FingerMotion launches emergency response tech in China

SINGAPORE - FingerMotion, Inc. (NASDAQ:FNGR), a mobile services and data company, has revealed the launch of a new crisis and emergency response technology through its subsidiary, Shanghai JuiGe Information Technology Co., Ltd. ("JiuGe Technology").

The Advanced Mobile Integrated Command and Communication Platform (C2 Platform) is designed to improve the coordination and communication of emergency response teams in China.

JiuGe Technology's C2 Platform will be integrated into vehicles and apparatuses as part of China's civil emergency crisis program. The technology aims to unify disaster communication systems, including emergency vehicles, satellites, and drones, into a single interface to facilitate better decision-making during crises.

The C2 Platform will be first installed in Mobile Command and Communication Vehicles developed in collaboration with SAIC Motor Corp., Ltd. These vehicles will be equipped with advanced communication systems that provide real-time data transfer between incident sites and emergency response centers.

The initiative comes as part of the People's Republic of China's nationwide effort to enhance disaster response capabilities. The first contract for the new technology has been signed with Zhejiang province for two vehicles, and there is an expected increase in demand for both the C2 Platform and the vehicles.

Martin Shen, CEO of FingerMotion, stated, "We are thrilled to introduce these innovative solutions tailored specifically for emergency response scenarios as part of our efforts to support the nationwide initiative to enhance disaster response capabilities."

The company anticipates steady demand for its C2 Platform and vehicles in the coming years due to this initiative. This development represents a significant step in FingerMotion's expansion of its technology products and services within and outside China.

FingerMotion is primarily known for its mobile payment and recharge platform solutions in China and is actively developing additional technologies to market to its user base. The company's vision includes growing its user base organically and creating an ecosystem of highly engaged users.

The information in this article is based on a press release statement from FingerMotion, Inc.

InvestingPro Insights

As FingerMotion, Inc. (NASDAQ:FNGR) embarks on its innovative journey with the Advanced Mobile Integrated Command and Communication Platform (C2 Platform), crucial financial metrics and analyst insights from InvestingPro provide a broader picture of the company's current market standing. FingerMotion's strategic move to enhance China's disaster response capabilities may be timely, given the company's financial health and market performance.

InvestingPro Data highlights FingerMotion's market capitalization at $104.37 million, which is indicative of its size and potential influence within the technology sector. Despite its innovative strides, the company faces challenges, as seen by its negative P/E ratio of -25.16 for the last twelve months as of Q1 2023, reflecting investor concerns about its profitability. Additionally, the company's Price / Book ratio stands at 9.53, suggesting that the stock is trading at a premium relative to its book value.

InvestingPro Tips reveal that analysts are forecasting sales growth for FingerMotion in the current year, which could signal a positive outlook for the company's revenue trajectory. Moreover, the company holds more cash than debt on its balance sheet, providing it with a stable financial footing to manage and invest in projects like the C2 Platform. This liquidity position is further strengthened as the firm's liquid assets surpass its short-term obligations, offering flexibility to navigate market conditions.

Still, investors should be aware of the challenges FingerMotion faces. The company has not been profitable over the last twelve months, and its stock has experienced significant declines over various periods, including a 56.48% drop in the one-year price total return. These factors underscore the importance of conducting thorough research and considering both the potential and risks associated with investing in FingerMotion.

For those interested in a deeper dive into FingerMotion's financials and future prospects, InvestingPro offers additional insights. There are 11 more InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/FNGR. To benefit from these expert analyses, users can utilize the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.

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