WIMI obtained the US trademark registration certificate to expand the US market

Rhea-AI Summary

WiMi Hologram Cloud (Nasdaq: WIMI) announced the successful acquisition of a trademark registration from the United States Patent and Trademark Office for its WiMi Hologram Softlight brand. This trademark aids in enhancing the company's intellectual property protection and strengthens its competitive position in the AR sector. CEO Shuo Shi stated that this move will bolster brand awareness internationally and safeguard against trademark infringements. WiMi reported significant financial growth, with a 202.2% increase in global operating revenue and a 40.3% rise in net profit for the first half of 2021.

Positive

• Acquisition of trademark registration enhances intellectual property protection in the U.S.
• Significant financial growth: 202.2% increase in global operating revenue and 40.3% increase in net profit year-on-year.
• Investment in R&D increased by 463.6% to maintain competitive edge.

Negative

• None.

BEIJING, March 22, 2022 /PRNewswire/ -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading global holographic AR application technology provider, today announced that WIMI's brand WiMi Hologram Softlight has successfully obtained the Trademark registration certificate issued by United States Patentand Trademark Office. This trademark 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.

Mr. Shuo Shi, CEO of WIMI, commented, " We think the acquisition of the trademark registration certificate, on the one hand, helps the company to strengthen trademark protection overseas, which is conducive to strengthening the protection of the company's registered trademarks overseas, it can prevent the occurrence of infringement events, and safeguard the company's intellectual property rights and interests; On the other hand, it helps to improve the company's brand awareness in the international market and has positive significance for the development of the international market. WIMI is currently the world's leading holographic platform that has established a complete holographic technology research and development system, holographic content production and reserve system, and holographic commercialization system. The demand for AR and VR products will continue to grow with the popularity of Metaverse and technological breakthroughs. WIMI's holographic XR head-display products "WIMI Hologram SoftLight" and "WIMI HoloPluse LiDAR" have been licensed and approved by the FEDERAL Communications Administration to enter the U.S. market. In the first half of 2021, WIMI's global operating revenue increased by about 202.2% year on year, WIMI's gross profit increased by 189.8% year on year, WIMI's net profit increased by 40.3% year on year, and WIMI's R&D expenses increased by 463.6% year on year. WIMI is investing heavily in research and development to maintain its competitive edge in the Metaverse and holographic AR industries. With the widespread adoption of Metaverse, the holographic cloud and VR industry where WIMI is will see explosive growth. We will continue to create long-term value for the company's shareholders by taking advantage of the growth opportunities in the Metaverse market and continuing to improve our Metaverse product matrix and expand our Metaverse market share."

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.

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SOURCE WiMi Hologram Cloud Inc.

FAQ

What did WIMI announce on March 22, 2022?

On March 22, 2022, WIMI announced the acquisition of a trademark registration from the United States Patent and Trademark Office for its brand WiMi Hologram Softlight.

How much did WIMI's revenue increase in the first half of 2021?

WIMI's global operating revenue increased by approximately 202.2% year-on-year in the first half of 2021.

What is the significance of WIMI's trademark registration?

The trademark registration helps WIMI strengthen its intellectual property rights, prevent infringement, and enhance brand awareness in the international market.

What are WIMI's recent financial performance metrics?

In the first half of 2021, WIMI reported a gross profit increase of 189.8% and a net profit increase of 40.3% year-on-year.

What is WIMI's focus area in technology?

WIMI focuses on holographic AR applications, including 3D holographic pulse LiDAR and Metaverse-related technologies.