WIMI Hologram Cloud (NASDAQ:WIMI) Financial Report Shows Continuous Annual Profit

NEW YORK, NY / ACCESSWIRE / May 7, 2020 / WIMI, China’s leading holographic cloud company, disclosed its fourth-quarter and full-year results for 2019 on NASDAQ On April 30, 2020. Data shows that the growth momentum of WIMI is strong. With the rapid growth of market demand for AR technical services in recent years, the core business of WIMI has also been developing rapidly.

I. company introduction

WIMI Hologram Cloud (NASDAQ:WIMI) was founded in 2015, after four years has grown into one of China’s leading holographic cloud integrated technology solutions provider, the company offers from holographic visual AI synthesis and showing holographic AR, holographic interactive software development, advertising, holographic AR SDK pay, 5 g holographic communication software development to the holographic AR technology such as holographic face recognition of one-stop service, business application scenario mainly gathered in home entertainment, light field cinema, performing system, business distribution system and the advertising display system and so on five major areas.

II. WIMI’s revenue is outstanding

According to the annual report, WIMI’s holographic business began to increase gradually in 2017, with the revenue of 192m yuan, 225m yuan and 319m yuan respectively in 17-19 years, with the growth rate of 17% and 41% respectively, showing an accelerating trend. 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 Dec. 31, 2019, up 47.0 percent from about 6.6 billion views in 2018.

From the above data, it is not difficult to see that the business growth of the whole company is in a benign development trend, and the financial revenue of the three years from 2017 to 2019 has been continuously increasing. From this aspect of the market, the number of business revenue is increasing and the market expansion is expanding.

III. The entertainment and advertising market in the holographic application scene of WIMI is huge

As China’s leading holographic augmented reality application platform, WIMI has a huge market potential in the AR value chain. With cutting-edge technical capabilities, high-quality user experience, and an experienced management team, we have built the most comprehensive and diverse content library among holographic AR solution providers, which is expected to grow continuously over the next few years.

In 2016, the application market scale of holographic AR in the entertainment industry in China is 600 million yuan, and the compound annual growth rate is expected to be 83.5% in 2016-2020, and 92.8% in 2020-2025, reaching 180 billion yuan in 2025. This increase is attributed to the increasing popularity of entertainment radio programs, particularly live radio programs, including ceremonies, concerts, evenings and sports events, where AR has great potential. The growth has also been helped by enhanced live streaming capabilities from smartphones and other portable digital devices.

Media contact:

Company: WIMI Hologram Cloud
Name: Tim Wong
Email: pr@wimiar.com
Tele: +86 10 53384913
Website: www.wimiar.com

SOURCE: WIMI

View source version on accesswire.com:
https://www.accesswire.com/588866/WIMI-Hologram-Cloud-NASDAQWIMI-Financial-Report-Shows-Continuous-Annual-Profit

error: Content is protected !!