WiMi Wins Annual Award for Leading Sci-tech Innovation Company at the 2020 International Sci-tech Innovation Festival

BEIJING,Dec. 22,2020 -- WiMi Hologram Cloud Inc. (Nasdaq:WIMI) ("WiMi" or the"Company"),a leading HologramARTechnologyprovider inChina,today announced that it has won the Annual Award for Leading Sci-tech Innovation Company at the 2020 International Sci-tech Innovation Festival (the "Festival") as a result of the Company's outstanding performance in technological innovation and widespread public approval. Recently held in Beijing,the Festival focused on the empowerment of technological development through innovation and digitization and was sponsored by syobserve.com,gongyidaily.com,and many technology and financial media outlets in China. During the Festival,more than 500 of the world's most innovative technology companies gathered to share their innovative achievements,establish good cooperation,and generate greater value.

WiMi has a brand-new holographic technology capability that utilizes optical projection technology. By leveraging this new capability,WiMi is able to further develop other types of holographic AR technologies in various fields,including the synthesis and presentation of holographic AI vision,interactive holographic software development,holographic AR advertising,holographic AR SDK payments,5G holographic communications software development,holographic facial recognition,and more.

WIMI is able to use its new holographic technology capability to provide one-stop services and commercial applications for home entertainment environments,light field cinemas,performing arts systems,commercial publishing systems,and advertising display systems. In fact,at present,WIMI maintains the world's leading 3D computer vision technology and SAAS platform technology. By utilizing its AI algorithms,WIMI is also able to turn ordinary images into 3D holographic content. This content is frequently used in holographic advertising,holographic entertainment,holographic education,holographic communication,and other fields. With the development of 5G holographic communications as well as the continual application of enhanced mobile broadband and the Internet of Things,the holographic cloud industry will see explosive growth in the future.

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.

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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