WiMi Partners With ICR to Enhance Investor Relations

BEIJING,Oct. 23,2020 -- WiMi Hologram Cloud,Inc. ("WiMi" or the "Company") (NASDAQ: WIMI),a leading augmented reality service provider in China,today announced that that it has retained ICR,LLC,a leading strategic communications advisory firm,to manage its investor relations program.

Mr. Shuo Shi,Chief Executive Officer of WiMi,commented,"We are pleased to announce our cooperation with ICR. Working together,we seek to increase our disclosure transparency and enhance our investor relations. As a leader in corporate strategic communications,ICR is well positioned to help improve our current investor communications program and ensure that our new and existing shareholders stay abreast of our corporate developments. With its in-depth knowledge of the U.S. capital markets and extensive experience working with technology companies,ICR should be able to help us clearly articulate our vision,explain our business model,raise our corporate profile,and forge a closer relationship with our investor base."

About WIMI Hologram Cloud Inc.

WiMi Hologram Cloud,Inc.(NASDAQ: WIMI),whose commercial operations began in 2015,operates an integrated holographic AR application platform in China and has built a comprehensive and diversified holographic AR content library among all holographic AR solution providers in China. Its extensive portfolio includes 4,654 AR holographic contents. The company has also achieved a speed of image processing that is 80 percent faster than the industry average. While most peer companies may identify and capture 40 to 50 blocks of image data within a specific space unit,WiMi collects 500 to 550 data blocks.

About ICR

Established in 1998,ICR partners with its clients to execute strategic communications and advisory programs that achieve business goals,build awareness and credibility,and enhance long-term enterprise value. The firm's highly-differentiated service model,which pairs capital markets veterans with senior communications professionals,brings deep sector knowledge and relationships to more than 750 clients in approximately 20 industries. ICR's healthcare practice operates under the Westwicke brand (www.westwicke.com). Today,ICR is one of the largest and most experienced independent communications and advisory firms in North America,maintaining offices in New York,Norwalk,Boston,Baltimore,San Francisco,San Diego and Beijing. Learn more at www.icrinc.com.Follow us on Twitter at @ICRPR.

Safe Harbor / Forward-Looking 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 terminology such 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.

Contacts

WIMI Hologram Cloud Inc.

Email: pr@wimiar.com

ICR,LLC

Sharon Zhou

Tel: +1 (646) 975-9495

Email: wimi@icrinc.com

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