WIMI Was Oversubscribed for $61,840,800 and WB Online Investment Limited Was Subscribed

NEW YORK, NY / ACCESSWIRE / July 27, 2020 / WIMI Hologram Cloud (NASDAQ:WIMI) announced today that its underwriters have exercised their entire overallotment option, which has generated over $61,840,800 in subscriptions. Participants in the offering are expected to include a select group of US and Asian institutional investors, including WB Online Investment Limited, a unit of Weibo corp (NASDAQ:WB). Hologram Cloud aims to build a Hologram Cloud that puts 40% of its revenues into technology research and development. 40% for strategic acquisitions and investments, etc.; 20% for other general purposes, including operations and capital expenditure, etc.

WIMI Hologram Cloud is expected to be completed around July 29, 2020.

In recent years, AR holography has been attracting the attention of Internet and IT enterprises. Foreign Facebook, Microsoft, SONY and other key companies have laid out AR holographic business. Domestic Internet giants such as Tencent, Ali and Baidu have also set up AR holographic business division, which directly drives the popularity of AR holographic concept in the domestic market. Digi-capital released a report saying that by 2021, the global holographic cloud and mobile virtual cloud market will reach 108 billion US dollars, while The Chinese market will account for one quarter of the global AR market, with huge growth prospects.

WIMI after five years of rapid development, has established a relatively complete system of holographic technology research and development, holographic content production and reserve system, holographic commercial development system, has 132 holographic related patents, has 214 software copyright, content of high quality holographic 4654, 513 business partners, holographic business income reached 300 million in 2019. This year in the United States Nasdaq successfully listed, is the holographic concept of the first stock. At the core of the WIMI Hologram Cloud business is holographic AR technology, which is used in software engineering, content production, Cloud and big data, providing customers with AR based holographic services and products.

According to the annual report, the WIMI Hologram Cloud business started to expand gradually in 2017, with revenues of 192 million yuan, 225 million yuan and 319 million yuan in 17-19 years, showing an accelerating momentum with growth rates of 17% and 41%, respectively. In terms of net profit, it was 73 million yuan, 89 million yuan and 102 million yuan respectively in 17-19 years.

Holographic AR ads using the company's advertising solutions generated about 9.7 billion views in the year ended December 31, 2019, up 47.0% from about 6.6 billion views in 2018.

From the above data, it is not hard to see that the entire WIMI Hologram Cloud business is in a benign growth trend. From 2017 to 2019, the financial revenue of the three years has been continuously increasing. The amount of revenue generated from this market is increasing and the market expansion is expanding.

As an emerging industry, the global holographic AR market has great growth potential and has attracted a large amount of investment since 2016, making a great contribution to the growth of the industry. Several organizations, including RESEARCH and development, are investing heavily in the technology to develop solutions for businesses and consumer groups. Over the years, holographic augmented reality has been widely used in games, media and marketing applications. Its growing use in different sectors such as advertising, entertainment, education and retail is expected to drive demand during the forecast period.

Global Holographic AR market size by revenue in 2016 2025

With the change of 5G holographic communication network bandwidth conditions, 5G holographic application market will usher in the explosion, holographic interactive entertainment, holographic conference, holographic conference and other high-end applications are gradually popularized to holographic social networking, holographic communication, holographic navigation, holographic family applications and other directions. WIMI Hologram Cloud (WIMI.US) plans to use holographic AI face recognition technology and holographic AI face changing technology as core technologies to support holographic Cloud platform services and 5G communication holographic applications with multiple innovative systems.

After 5G landing, the first scene application will accelerate the DEVELOPMENT of VR/AR, and the growth rate of The Chinese market will be higher than that of the world. Therefore, with 5G blessing, the communication and transmission shortboards of VR/AR and other immersive game scenes will be made up, and it is expected that the commercial use of VR/AR of immersive games will be accelerated. According to the research of China Academy of Information and Communications Technology, the global VIRTUAL reality industry scale is close to 100 billion yuan, and the average annual compound growth rate from 2017 to 2022 is expected to exceed 70%. According to Greenlight, the global virtual reality industry scale will exceed 200 billion yuan in 2020, including 160 billion yuan in VR market and 45 billion yuan in AR market. Once 5G networks start to spread to more regions, the commercial use of holographic technology could reap huge benefits.

Media Contact:

Company: WIMI
Name: Tim Wong
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Email: bjoverseasnews@gmail.com

SOURCE: WIMI

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