WiMi Wins Bid for Second Phase of China Mobile AND Media Cloud Platform's Remote Interaction Holographic Project

BEIJING,Feb. 19,2021 -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"),a leading Hologram Augmented Reality ("AR") Technology provider in China,today announced that it has won the bid for the second phase of China Mobile AND Media Cloud Platform's remote interaction holographic project (the "Project").

Bidding for the Project started at 10 AM Beijing time on February 1,2021. All companies in China's holographic and communication industries were able to fill out an application. The application evaluation process was executed according to the bid evaluation method specified in the Bidding Laws of the People's Republic of China,other related regulations,and bidding documents. After a series of rigorous evaluations,it was decided that WiMi's application stood out from the rest,and according to the bidding result announcement released on February 10,2021 at China Mobile's official website,WiMi won the bid.

With hundreds of millions of users,China Mobile is the largest mobile communication operator and leading operator of 5G mobile communication infrastructure in China. As of December 2020,China Mobile had 165 million customers with 5G data plan and 775 million customers with 4G data plan. With its comprehensive communication infrastructure and superior high-bandwidth 5G mobile communication network,China Mobile maintains broad development prospects in the field of remote interaction holographic communication. WiMi's status as a qualified supplier and partner for China Mobile marks a significant improvement in the Company's overall competitiveness. Going forward,as domestic communication operators continue to increase their investment into 5G technologies each year,it is expected that WiMi will also achieve significant advances and strategic breakthroughs in terms of its collaborations with 5G operators in China.

The selection of WiMi for the Project is further evidence of the Company's strong technical strengths. As a leading AR hologram technology provider for holographic 5G communication applications,the Company remains committed to independent R&D as well as investment into 5G and other core technology fields. Going forward,the Company plans to utilize such advanced technologies as 5G,AR,virtual reality,holographic communications,and more,to continue strengthening its collaborations with China Mobile as well as other communication operators and industry partners. At the same time,the Company will also focus on leveraging these technologies to further promote the development of its holographic 5G communication business while further accelerating the digital transformation of domestic holographic communication applications in other industry verticals.

About WIMI Hologram Cloud Inc.

WiMi Hologram Cloud,Inc.(NASDAQ: WIMI),whose commercial operations began in 2015,is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software,holographic pulse laser,head-mounted light field holographic equipment,holographic semiconductor,holographic cloud software,holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application,holographic laser automotive application,holographic vision semiconductor technology,holographic software development,holographic AR advertising technology,holographic AR entertainment technology,holographic ARSDK payment,automobile holographic communication and other holographic AR technologies. For more information,please visit http://ir.wimiar.com.

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

View original content:/news-releases/wimi-wins-bid-for-second-phase-of-china-mobile-and-media-cloud-platforms-remote-interaction-holographic-project-301231556.html