BEIJING, Oct. 15,
2024 /PRNewswire/ -- WiMi Hologram Cloud Inc.
(NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram
Augmented Reality ("AR") Technology provider, today announced
its unaudited financial results for the six months ended
June 30, 2024.
Financial Highlights for the Six Months Ended June 30, 2024
- Our total revenues increased by approximately RMB 26.1 million, or 10%, from approximately
RMB 264.8 million for the six months
ended June 30, 2023 to approximately
RMB 290.8 million (USD 40.8 million) for the six months ended
June 30, 2024.
- Our AR service revenue increased by approximately RMB 36.0 million, or 14%, from approximately
RMB 254.8 million for the six months
ended June 30, 2023 to approximately
RMB 290.8 million (USD 40.8 million) for six months ended
June 30, 2024.
- Our net income/loss increased from approximately RMB 18.4 million of net loss for the six months
ended June 30, 2023 to approximately
RMB 12.3 million (USD1.7 million) of net income for the six months
ended June 30, 2024.
- As of June 30, 2024, we had cash,
cash equivalents and short-term investment of approximately
RMB 1,162.0 million
(USD 163.0 million), relative to approximately
RMB 773.8
million(USD 108.7 million) December 31, 2023.
Shuo Shi, the Founder and Chief
Executive Officer of the Company said, "The holographic AR
application field is experiencing a rapid growth in demand for 3D
vision, which undoubtedly reveals the huge market opportunity
behind the holographic AR business. Looking back at the first half
of the year, the significant change in the company's performance
was mainly due to the climbing demand for holographic solutions
from our customers, as well as the company's remarkable achievement
in business development in 2024. WiMi has always been
committed to the research, development and application of
holographic technology, and is striving to bring excellent
holographic technology services to our customers around the world.
In the future, we will fully utilize the resources of the public
capital markets to further strengthen our holographic technology
research and development and drive business growth. We firmly
believe that this will help us launch and expand new services,
designs and products to our global customers more rapidly and
efficiently".
About WIMI Hologram Cloud
WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud
comprehensive technical solution provider that focuses on
professional areas including holographic AR automotive HUD
software, 3D holographic pulse LiDAR, head-mounted light field
holographic equipment, holographic semiconductor, holographic cloud
software, holographic car navigation and others. Its services and
holographic AR technologies include holographic AR automotive
application, 3D holographic pulse LiDAR technology, holographic
vision semiconductor technology, holographic software development,
holographic AR advertising technology, holographic AR entertainment
technology, holographic ARSDK payment, interactive holographic
communication and other holographic AR technologies.
Safe Harbor Statements
This press release contains "forward-looking statements" within
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," and similar statements. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements. Among
other things, the business outlook and quotations from management
in this press release and the Company's strategic and operational
plans contain forward−looking statements. The Company may also make
written or oral forward−looking statements in its periodic reports
to the US Securities and Exchange Commission ("SEC") on Forms 20−F
and 6−K, in its annual report to shareholders, in press releases,
and other written materials, and in oral statements made by its
officers, directors or employees to third parties. Forward-looking
statements involve inherent risks and uncertainties. Several
factors could cause actual results to differ materially from those
contained in any forward−looking statement, including but not
limited to the following: the Company's goals and strategies; the
Company's future business development, financial condition, and
results of operations; the expected growth of the AR holographic
industry; and the Company's expectations regarding demand for and
market acceptance of its products and services.
Further information regarding these and other risks is included
in the Company's annual report on Form 20-F and the current report
on Form 6-K and other documents filed with the SEC. All information
provided in this press release is as of the date of this press
release. The Company does not undertake any obligation to update
any forward-looking statement except as required under applicable
laws.
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SOURCE WiMi Hologram Cloud Inc.