MicroCloud Hologram Inc. Announced Providing CMS for China's Largest New Energy Vehicle Company

Rhea-AI Summary

MicroCloud Hologram Inc. (NASDAQ: HOLO) announced a CMS Development Agreement with China's largest new energy vehicle company, expecting a breakthrough in the new energy vehicle business. The new energy vehicle company has sold over 2.3 million cars this year and operates in 70 countries, making it the world's largest in terms of sales volume. HOLO will provide integrated holographic vision software and hardware solutions for new energy vehicles, including advanced driver assistance system (ADA) software and hardware development services.

BEIJING, Nov. 28, 2023 /PRNewswire/ -- MicroCloud Hologram Inc. (NASDAQ: HOLO) ("HOLO" or the "Company"), a Hologram Digital Twins Technology provider, today announced that its subsidiary is providing CMS for China's largest new energy vehicle company. By signing the Generalized Streaming Media Control System (CMS) Development Agreement, HOLO is expected to usher in a breakthrough in the new energy vehicle business.

The new energy vehicle company, the largest new energy vehicle company in China, is also the largest new energy vehicle company in the world in terms of sales volume. By October 2023, the new energy vehicle company's cumulative sales of cars this year have exceeded 2.3 million. The company has sold its products to more than 400 cities in over 70 countries and regions around the world.

According to the agreement, HOLO provides the design and development program of a common (including SG, ESEA, and SU models) streaming media control system. Its main contents are as follows: first, providing hardware and software design solutions for the system, which are divided into solutions for the three modules of camera, controller and display. Second, providing solutions for data analysis, optical analysis, platform-based analysis, system analysis, and imaging analysis. Third, to do the relevant EMC, performance, environment and other tests and delivery in the way satisfied by the new energy vehicle company. Fourth, verify the above solutions together with the company. Fifth, if there is a need to change the condition of the new energy vehicle models (e.g. SG, ESEA, SU), we will cooperate with the vehicle company to complete the change. Sixth, reserve expandable artificial intelligence (AI) functions.

HOLO will provide integrated holographic vision software and hardware solutions for new energy vehicles, including holographic light detection and ranging solutions based on holographic technology, holographic vision point cloud algorithm architecture design, technical hologram solutions, holographic light sensor chip design, and holographic vehicle intelligent vision technology. Providing new energy vehicle companies with holographic advanced driver assistance system (ADA) software and hardware development services. Given this new energy vehicle company is China's largest company in the field of new energy vehicles, and also acclaimed for the largest sales volume of new energy vehicles in the world, the enterprise has occupied a huge market, which means the cooperation between the two listed company's will bring positive financial impact on the overall operating income of the two sides.

About MicroCloud Hologram Inc.

MicroCloud Hologram Inc. engages in the research and development, and application of holographic technology. MicroCloud Hologram technology services include holographic light detection and ranging (LiDAR) solutions based on holographic technology, holographic LiDAR point cloud algorithms architecture design, technical holographic imaging solutions, holographic LiDAR sensor chip design, and holographic vehicle intelligent vision technology to service customers that provide holographic advanced driver assistance systems (ADAS). MicroCloud Hologram provides its holographic technology services to its customers worldwide. MicroCloud Hologram also provides holographic digital twin technology services and has a proprietary holographic digital twin technology resource library. MicroCloud holographic digital twin technology resource library captures shapes and objects in 3D holographic form by utilizing a combination of holographic digital twin software, digital content, spatial data-driven data science, holographic digital cloud algorithm, and holographic 3D capture technology.

Safe Harbor 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.

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SOURCE MicroCloud Hologram Inc.

FAQ

What is the latest announcement from MicroCloud Hologram Inc. (HOLO)?

MicroCloud Hologram Inc. (HOLO) announced a CMS Development Agreement with China's largest new energy vehicle company.

What are the main highlights of the agreement between MicroCloud Hologram Inc. (HOLO) and the new energy vehicle company?

HOLO will provide integrated holographic vision software and hardware solutions for new energy vehicles, including advanced driver assistance system (ADA) software and hardware development services.

How many cars has the new energy vehicle company sold this year?

The new energy vehicle company has sold over 2.3 million cars this year.

In how many countries does the new energy vehicle company operate?

The new energy vehicle company operates in over 70 countries.

What is the ticker symbol for MicroCloud Hologram Inc.?

The ticker symbol for MicroCloud Hologram Inc. is HOLO.