Beijing, April 22, 2025 — WiMi Turned an Annual Loss into a Significant Profit, with Cash Reserves Reaching a Record High

BEIJING, April 22, 2025/ – WiMi Hologram Cloud Inc. (Nasdaq: WIMI) (“WiMi” or the “Company”), a prominent provider of hologram augmented reality (“AR”) technology, announced today the filing of its annual report on Form 20-F with the Securities and Exchange Commission (the “SEC”) for the fiscal year concluding on December 31, 2024.

The company announced a substantial operational improvement, shifting from a net loss of approximately RMB 510.4 million in 2023 to a net profit of about RMB 103.3 million (USD 14.4 million) in 2024. This notable change underscores the company’s successful operational strategies and effective management.

Furthermore, the company experienced a considerable increase in its cash, cash equivalents, and short-term investments, strengthening its financial stability. These assets grew by roughly RMB 1.14 billion, or 148.0%, from about RMB 773.9 million for the year ending December 31, 2023, to approximately RMB 1.92 billion (USD 266.9 million) for the year ending December 31, 2024. This enhanced financial position enables the company to pursue new growth opportunities, invest in innovative research, and stimulate future business expansion. 

The information provided in this press release is not exhaustive and is subject to the complete details found in the Company’s annual report on Form 20-F. The annual report, including the Company’s audited consolidated financial statements, is available on the SEC’s website at http://www.sec.gov and on the Company’s investor relations website at http://ir.wimiar.com/.

Upon request, the Company will provide shareholders with a complimentary copy of its annual report containing the audited consolidated financial statements. Requests should be sent to the Investor Relations Department, Room#1508, 4th Building, Zhubang 2000 Business Center, No. 97, Balizhuang Xili, Chaoyang District, Beijing, People’s Republic of China.

About WIMI Hologram Cloud Inc.

WiMi Hologram Cloud Inc. (NASDAQ: WIMI), which began commercial operations in 2015, is a comprehensive holographic cloud technology solution provider specializing in areas such as holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductors, holographic cloud software, and holographic car navigation. Its services and holographic AR technologies encompass holographic AR automotive applications, 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. Additional details are available at http://ir.wimiar.com.

Safe Harbor / Forward-Looking Statement

This press release includes “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements can be identified by terms like “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. Statements that do not relate to historical facts, including those concerning the Company’s beliefs and expectations, are forward-looking statements. Among other items, the business outlook and management quotations in this release, as well as the Company’s strategic and operational plans, constitute forward-looking statements. The Company may also issue written or oral forward-looking statements in its periodic reports to the U.S. 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 by its officers, directors, or employees to third parties. Forward-looking statements are subject to inherent risks and uncertainties. Several factors could cause actual results to differ materially from those in any forward-looking statement, including but not limited to: the Company’s objectives and strategies; the Company’s future business development, financial health, and operational results; the anticipated growth of the AR holographic industry; and the Company’s expectations regarding the demand for and market acceptance of its products and services. Further information on these and other risks is available in the Company’s annual report on Form 20-F and current report on Form 6-K, along with other documents filed with the SEC. All information in this press release is current as of its date, and the Company undertakes no obligation to update any forward-looking statement, except as required by applicable laws.

Contacts

WIMI Hologram Cloud Inc.
Email: pr@wimiar.com

ICR, LLC
Robin Yang
Tel: +1 (646) 975-9495
Email: wimi@icrinc.com

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