{"id":541005,"date":"2021-09-22T08:34:25","date_gmt":"2021-09-22T12:34:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/"},"modified":"2021-09-22T08:34:25","modified_gmt":"2021-09-22T12:34:25","slug":"wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/","title":{"rendered":"WiMi Hologram Cloud Inc. reports increased revenue by 202.2% and gross profit by 189.8% in the first half of 2021"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">BEIJING<\/span>, <span class=\"xn-chron\">Sept. 22, 2021<\/span> \/PRNewswire\/ &#8212; WiMi Hologram Cloud Inc. (Nasdaq: WIMI) (&#8220;WiMi&#8221; or the &#8220;Company&#8221;), a leading global\u00a0application solution provider of holographic augmented reality (&#8220;AR&#8221;) comprehensive technology, today announced its unaudited financial results for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>.<\/p>\n<p>\n        <b>Financial Highlights for the Six Months Ended <span class=\"xn-chron\">June 30, 2021<\/span><\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Total revenue increased 202.2% to <span class=\"xn-money\">RMB516.2 million<\/span> (US <span class=\"xn-money\">$79.9 million<\/span>) for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">RMB170.8 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>Gross profit increased 189.8% to <span class=\"xn-money\">RMB153.1 million<\/span> (US <span class=\"xn-money\">$23.7 million<\/span>) for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">RMB52.8 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>R&amp;D expenses increased 463.6% to <span class=\"xn-money\">RMB 86.1 million<\/span> (<span class=\"xn-money\">US$13.3 million<\/span>) for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>. <\/li>\n<li>Net income increased 40.3% to <span class=\"xn-money\">RMB32.1 million<\/span> (US <span class=\"xn-money\">$5 million<\/span>)for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, compared to <span class=\"xn-money\">RMB22.9 million<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>.<\/li>\n<\/ul>\n<p>\n        <span class=\"xn-person\">Shuo Shi<\/span>, the Founder and Chief Executive Officer of the Company said, &#8220;We believe that the demand for 3D vision in holographic AR applications is growing rapidly, which reflects the huge market potential of holographic AR business. We started to develop smart chips and provide software solutions in <span class=\"xn-chron\">September 2020<\/span>. For the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, approximately 53.1% of our revenue came from semiconductor business. In addition, thanks to the accumulation of our industry experience, driven by the development of holographic technology and the growing market demand for\u00a0 holographic 3D visual solutions, our holographic augmented reality (AR) business has also experienced rapid growth in the six months ended <span class=\"xn-chron\">June 30,2021<\/span>, our holographic augmented reality business customers has increased from 175 to 298. For the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, our overall operating revenue increased approximately 202.2% over the same period in 2020, our gross profit increased by 189.8% year-on-year, and our R&amp;D expenses increased by 463.6% year-on-year. We increase R&amp;D investment and improve the holographic AR technology capabilities\u00a0 rapidly, in order to maintain the company&#8217;s leading competitive edge in the AR holographic industry. Looking ahead to 2021, driven by the metaverse and holographic AR industries, we believe that the performance will continue to grow at a high speed.&#8221;<\/p>\n<p>About WIMI Hologram Cloud<\/p>\n<p>WIMI Hologram Cloud, Inc.(NASDAQ: WIMI) was founded in 2015, which 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,\u00a0holographic semiconductor, holographic cloud software, holographic car navigation,\u00a0metaverse holographic AR and VR equipment,\u00a0metaverse holographic cloud software 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 virtual communication,\u00a0metaverse holographic AR technology, metaverse virtual cloud service,\u00a0and other holographic AR technologies.<\/p>\n<p>Safe Harbor Statements<\/p>\n<p>This press release contains &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology\u00a0such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates&#8221; and similar statements. Statements that are not historical facts, including statements about the Company&#8217;s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release, as well as the Company&#8217;s strategic and operational plans, contain forward\u2212looking statements. The Company may also make written or oral forward\u2212looking statements in its periodic reports to the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) on Forms 20\u2212F and 6\u2212K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward\u2212looking statement, including but not limited to the following: the Company&#8217;s goals and strategies; the Company&#8217;s future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company&#8217;s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company&#8217;s annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN15359&amp;sd=2021-09-22\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021--301382543.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021&#8211;301382543.html<\/a><\/p>\n<p>SOURCE  WiMi Hologram Cloud Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CN15359&amp;Transmission_Id=202109220830PR_NEWS_USPR_____CN15359&amp;DateId=20210922\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire BEIJING, Sept. 22, 2021 \/PRNewswire\/ &#8212; WiMi Hologram Cloud Inc. (Nasdaq: WIMI) (&#8220;WiMi&#8221; or the &#8220;Company&#8221;), a leading global\u00a0application solution provider of holographic augmented reality (&#8220;AR&#8221;) comprehensive technology, today announced its unaudited financial results for the six months ended June 30, 2021. Financial Highlights for the Six Months Ended June 30, 2021 Total revenue increased 202.2% to RMB516.2 million (US $79.9 million) for the six months ended June 30, 2021, compared to RMB170.8 million for the six months ended June 30, 2020. Gross profit increased 189.8% to RMB153.1 million (US $23.7 million) for the six months ended June 30, 2021, compared to RMB52.8 million for the six months ended June 30, 2020. R&amp;D expenses increased 463.6% to RMB &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;WiMi Hologram Cloud Inc. reports increased revenue by 202.2% and gross profit by 189.8% in the first half of 2021&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-541005","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WiMi Hologram Cloud Inc. reports increased revenue by 202.2% and gross profit by 189.8% in the first half of 2021 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WiMi Hologram Cloud Inc. reports increased revenue by 202.2% and gross profit by 189.8% in the first half of 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BEIJING, Sept. 22, 2021 \/PRNewswire\/ &#8212; WiMi Hologram Cloud Inc. (Nasdaq: WIMI) (&#8220;WiMi&#8221; or the &#8220;Company&#8221;), a leading global\u00a0application solution provider of holographic augmented reality (&#8220;AR&#8221;) comprehensive technology, today announced its unaudited financial results for the six months ended June 30, 2021. Financial Highlights for the Six Months Ended June 30, 2021 Total revenue increased 202.2% to RMB516.2 million (US $79.9 million) for the six months ended June 30, 2021, compared to RMB170.8 million for the six months ended June 30, 2020. Gross profit increased 189.8% to RMB153.1 million (US $23.7 million) for the six months ended June 30, 2021, compared to RMB52.8 million for the six months ended June 30, 2020. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/","og_locale":"en_US","og_type":"article","og_title":"WiMi Hologram Cloud Inc. reports increased revenue by 202.2% and gross profit by 189.8% in the first half of 2021 - Market Newsdesk","og_description":"PR Newswire BEIJING, Sept. 22, 2021 \/PRNewswire\/ &#8212; WiMi Hologram Cloud Inc. (Nasdaq: WIMI) (&#8220;WiMi&#8221; or the &#8220;Company&#8221;), a leading global\u00a0application solution provider of holographic augmented reality (&#8220;AR&#8221;) comprehensive technology, today announced its unaudited financial results for the six months ended June 30, 2021. Financial Highlights for the Six Months Ended June 30, 2021 Total revenue increased 202.2% to RMB516.2 million (US $79.9 million) for the six months ended June 30, 2021, compared to RMB170.8 million for the six months ended June 30, 2020. Gross profit increased 189.8% to RMB153.1 million (US $23.7 million) for the six months ended June 30, 2021, compared to RMB52.8 million for the six months ended June 30, 2020. R&amp;D expenses increased 463.6% to RMB &hellip; Continue reading \"WiMi Hologram Cloud Inc. reports increased revenue by 202.2% and gross profit by 189.8% in the first half of 2021\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/","og_site_name":"Market Newsdesk","article_published_time":"2021-09-22T12:34:25+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN15359&amp;sd=2021-09-22","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"WiMi Hologram Cloud Inc. reports increased revenue by 202.2% and gross profit by 189.8% in the first half of 2021","datePublished":"2021-09-22T12:34:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/"},"wordCount":766,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN15359&amp;sd=2021-09-22","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/wimi-hologram-cloud-inc-reports-increased-revenue-by-202-2-and-gross-profit-by-189-8-in-the-first-half-of-2021\/","name":"WiMi Hologram Cloud Inc. reports increased revenue by 202.2% and gross profit by 189.8% in the first half of 2021 - 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