WiMi Hologram Submitted the Trademark Application of "WIMI METAVERSE" to Lay Out the Rapidly Developing Metaverse Industry

Rhea-AI Summary

WiMi Hologram Cloud (Nasdaq: WIMI) announced the submission of a trademark application for "WIMI METAVERSE" to enhance its intellectual property and strengthen its competitive edge in the growing Metaverse industry. The trademark covers various categories, including advertising, education, and entertainment. The company possesses extensive holographic IP rights and has developed products like the WiMi Hologram SoftLight and WiMi HoloAR Lens. In H1 2021, WiMi reported a 202.2% revenue increase, with R&D expenses rising 463.6% to maintain its market leadership.

Positive

• 202.2% year-on-year revenue growth in H1 2021
• 189.8% increase in gross profit year-on-year
• 40.3% rise in net profit year-on-year
• R&D expenses surged by 463.6% to enhance competitive edge
• Application for 'WIMI METAVERSE' trademark to improve IP protection

Negative

• None.

BEIJING, Oct. 29, 2021 /PRNewswire/ -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading global application solution provider of holographic augmented reality ("AR") comprehensive technology, today announced: "An application for the "WIMI METAVERSE" trademark has been submitted to the Trademark Office. This will help the company to further improve the intellectual property protection system, maintain the leading position in technology, and enhance the company's core competitiveness." 

Metaverse refers to the virtual world parallel to the real world through the technical support of AR and VR, which is expected to reconstruct the virtual world, and bring new opportunities in the platform ecology, hardware demand, infrastructure, content form and other aspects. Looking forward to the next 3-5 years, the Metaverse will enter a period of rapid development, VR/AR, NFT, AI, Cloud computing, PUGC game platform, digital people, digital twin and other fields, will continue to emerge rapid development opportunities. Currently, the trademark "WIMI METAVERSE" is under application, and the international classification mainly involves advertising sales, communication services, scientific instruments, office supplies, education and entertainment, fitness equipment, social law, design and research, etc.  WiMi Hologram will use the "WIMI METAVERSE" trademark to generate commercial value in Metaverse commercial applications.  

1. In terms of Metaverse software technology, WiMi's holographic AR content and holographic imaging software technology patent based on image detection, recognition, template matching, dynamic image fusion and replacement will generate commercial value in Metaverse commercial applications.

2. In terms of Metaverse holographic applications, WiMi owns a total of 4,654 holographic virtual IP rights, which covers a wide range of categories including holographic anime, virtual live streaming, virtual idol and virtual social. WiMi Hologram will use virtual assets under the "WIMI METAVERSE" trademark to generate commercial value in Metaverse holography applications.  

3. In terms of Metaverse holographic hardware, WiMi has launched its holographic XR head-mounted display product "WiMi Hologram SoftLight", which has been licensed by Federal Communications Commission (FCC) and approved to enter the US market. In addition, WiMi has also launched the "WiMi HoloAR Lens," an augmented reality (AR) head-mounted display (HMD). WiMi Hologram will use the "WIMI METAVERSE" trademark to lay the foundation in the Metaverse head display market.

Shi Shuo, CEO of WiMi, said: "the trademark "WIMI METAVERSE" applied by WiMi Hologram will be widely used in fields of virtual social networking, virtual entertainment, virtual education, virtual communications, etc. With the widespread popularization of Metaverse, the holographic AR industry where WiMi Hologram lies will show explosive growth. We will seize the opportunity of Metaverse market growth, constantly improve our Metaverse product matrix, and expand our market share, and thus continue to create long-term value for the company's shareholders. In the first half of 2021, our worldwide operating revenue increased approximately 202.2% year on year, our gross profit increased 189.8% year on year, our net profit increased 40.3% year on year, and our R&D expenses increased 463.6% year on year. We increased R&D investment to maintain the company's leading competitive edge in the Metaverse and holographic AR industry. Looking forward to the full year of 2021, with the explosion of the Metaverse industry and the continuous increase of the company's R&D investment, WiMi Hologram's 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 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.

View original content:https://www.prnewswire.com/news-releases/wimi-hologram-submitted-the-trademark-application-of-wimi-metaverse-to-lay-out-the-rapidly-developing-metaverse-industry-301411826.html

SOURCE WiMi Hologram Cloud Inc.

FAQ

What is the significance of the 'WIMI METAVERSE' trademark application?

The 'WIMI METAVERSE' trademark application aims to strengthen WiMi's intellectual property and enhance its competitive position in the rapidly developing Metaverse industry.

How did WiMi's financial performance change in the first half of 2021?

In the first half of 2021, WiMi's revenue increased by approximately 202.2%, gross profit rose by 189.8%, and net profit grew by 40.3% year-on-year.

What products has WiMi launched related to the Metaverse?

WiMi launched the 'WiMi Hologram SoftLight' and 'WiMi HoloAR Lens,' both of which are designed for application in the Metaverse.

What are the expected trends in the Metaverse industry according to WiMi?

WiMi anticipates the Metaverse will experience rapid growth, impacting various sectors including virtual entertainment, education, and social networking over the next 3-5 years.

What intellectual property does WiMi hold in the Metaverse space?

WiMi owns 4,654 holographic virtual IP rights covering categories such as holographic anime, virtual live streaming, and virtual idol.