial Group Limited on behalf of VODone Limited.
Contact:
Wonderful Sky Financial Group Limited
Joanne Chan / Miranda Fok / Bianca Tse
Tel:(852) 2851 1038
Fax:(852) 2815 1352
E-mailFjoannechan@wsfg.hk / mirandafok@wsfg.hk / biancatse@wsfg.hk
Apr 28, 2009
Source: VODone Limited
Topic: Corporate Announcement
Sectors: Telecoms, Electronics
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2010 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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