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WIMI Hologram Cloud, the Cutting-Edge Holographic AR Technology Company, Announces Closing of Underwritten IPO on NASDAQ

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WIMI Hologram Cloud, the Cutting-Edge Holographic AR Technology Company, Announces Closing of Underwritten IPO on NASDAQ

April 08
18:15 2020

WIMI Hologram Cloud, the cutting-Edge holographic AR technology company, announced the closing of its previously announced underwritten initial public offering of 4,750,000 American Depositary Shares (“ADSs”), each representing two Class B ordinary shares of the Company. The company has developed powerful, cutting-edge holographic AR technologies.

Holographic Image Processing and Recognition Intelligence Technology

The company insert holographic AR advertisements into online videos based on WIMI’s imaging detection and recognition technology, template matching and detection technology, video processing and recognition technology, holographic 3D layer replacement technology in imaging recognition and dynamic fusion processing technology in imaging tracking. The company expects that these technologies will be applied to WIMI’s future strategic blueprint, such as the development and application of holographic 3D facial recognition technology and holographic facial change technology.

Development and Application in Holographic 3D Facial Recognition Technology

The development of holographic 3D facial recognition software is based on WIMI’s holographic imaging featured imaging detection and recognition technology, template matching holographic imaging detection technology, and deep learning and training based video processing and recognition technology. Traditional 2D facial recognition technology is a biographic recognition technology based on facial features, which captures the information from the facial images or facial video streaming, and automatically detects and tracks the targeted face. By contrast, the company believes WIMI’s holographic 3D facial recognition technology is a biographic recognition technology consisting of a combination of holographic imaging capture and 3D portrait. The company focuses on the development and application of WIMI’s software technology and has technologies in AI, machine recognition, machine learning, model theory, and video imaging processing. Holographic 3D facial recognition technology is a technology using the collection of structured light and infrared light, and the collected featured points can exceed 30,000 points. By contrast, the collected featured points for traditional 2D facial recognition technology is less than 1,000 points. WIMI’s 3D technology is also expected to be less affected by the surrounding environment and is expected to overcome many of the issues found in traditional 2D facial recognition technology, such as light, posture, occlusion, dynamic recognition and facial expression, etc.

Development and Application of Holographic Facial Change Technology

Holographic facial change technology is based on WIMI’s holographic 3D layer replacement technology involving image recognition and dynamic fusion processing technology based on AI, tracking images in real time and replacing faces with other faces. This technology replaces faces in video frames, synthesizing the video and adding the original audio. The company has validated these technology modules in holographic AR plug-in advertisement applications and continues to develop and upgrade these technology modules. The company believes this technology will bring new business growth to applications such as celebrity advertising, film distribution, and live video streaming.

Content Production

WIMI’s leading holographic AR content production capabilities are built around image acquisition, object recognition, automated image process, and computer vision technologies. WIMI’s software engineering team and visualization design team work closely to consistently advance such visualization-related technologies, and harness them to design and produce innovative holographic AR contents. Through real-time computer vision algorithms which provide an accurate pose estimation, the company are able to perform scene recognition and tracking within seconds. Such cutting-edge algorithms also allow us to perform visualization of photorealistic high-resolution renderings of products on a pixel basis. According to Frost & Sullivan, while most peer companies may identify and capture 40 to 50 blocks of image data within a specific space unit, the number of data blocks the company can collect reaches 500 to 550. According to Frost & Sullivan, WIMI’s speed of image processing rises to 80% faster than the industry average, leading to improved operation efficiency. In the course of scene reconstruction, WIMI’s automated image processing tools can perform noise cleaning and feature enhancement on the image the company initially captured, enabling us to create best-in-class holographic AR designs with an industry-leading simulation degree.

The company has built a comprehensive holographic AR content library as compared to WIMI’s peers in China, according to Frost & Sullivan. The formats of WIMI’s holographic AR contents range from 3D models to holographic short videos. As of June 30, 2019, the company owned 4,654 ready-to-use AR holographic contents that were available to be adapted to WIMI’s holographic AR products and solutions covering a wide category, including animals, cartoon characters, vehicles and foods. Among them, 2,961 were for education scenarios, 851 for tourism, 739 for arts and entertainment and 103 for popular science. In addition, WIMI’s content library is also enriched by copyrighted content that the company has licensed from third parties. The company cooperates with various content owners, including brands, film producers and talent agencies, to adapt high-quality, popular IPs into holographic AR formats.

Safe Harbor / Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the proposed initial public offering. The offering is subject to market and other conditions and there can be no assurance that the offering will be completed or as to the actual size or terms of the offering. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, risks associated with the cash requirements of WIMI’s business and other risks detailed in the Company’s registration statement, and represent the Company’s views only as of the date they are made and should not be relied upon as representing WIMI’s views as of any subsequent date. The Company does not assume any obligation to update any forward-looking statements except as required by law.

* This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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