WiMi Hologram Cloud (WIMI) has been confirmed with the price range for IPO in the United States of 7.5 to $9.5, with a maximum amount of $38 million. It is expected to officially land on NASDAQ on August 1st.
Reported by the iponews, WIMI has filed its IPO prospectus with the U.S. Securities and Exchange Commission for an initial public offering (IPO), which has been updateded recently. From the explanation of the prospectus, the truth about WIMI is shown in front of the public, which finally let the holographic cloud industry open its horizons with careful study.
WIMI has covered plenty of holographic AR technologies range from holographic computer vision AI synthesis, holographic vision presentation, holographic interactive software development, holographic online and offline advertising, holographic ARSDK payment, 5G holographic communication software development to holographic face recognition development and holographic AI face DeepFakes development, which is capable of providing the one-stop service. At present, WIMI has grown up to be one of the largest sippliers of providing the integrated technology solutions in holographic cloud in China.
It is shown in the prospectus that the net profit of WIMI rose from 7333 million yuan in 2017 to 8921 million yuan in 2018. The gross income rose from 49226626 yuan in the first quarter of 2018 to 78492282 yuan in the first quarter of 2019, which increased by 29265656 Yuan with 59.5 percent of growing rate. Net profit increased by 15266858 yuan with 68.7 percent of growing rate from 22226934 yuan for the three months ended on March 31st of 2018 to 37493792 yuan for the three months ended on March 31st of 2019. The gross income of the WIMI increased from RMB192,029,524 Yuan in 2017 to RMB225,271,564 Yuan in 2018. * Source: U.S. SEC - FORM F-1, WiMi Hologram Cloud Inc., Securities and Exchange Commission (SEC).
From the above data, it is easy to see that the whole business growth of the WIMI is in a benign development trend, and the financial revenue of 3 years has been increasing from 2017 2019. It is shown in the feedback from this market that the business revenue has been increasing, and the market development has been expanding.
According to the reports from Frost & Sullivan, as far as gross revenue in 2018 is concerned, WIMI is the largest holographic AR application platform in China. By using of its powerful technical capabilities and infrastructure, the company is capable of providing with excellent products and services, and operating in an efficient manner. The core business of WIMI has been applied in software engineering, media manufacturing services, cloud and big data with holographic AR technology.
WIMI has a leading AR holographic platform in China. At present, AR applications are mainly used in such industries as entertainment, advertising, and education. Its hardware environment is relatively mature, which is very beneficial to the development of software and content in these fields. Based on the data from the Frost & Sullivan, WIMI established the comprehensive and diversified holographic AR content library among all domestic holographic AR solution providers in 2018.
* Source: U.S. SEC - FORM F-1, WiMi Hologram Cloud Inc., Securities and Exchange Commission (SEC).
Company Name: Beijing Overseas Newswire
Name: Tim Wong