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OurPalm invests $30 million into loss-making subsidiary FingerFun

Moving money around
OurPalm invests $30 million into loss-making subsidiary FingerFun
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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]