WIMI Announces the Release of "WiMi HoloVR "to Enhance User Experience in the Metaverse

Rhea-AI Summary

WiMi Hologram Cloud Inc. (Nasdaq: WIMI) announced the launch of its new VR headset, the WiMi HoloVR, aimed at enhancing user experiences in the Metaverse. This innovative device features dual-camera technology for a 105-degree field of view, gesture recognition, and a Snapdragon XR2 processor. The HoloVR boasts a 4K display resolution and supports multiple applications, including gaming and virtual social interactions. In the first half of 2021, WiMi reported significant growth with a 202.2% increase in operating revenue and a 40.3% rise in net profit, reflecting its commitment to R&D in AR and VR technologies.

Positive

• Operating revenue increased by 202.2% year-on-year.
• Net profit rose by 40.3% year-on-year.
• Gross profit grew by 189.8% year-on-year.
• R&D expenses surged by 463.6% year-on-year, indicating strong investment in technology.
• The WiMi HoloVR supports advanced features like gesture recognition and heart rate monitoring.

Negative

• None.

BEIJING, Dec. 8, 2021 /PRNewswire/ -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading global application solution provider of holographic augmented reality ("AR") , today announced release of a new Virtual reality (VR) head-mounted display (HMD) product for the consumer market, named "WiMi HoloVR" to further strengthen the software and hardware research and development of the underlying holographic technology and expand the user experience of holographic VR technology in Metaverse.

The new head display device "WiMi HoloVR" is the first VR device that supports double-clicking See through in China. It adopts the leading color SEe-Through dual-camera scheme, which has a 105 degrees visual Angle, and supports SLAM spatial positioning and gesture recognition. Perfectly adapted to hand 6DoF positioning technology, with unlimited application expansion space; Gamepad VR gamepad using broadband vibration technology, it can imitate a variety of vibration experience, providing a 0-1000Hz frequency point response with less than 10ms latency, and supports the official SDK program. It is worth mentioning that, under the background of people's concern about health, the product's handle has added a heart rate monitoring function; The product adopts Qualcomm Snapdragon XR2 processor, with the display resolution of 3840X2160 standard 4K level, 1058PPI, ultra hd picture quality, ultra-hign refresh rate of 90Hz, ultra-low delay, and smooth game experience. Diopter adjustment scheme, focusing left and right eyes separately, myopia users below 800 degrees do not need to wear glasses; Ultra-light and ultra-thin Fresnel lens, optical module only 35g, super large Angle of view 110 degrees, perfect immersion experience. Use 6000mAh large capacity lithium battery, can support more than 3 hours of game time. In addition, the battery life can be extended to 9000mAh and the service time can be increased to more than 5 hours through the official launch of the fun headset. Beamforming transmission technology, perfect restoration of high-quality audio sources, to providing extremely optimized auditory experience. Perfect support for wireless and wired streaming mode, support Wi-Fi FI5 wireless streaming and 5G module, streaming Steam mass content. The device is expected to be the main entry point for new metaverse holographic VR technology in communication, social and entertainment  interactions.

Shuo Shi, the Founder and Chief Executive Officer of the Company said, "WiMi HoloVR, accelerates the process of image color management, connectable devices, and wearing experience, which builds a solid foundation in the expansion of the Metaverse scene. With the popularization of Metaverse and technological breakthroughs, people's demand for AR and VR products will continue to grow. WIMI's holographic XR(AR/VR/MR) head-mounted display product, likeWiMi Hologram SoftLight and WiMi HoloPluse LiDAR, has been licensed and approved by the Federal Communications Administration (FCC) to enter the US market. The new WiMi HoloVR will also be widely used in fields of virtual social networking, virtual entertainment, virtual education, virtual communications,etc. 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 increase R&D investment to maintain the company's leading competitive edge in the Metaverse and holographic AR industries. With the popularization of Metaverse applications, the holographic cloud industry where WIMI is located will see explosive growth. We will seize the growth opportunities of Metaverse market, continuously improve our Metaverse product matrix, and expand our market share to continue to create long-term value for the company's shareholders."

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 is the new product released by WiMi Hologram Cloud?

WiMi Hologram Cloud released the WiMi HoloVR, a new VR headset for the consumer market.

What are the key features of the WiMi HoloVR?

The WiMi HoloVR features a 105-degree field of view, dual-camera technology, gesture recognition, and a Snapdragon XR2 processor.

When was the WiMi HoloVR launched?

The WiMi HoloVR was announced on December 8, 2021.

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

WiMi reported a 202.2% increase in operating revenue year-on-year in the first half of 2021.

What is the significance of the WiMi HoloVR in the Metaverse?

The WiMi HoloVR is expected to be a key entry point for new holographic VR technology in social and entertainment interactions within the Metaverse.