WiMi Hologram Cloud Inc. Stock Price, News & Analysis

WiMi Hologram Cloud Inc. (Nasdaq: WIMI) announced the launch of its new VR headset, the WiMi HoloVR, aimed at enhancing user experiences in the Metaverse. This innovative device features dual-camera technology for a 105-degree field of view, gesture recognition, and a Snapdragon XR2 processor. The HoloVR boasts a 4K display resolution and supports multiple applications, including gaming and virtual social interactions. In the first half of 2021, WiMi reported significant growth with a 202.2% increase in operating revenue and a 40.3% rise in net profit, reflecting its commitment to R&D in AR and VR technologies.

On November 17, 2021, WiMi Hologram Cloud Inc. (Nasdaq: WIMI) announced its investment in BlueCloud Industrial Interconnection Technology to develop a virtual digital platform for smart sports. This partnership aims to advance innovative research and integrate intelligent manufacturing technologies. WiMi reported substantial growth in 2021, with a 202.2% rise in revenue and a 40.3% increase in net profit year-on-year. The company's R&D expenses surged by 463.6%, emphasizing its commitment to maintaining a competitive edge in the Metaverse and holographic AR industries.

WiMi Hologram Cloud Inc. (Nasdaq: WIMI) announced that its 3D holographic pulsed lidar product, the WiMi HoloPulse LiDAR, received approval from the Federal Communications Commission to enter the U.S. market. This multi-function sensor can detect objects over 200 meters away and generate high-resolution 3D holograms. The company reported a significant revenue increase of 202.2% year-on-year in the first half of 2021, alongside a gross profit rise of 189.8% and net profit growth of 40.3%. WiMi plans to expand its product offerings and market share, leveraging its R&D investment in the burgeoning Metaverse market.

WiMi Hologram Cloud (Nasdaq: WIMI) announced the submission of a trademark application for "WIMI METAVERSE" to enhance its intellectual property and strengthen its competitive edge in the growing Metaverse industry. The trademark covers various categories, including advertising, education, and entertainment. The company possesses extensive holographic IP rights and has developed products like the WiMi Hologram SoftLight and WiMi HoloAR Lens. In H1 2021, WiMi reported a 202.2% revenue increase, with R&D expenses rising 463.6% to maintain its market leadership.

WiMi Hologram Cloud Inc. (Nasdaq: WIMI) reported impressive financial results for the six months ended June 30, 2021. Total revenue surged by 202.2% to RMB516.2 million (US $79.9 million), while gross profit rose 189.8% to RMB153.1 million (US $23.7 million). Net income also increased by 40.3% to RMB32.1 million (US $5 million). Notably, R&D expenses spiked 463.6% to RMB86.1 million (US $13.3 million), reflecting significant investment in technology development. The company anticipates continued strong growth driven by demand in the holographic AR market.

WIMI Hologram Cloud (Nasdaq: WIMI) announced the launch of its new augmented reality head-mounted display, the WiMi HoloAR Lens, designed to enhance user experience in the Metaverse. This product features a unique split design compatible with dual-camera 6dof technology, offering a wider viewing angle of 63 degrees and high-definition display capabilities. Weighing only 78g, it is suitable for various uses such as virtual social networking, entertainment, and education. With recent revenue growth of 140%, WIMI aims to capture the expanding Metaverse market through enhanced product offerings.

WIMI Hologram Cloud (NASDAQ: WIMI) has launched its "Holographic Metaverse Division" to develop essential holographic technology for the Metaverse. This division will enhance both hardware and software capabilities, featuring integrated holographic AR content for various applications. Key advancements include the rollout of the "WIMI Hologram SoftLight" XR head-mounted display, which is now approved for the US market. With a portfolio boasting over 4,600 holographic IP rights, WIMI aims to leverage exponential growth in the holographic cloud industry fueled by the expanding Metaverse.

WiMi Hologram Cloud, Inc. (NASDAQ: WIMI) announced a merger with VIYI Algorithm Inc. and Venus Acquisition Corporation. The merger, structured as a stock-for-stock transaction, values VIYI Algo at $400 million. Upon closing, Venus will be renamed MicroAlgo Inc. The merger aims to enhance operational efficiency by integrating bespoke central processing algorithms into various services, targeting sectors such as internet advertising and gaming.

Completion is expected by Q3 2021, subject to shareholder approval and SEC review.