- FingerMotion is a U.S.-based communications technology business focused on serving the enormous cell phone and reinsurance markets in China
- Company CEO Martin Shen recently reported on the growing operations of FingerMotion and the increase in annual revenues when he appeared at LD Micro’s annual investor-centric conference in California
- Shen noted that FingerMotion’s ultimate goal is to improve people’s lifestyles by using technology and data analysis to boost understanding, and creating new products that further develop that goal
- The company is expanding on its SMS, MMS and top-up revenue channels by developing RCS services and a device protection plan operation for the coming year
FingerMotion (NASDAQ: FNGR) continues to build a strong telecommunications revenue stream in mobile top-up, short and multimedia messaging (SMS and MMS) services for Chinese consumers while building new revenue channels in several of China’s provinces, particularly in rich communication services (“RCS”) that mark an evolution of SMS and MMS by drawing on the power of 5G wireless technology to expand marketing and purchasing services.
As an evolving communications and big data technology company, FingerMotion continues to seek new capital to fund its growing endeavors in China’s 1.6 billion-person mobile products and services market.
On June 8, FingerMotion CEO Martin Shen joined companies presenting information about their operations to peers and potential investors at the 12th Annual LD Micro Invitational Conference in the Greater Los Angeles area’s Westlake Village (https://nnw.fm/pKe76), building on similar efforts that have taken place since FingerMotion listed its shares of common stock on the Nasdaq Capital Market in December (https://nnw.fm/8tyJx).
“Our primary area of focus is the development of must-have application for consumers and businesses,” a promotional video introduced by Shen at the LD Micro conference stated.
“Hopefully you can see from that video that we’re well-entrenched in the mobile phone arena, particularly in the mobile data spaces,” Shen followed up. “With our data and our big data insights arm Sapientus we hope to fulfill our vision, which is to improve people’s lifestyle by understanding human behavior, by innovating new products, enhancing the products that already exist, and then hopefully with those consumer and understanding human behavior analytics we can improve lifestyle in general” (https://nnw.fm/vp2WM).
In China’s mobile phone use market, consumers continually run out of minutes and data allowances and have to “top up” to add more user time for themselves — a need FingerMotion was quick to satisfy.
“We’ve been doing this for about three years. We’re very confident in our platform — the Telcos are very happy because their consumers are happy,” Shen said.
FingerMotion’s SMS and MMS texting and video services have provided the bulk of its revenues, which overall grew $6.24 million, or 37 percent, from FY 2021 to FY 2022, as reported June 1 (https://nnw.fm/yWM9t).
Regarding the RCS product, Shen said the company is in the process of developing it and hopes to launch it within the current fiscal year.
“We have a few expansion plans with some new funding, first of which, which is most exciting, is our device protection plan,” Shen said. “We’ll still continue to grow our RCS. … And finally we’ll continue to build out our big data and our Sapientus arm.”
The big data analyzed and developed through Sapientus has been directed to serving re-insurance companies operating in Asia since its launch last year.
“This year, we are just shy of $23 million in revenue, so you can see that the growth of the last four years has been quite substantial,” Shen said. “We’re excited about what the device protection plan can bring forward to us because we think that’s revenue where there’s very little cost associated with it — we’re just running it and we’re bringing the companies together that need to do it.”
For more information, visit the company’s website at www.FingerMotion.com.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://nnw.fm/FNGR
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork
