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Integration and beta test of flagship portal to be operational in current quarter and set to boost revenues and margins in 2019
New York, NY – July 12, 2019 — FingerMotion, Inc. (OTCQB: FNGR), a US fintech company with mobile payment and recharge platform operations in China, is pleased to announce that is has expanded the breadth of its services with a definitive Portal Sales and Cooperation Agreement with China Unicom’s Yunnan subsidiary, a leading mobile carrier in China. Under the terms of the renewable 3-year agreement, China Unicom’s Yunnan subsidiary has migrated the management and developmental control of the portal to FingerMotion’s subsidiary, JiuGe Information Technology (JiuGe). The existing platform currently handles cellular top up, phone sales, and accessory sales such as sim cards, cases, and prepaid phone cards.
The agreement will also allow for the inclusion of installment plans for the purchase of a new phone or prepaid phone plans. In addition, there will be a rollout of a broadband initiative for consumers and businesses. The Company believes that this agreement will significantly increase revenues and gross margins going forward.
The agreement calls for FingerMotion to share with China Unicom a percentage of the revenues generated from sales on the portal. JiuGe will be responsible for collecting the revenue generated off the platform and paying the costs to maintain the customer service center. This online sales agreement will funnel all of China Unicom’s online sales through this portal. JiuGe will retain a higher percentage of revenue on the cellular “top-up” sales to compensate FingerMotion for the higher level of management and oversight, while China Unicom’s Yunnan subsidiary will retain a higher percentage of gross profit on the hardware and financial insurance products. The handoff of control of the portal has already begun, and the final rollout of the entire line-up of products and services will be accomplished in stages over the coming months.
JiuGe will be licensed to operate and manage China Unicom’s Yunnan Subsidiary’s existing online flagship stores in three major e-Commerce platforms in China, namely Tmall (operated by Alibaba (BABA), JD.com (JD) and PinDuoDuo (PDD). According to a June 2018 article by Forbes titled “For Brands, Alibaba is The Gateway to China and Chinese Customers”. Forbes stated that Alibaba has 617 million monthly mobile users and 552 million active users on its China retail marketplaces (Tmall and Taobao). In comparison, according to Tech in Asia, JD.com has 292 million customers.
Martin Shen, CEO of FingerMotion explained:
“This is an historic agreement for our company and demonstrates how our alignment with other partners are succeeding. China Unicom has entrusted us with not only being the face of its customer service, but also the branding of its official e-commerce stores. It is a tremendous honor to be held in such high regard and our team of programmers and marketers should take much of the credit. Official stores typically receive higher traffic volumes in China due to a perception of greater trust and reliability.
“Operating China Unicom’s official store on the top three e-commerce portals represents a tremendous opportunity for our company. We have a chance to roll out new products and services that should prove exciting and further stimulate consumer demand.”
“We now have a footprint on 3 major Chinese e-commerce portals. Couple this enlarged footprint with access to China Unicom’s subscriber base, and we strongly believe we have a pathway to success. With our current pipeline of projects and adequate financing, we anticipate driving company revenues to next level, which will exceed our prior forecasts and expectations.”
“The agreement represents an extension of our core philosophy to build an ecosphere with private capital cooperation” said Deputy General Manager of China Unicom Yunnan, Mr. Wen Tao. “We are looking for cooperation agreements that are a win-win and believe that JiuGe is able to represent our guiding principles in the execution of the business.”
Mr. Wen Tao continued, “Their experience in the marketplace to drive increased usage of our portal via promotional channels to new and existing users gives was a key factor in this agreement. With their help, users will now have a chance to capitalize on our growing base of product offerings from big data to smart home products. We believe that JiuGe will be able to help us build a better and stronger ecosystem that will increase customer retention while rewarding our users for their brand loyalty. We have joint ventures with over 54 Internet companies and have handed over developmental control of our top 3 official stores to JiuGe based on a belief that they have the capability to accelerate our sales and strengthen the ecosystem we are building.”
About Yunnan Unicom
China United Network Communications Group Co., Ltd. or China Unicom is a Chinese state-owned telecommunications operator in China. China Unicom is the world’s fourth-largest mobile service provider by subscriber base. China Unicom’s principal operations include, among others, fixed-line service, mobile service, domestic and international communication facilities service, international satellite leased line service, data communication service, network access service, value-added services and system integration services related to communications and information services. On April 28, 2009, China Unicom launched “WO” as a new brand covering all of its services, it carries China Unicom’s servicing philosophy underpinned by consistent innovation, with the aim of providing comprehensive support to its individual, family and, enterprise customers. The company’s modern telecommunication network covers China and connect to the world. The company is making a vigorous effort to drive broadband upgrades to their fixed-line and mobile networks as well as the implementation of the “Cyber Superpower” strategy at the corporate level, in order to provide a full range of high-quality information and telecommunication services. At the end of 2018, China Unicom ad 987,000 4G base stations and approximately 215 million fixed-line broadband access ports, and its international roaming service covered 615 operators in 253 countries and regions.
In 2018, China Unicom fully implemented their Focus strategy, as it reported a significantly optimized and healthier business mix with notable improvements in operating performance, delivering some of the best results ever recorded since its reorganization. Service revenue for the year amounted to RMB 263.7 billion on the back of 320 million mobile billing subscribers, 220 million 4G subscribers, and 80.88 million fixed-line broadband subscribers.
About Finger Motion Inc.
Finger Motion is an evolving technology company located in China with a core competency in mobile payment and recharge platform solutions. It is one of five companies in China with access to wholesale rechargeable minutes through top-up credits on the mobile phone. As the primary business continues to grow its user base, the company is developing value added technologies to market to its users. The vision of the company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the company to onboard larger customer bases and eventually drive a consolidation of the top five wholesalers. Finger Motion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.
In order for FingerMotion to realize its vision, it must continue to aggressively invest in research and development. The primary area of focus is the development of “must have” applications for consumers and businesses. The longer-term focus is to develop a marketing platform capable of leveraging all the meta data that is collected by the top telecommunications companies into a predictive model that is able to isolate and extract consumer behavior and habits for future monetization.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
For further information e-mail: info@fingermotion.com
Source: FingerMotion, Inc.
Record Monthly GTV Run Rate of $600 Million
New York, NY – June 05, 2019 – FingerMotion, Inc. (OTCQB: FNGR), a US fintech company with mobile payment and recharge platform operations in China, is pleased to announce that the company’s Gross Transaction Volume (GTV) for the first quarter was $157 million, which represents a 36% quarter over quarter increase versus the $115 million achieved in the fourth quarter, which ended February 28th. This would translate to an annualized run rate of $600 million.
Due to technical integration issues, the SMS business commenced in mid-May, approximately one month later than anticipated. However, for the two-week period, estimated unaudited SMS revenues were 1,068,313 RMB (USD $150,000) and greatly exceeded the Company’s entire first-month projection of 600,000 RMB (USD $84,000) by 78%.
Martin Shen, CEO of FingerMotion, Inc. said:
| “The interest in our platform is growing from top-tier e-commerce platforms. We are deeply focused on our business development and expect to have our next large e-commerce platform launched in the next several weeks, with more in our pipeline. We are very pleased with our quarter over quarter growth and expect it to accelerate. | |
| In addition, the SMS business is now operating at a very efficient level, and we are surpassing even our internal projections. It is our belief that we are moving quickly toward profitability, which makes us even more attractive to investors and partners.” |
About FingerMotion Inc.
FingerMotion is an evolving US technology company with a core competency in mobile payment and recharge platform solutions in China. It is one of a select few companies in China with access to wholesale rechargeable minutes through top-up credits on the mobile phone. As the primary business continues to grow its user base, the company is developing value-added technologies to market to its users. The vision of the company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the company to onboard larger customer bases and eventually drive a consolidation of the top wholesalers. Finger Motion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.
In order for Finger Motion to realize its vision, it must aggressively invest in research and development. The primary area of focus will be the development of “must have” applications for consumers and businesses. The longer-term focus will be to develop a marketing platform capable of leveraging all the meta data that is collected by the top telecom companies into a predictive model that is able to isolate and extract consumer behavior and habits for future monetization.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements give our current expectations of forecasts of future events. All statements other than statements of current or historical fact contained in this press release, including statements regarding our future financial position, business strategy, new products, budgets, liquidity, cash flows, projected costs, regulatory approvals or the impact of any laws or regulations applicable to us, and plans and objectives of management for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “hope,” “should,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “would” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations about future events. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond our control. Our actual future results may differ materially from those discussed or implied in our forward-looking statements for various reasons. Factors that could contribute to such differences include, but are not limited to: international, national and local general economic and market conditions; demographic changes; the ability of the Company to sustain, manage or forecast its growth; the ability of the Company to manage its VIE contracts; the ability of the Company to maintain its relationships and licenses in China; adverse publicity; competition and changes in the Chinese telecommunications market; fluctuations and difficulty in forecasting operating results; business disruptions, such as technological failures and/or cybersecurity breaches; and the other factors discussed below in the filings we make with the Securities and Exchange Commission.
Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.
For further information e-mail: info@fingermotion.com
Source: FingerMotion, Inc.
About FingerMotion
A MOBILE DATA SPECIALIST COMPANY
We analyze and transform mobile data to change the world …
Finger Motion was founded in 2016 by a group of experienced international business professionals from the Asia Pacific with complementary expertise in game design, development, branding and publishing, marketing, software development, banking and telecommunications.
With the rapid growth in the internet-based businesses in China, Finger Motion business model rides on this growth to build a sustainable business of its own. Serving to more than 1 billion users across China now, Finger Motion will move towards other regional services in the near future as part of its future expansion plans.
Mission
Innovation, pragmatism and integrity
> MOBILE DATA SERVICE PLATFORM
An innovative exchange platform for providing seamless integration between telecommunication companies and businesses
Service Platform
OVERVIEW
A Seamless Integration Platform developed by Finger Motion which offers mobile data for businesses in discounted rates and give the flexibility in customizing a marketing campaign. Marketing campaigns range from Product Publicity, New Clients Acquisition and Existing Clients / Customer Retention.
This platform integrates the data resources of all the major operators with the mobile internet partners to give the most efficient and value for money usages to the end users and our customers.
>> PAYMENT & RECHARGE PLATFORM
Enables consumers to recharge or top-up their mobile credits seamless in real-time
System Platform
OVERVIEW
This is the Platform developed by Finger Motion using the internet to provide customers with high quality and stable real-time online recharging services. All users around the country (China) can recharge designated mobile phone number account through online direct-recharge (real-time), thus providing the convenience, efficiency and secure recharge platform.
In Finger Motion, our ability to aggregate the provider will give us the advantage to give a more efficient and value for money data usages and with this we are able to pass these benefits to the users thru the usage of this platform for a win-win situation.
>> BIG DATA INSIGHTS
A data analysis application platform developed to analyze consumer behaviour and activities for government departments and corporate customers.
OVERVIEW
Big Data Insights are large data sets that may be analysed to filter and dissect trends and patterns in accordance to any predefined parameters. These rich information generated can then be used in a more efficient manner.
At Finger Motion, we have developed a data analysis application platform which allow us to make sense on these data in real time. These data information will then give the users a much better visibility, precise accuracy and greater transparency of information for advance business insights which could be used to help the government departments and corporate customers make better decisions. Decisions which was made based on experience and intuition previously is now made through machines using large amount of data and at Finger Motion, we will provide the services.
Management Team
Martin J. Shen
Group CEO
Martin has nearly 15 years of experience in senior management roles in entrepreneurial startups as well as large multinational corporations. In those roles he has acquired wide-ranging expertise in corporate management, financial oversight and operational administration.
Most recently, Martin founded Imperial Distributors (formerly AP Martin Pharmaceutical Supplies Ltd.), establishing the company as the preferred choice for providing distributional support to regional pharmacies throughout Western Canada. His leadership duties included overseeing all aspects of operations, including managing legal and regulatory compliance issues. They covered ensuring compliance with Health Canada requirements as well as all relevant federal, provincial and municipal legislation. He also led the finance department, building a sound foundation for the accounting function and leveraging his extensive experience in public accounting to guide the acquisition of two companies in Alberta.
Prior to Imperial, Martin served as Chief Operating Officer and Chief Financial Officer at Wales and Son Industrial (later re-named Weir Minerals). The firm specializes in the global delivery of, and support for mining slurry equipment solutions including pumps, hydrocyclones, rubber and wear resistant linings. Sectors served include mining and mineral processing, energy and general industry.
As COO and CFO, Martin directed all financial and internal operational activities. This included financial statement preparation and tax filings, banking arrangements, executive compensation and share purchase agreements. He was also responsible for the analysis of monthly results and financial statements and reconciliations to Group head office.
Martin began his career at PricewaterhouseCoopers in the tax department in Singapore and the audit and advisory group in Hong Kong. As a Tax Manager, he consulted with tax departments of multinational corporations, including Raytheon and Exxon, to provide tax saving mechanisms and future tax planning strategies. Martin also conducted tax conferences and seminars for current and potential clients to provide overview of tax planning scenarios.
Martin also spent several years in PwC Vancouver, auditing major Canadian companies and in the process building his expertise in financial management, compliance and financial statement reporting. A US Certified Public Accountant, he holds a BSc from the University of British Columbia.
Li Li
Senior VP
Ms. Li Li graduated from Nanjing Academy of Engineering. In 2004, she founded Shanghai ChuangYe Network Technology Co., Ltd. as the Vice President. Through close cooperation with local operators, the company launched SMS and MMS services, WAP and mobile JAVA games, Hunan Satellite TV “HTV” e-magazine and other wireless Internet services to meet the rapid development of wireless internet content and extensive application requirements.
In 2007, Ms. Li Li served as Vice President of Hangzhou JiuYue Information Technology Co., Ltd. Through extensive and in-depth cooperation with operators, the company is committed to the development of SP services such as IVR (Wireless Voice Value-Added Services), voice mail, electronic data exchange, online data processing and transaction processing.
In 2009, Ms. Li Li served as Vice President of Hangzhou LingXuan Information Technology Co., Ltd. With in-depth understanding of the mobile Internet business, combined with years of experience in the operation of wireless value-added services, after an in-depth analysis of the market situation, she proposed the idea of building a wireless value-added interactive services platform and creating an online and offline O2O service model. . Through close cooperation with operators, the company provides an integrated operation platform that covers online services such as information, music, video, and colored ring tones, as well as offline activities such as the Fans Club Meeting in campus, and thus realizes online services for products. Underneath each other, the industry chain is seamlessly connected.
In 2014, Ms. Li Li served as Vice President of Shanghai JiaPinMi Information Technology Co., Ltd. In 2014, WeChat opened the Wi-Fi interface, indicating the big leap and undercurrent of commercial Wi-Fi. However, at the time, there was no domestic Wi-Fi platform that provided blue-collar people with free Internet access, life style and added service to the community. At the beginning of her term of office, Li Li seized the opportunity and proposed to establish a “Hi-WiFi” platform through cloud-based big data marketing with in-depth cooperation with operators, providing blue-collar work force community with free access to the Internet, living, and services. It also provides enterprises with one-stop enterprise-level services based on information-based services and multiple specialized platform services, thus making “Hi-WiFi” the first domestic blue-collar work-force lifestyle platform to be developed. As a one-stop mobile marketing service provider that provides advertisers with wireless marketing solutions to achieve accurate marketing goals. Currently, any service of the platform can reach 100 million direct blue-collar user groups with nearly 300 million download speeds of up to 700 KB per second. Users no longer have to worry about data traffic usage restrictions.
In 2017, Ms. Li Li served as an Advisor to Shenzhen WuYiKa Technology Co., Ltd. WuYiKa is a comprehensive service platform based on carrier traffic and dedicated to digital online service distribution and payment. It has now become a fast and efficient provider of new media marketing solutions for mobile Internet.
Source: http://fingermotion.com/
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