WiMi Hologram Cloud Inc. reported financial results for H1 2024. Total revenues increased 10% YoY to RMB 290.8M (USD 40.8M), driven by a 14% rise in AR service revenue to RMB 290.8M. Gross profit grew 8% to RMB 87.6M (USD 12.3M).The company swung to a net income of RMB 12.3M (USD 1.7M) from a net loss of RMB 18.4M in H1 2023. Operating expenses decreased 19% to RMB 90.9M, mainly due to lower R&D costs. Basic and diluted EPS was RMB 0.04 (USD 0.01) compared to a loss of RMB 0.01 per share last year.As of June 30, 2024, WiMi had cash, cash equivalents and short-term investments of RMB 1,162.0M (USD 163.0M). Net cash provided by operating activities was RMB 150.2M (USD 21.1M) for H1 2024, compared to net cash used of RMB 4.1M in H1 2023.

WiMi Hologram Cloud Inc. reported financial results for H1 2024. Total revenues increased 10% YoY to RMB 290.8M (USD 40.8M), driven by a 14% rise in AR service revenue to RMB 290.8M. Gross profit grew 8% to RMB 87.6M (USD 12.3M).The company swung to a net income of RMB 12.3M (USD 1.7M) from a net loss of RMB 18.4M in H1 2023. Operating expenses decreased 19% to RMB 90.9M, mainly due to lower R&D costs. Basic and diluted EPS was RMB 0.04 (USD 0.01) compared to a loss of RMB 0.01 per share last year.As of June 30, 2024, WiMi had cash, cash equivalents and short-term investments of RMB 1,162.0M (USD 163.0M). Net cash provided by operating activities was RMB 150.2M (USD 21.1M) for H1 2024, compared to net cash used of RMB 4.1M in H1 2023.