WiMi wins "2021 Best Growth Value" award at the 10th Annual China Finance Summit

WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading Hologram Augmented Reality ("AR") Technology provider, today announced that it has won the "2021 Best Growth Value" award (the "Award") at the 10thannual China Finance Summit (the "CFS"). The Company received the Award as a result of its strong brand influence and the public's excellent evaluation of the Company.

Established in 2012, the CFS is a prominent gathering of financial industry experts that is collectively organized by domestic financial and mass media outlets. CFS participants aim to share and combine their business knowledge as well as explore the drivers for China's economic transformation and development. These exchanges occur through various mediums of discourse, including keynote speeches, exclusive fireside chats, the sharing of insights, an awards ceremony, and an exhibition to showcase the brands of participating companies. As of today, the CFS has become one of the most influential platforms for distinguished practitioners in China's financial sector to exchange ideas.

Since commencing its commercial operations in 2015, WiMi has evolved into a leading provider of comprehensive holographic cloud solutions in China. The Company has established sophisticated systems to develop holographic AR technologies, produce and store holographic AR content, and commercialize AR-based holographic services and products. In China, as of December 31, 2020, WiMi owned 195 registered patents covering technologies for image processing and display, model input or output, and 3D modeling,325 registered software copyrights, and over 4,600pieces of ready-to-use AR holographic content that is of the highest quality and an industry-leading grade of simulation. The Company's revenues for the fiscal year ended December 31, 2020,were 766.0 million yuan (US$117.4 million), representing an increase of approximately 140.0% from 319.2 million yuan in the fiscal year 2019, as the Company's number of customers for its AR advertising services further increased to 294 and it launched its semiconductor business in the second half of the year.

WiMi has developed industry-leading holographic AR technologies such as 3D visualization and a comprehensive Software-as-a-Service ("SaaS") platform. By leveraging its cutting-edge computer vision algorithms in real time, WiMi can facilitate the visualization of high-resolution photorealistic product renderings on a pixel basis. The Company's holographic AR business customer base covers a wide range of industries, including advertising, entertainment, education, and telecommunications. Looking ahead, as holographic 5G communications, mobile broadband, and Internet of Things ("IoT") technologies continue to develop, WiMi expects the holographic cloud industry to experience exponential growth in turn.