- WiMi Hologram Cloud Inc. (WIMI, Financial) reports a net income of RMB 103.3 million (USD 14.4 million) for 2024, reversing a previous year's net loss.
- Cash and short-term investments increased by 148% to RMB 1.92 billion (USD 266.9 million), strengthening the company's financial position.
- The improved liquidity allows WiMi to pursue new development opportunities and invest in innovation and research.
WiMi Hologram Cloud Inc. (Nasdaq: WIMI), a leader in hologram augmented reality technology, has filed its annual report on Form 20-F for the fiscal year ending December 31, 2024, with the SEC. The company reported a notable turnaround, achieving a net income of RMB 103.3 million (USD 14.4 million) compared to a net loss of RMB 510.4 million in 2023.
WiMi's financial position has significantly strengthened, with cash and cash equivalents, along with short-term investments, increasing by 148% to RMB 1.92 billion (USD 266.9 million) from the previous year's RMB 773.9 million. This enhanced liquidity provides the company with the ability to explore new growth opportunities and invest in innovation and research within the AR technology sector.
The 2024 financial results underscore WiMi's effective operational strategies and strong management, positioning it for potential market expansion in the rapidly evolving hologram and augmented reality industry. The annual report is accessible on the SEC's and the company's investor relations websites.
