FingerMotion, Inc. - FNGR STOCK NEWS

FingerMotion, Inc. (NASDAQ: FNGR) announced that its subsidiary, Shanghai JiuGe Information Technology, has received national certification from China's Ministry of Industry and Information Technology for its Advanced Mobile Integrated C2 Platform. This platform is integrated with SAIC Maxus vehicles, creating a state-of-the-art emergency response vehicle.

The certification is expected to accelerate the distribution of these vehicles across China. The emergency response vehicles are equipped with advanced features including a unified in-vehicle communications unit, smart PTZ cameras, satellite communications, an unmanned aerial vehicle, and a multi-network integrated dispatch system. These vehicles have been successfully tested in major national-level emergency response drills, demonstrating their ability to operate in extreme conditions.

FingerMotion (NASDAQ:FNGR) announced its subsidiary, JiuGe Technology, has launched a new Advanced Mobile Integrated Command and Communication Platform (C2 Platform) aimed at enhancing emergency response in China. The C2 Platform will be integrated into vehicles used in civil emergencies, improving coordination among dispatchers, first responders, and healthcare agencies. Initial installations are in Zhejiang province, with potential for wider adoption. The platform combines various disaster communication systems and integrates voice, video, and data for improved decision-making. This development aligns with China's national initiative to bolster crisis response capabilities, indicating potential for ongoing demand and future contracts.

FingerMotion (NASDAQ:FNGR) reported its FY 2024 financial results, reflecting a mixed performance. The company achieved annual revenue of $35.79 million, a 5% increase from the previous year. Telecommunications Products & Services revenue grew by 21%, while SMS & MMS and Big Data segments saw declines of 60% and 25% respectively. Gross profits rose significantly by 67% to $3.86 million, despite a slight 1% increase in the cost of revenue. Operating expenses decreased by 15%, and the net loss was halved to $3.76 million. FingerMotion ended the year with $1.52 million in cash, $11.97 million in working capital surplus, and positive shareholders' equity of $12.06 million. The company aims to continue its transition towards higher-margin projects and product diversification.

FingerMotion, Inc. (NASDAQ:FNGR) is entering into arrangements with EV charging station providers in China to allow Da Ge app subscribers to locate and charge their vehicles, expanding Da Ge's usage. The agreements with Jiangsu YKC and Shanghai Anyo Charging Technology Co., will provide access to over 400,000 charging terminals for electric vehicles, tapping into the growing Chinese EV market. Da Ge, launched in January 2024, has 650,000 active subscribers and aims for significant growth in car care service stations. CEO Martin Shen sees this collaboration as a positive step towards monetizing the app and enhancing subscriber experience, with potential future offerings to further boost subscriber numbers by FY 2026.

FingerMotion, Inc. filed a lawsuit against Capybara Research for securities fraud, tortious interference, and defamation. The company later added claims against Benzinga for similar allegations. FingerMotion reached a settlement with Benzinga to remove references to Capybara's article from its website.

FingerMotion, Inc. (NASDAQ:FNGR) and its CEO, Martin J. Shen, received awards at the FiNext Conference in Dubai. The company won the Excellence in Finance - Companies Award, and Mr. Shen received the Excellence in Finance - Leaders Award for his contribution to the finance industry. The awards recognize exceptional performance, innovation, and leadership within the finance and fintech sector.

FingerMotion, Inc. (NASDAQ:FNGR) announces the outcomes of its recent annual meeting of stockholders, including the election of new board members, appointment of an independent registered public accounting firm, approval of executive compensation, and re-appointment of key executive officers.

FingerMotion, Inc. (FNGR) will be participating in The Microcap Conference from January 30 to February 1, 2024, with CEO Martin J. Shen presenting on January 31 at 12:30 pm ET. Interested parties can register to attend the event and schedule one-on-one meetings with the management team.

FingerMotion, Inc. (NASDAQ:FNGR) has announced the preliminary approval of a dividend in kind of warrants to purchase shares of the company's common stock. The terms and dates for the dividend will be determined by the Board of Directors, and the company intends to file a registration statement with the SEC for the purpose of registering the dividend warrants and the underlying common shares.