WiMi Hologram Cloud Inc. (Nasdaq: WIMI), a leading provider of augmented reality (AR) hologram technology, has officially filed its annual report on Form 20-F for the fiscal year ending December 31, 2024, with the U.S. Securities and Exchange Commission (SEC). The report signals a notable financial turnaround, showcasing the company’s strategic execution and operational resilience.

Financial Highlights and Strategic Insights

1. Transition to Profitability

• WiMi reported a net income of RMB 103.3 million (USD 14.4 million) in 2024.

• A significant improvement from a net loss of RMB 510.4 million in 2023.

• Reflects effective operational strategies and efficient cost control.

2. Robust Cash Flow and Liquidity

• Cash and cash equivalents, including short-term investments, rose by:

  • RMB 1.14 billion, or 148.0% year-over-year.

  • From RMB 773.9 million in 2023 to RMB 1.92 billion (USD 266.9 million) in 2024.

• Positions the company for sustained growth, innovation, and strategic investment.

3. Strong Management and Strategic Direction

• The turnaround underscores WiMi’s capable leadership and adaptive strategy.

• The financial foundation enables the company to:

  • Pursue new development avenues

  • Expand R&D in hologram and AR technologies

  • Fuel future global expansion

4. Access to Full Financial Reports

• The complete audited consolidated financials are available on:

  • The SEC website: www.sec.gov

  • The WiMi Investor Relations site: ir.wimiar.com

• Printed copies can be requested via the Investor Relations Department in Beijing.

WiMi’s 2024 financial performance marks a powerful turnaround from prior-year losses, driven by effective strategic execution and operational focus. With robust liquidity and a renewed outlook, WiMi is well-prepared to continue innovating in the AR and holographic tech sectors.