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OurPalm invests $30 million into loss-making subsidiary FingerFun

OurPalm invests $30 million into loss-making subsidiary FingerFun

Chinese publisher OurPalm (SHE:300315) last hit the headlines with the rumour it was going to invest in Unity.

That doesn't appear to have happened, but the news it's investing into its Hong Kong-based mobile gaming subsidiary FingerFun will be more certain.

Owned through OurPalm's subsidiary holding company Beijing Jiuhao (G9) Technology - Chinese corporate structure is nothing if not complex - OurPalm says that the $30 million investment into FingerFun will be used to improve its capital resources and to develop its overseas business.

Restructuring 

According to Marbridge Consulting, FingerFun isn't a large concern and is currently loss-making.

It says the company had 2013 sales worth around $1.4 million and profits of $1.2 million but during the first eight months of 2014 this had fallen to sales of $450,000 and a loss of $300,000.

[source: Marbridge Consulting]


Contributing Editor

A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.

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