Item
7.01 Regulation FD Disclosure
On May 12, 2023, FingerMotion, Inc. (the “Company” or “FingerMotion”)
issued a news release to announce that it has entered into a cooperation agreement between Migu Video Technology Co., Ltd. (“Migu
Video”) and FingerMotion, Inc.’s contractually controlled subsidiary, Shanghai JiuGe Information Technology Co., Ltd., to
start in-depth collaboration on overseas hardware and terminal business.
Migu Video is a wholly-owned subsidiary of China Mobile's Migu Culture
Technology Co., Ltd. which is the sole streaming content producer of Migu Culture in the video field. It is regarded as the first to establish
a Multi-channel network (“MCN”) in China. Overseas growth is an essential element of the MCN of Migu Video. Another key element
is the research and development of international standards that highlight Chinese culture and art. The final element is the establishment
of an international video sharing platform. Through this cooperation agreement the Company seeks to collaborate with Migu Video to develop
a solution to fully combine the Company’s innovative product research & development capabilities and resource integration capabilities
in order to expand into the international streaming market with Migu Video.
This cooperation agreement sets the stage for FingerMotion to build synergies
in the development of an international streaming content aggregator and highlight FingerMotion’s brand differentiation advantages
in international markets.
This cooperation agreement will help FingerMotion implement its strategic
plan of "domestic precision and overseas extension" in 2023. The initial focus will be on Migu Video, ensuring that its entire
network of users, which currently exceeds 100 million (according to the TongbiCapital article published on March 23, 2023: https://tongbicapital.com/news/detail?_id=641cf65c3e0a126c88703834),
can see the optionality and customizable options of Migu Video.
In a subsequent phase of the collaboration with Migu Video, the two parties
plan to focus on establishing a sales organization, product optimization, and portal upgrade in expectation of bringing more innovative
services to customers while continuously improving the social value of the overseas hardware and terminal business. Within the next two
years, the Company and Migu Video anticipate that they will serve more than 10 million overseas users and more than 10 overseas countries,
and the Company intends to gradually expand its own sub-brands with overseas hardware and terminal as a core line of business.
About
Migu Video
Migu Video is a subsidiary
of Migu Culture Technology Co., Ltd. (referred to as "Migu Company") is an integrated professional subsidiary established by
China Mobile for the mobile Internet field and is responsible for product provision, operation and service in the field of digital content.
It is China Mobile's music, video, reading, games, and animation digital business segments, with five subsidiaries including Migu Music,
Migu Video, Migu Digital Media, Migu Interactive Entertainment, and Migu Animation. At present, Migu Company has become a leading
full-scene brand immersion platform in China, bringing together more than 35 million+ songs, 4.6 million videos, 600,000+ books, 1,100+
games, and 750,000 episodes of animation and comics. Facing the future, Migu plans to vigorously explore the operation innovation
of "Internet + digital content", combine content incubation with channel cooperation, focus on cross-field IP operations, and
actively create four new media integration, digital content aggregation, copyright transactions, and content entrepreneurship and innovation.
A large platform dedicated to bringing changes in entertainment lifestyles to users.
A copy of the news release is attached as Exhibit 99.1 hereto.