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FingerMotion's Subsidiary JiuGe Technology and Qingling Motors Collaborate on Advancing Intelligent Vehicle Solutions
Newsfile· 2025-06-16 13:00
Core Viewpoint - FingerMotion's subsidiary, JiuGe Technology, is collaborating with Qingling Motors to develop next-generation intelligent vehicle solutions aimed at enhancing efficiency and sustainability in commercial mobility [1][4]. Group 1: Collaboration Details - The joint effort focuses on creating smarter technologies for high-demand sectors such as logistics and emergency response, with Qingling Motors handling vehicle design and compliance, while JiuGe Technology provides system integration and software development [2][3]. - A joint technical taskforce has been established to accelerate innovation, streamline product development, and reduce time-to-market, emphasizing mutual knowledge exchange and shared intellectual property development [3]. Group 2: Market Positioning and Future Plans - This initiative positions both companies to lead in the digital transformation of the commercial vehicle sector, particularly in markets requiring connected and reliable platforms [4]. - Future efforts will include international market expansion and the creation of remote service ecosystems to support specialized logistics and emergency response applications [4]. Group 3: Company Backgrounds - FingerMotion is a technology company with a focus on mobile payment and recharge solutions in China, aiming to grow its user base and develop an ecosystem of high engagement [5]. - Qingling Motors, founded in 1985, is a leading commercial vehicle manufacturer in China, known for its expertise in chassis engineering and new energy powertrains [6].
FingerMotion Subsidiary JiuGe Technology Forms Strategic Collaboration with Zhejiang Jincheng Automotive to Co-Develop Advanced Emergency Response Vehicles
Newsfile· 2025-06-09 13:00
Core Viewpoint - FingerMotion's subsidiary, JiuGe Technology, has formed a strategic collaboration with Zhejiang Jincheng Automotive to co-develop advanced emergency response vehicles, enhancing public safety solutions [1][2]. Group 1: Collaboration Details - The collaboration will focus on developing and marketing a new line of emergency response vehicles, including communication, command, and rescue units [2]. - Key areas of collaboration include product development, sales and promotion, customer support, and resource integration to improve operational efficiency [3]. Group 2: Strategic Alignment - This alliance aligns with JiuGe Technology's long-term growth strategy to strengthen its market position in the emergency response sector, leveraging combined technological expertise and market reach [4]. Group 3: Company Background - FingerMotion is a technology company specializing in mobile payment and recharge platform solutions in China, aiming to grow its user base and develop an ecosystem of high engagement [5]. - Zhejiang Jincheng Automotive, a subsidiary of Zhejiang Jinnong Group, specializes in vehicle development and manufacturing, with a registered capital of RMB 1 billion [6].
FingerMotion, Inc. Reports FY 2025 Financial Results
Newsfile· 2025-05-30 12:00
Financial Performance - FingerMotion reported annual revenue of $35.61 million, a decrease of $0.18 million or 0.5% compared to FY 2024 [4] - The company experienced a year-over-year decline in Telecommunications Products & Services revenue of $5.59 million or 17% compared to FY 2024 [4] - SMS & MMS business revenue grew by $5.52 million or 206% year-over-year compared to FY 2024 [4] - Big Data revenue declined by $0.39 million or 118% year-over-year compared to FY 2024 [4] - Revenue from the DaGe Platform was $0.08 million in FY 2025, while revenue from the Command & Communication (C2 Platform) was $0.19 million [4] Expense Management - General and administrative expenses decreased by $137,710 or 2% during the year [3] - Marketing costs increased by $136,206 or 97% due to the promotion of the newly launched DaGe App platform [3] - Research and development expenses decreased by $66,792 or 10% due to savings from data access and usage fees [3] Profitability and Loss - Gross profits were reported at $2.76 million, a decrease of $1.10 million or 28% compared to FY 2024 [4] - Annual cost of revenue increased by $0.91 million or 3% compared to FY 2024, totaling $32.84 million [4] - Operating expenses rose by $1.03 million or 13% compared to FY 2024, totaling $8.71 million [4] - The company reported an annual net loss of $5.11 million, an increase of $1.30 million or 34% compared to FY 2024 [4] Financial Position - As of February 28, 2025, FingerMotion had $1.13 million in cash, a working capital surplus of $6.90 million, and positive shareholders' equity of $13.66 million [4] - Total assets were reported at $48.82 million, with total current liabilities of $35.13 million and total liabilities of $35.16 million [4] - The company had 57,141,186 common shares issued and outstanding as of February 28, 2025 [4] Strategic Outlook - The CEO expressed confidence in the performance of the SMS & MMS business and the potential growth from the DaGe and C2 platforms [3] - The company aims to expand its customer base and diversify offerings to enhance market penetration [3] - FingerMotion envisions serving over 1 billion users in the China market and expanding to other regional markets [5]
FingerMotion(FNGR) - 2025 Q4 - Annual Report
2025-05-29 11:00
Dividend Policy and Restrictions - The company has not declared or paid any dividends on its common stock and intends to retain all available funds for operations and growth[26]. - The company's ability to pay dividends is subject to PRC legal restrictions, which permit payments only from accumulated after-tax profits[28]. - The ability to pay dividends is limited to the registered capital amount of the WFOE, as determined by Chinese accounting standards[35]. - The Chinese government imposes controls on the conversion of RMB into foreign currencies, potentially complicating the remittance of dividends[35]. - The company relies on payments from the VIE to the WFOE to facilitate dividend payments to shareholders[31]. - The ability to pay dividends is subject to Chinese taxes, including a 6% VAT and 25% enterprise income tax, which may restrict cash flow[31]. - Current Chinese regulations allow the WFOE to pay dividends only out of its registered capital, which may limit the Company's ability to distribute profits[35]. - The company’s WFOE must allocate at least 10% of annual after-tax profits to a statutory general reserve fund until it reaches 50% of registered capital[28]. Regulatory Compliance and Risks - The company has not received any inquiries or sanctions from the CSRC regarding the Overseas Listing Trial Measures as of the report date[23]. - The Overseas Listing Trial Measures require domestic companies to file with the CSRC for overseas offerings if certain conditions are met, potentially impacting the company's operations[20]. - The company faces uncertainties regarding the interpretation and application of Chinese laws and regulations, which could materially affect its operations[19]. - The company faces risks related to the interpretation of Chinese laws and regulations regarding the VIE structure, which could materially affect operations[18]. - The PCAOB determined it could inspect registered public accounting firms in mainland China and Hong Kong, affecting the company's compliance status under the HFCAA[36]. - As of the latest report, the company is not a Commission Identified Issuer under the HFCAA, reducing the risk of delisting from Nasdaq[36]. - The enactment of the HFCAA could still cause investor uncertainty and negatively impact the market price of the company's common stock[37]. - The Overseas Listing Trial Measures require domestic companies to comply with filing procedures for overseas offerings, with penalties for non-compliance ranging from RMB1,000,000 to RMB10,000,000[20]. VIE Structure and Financial Implications - The company relies on payments from its VIE to its WFOE under the VIE Agreements for cash requirements, including dividends[25]. - The VIE is obligated to make payments to the WFOE, but such payments are subject to Chinese taxes, including a 6% VAT and 25% enterprise income tax[25]. - The VIE is obligated to make payments to the WFOE, which may be restricted by Chinese taxes including a 6% VAT and 25% enterprise income tax[31]. - The company relies on payments from the VIE to the WFOE for cash requirements, which may be limited by various regulatory restrictions[31]. Cybersecurity and Investigations - The company has not been involved in any cybersecurity investigations by Chinese regulatory authorities as of the report date[19]. - The company has not been involved in any cybersecurity investigations by Chinese regulatory authorities as of the report date[19].
FingerMotion to Present at the LD Micro Invitational XV
Newsfile· 2025-04-03 13:00
Company Overview - FingerMotion, Inc. is a mobile services, data, and technology company focused on mobile payment and recharge platform solutions in China [7] - The company aims to grow its user base organically and develop an ecosystem of highly engaged users, with a long-term goal of serving over 1 billion users in the China market and expanding to other regions [7] Upcoming Event - FingerMotion will participate in the 15th Annual LD Micro Invitational on April 9th and 10th, 2025, at the Westin Grand Central in New York [1][4] - The company is scheduled to present on April 10, 2025, at 8:00 a.m. ET, with CEO Martin J. Shen representing the company [2][3] Event Details - The LD Micro Invitational XV will feature over 50 companies presenting in half-hour increments and will include private meetings with interested parties [5] - Registration for the event will begin at 2:00 p.m. ET on April 9th, followed by keynotes and a happy hour [4]
FingerMotion Announces Participation in the 37th Annual ROTH Conference
Newsfile· 2025-03-14 22:11
Company Participation - FingerMotion, Inc. will participate in the 37th Annual ROTH Conference from March 16 to 18, 2025, at The Laguna Cliffs Marriott in Dana Point, California [1] - The event will feature 1-on-1 meetings, small group discussions, fireside chats, and panels with executive management from approximately 450 companies across various growth sectors [2] Management's Perspective - FingerMotion's CEO, Martin Shen, expressed excitement about the conference, highlighting it as an excellent platform to showcase the company's innovative products and services to the investment community [4] Company Overview - FingerMotion is a technology company specializing in mobile payment and recharge platform solutions in China, aiming to grow its user base and develop an ecosystem of highly engaged users [6] - The company aspires to serve over 1 billion users in the Chinese market and plans to expand its model to other regional markets [6]
FingerMotion Announces Results of Annual Meeting
Newsfile· 2025-03-04 14:00
Company Overview - FingerMotion, Inc. is a mobile services, data, and technology company focused on mobile payment and recharge platform solutions in China [1] - The company aims to grow its user base organically and develop an ecosystem of highly engaged users utilizing its innovative applications [1] - FingerMotion's long-term vision includes serving over 1 billion users in the China market and expanding to other regional markets [1] Recent Developments - The company held its annual meeting of stockholders on February 28, 2025, where several key decisions were made [1] - Martin J. Shen, Hsien Loong Wong, Yew Poh Leong, Eng Ho Ng, and Tuck Seng Low were elected to the Board of Directors [3] - CT International LLP was appointed as the independent registered public accounting firm for the company [3] - The executive compensation was approved, and Martin J. Shen was re-appointed as President and CEO, while Yew Hon Lee was re-appointed as CFO, Secretary, and Treasurer [3]
FingerMotion Awarded Multiple Contracts to Deliver Vehicles Equipped with Advanced Satellite Communication Command Platform
Newsfile· 2025-01-23 14:00
Core Insights - FingerMotion, Inc. has been awarded multiple contracts to equip emergency response vehicles with its Advanced Mobile Integrated Command and Communication Platform (C2 Platform) to enhance communication and coordination capabilities for emergency agencies [1][3]. Group 1: Contract Details - The contracts were secured through a competitive public tender process that evaluated technical capability, cost-effectiveness, and regulatory compliance [2]. - Shanghai JiuGe Information Technology Co., Ltd., a subsidiary of FingerMotion, was selected as the preferred partner for providing tailored solutions [2]. Group 2: Product Features - The emergency response vehicles will feature the Advanced Satellite Emergency Command Platform, which includes a unified in-vehicle communications unit, a smart PTZ camera, a satellite communications terminal, an unmanned aerial vehicle, and a multimedia command and dispatch system [3]. - The platform ensures uninterrupted communication for first responders, allowing for real-time critical information exchange, which is essential for effective decision-making and mission planning [4]. Group 3: Company Vision and Market Strategy - FingerMotion aims to expand its market reach for emergency response solutions through collaboration with partners in the sector [3]. - The company is focused on growing its user base in China and developing additional value-added technologies to enhance user engagement [5].
FingerMotion(FNGR) - 2025 Q3 - Quarterly Results
2025-01-15 21:15
Financial Performance - Reported quarterly revenue of $8.53 million, an increase of $2.39 million or 39% compared to Q3 of fiscal 2024[8] - Reported quarterly loss of $1.66 million, a decrease of $0.28 million or 15% compared to Q3 of fiscal 2024[11] - Basic and diluted loss per share improved to $0.03 from a loss per share of $0.04 for Q3 of fiscal 2024[11] - General and administrative expenses decreased by $676,566 or 30% during Q3 2025[11] Revenue Segments - Telecommunications Products & Services revenue increased by $2.36 million or 39% compared to Q3 of fiscal 2024[8] Assets and Liabilities - Total assets as of November 30, 2024, were $31.94 million, with total liabilities of $22.36 million[11] - Cash and cash equivalents stood at $164,600 with a working capital surplus of $9,426,608[11] Strategic Initiatives - Company aims to capitalize on new growth opportunities in the Command and Communications segment[9] - Successful completion of recent financing expected to support key initiatives and value creation for shareholders[9] - Company plans to accelerate monetization of partnerships within its Big Data Business[9]
FingerMotion Reports Q3 2025 Financial Results
Newsfile· 2025-01-15 14:00
Core Viewpoint - FingerMotion, Inc. reported a 39% increase in revenue for Q3 2025, driven by growth in its Telecommunications Products and Services division, and is positioned to capitalize on new growth opportunities in the Command and Communications segment and Big Data Business partnerships [2][5]. Financial Performance - Quarterly revenue reached $8.53 million, an increase of $2.39 million or 39% compared to Q3 of fiscal 2024 [5]. - Revenue from Telecommunications Products and Services increased by $2.36 million or 39% compared to Q3 of fiscal 2024 [5]. - SMS and MMS business revenue was reported at $44,457, up from $7,900 in Q3 of fiscal 2024 [5]. - Big Data revenue was reported at $0, down from $5,584 in Q3 of fiscal 2024 [5]. - Cost of revenue increased by $2.59 million or 47% compared to Q3 of fiscal 2024, totaling $8.09 million [5]. - Gross profit was $0.44 million, a decrease of $0.19 million or 30% compared to Q3 of fiscal 2024 [5]. - The company reported a quarterly loss of $1.66 million, a decrease of $0.28 million or 15% compared to Q3 of fiscal 2024 [5]. - Basic and diluted loss per share improved to $0.03 from a loss of $0.04 in Q3 of fiscal 2024 [5]. Operational Insights - General and administrative expenses decreased by $676,566 or 30% during Q3 2025, while marketing costs increased by $99,515 or 243% [5]. - Share compensation expenses rose by $71,071 or 66% [5]. - As of November 30, 2024, the company had $164,600 in cash and cash equivalents, a working capital surplus of $9,426,608, and shareholders' equity of $9,583,495 [5]. - Total assets were reported at $31.94 million, with total current liabilities at $22.32 million and total liabilities at $22.36 million [5]. - The company had 53,807,850 shares of common stock issued and outstanding as of November 30, 2024 [5]. Company Overview - FingerMotion is a technology company specializing in mobile payment and recharge platform solutions in China, aiming to grow its user base organically and develop a highly engaged ecosystem [3]. - The company envisions serving over 1 billion users in the China market and expanding its model to other regional markets [3].