V1 Group Limited (Stock code: 82.HK) has completed the Second Subscription in Bank of Asia. The Board is pleased to announce that its direct wholly-owned subsidiary Smart Token Holdings Limited further subscribed 50,190,323 new ordinary shares in Bank of Asia, representing approximately 31.1% of the total number of issued shares of the Bank of Asia as enlarged by this subscription.

  Bank of Asia, an Internet finance service provider with banking license, is the first bank in the world that bases on Internet and cloud computing. V1 Group has been committed to expanding its mobile Internet services since its establishment. In the process of providing mobile games, lottery betting service and video news to hundreds of millions of Internet users, V1 Group has acquired a large number of loyal mobile Internet users. Providing global financial services to these users has always been the Group’s good wish; meanwhile improving its Internet finance business will strengthen the Group’s competiveness.

Dr. Zhang Lijun, Chairman of the Board of V1 Group and Chairman of China Arab TV

Dr. Zhang Lijun, Chairman of the Board of V1 Group and Chairman of China Arab TV said: “V1 Group will offer more financial services and platforms to hundreds of millions of Internet users and satisfy users’ needs. The cooperation between V1 Group and Bank of Asia will also promote Bank of Asia’s advantage in Internet finance business, especially its advantage in providing offshore financial services to qualified potential clients in Asia-Pacific region.”

Subscribing for shares of Bank of Asia will improve V1 Group’s business layout and advance rapid development of the Group’s Internet finance business, which will largely enhance the Group’s strength and competitiveness in the market and bring more additional value to its users.

Bank of Asia, operating based on the Internet, is expected to become a low-cost, efficient Internet bank with significant profits by applying advanced Internet business model and taking advantage of the cloud computing platform and V1 Group’s large amount of users. In the meanwhile, as V1 Group’s online video, Internet healthcare and VR business form a synergistic effect with Bank of Asia’s Internet finance services, the Group is highly expected to achieve better performance than ever before.

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About V1 Group Limited

V1 Group was established in 2005, listed on the Main Board of Hong Kong Stock Exchange in 2006, became the first Chinese video media enterprise listed in Hong Kong. V1 Group Limited was named the “China’s Top 100 Internet Companies” three years in a row from year 2014 to 2016.

After eleven years of rapid development, V1 Group’s main businesses have been fully covered the Internet and mobile terminals. In 2016, V1 Group successfully transformed from the new media industry group into a new economy in the internet industry, with extensive layout in new media, online games, internet healthcare, internet travel, internet education, internet finance and many other fields, which strive to build an internet life circle to solve the basic needs for users. V1 Group is now become an integrated new industry group in internet plus life field.