WiMi Wins “2021 Best Growth Value” Award at the 10th Annual China Finance Summit

ETC

BEIJING, July 28, 2021 /PRNewswire/ — 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, WiMiowned195registered 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 RMB766.0 million (US$117.4 million), representing an increase of approximately 140.0% from RMB319.2 million 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.

About WIMI Hologram Cloud

WiMi Hologram Cloud, Inc. (Nasdaq: WIMI), whose commercial operations began in 2015, 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 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 communication and other holographic AR technologies. For more information, please visit http://ir.wimiar.com.

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 terminologysuch 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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