The Company offers AR-based holographic services and products to cater to its customers' needs, focusing on providing an innovative, immersive and interactive holographic AR experience for its customers and end users.
The Company engages in the provision of central processing algorithm services and computer chip products to enterprise customers and the sales of comprehensive solutions for central processing algorithms and related services with software and hardware integration. Its AR service and product offerings primarily consist of holographic AR advertising services and holographic AR entertainment products. The core of its holographic AR business is holographic AR technologies used in software engineering, content production, cloud and big data.
The Company has determined that it has three operating segments: (1) AR advertising services, (2) AR entertainment and (3) semiconductor related products and services.
HISTORY:
2015 The Company commenced commercial operations in May 2015 through Beijing WiMi Hologram Cloud Software Co., Ltd. (previously under the name WiMi Lightspeed Capital Investment Management (Beijing) Co., Ltd. ), or Beijing WiMi. In addition, Beijing WiMi acquired 100 equity interest in Shenzhen Yidian Internet Technology Co., Ltd, or Shenzhen Yidian, on October 21, 2015, Shenzhen Yitian Hulian Internet Technology Co., Ltd., or Shenzhen Yitian, on August 20, 2015 and Shenzhen Kuxuanyou Technology Co., Ltd., or Shenzhen Kuxuanyou on August 26, 2015.
2016 In February 2016, Beijing WiMi formed a wholly-owned subsidiary, Micro Beauty Lightspeed Investment Management HK Limited in Hong Kong.
2018 The Company was incorporated on August 16, 2018, under the laws of the Cayman Islands. The Company has no substantive operations other than holding all of the outstanding share capital of Wimi Hologram Cloud Limited ( Wimi HK ) which was established in Hong Kong on September 4, 2018. Wimi HK is also a holding company holding all of the outstanding equity of Beijing Hologram Wimi Cloud Network Technology Co., Ltd. ( Wimi WFOE ) which was established on September 20, 2018 under the law of the People s Republic of China.
2020 ADSs have been listed on the Nasdaq Global Market since April 1, 2020 under the symbol “WIMI.” Each ADS represents two Class B ordinary shares, US 0.0001 per share.
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