- Martin Shen, FingerMotion’s CEO, noted the company’s shift in focus to pushing gross margins higher for the 2022 calendar year
- This has shaped the company’s initiatives that have seen the addition of the mobile device protection service for the Chinese market
- Since launching the service, FingerMotion has received $4 million in funding from Lind Global Fund II, LP, and is confident that this investment will yield the highest return, strengthen the company’s balance sheet, and enable it to experience transformational revenue growth over the next 12-24 months
- Mr. Shen has maintained that the current revenue is just “the tip of the iceberg,” as it banks on the relationships forged with key players in the Chinese market, in addition to benefiting from a first-mover advantage
- Recent developments by the company show its commitment to offering unique services to the market, creating shareholder value, its understanding of the Chinese market, and the competence of its management
Earlier in the year, Martin Shen, the Chief Executive Officer (“CEO”) of FingerMotion (NASDAQ: FNGR), an evolving technology company with a core competency in mobile payment and recharge platform solutions in China, noted that the company would shift its focus for the 2022 calendar year. In addition, he noted that its initiatives would push gross margins higher, mainly building on the momentum gained so far in terms of performance.
“One of our key initiatives is to keep pushing gross margins higher, and we have been quite successful by optimizing our product offerings,” he noted (https://ibn.fm/KXAdd).
FingerMotion previously focused on four company offerings: telecommunications products and services, SMS and MMS services, big data insights, and Rich Communication Services (“RCS”). However, it recently sought to further diversify this list by venturing into China’s mobile device protection business.
Since launching the service, FingerMotion has closed a funding agreement to the tune of $4 million with Lind Global Fund II, LP, an investment fund managed by The Lind Partners, a New York-based institutional fund manager. Mr. Shen is confident that this investment, channeled into the mobile device protection business, will yield the highest capital investment return within the shortest time, indicating that “the company’s highest priority initiative is the full-scale nationwide rollout of its mobile device protection business in China,” allowing the company to “experience transformational revenue growth over the next 12-24 months.” (https://ibn.fm/84oU3).
FingerMotion has, since its inception, never shied away from exploring new territories and trying out new revenue-generating initiatives. Having started with facilitating online payments, the company is set on its goal to serve over a billion users in the Chinese market, eventually expanding its model to other regional markets.
This recent move has shown the company’s commitment to creating shareholder value, its understanding of the Chinese market, and recognition of its potential to be a leader in this market and beyond.
Mr. Shen has even expressed cautious optimism on the company’s performance, noting that the 37% revenue growth during the past year is nothing but sustainable, mainly due to the company’s recent additions, specifically the device protection program. “I think our revenue right now is really just the tip of the iceberg,” Mr. Shen noted (https://ibn.fm/U0mgI).
FingerMotion also banks on the amount of data it has acquired over the years and the relationships it has forged with key players in the Chinese market. In addition, it benefits from a first-mover advantage in consumer data analysis and payment processing within China, factors that set the company apart from other players in the industry. Mr. Shen acknowledges that this is integral to pushing the company’s gross margins higher for the 2022 calendar year.
Shareholders and customers can expect a lot from FingerMotion going forward, and for a good reason. The company has shown commitment to offering unique services in the market and creating an environment where shareholders draw value from every decision made. This speaks to its understanding of the intricacies of the Chinese market and the competence of Mr. Shen’s team, which has been primarily responsible for the company’s success thus far.
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://ibn.fm/FNGR
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