WiMi Hologram Cloud | 20-F: FY2024 Annual Report

WiMi Hologram Cloud reported annual revenue of RMB 541.9M ($75.4M) in 2024, compared to RMB 585.4M in 2023 and RMB 682.3M in 2022. The company's revenue distribution showed a strong domestic focus, with Mainland China contributing RMB 415.2M (76.6%) and Hong Kong accounting for RMB 126.7M (23.4%) of total revenue.The company has streamlined its operations by consolidating into a single business segment focused on AR advertising services, which now represents 100% of revenue. This strategic shift marks a departure from its previous structure that included AR entertainment and semiconductor business segments, with the latter being discontinued.Looking ahead, WiMi has implemented significant corporate actions in 2025, including a 20-for-1 reverse stock split and an increase in authorized share capital to $1.5M. The company expanded its equity incentive plan with 26.4M additional Class B shares and increased its stake in MicroAlgo to 67.65%. These moves are subject to PRC regulatory oversight and foreign exchange restrictions, with the company maintaining RMB 276.8M in restricted assets.

WiMi Hologram Cloud reported annual revenue of RMB 541.9M ($75.4M) in 2024, compared to RMB 585.4M in 2023 and RMB 682.3M in 2022. The company's revenue distribution showed a strong domestic focus, with Mainland China contributing RMB 415.2M (76.6%) and Hong Kong accounting for RMB 126.7M (23.4%) of total revenue.The company has streamlined its operations by consolidating into a single business segment focused on AR advertising services, which now represents 100% of revenue. This strategic shift marks a departure from its previous structure that included AR entertainment and semiconductor business segments, with the latter being discontinued.Looking ahead, WiMi has implemented significant corporate actions in 2025, including a 20-for-1 reverse stock split and an increase in authorized share capital to $1.5M. The company expanded its equity incentive plan with 26.4M additional Class B shares and increased its stake in MicroAlgo to 67.65%. These moves are subject to PRC regulatory oversight and foreign exchange restrictions, with the company maintaining RMB 276.8M in restricted assets.