WiMi HoloPluse LiDAR Approved by the Federal Communications Commission to Enter the U.S. Market

Rhea-AI Summary

WiMi Hologram Cloud Inc. (Nasdaq: WIMI) announced that its 3D holographic pulsed lidar product, the WiMi HoloPulse LiDAR, received approval from the Federal Communications Commission to enter the U.S. market. This multi-function sensor can detect objects over 200 meters away and generate high-resolution 3D holograms. The company reported a significant revenue increase of 202.2% year-on-year in the first half of 2021, alongside a gross profit rise of 189.8% and net profit growth of 40.3%. WiMi plans to expand its product offerings and market share, leveraging its R&D investment in the burgeoning Metaverse market.

Positive

• WiMi's HoloPulse LiDAR approved for the U.S. market, enabling further expansion.
• Revenue increased by 202.2% year-on-year in the first half of 2021.
• Gross profit rose by 189.8% year-on-year.
• Net profit grew by 40.3% year-on-year.
• R&D expenses surged by 463.6%, enhancing competitive edge in the Metaverse.

Negative

• None.

BEIJING, Nov. 2, 2021 /PRNewswire/ -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading provider of augmented reality ("AR") services in China, today announced: Its 3D holographic pulsed lidar product "WiMi HoloPluse LiDAR"has been approved by the Federal Communications Commission to enter the U.S. market.

"WiMi HoloPulse LiDAR", approved by the Federal Communications Commission, is a multi-function holographic pulse 3D solid-state lidarthatis capable of detecting objects from more than 200 meters away and capturing high-resolution 3D holograms. Lidar uses microvibrators from MEMS（microelectromechanical systems）to provide high resolution, long detection ranges, and wide fields of view. Lidar utilizes dynamic controls to facilitate the flexible adjustment of its vertical resolution and frame rates, including the dynamic definition of focus areas. Lidar uses solid-state silicon detectors to reliably detect weak reflections of distant objects and strong reflections of close-range objects. Digital signal processing is performed by determining the exact location in 3-dimensional space by filtering, correlation, and statistical analysis. The point cloud generated by lidar sensors can map the sensor environment in the form of 3D, and a single point cloud can be composed of tens of thousands of distance points containing holographic data of 3D original environmental information. The software stack extracts abstract information from the holographic data, transmits commands to the actuator and performs a 3D holographic data presentation through a deep neural network control.

WiMi HoloPulse LiDAR is a multi-function holographic pulse lidar sensor, with a large detection field of view, long detection range, unique scanning mode, small size and light weight. It has a point cloud interface and requires no additional adapter box. The WiMi HoloPulse LiDAR scheme offers a software development package compatible with hardware products, including features such as target detection, classification, and counting.

Shi Shuo, CEO of WiMi, said, "Holographic pulsed lidar product "WiMi HoloPluse LiDAR", was approved by the Federal Communications Commission to enter the U.S. market and it will be applied in autonomous driving, environmental perception, 3D holographic imaging, advanced driver assistance systems (ADAS), traffic management, and 3D printing and so on. We will seize the market opportunities to constantly improve our product matrix and expand our market share to continue to create long-term value for the company's shareholders.

In the first half of 2021, our global operating revenue increased by about 202.2% year-on-year, gross profit increased by 189.8% year-on-year, net profit increased by 40.3% year-on-year and our R&D expenses increased by 463.6% year-on-year. We increased R&D investment to maintain the company's leading competitive edge in the Metaverse and holographic AR industries. Looking forward to the whole year of 2021, with the outbreak of the Metaverse industry and the company's R & D investment continues to increase, WiMi holographic revenue is expected to continue to maintain rapid growth."

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc.(NASDAQ: WIMI) was founded in 2015, which is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment,holographic semiconductor, holographic cloud software, holographic car navigation,metaverse holographic AR and VR equipment, metaverse holographic cloud software and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic virtual communication, metaverse holographic AR technology, metaverse virtual cloud service,and other holographic AR technologies.

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 terminologysuch 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 WiMi Hologram Cloud Inc.

FAQ

What does the approval of WiMi's HoloPulse LiDAR mean for its market strategy?

The FCC approval allows WiMi to enter the U.S. market, facilitating expansion and increased revenue opportunities.

How much did WiMi's revenue grow in the first half of 2021?

WiMi's revenue increased by 202.2% year-on-year in the first half of 2021.

What is the significance of R&D investment for WiMi?

WiMi's R&D expenses rose by 463.6% year-on-year, which is crucial for maintaining its competitive edge in the Metaverse and holographic industries.

What technology does the WiMi HoloPulse LiDAR utilize?

The WiMi HoloPulse LiDAR uses microvibrators from MEMS, allowing for high-resolution, long-range detection and 3D hologram generation.

What industries could benefit from the WiMi HoloPulse LiDAR?

Potential applications include autonomous driving, environmental perception, advanced driver assistance systems (ADAS), traffic management, and 3D printing.