China Vanguard Group Limited is an investment holding company. Through its subsidiaries, the Company operates in three segments: provision of lottery-related services segment, provision of entertainment value-added services (VAS) segment and others segment. Others segment includes distribution of natural supplementary products, catering services and sales of animal feeds. As of the fiscal year ended June 30, 2012, the Company disposed HK Noble Palace Catering Investment Limited, and acquired 100% equity interest in Next Champion Limited. The Company�s subsidiaries include Ace Bingo Group Limited, B & B Group Holdings Limited, B & B International Marketing (HK) Limited, B & B International Marketing Limited, B & B Winery Limited, Best Delight Group Limited and Birdview Group Limited, among others.