WiMi Hologram Cloud Inc (WIMI)

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6-K / WiMi Files Its Annual Report on Form 20-F.

Source
https://docoh.com/filing/1770088/0001213900-22-027344/WIMI-6K/file/2

BEIJING, May 16, 2022

WiMi Hologram Cloud Inc. (WIMI), a leading hologram augmented reality (“AR”) technology provider, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the Securities and Exchange Commission (the “SEC”).

The Company reported that its revenues increased by approximately RMB 167.8 million, or 21.9%, from approximately RMB 766.0 million for the year ended December 31, 2020 to approximately RMB 933.8 million (USD 146.5 million) for the year ended December 31, 2021. The Company’s revenues consist of AR advertising services revenues, AR entertainment revenues and semiconductor business revenues.

The Company believes that a core element of the competitiveness of the holographic AR industry is research and development of technologies. The advancement of technology related to holographic AR will take the holographic AR experience, new services, products and capabilities, to newer stages of development.

Research and development expenses of the Company increased by approximately RMB 70.6 million, or 83.1%, from approximately RMB 85.0 million for the year ended December 31, 2020 to approximately RMB 155.6 million (USD 24.4 million) for the year ended December 31, 2021. The current research and development efforts of the Company are primarily focused on the research and development of the applications of holographic AR technologies in the areas of semiconductor, cloud computing, artificial intelligence, big data, 5G and other areas in order to maintain its competitive advantages in the AR holographic industry.

With the increasing awareness and acceptance of holographic AR technology, the Company expects that more applications will be identified to magnify the value of this technology.

The information disclosed in this press release does not purport to be complete and is qualified in its entirety by reference to the Company’s annual report on Form 20-F. The annual report, which contains the Company’s audited consolidate statements, can be accessed on the SEC’s website at http://www.sec.gov and on the Company’s investor relations website at http://ir.wimiar.com/.

The Company will provide a copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to Investor Relations Department, Room#2002, Building A, Wentley Center, 1st West Dawang Road, Chaoyang District, Beijing, 100020, People’s Republic of China.

About WIMI Hologram Cloud Inc.
WiMi Hologram Cloud Inc. (NASDAQ: WIMI), whose commercial operations began in 2015, 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.
For more information, please visit:
http://ir.wimiar.com.
Contacts
WIMI Hologram Cloud Inc.
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ICR, LLC
Robin Yang
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Email: [e-mail]