WiMi Invested in BlueCloud Technology to Create a Virtual Digital Platform for Smart Sports

BEIJING,Nov. 17,2021 -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"),a leading global application solution provider of holographic augmented reality ("AR"),today announced: WiMi invested BlueCloud Industrial Interconnection Technology to create a virtual digital platform for smart sports.

BlueCloud Technology is composed of a number of highly sophisticated scholars,including the "Thousand Hundred Ten Project" talents from universities in Guangdong Province,members of the National Automation System and Integration Standardization Technical Committee Robotics Subcommittee (SAC/TC159/SC2),and Bremen,Germany Professor of Marine Systems and Robotics,Senior Mechanical Engineer,Jacobs University,etc.. Combining WiMi Hologram's real and rich business data and application scenarios,bilateral in-depth cooperation is to jointly train innovative research talents,carry out cutting-edge technological innovations,and accelerate the application of scientific research results. BlueCloud Technology integrates intelligent robots and intelligent manufacturing technology,and is a center for improving the knowledge structure of digital talents and a training center for high-tech talents with multiple intelligent manufacturing technologies.

BlueCloud Technology develops and operates an online service platform in response to the common needs of the intelligent equipment industry. It has a networked application matrix of scientific and technological resources such as APPs and small programs,and connects the open laboratory software and hardware basic environment built by the platform to form an intelligent technical service menu. Innovative and entrepreneurial users can directly make appointments online to realize on-site self-service,and at the same time can make appointments for the software and hardware environment demand services such as public training of intelligent manufacturing talents,technology promotion,and intelligent manufacturing standard verification and development.

WiMi has been focusing on software content development,cloud platform construction,and industrial chain investment integration in the holographic AR industry. The resources of both sides cover the knowledge,scientific and technological talents,and experimental bases and other scientific and technological innovation resources of the 42 innovation platforms of large enterprises,universities and research institutes. It provides production technology services such as R&D and design,process development,pilot incubation,testing,standards and intellectual property rights for small and medium-sized enterprises in the intelligent upgrading of industrial manufacturing and the intelligent equipment industry to promote the efficient allocation of professional scientific and technological resources,reduce the cost of innovation and entrepreneurship,and enhance the independent innovation capabilities of enterprises.

WiMi has a deep understanding and comprehensive grasp of content production technology and visual system development technology in the field of holographic intelligent vision innovation. BlueCloud Technology uses the holographic intelligent vision technology in the field of intelligent industrial inspection,and is committed to the research,development and application of sensitive intelligent visual sensors,high-speed holographic image processing,and intelligent image recognition. The platform takes mechanical design,finite element analysis,kinematics,dynamics and holographic simulation as the core,uses mature computer intelligent vision technology to establish a digital model of intelligent mechanical system,and provide a computer intelligent virtual research platform. In the first half of 2021,our global operating revenue increased by about 202.2% year-on-year,gross profit increased by 189.8% year-on-year,net profit increased by 40.3% year-on-year and our R&D expenses increased by 463.6% year-on-year. We increase R&D investment to maintain the company's leading competitive edge in the Metaverse and holographic AR industries. Looking forward to the whole year of 2021,with the outbreak of the Metaverse industry and the company's R & D investment continues to increase,WiMi holographic revenue is expected to continue to maintain rapid growth.

About WIMI Hologram Cloud

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,holographic semiconductor,holographic cloud software,holographic car navigation,metaverse holographic AR and VR equipment,metaverse 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,metaverse holographic AR technology,metaverse virtual cloud service,and other holographic AR technologies.

Safe Harbor Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminologysuch as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts,including statements about the Company'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's strategic and operational plans,contain forward−looking statements. The Company may also make 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 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−looking statement,including but not limited to the following: the Company's goals and strategies; the Company's future business development,financial condition and results of operations; the expected growth of the AR holographic industry; and the Company'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'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.

View original content:https://www.prnewswire.com/news-releases/wimi-invested-in-bluecloud-technology-to-create-a-virtual-digital-platform-for-smart-sports-301426542.html