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AGTech Announces First Quarterly Results For the Three Months Ended March 31, 2020

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AGTech Wins Lottery Hardware Bids in Four Provinces and One Municipality of China
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AGTech Holdings Limited, a leading integrated lottery, games and entertainment technology company in China, announced the first quarterly results for the three months ended March 31, 2020.

According to Ministry of Finance of the PRC figures, during the Three-Month Period, lottery market recorded sales of approximately RMB37.7 billion, a decrease of approximately 64.5% compared to the corresponding period in 2019. Of this, Welfare Lottery amounted to approximately RMB18.06 billion, representing a decrease of approximately 63.2% compared to the corresponding period in 2019. The Sports Lottery achieved sales of approximately RMB19.65 billion, representing a decrease of approximately 65.7% compared to the corresponding period in 2019. Other than the closure of national lottery market during Chinese Lunar New Year, the drop in sales was mainly due to the impact of the COVID-19 outbreak while the business hours of lottery sales outlets were significantly reduced. The Group is closely monitoring the latest development and impact of the COVID-19.

AGTech will continue to leverage on and explore opportunities for collaboration with Alibaba Group’s retail ecosystem to enhance on lottery distribution models where appropriate. The Group also anticipates a gradual rollout of our SaaS (Software-as-a-Service) platform aiming to serve and benefit users from all sectors within the lottery supply chain. Our platform is expected to be well equipped for applications within the Alibaba digital ecosystem, in addition to any potential change in distribution channels other than the current retail model.

AGTech’s Hardware division primarily supplies the Sports Lottery and the Welfare Lottery and has hardware deployed in multiple provinces, cities, municipalities and autonomous regions across China. The Group will continue to pursue tenders to supply to the lottery and other hardware market and bid for new contracts after resumption of tenders post COVID-19 delays.

Paytm First Games, a joint venture of the Group with One97 Communications Limited continued to develop its mobile games and entertainment platform in India, offers players a unique online experience with popular games content such as social games, card games and fantasy sports games. The Group is hopeful that Paytm First Games will continue to grow its user base, paving the way to monetize this unique platform, thus capitalizing on the significant potential of the fast growing mobile games and entertainment market in India.

 

Financial Highlights

Revenue of the Group for the Three-Month Period amounted to approximately HK$13.7 million, representing a decrease of approximately 32.2% over the corresponding period in 2019. Revenue contributions were mainly derived from lottery hardware, lottery games and systems, provision of lottery distribution and ancillary services, games and entertainment business in the PRC.

The decrease in revenue for the Three-Month Period was primarily caused by the decrease in sales of lottery hardware of approximately HK$3.4 million, decrease of approximately HK$1.5 million in revenue from the provision of lottery distribution and ancillary services, and decrease of approximately HK$1.2 million from the lottery games and systems.

Such decrease in revenue was mainly due to the prolonged closure of domestic lottery market which lasted nearly 40 days and delay in lottery hardware tender and delivery as a result of the COVID-19 pandemic. Under the market closure arrangements for Chinese Lunar New Year, the PRC’s lottery market was closed from 22 to 31 January 2020 and was originally scheduled to resume sales on 1 February, 2020. Amidst prevention and control of the pandemic, reopening of the PRC’s lottery market was postponed to 11 March 2020, since then sales of welfare lottery and sports lottery have begun to gradually resume subject to different arrangements in different regions.

The loss for the Three-Month Period was approximately HK$64.6 million, representing a decrease of approximately 9.0% over the corresponding period in 2019.

 

About AGTech Holdings Limited:

AGTech was incorporated in Bermuda and its shares are listed on the GEM (Stock Code: 08279). AGTech is an integrated technology and services company engaged in the lottery and mobile games and entertainment market with a focus on China and selected international markets. A member of the Alibaba Group with around 360 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Financial Group.

AGTech’s businesses are broadly divided into two categories:

Lottery (including hardware, games and systems, provision of distribution and ancillary services); and Games and Entertainment.

AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), and an official partner of the International Mind Sports Association (IMSA).

 

Source: AGTech Holdings Limited

Asia

AMD Announces GameOn 2024: Nationwide Counter-Strike 2 Tournament Offers ₹300,000 Prize, Culminates in Hyderabad

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AMD, a leader in semiconductor manufacturing, has unveiled the AMD GameOn 2024, an open-for-all esports tournament for Counter-Strike 2 with a total prize pool of INR 300,000. The Main Event of the AMD GameOne 2024 is set to take place at IndiaJoy 2024 Asia’s premier media and entertainment congregation, in the HICC, Novotel, Hyderabad on Nov. 16 and 17.

Commenting on the tournament, Pramit Khanna, Channel Marketing Manager DIY and Gaming, AMD India said, “As one of the leaders in the computing space, we have been supporting India’s esports ecosystem since day 1, and the AMD GameOn 2024 is another such IP for esports enthusiasts. The open-for-all format ensures every gamer has a chance to compete in the pan-India tournament and make it to the LAN in Hyderabad. I wish the best of luck to all participants and can’t wait to welcome the four finalists in Hyderabad.”

The AMD GameOn 2024 began with the open qualifiers, where the registered teams competed for slots to the Closed Qualifiers. The Closed Qualifier, with 8 total teams, has wrapped up, confirming the four finalists for the AMD GameOn 2024 Main Event at IndiaJoy 2024 on Nov. 16 and 17 in Hyderabad. Skyesports is set to be the esports partner for the event.

The four teams are listed below. They will compete in a single-elimination bracket to determine the champions of India. Matches from the AMD GameOn 2024 Main Event will be livestreamed on the Skyesports YouTube channel.

  • True Rippers

  • Carnival Gaming

  • Gods Reign

  • Victores Sumus

Besides the esports action at the AMD booth in the IndiaJoy 2024, players will also be able to experience gaming on AMD Advantage systems, which deliver a supreme and optimized performance by combining AMD Ryzen™ CPUs, AMD Radeon™ GPUs, smart technologies, and AMD software. Therefore, AMD’s experiential zone at the IndiaJoy 2024 will be the one-stop immersive place for gamers, combining esports action and providing a hands-on gaming experience.

Shiva Nandy, the Founder and CEO of Skyesports, said, “We are thrilled to be the esports partner for AMD GameOn 2024, working once again with our anchor brand, AMD. With open qualifiers to give every gamer a chance and invited teams to ensure top-notch esports action, this tournament is a delight for all gamers. AMD has been one of the biggest supporters of esports in India over the years, and this tournament aligns with our vision of bringing Counter-Strike 2 into the spotlight ahead of Skyesports’ $1.7 million prize pool roadmap for 2025, where we will host four on-ground events across the country.”

India currently has about 500 million gamers, a number expected to grow to 730 million by 2028, with a 5-year CAGR of 10 percent, making the country the largest market by the number of gamers. Additionally, 65 percent of gamers either watch esports or compete in tournaments, per Niko Partners, with IPs like the AMD GameOn at the forefront of attracting their attention.

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Asia

DreamHack x Hyderabad Comic Con 2024 Day 2: Wagh Suyog crowned champion of Rapid Chess tournament; Karan Kanchan steals the show with electrifying DJ set

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The second day of DreamHack 2024 x Hyderabad Comic Con, India’s largest celebration of gaming and pop culture, delivered thrilling esports action, landmark achievements, and unforgettable moments as fans turned out in large numbers at the Hitex Exhibition Centre.

Hosted by NODWIN Gaming, a leader in new-age youth entertainment, gaming, and esports this year marks the fifth anniversary of India’s biggest gaming festival. DreamHack’s legendary BYOD (Bring Your Own Device) Zone reached an unprecedented milestone, with tickets selling out for the first time ever. Gamers from across the country brought their own setups to compete and compete in titles including eFootball, THE FINALS, World Cricket Championship 3 (WCC 3), Brawlhalla, Counter-Strike 2, Spectre Divide, and many more, making the zone a hub of energy and camaraderie throughout the day.

After intense semi-final matches, Team LFO, Team Cheems, Team Payback, and AMIGOS Esports qualified for the grand finals of the OMEN VALORANT Campus Quest Season 2. Each team demonstrated exceptional strategy and team play, keeping fans on the edge of their seats.

Meanwhile, Wagh Suyog showcased remarkable talent and focus,`outmaneuvering a field of skilled competitors to win the Rapid Chess tournament and take home the INR 3 Lakh prize pool championship. His/her victory was celebrated with roaring applause, highlighting the growing appeal of chess as part of DreamHack’s diverse lineup.

In other esports action, GodLike Esports, Vibrance Esports, XLR8, and Anthem showcased their dominance on Day 2 of the Snapdragon Pro Series (Call of Duty: Mobile), while Aditya ‘The Dark Lord’ Verma emerged victorious in the Street Fighter 6 segment of KO Fight Night.

Much to the attendees’ delight KO Fight Night delivered electrifying matches in Tekken 8 and Super Mario Bros Ultimate. Players also turned out in large numbers to participate in the Retro and Board Games tournaments, adding to the vibrant gaming atmosphere.

Following suit to the electric atmosphere of DreamHack, the second day of Hyderabad Comic Con was a vibrant celebration of creativity, fandom, and entertainment. Fans were enthralled by special sessions from Maruti Suzuki Arena, Crunchyroll, and Yamaha Racing, each offering unique insights and experiences for attendees.

Attendees were also treated to comic book debuts, including The Warrior God and Abba Aari (the sequel to Mard Bann), alongside the cover launch of Weapons of Mass Extinction: Stage 1 – Blood of The Last Asuran.

On the other hand, music enthusiasts danced to an electrifying DJ set by Karan Kanchan, while rising comedy star Ravi Gupta (a.k.a. Shudh Desi Comic) had audiences in splits with his witty, desi humour.

The Meet & Greet Zone today featured 8Bit Creatives’ popular gaming personalities, such as Raj Varma (Snax), Payal Dhare (Payal Gaming), Parv Singh (Regaltos), Salman Ahmad (8bit Mamba), Monika Jeph (Sherlock Live), Nishant Williams (Willy Gamingg), Mithul Nayak (Binks), Dhwani Bhatt (Pinkcess), and Dhruv Sangwan (Dhruv), who connected with fans through their stories, popular slangs and gaming insights.

Just like yesterday, the Hyderabad Comic Con Cosplay Contest stole the show, with hundreds of cosplayers competing for a prize pool exceeding INR 5 Lakhs, including a daily grand cash prize of INR 50,000. The city’s best cosplayers battled it out to represent Hyderabad at the Indian Championship of Cosplay 2025 Qualifiers, aiming for a daily reward of INR 1.25 Lakhs.

Day 3 of DreamHack 2024 x Hyderabad Comic Con is set to be a spectacular finale, packed with more comic book launches, special sessions, and engaging fireside chats. As the event reaches its climax, SPS, OMEN Campus Quest Season 2, PAN FEST, KO Fight Night, Blitz Chess tournament, and the BYOD and retro tournaments will all wrap up with their much-anticipated grand finals.

Two critically acclaimed stand-up comedy stars, Syed Bashaar, and Harsh Gujral, will bring the laughs, while Geek Fruit will take everyone on a nostalgic journey with iconic theme songs.

For further updates and information regarding DreamHack x Hyderabad Comic Con 2024, follow NODWIN Gaming & DreamHack India on social media. Get your tickets now to experience the best of both worlds and experience the excitement of DreamHack India 2024 x Hyderabad Comic Con firsthand!

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Asia

Mascots Xiyangyang and Lerongrong ready for China’s 15th National Games

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Joint events were held in Guangdong, Hong Kong SAR and Macao SAR on November 9 to mark the one-year countdown to China’s 15th National Games (NG), the 12th National Games for Persons with Disabilities (NGD), and the 9th National Special Olympic Games (NSOG).

Scheduled to take place from November 9 to 21, 2025, the 15th NG will be hosted across the Guangdong-Hong Kong-Macao Greater Bay Area, with the 12th NGD and the 9th NSOG following from December 8 to 15, 2025.

The three regions are united in their commitment to delivering a “green, inclusive, open, and clean” event, while ensuring it is “simple, safe, and spectacular”. Collaborative efforts are well underway, with preparations progressing actively and prudently.

On the same day, the official theme slogans, emblems, and mascots of the events were unveiled. The slogan for the 15th NG is “Passionate National Games, Vibrant Greater Bay Area”, and that for the following games encourages those participants to pursue dreams in the Greater Bay Area and embark on a brighter journey.

According to the organizing committee of the 15th NG, both slogans are deeply aligned with the strategic positioning of the Greater Bay Area. They embody the Olympic values, Chinese cultural values, and China’s sporting spirit. Beyond that, the slogans reflect the pulse of the times, emphasize local identity, and highlight the features of sports, while striking an emotional chord and fostering a sense of unity.

The mascots for these sporting events are inspired by the Chinese white dolphin, a national first-class protected wild animal. These two adorable creatures, named Xiyangyang and Lerongrong, symbolize joy, harmony, and unity.

Designed around the theme of “prosperity and inclusiveness”, the emblem draws inspiration from the moment of fireworks bursting. The visually striking creation features three intertwining petals that rotate to form a harmonious pattern. Drawing on the distinct shapes and hues of flowers, the designers have carefully arranged the petals in a spiral that converges at the center. This symbolizes the harmonious integration and boundless vitality of the Greater Bay Area. It also represents the region’s deep connection with the motherland and its expanding global influence.

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