WiMi Hologram Cloud Joins the Information Technology Innovation Committee of China Communications Industry Association

BEIJING, May 31, 2022 /PRNewswire/ -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that it had joined the Information Technology Innovation Committee of China Communications Industry Association (CCIAITIC) after a three-month rigorous evaluation of technical indicators. WiMi had become a member of the committee and obtained the member unit certification issued by the China Communications Industry Association, which again demonstrated that the Company has a solid ability to engage in holographic AR and information software services.

China Communications Industry Association ("CCIA" or the "Association") is registered with the Ministry of Civil Affairs of the People's Republic of China (MCA). It is guided by the Ministry of Industry and Information Technology (MIIT) in its business. It plays the role of a bridge and an assistant between enterprises and the government, continuously promotes the technological innovation of China's communication industry, and goes out of the country. It promotes the development of the industry and makes continuous efforts to prosper the economic development of China's communication sector. The Association is in the charge of MIIT. Under the guidance of MIIT, the Association carries out industry management, information exchange, business training, international cooperation, and consulting services. It aims to promote the technical progress of the industry, improve product quality, strengthen economic and technical cooperation between enterprises and institutions, tighten the connections and improve the quality of member units and their economic benefits. The Association also promotes communication products to meet the growing demand at home and abroad to enhance the competitiveness in the international market.

To promote the development of China's communications industry in the field of national information technology innovation, and to accelerate the integration and growth of new-generation information technology and its innovation, such as 5G communications and metaverse, Internet of Things, East Digital West Computing, blockchain, artificial intelligence, the establishment of CCIAITIC has been approved by MCA and MIIT. CCIAITIC is a subsidiary organization.

WiMi's admittance to CCIAITIC proves its overall comprehensive strength. WiMi is currently the leading holographic platform in China and has established a complete holographic technology research and development system, holographic content production and reserve system, and holographic commercialization system. The Company has 195 technology patents related to image processing and display, model input/output, 3D modeling, and 325 software copyrights. It has produced more than 4,600 high-quality, high-fidelity holographic contents. WiMi's Holographic XR Head-Mounted Display Device "WiMi Hologram SoftLight", Holographic AR Head-Mounted Display Device "WiMi HoloAR Lens", and its Holographic Lidar "WiMi HoloPulse LiDAR", have all been licensed and approved by the Federal Communications Commission to enter the U.S. market.

In the future, WiMi will seize this opportunity to further strengthen and accelerate the continuous innovation in 5G communication, holographic AR, metaverse, artificial intelligence, and information software development.

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, metaverse holographic AR/VR equipment, metaverse holographic cloud software, 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, metaverse holographic AR technology, metaverse virtual cloud service 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 Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such 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 and 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 US 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. Several 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 the 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. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

SOURCE WiMi Hologram Cloud Inc.