CHINA NETCOM TECHNOLOGY HOLDINGS LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
This announcement is made by China Netcom Technology Holdings Limited (the "Company") on a voluntary basis in order to update the business development status of the Company together with its subsidiaries (collectively, the "Group").
The board (the "Board") of directors (the "Directors") of the Company is excited to announce that certain lottery games of the sports entertainment electronic video lottery terminals ("VLT") in Hainan as disclosed in the Company's announcements dated 5 June 2014 and 9 June 2014 have been approved for launching onto the market by the Ministry of Finance of the People's Republic of China (the "PRC") in October 2014. The project is the sole electronic VLT instant lottery in the PRC's sports lottery market. In particular, the video horse racing game of the project is an innovative PRC's lottery. In terms of the high payout ratio and the long operating hours (daily 10:00 a.m. - 2:00 a.m., the next day) of these games, it is unparalleled in the PRC's existing instant lottery games. The relevant lottery games of the aforesaid project have been open for betting since 1 January 2015 through the electronic VLT provided by the Group.
As a well-known international tourist island in the PRC serving over 36 million visitors in 2013, Hainan Province is the only province in the PRC that enjoys national supportive policies on the lottery entertainment sector.
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As the State Council states in Guo Fa [2009] No. 44 that "Commencing trial operation in Hainan of some internationally-recognised travel, sports and entertainment programs, exploring the development of guessing type sports lottery and instant lottery games relating to world-class competitions...", the Group will continue to proactively explore and seek business opportunities for developing lottery projects in Hainan and other provinces of the PRC in line with the relevant national policies on the development of lottery entertainment industry in Hainan.
By order of the Board
Chairman and Executive Director
Hong Kong, 2 January 2015
As at the date of this announcement, the executive Directors are Mr. Leung Ngai Man, Mr. Sung Kin Man and Ms. Wu Wei Hua; and the independent non-executive Directors are Mr. Cai Wei Lun, Mr. Qi Ji and Ms. Xuan Hong.
This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of the Stock Exchange ("GEM") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.
This announcement will remain on the "Latest Company Announcements" page of the GEM website at www.hkgem.com for a minimum period of 7 days from the date of its publication and on the Company's website at www.chinanetcomtech.com.
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