New York, New York–(Newsfile Corp. – August 20, 2020) – FingerMotion, Inc. (OTCQB: FNGR) (the “Company” or “FingerMotion“), a mobile services and data company, is pleased to announce recent and continued expansion of its Portal Sales & Marketing Management business through its contractually controlled company, Shanghai JiuGe Information Technology Co., Ltd. (“JiuGe“), in cooperation with China Mobile Limited, the leading mobile telecommunications carrier in China.
Specifically, JiuGe has been awarded Portal Sales Cooperation Agreements covering two additional China Mobile online portals which service the Chifeng and Henan Provinces in China. The agreements call for JiuGe to jointly build and manage China Mobile’s leading online stores which are located on the Tmall.com portal.
Over the course of the past year, JiuGe has demonstrated its ability to successfully execute its digital marketing and online promotion by marketing phones, phone plans, data, and SIM cards to both Chifeng City, located in Inner Mongolia with a population of 4.3 million people (source: Wikipedia), and Henan Province, which represents the 5th largest economy within China and has a population of 100 million people (source: Wikipedia). Unlike the United States, where one carrier has a nationwide portal, the telecom portals in China are regionalized to compensate for population considerations, thereby avoiding overwhelming network loads on the portals. For a U.S. comparison, such would be equivalent to having AT&T host its primary store on the Amazon.com portal.
“The two additional portal contracts awarded to JiuGe represents a further deepening and growth of our strategic relationship with China Mobile. The areas we expect to see the most synergies are in an upgraded product layout, growing market share, and brand awareness. Our shareholders should take note that these two agreements are a testament to the continued dedication and commitment from our JiuGe team and we look forward to sharing even more developments in the near future,” said CEO, Martin Shen.
About Tmall Portal
Tmall is considered a China Retail Marketplace under various subsidiaries of Alibaba Group Holding Limited (NYSE: BABA) and is the world’s largest third-party online and mobile commerce platform for brands and retailers, with a Gross Merchandise Value (GMV) of 3.2 billion Yuan in fiscal 2020. Tmall Global allows overseas brands and retailers to reach Chinese consumers and is the largest import e-commerce platform in China (based on GMV in the twelve months ended March 31, 2020, according to Analysis, a research institution). As of March 31, 2020, there were over 250,000 brands and merchants on Tmall, including 80% of the consumer brands among the Forbes Top 100 World’s Most Valuable Brands for 2019. Tmall encourages its merchants to make product quality a priority and has established various safeguard mechanisms and requires merchants to make a significant deposit (ranges from RMB 10,000 to RMB 1,000,000 per storefront). Tmall is committed to protecting intellectual property rights and eliminating counterfeit merchandise and fictitious activities. (The foregoing information on Tmall was obtained from the Form 20-F for Alibaba Group Holding Limited for the fiscal year ended March 31, 2020, filed with the SEC on July 9, 2020, at pages 8, 71, 94 and 95.)
About China Mobile Limited
As a pioneer and market leader in the world’s largest mobile market, China Mobile aims to maintain its leading position in 4G development and lead the commercialization of 5G technologies. As of March 31, 2020, China Mobile had approximately 946 million mobile customers, including approximately 752 million 4G customers and approximately 32 million 5G package customers. China Mobile’s revenue from telecommunications services alone was 674 billion RMB as of December 31, 2019. (The foregoing information on China Mobile was obtained from the Form 20-F for China Mobile Limited for the fiscal year ended December 31, 2019, filed with the SEC on April 28, 2020, at pages 25, 26 and 50.) In addition, as at the end of May 2020, China Mobile had 55.6 million 5G customers (source: RCRWirelessNews Intelligence on All Things Wireless article dated June 23, 2020 by Joan Pedro Tomás).
About Shanghai JiuGe Information Technology
Shanghai JiuGe Information Technology Co., Ltd. is an internet technology innovation enterprise, adhering to the development concepts of “innovation, pragmatic, integrity.” JiuGe is committed, through sound technology solutions and high-quality market resources, to providing customers with professional online marketing and information data services, to help clients achieve business success.
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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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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