FingerMotion, Inc. - FNGR STOCK NEWS

FingerMotion (NASDAQ: FNGR) announced the rollout of a new device protection insurance product in collaboration with China Unicom, expanding a partnership initiated in 2019. This insurance, which covers mobile phone screen damages and warranty extensions, targets the network's 400 million users and aims to enhance customer retention as they upgrade to 5G. The initial rollout will focus on four provinces, starting with Henan, aiming for 500,000 users within the year. FingerMotion anticipates boosting user engagement through this innovative service.

FingerMotion, Inc. (NASDAQ:FNGR) has released a video message from its CEO outlining corporate updates and future expectations for 2022. The company successfully uplisted to the Nasdaq Capital Market in late December 2021, enhancing visibility to investors. Notable points include growth in the 'top-up' business with major e-commerce platforms, significant revenue generation from the SMS division, and plans to launch new device protection brands. The company also anticipates entering the Insurtech space, presenting potential revenue growth opportunities.

FingerMotion, Inc. (NASDAQ:FNGR) reported its Q3 2022 financial results, revealing a revenue increase of 21% to $5.9 million compared to Q3 2020. The Telecommunications Products & Services revenue surged by 580%, amounting to $2.8 million. However, the SMS & MMS segment saw a 40% decline, equating to a $1.78 million revenue loss. Despite achieving a gross profit of $967,075, the net loss rose by 47% to $1,037,172. The company had a positive cash balance of $1.1 million and a working capital surplus of $5.5 million.

FingerMotion, Inc. (FNGR) has engaged Skyline Corporate Communications Group to enhance its investor relations and corporate communications. The partnership aims to communicate the company's growth strategies and objectives effectively. CEO Martin Shen highlighted the Nasdaq listing and robust operational activities as reasons for this collaboration. FingerMotion specializes in mobile payment solutions in China and seeks to expand its user base, aiming to serve over 1 billion users in the future.

FingerMotion, Inc. (OTCQX:FNGR) announced its approval to list its shares on the Nasdaq Capital Market, with trading commencing on December 28, 2021. CEO Martin Shen emphasized the greater exposure this listing provides to investors as the company pursues ambitious growth strategies, including expansion into new markets worldwide. FingerMotion specializes in mobile payment solutions in China and aims to rapidly grow its user base along with developing value-added technologies. The company aspires to serve over 1 billion users in China and expand to other regions.

FingerMotion (OTCQX:FNGR) announced a partnership between its subsidiary, JiuGe Technology, and Munich Re to enhance behavioral analytics for the insurance market in China. The collaboration aims to improve understanding of morbidity patterns and improve products and services for consumers. Utilizing JiuGe's Sapientus platform, the alliance seeks to drive innovation in risk assessment, product customization, and claims management. This partnership highlights a focus on customer profiling and efficient service delivery, aligning with market demands for improved insurance experiences.

FingerMotion has announced the results of its annual stockholder meeting held on November 22, 2021. Key outcomes include the election of Hsien Loong Wong, Leong Yew Poh, Michael Chan, and Ng Eng Ho to the Board of Directors, and the appointment of Centurion ZD CPA & Co. as the independent accounting firm. Additionally, the 2021 Stock Incentive Plan and executive compensation were approved, with annual votes on compensation established. Executives Martin Shen and Yew Hon Lee were re-appointed as CEO and CFO, respectively.

FingerMotion (OTCQX: FNGR) has announced that its subsidiary, JiuGe, has trademarked two new brands, 'Ji Shi Fu' and 'Baowo'. These brands aim to introduce a device protection program for telecom customers in China, potentially covering hundreds of stores across over 10 provinces. JiuGe plans to integrate these services with the help of a major American insurance firm in early 2022, targeting mobile device repairs and upgrades. Initial beta testing will occur in several key provinces, with expectations of creating new revenue streams.

FingerMotion (OTCQX:FNGR) reported Q2 2022 financial results, achieving $5.39 million in revenue, reflecting a 25% increase in SMS & MMS revenue and a 142% growth in Telecommunications Products & Services. The net loss expanded to $1.45 million, a 51% increase year-over-year. Cash stood at $878,085 with total assets of $9.38 million. The Company's gross profit margin improved from 7% to 13%, bolstered by hardware sales. Management noted strong demand and growth potential, particularly in Big Data, alongside increased operational expenses related to business expansion.