NEW YORK, NY / ACCESSWIRE / July 16, 2019 / According to media report, WiMi Hologram Cloud’s listing that was repeatedly reported but refused to be acknowledged is finally confirmed. WiMi Hologram Cloud puts itself on overseas market for listing. The news that WiMi Hologram Cloud will list the IPO in July has finally progressed again.
WiMi Hologram Cloud’s holographic cloud published its IPO prospectus globally on June 27, 2019 in the United States. Its net profits exceeded 89 million yuan in 2018, making profits for two consecutive years. In the first quarter of 2019, the net profit increased by 68%, and the profit growth space has been opened. With the development of 5G holographic communication, WiMi Hologram Cloud’s holographic cloud, which was established only four years ago, is expected to be explosive in the future.
According to the prospectus, the net profit of WiMi Hologram Cloud increased from 73.33 billion yuan in 2017 to 89.21 billion yuan in 2018. The total revenue increased from 492,262,626 yuan in the first quarter of 2018 to 78.492,282 yuan in the first quarter of 2019, with an increase of 29,265,656 yuan, and the growing rate of 59.5%. The net profit increased from 22,226,934 yuan for the three months ended March 31, 2018 to 37,493,792 yuan for the three month ended March 31, 2019, with an increase of 15,266,858 yuan and the growing rate of 68.7%. The total revenue of WiMi Hologram Cloud increased from 192,029,524 yuan in 2017 to 225,271,564 yuan in 2018. (* Source: U.S. SEC – FORM F-1, WiMi Hologram Cloud Inc., Securities and Exchange Commission (SEC), June 27, 2019.)
According to the reports of Unicorns Had Known Earlier, WiMi Hologram Cloud integrates the identity of holographic AI cloud software developers, service providers and operators, and has become one of the largest integrated platform in the holographic AI field in the country. if there is no chip, it is difficult to combine with the algorithm. In this process, the boundary is blurred. With the continuous evolution of technology, the constant deepening of the scene raises more needs. At this stage, an important scene will be selected for the Internet of Things to better combine computing power with application services.
(Source: Unicorns Had Known Earlier)
WiMi Hologram Cloud covers multiple links of holographic AR technologies such as holographic computer vision AI synthesis, holographic vision presentation, holographic interactive software development, holographic AR online and offline advertising launch, holographic ARSDK payment, 5G holographic communication software development, holographic face recognition development, and holographic AI face change development. It has the one-stop service capacity. At present, it has grown into one of the largest integrated technology provider of holographic cloud in China.
Although WiMi Hologram Cloud focuses on the organic business growth, WiMi Hologram Cloud can evaluate and selectively seek strategic alliance, investment and acquisition opportunities to complement and expand the existing business and operation of WiMi Hologram Cloud, just as what it did in China in the past. WiMi Hologram Cloud will continue to selectively acquire the supplementary services to expand the production capacity of holographic content of WiMi Hologram Cloud. The potential acquisition targets should also target companies with strong software engineering and middleware development capabilities as well as leading proprietary holographic technologies.
* Source: U.S. SEC – FORM F-1, WiMi Hologram Cloud Inc., Securities and Exchange Commission (SEC), June 27, 2019.
Name: Tim Wong
Organization: BJ Overseas News
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