Dover News Now

Made Profits of 160 million yuan in Two Years, WiMi Hologram Cloud Listed IPO on NASDAQ

 Breaking News
  • No posts were found

Made Profits of 160 million yuan in Two Years, WiMi Hologram Cloud Listed IPO on NASDAQ

July 20
00:36 2019

 

At the beginning of the year, the news that the first share of AR hologram – WiMi Hologram Cloud (WIMI.US) would list the IPO was circulated in the market. Today, the news was finally been confirmed. According to Zhitongcaijing APP, the prospectus has been launched on the SEC official website on June 27. According to the data, WiMi Hologram Cloud plans to be listed on NASDAQ and is initially expected to raise 50 million US dollars.

22-1

With the approach of 5G commercialization, the holographic communication industry is about to erupt. As the holographic AR integrated solution service provider, WiMi Hologram Cloud ranks first in China in terms of revenue, number of customers, number of patents, number of content and number of software copyrights. The company has achieved profitability and its net profit in 2017 and 2018 exceeded 160 million yuan.

The net profit in 2018 exceeds 89 million yuan, making profits for two consecutive years. The net profit in the first quarter of 2019 grew by 68% year-on-year, and the room for profit growth has opened. With the development of 5G holographic communication, WiMi Hologram Cloud, which was established only four years ago, is expected to erupt in the future. (* Source: U.S. SEC – FORM F-1, WiMi Hologram Cloud Inc., Securities and Exchange Commission (SEC), June 27, 2019.)

WiMi Hologram Cloud plans to continue improving and strengthening existing technologies, maintain the leading position in the industry and create an ecological business model. At present, WiMi Hologram Cloud’s holographic facial recognition technology and holographic face changing technology are being applied to the existing holographic advertising and entertainment business of WiMi Hologram Cloud, and the technology is also being upgraded in order to make breakthroughs in more industry fields. WiMi Hologram Cloud aims at building a commercial ecosystem based on holographic technology application.

WiMi Hologram Cloud plans to continue investing a lot of resources to strengthen its capability to develop the holographic AR contents. WiMi Hologram Cloud is committed to enriching its holographic content portfolio and providing high-quality holographic experience for customers and end users. WiMi Hologram Cloud plans to continue to expand the holographic content library in a variety of ways.

Although WiMi Hologram Cloud is focused on organic business growth, WiMi Hologram Cloud can evaluate and selectively seek strategic alliances, investments and acquisitions to complete and supplement the existing business and operation of WiMi Hologram Cloud. WiMi Hologram Cloud will continue to selectively acquire complementary businesses to expand its holographic content production capacity. Potential acquisitions should also target companies with strong software engineering, middleware development capabilities and leading patent holographic technologies.

WiMi Hologram Cloud has a wide range of customers. As of December 31, 2017 and December 31, 2018, WiMi Hologram Cloud had 390 and 485 customers. At present, WiMi Hologram Cloud’s customers mainly include advertisers, distributors, application developers and entertainment companies. WiMi Hologram Cloud’s customer base covers a wide range of industries, including manufacturing, real estate, entertainment, technology, media and telecommunications, tourism, education and retail industry.

* Source: U.S. SEC – FORM F-1, WiMi Hologram Cloud Inc., Securities and Exchange Commission (SEC), June 27, 2019.

Media Contact
Company Name: BJ Overseas News
Contact Person: Tim Wong
Email: Send Email
Country: China
Website: https://beijingnews.kinja.com/news-1836517432