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NEW YORK, NY / ACCESSWIRE / October 25, 2021 / FingerMotion, Inc. ("FingerMotion" or the "Company") (OTCQX:FNGR), a mobile data and services company, is pleased to announce that its subsidiary Shanghai JiuGe Information Technology Co., Ltd. ("JiuGe") has trademarked two new brands, "Ji Shi Fu" and "Baowo", which are expected to facilitate the underwriting of an innovative device protection program for telecom customers in China. The maintenance services could cover hundreds of stores in more than 10 provinces, and potential products include broken mobile phone screens, accidental damage repairs and compensation, older device trade-in's and other services with the anticipation of gaining new users and opening new revenue channels. JiuGe expects these new brands, with the assistance of a large American insurance company, to be integrated into the Company's China telecom systems in early 2022 to provide these seamless value-added mobile phone products to subscribers.
The Company believes there is a tremendous opportunity that exists in servicing this market based on relevant trends in other foreign markets. Preliminary beta testing will be conducted in the Shanghai, Guangdong, Anjui, Zhejiang, and Henan provinces and cities. More details will be provided when the testing is completed.
"This latest development demonstrates the flexibility of our business model to explore ways to monetize our vast active user base," said Martin Shen, CEO of FingerMotion, Inc. "We are delighted to commence our beta testing on this mobile device protection product later this month and believe this will eventually represent another significant revenue stream."
About FingerMotion, Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. It is one of only a few companies in China with access to wholesale rechargeable minutes from China's largest mobile phone providers that can be resold to consumers. As the user base of its primary business continues to grow, the Company is developing additional 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. FingerMotion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.
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Safe Harbor Statement
This 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 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," "could," "should," "estimate," "expect," "hope," "intend," "may," "plan," "project," "will," 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 in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). 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 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.
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