Capital Watch
WiMi Hologram Cloud Software Co. Ltd
Company Profile
Sector: Advertising and Entertainment
Industry: AR Technology
Sub-Industry: Holographic Cloud AR
Beijing WiMi Hologram Cloud Software Co. Ltd. is the largest holographic augmented reality (AR) platform in China. The company provides holographic cloud services and products supported by AR technologies to enterprises across industries.
WiMi’s two main lines of business are holographic AR advertising and holographic AR entertainment, with the former generating 80.5 percent of the total revenue last year. While the majority of its business is conducted in China, the company has expanded internationally and plans to continue its growth overseas.
WiMi’s software enables users to insert into video footages real or animated three-dimensional objects that integrate within the surroundings. Its entertainment line offers payment middleware software, game distribution and holographic mixed reality (MR) software. WiMi has developed real-time computer vision algorithms to perform the visualization of photorealistic high-resolution renderings and uses original cloud architecture for flexible work and user experience. The company also uses data mining and user behavioral data analytics to build user profiles.
Founded in 2015, WiMi now operates the largest integrated holographic AR platform in terms of revenue and content in China. Its extensive portfolio counts 4,654 AR holographies. The company has also achieved a speed of image processing that is 80 percent faster than the industry average. While most rivaling companies may identify and capture 40 to 50 blocks of image data within a specific space unit, WiMi collects 500 to 550 data blocks.
In 2018, WiMi had 121 customers with an average revenue per customer at 1.5 million yuan. It reported revenue of $32.8 million for last year on income of $13 million. In the first quarter of 2019, WiMi had revenue of $11.7 million, an increase of 59 percent year-over-year, on $5.6 million in profit.
Protective of its IP, WiMi owns 147 software copyrights and 132 patents in holographic AR. WiMi aims to become the creator of the largest holographic AR ecosystem in China.
Corporate Information
No. 6, Xiaozhuang,1-F
Chaoyang District, Beijing,
China 100020
+86 105-3384913
Key Executives
Mr. Jie Zhao, Founder and Chairman
Mr. Jie Zhao possesses deep entrepreneurship and extensive expertise in the internet industry and has been serving as the chairman of WiMi’s board of directors since inception. Previously, Mr. Zhao served as a director of Xiangtong Animation Group, one of the earliest Chinese companies in mobile animation development. Overall, he counts more than 10 years of experience in company management. Mr. Zhao holds a bachelor's degree from Wuhan University of Technology and a master's degree from Tsinghua University in China.
Mr. Fanhua Meng, CEO and General Manager
Mr. Fanhua Meng has more than 10 years of senior management experience in mobile internet and software companies. Before joining Beijing WiMi in October 2015, he served as the general manager of Tonglian Tiandi Technology and Zhangxing Infinite Technology. Mr. Meng holds a bachelor's degree from Dongbei University in China, an MBA from Nankai University and an EMBA from China Europe International Business School in China.
Mr. Yanghua Yang, CFO
Mr. Yanghua Yang, the chief financial officer of Beijing WiMi since January 2018, has worked in audit and finance for more than 10 years. Formerly, he was the vice general manager of a Chinese venture capital firm, Tianhou Dide Investment Management, and prior to that served as a project manager at the U.S. branch of a global accounting network, BDO International. Mr. Yang received a bachelor's degree from Hainan University.
Investor FAQs
1. When is WiMi established?
The company commenced its commercial operations in May 2015 through Beijing WiMi Hologram Cloud Software Co., Ltd. (previously under the name "WiMi Lightspeed Capital Investment Management (Beijing) Co., Ltd."), or Beijing WiMi. 
2. When does WiMi's fiscal year end?
WiMi's fiscal year ends on December 31.
3. On which exchange is WiMi's stock traded and what is the ticker symbol?
WiMi's American Depositary Shares (ADSs) will be listed on the Nasdaq Global Select Market under the symbol "WIMI."
4. How many Wimi's ordinary shares does one American Depositary Share ("ADS") of the Company represent?
Each ADS represents two of our Class B ordinary shares.
5. How can I obtain a copy of WiMi's Annual Report?
Annual reports are available via this website. All SEC documents are also accessible online through the SEC Filings page.
6. Who is WiMi's US legal counsel?
Ellenoff Grossman & Schole LLP.
7. Who is WiMi's Depositary Bank for ADSs?
JPMorgan Chase Bank.
8. Who are WiMi’s underwriters?
Listed underwriters on the deal are Benchmark Company LLC, Maxim Group LLC, China Merchants Securities (HK) Co. Ltd., AMTD Global Markets Ltd., BOCI Securities Ltd., Everbright Sun Hung Kai Company Ltd., GF Securities (Hong Kong) Brokerage Ltd. and Axiom Capital Management Inc.
9. What is the use of IPO proceeds?what is the use of IPO proceeds?
WiMi intends to use 40 percent of the proceeds from its IPO for research and development. The scope of holography-based research includes facial recognition, artificial intelligence facial change, digital life system, education intellectual properties, navigation system for cars, shopping systems and tourism navigation system. Another 40 percent will be distributed for acquisitions and investments, while the rest of the proceeds will be used for general corporate purposes.
Key Eexcutives
Mr. Chengwei Yi, CTO
Mr. Chengwei Yi joined Beijing WiMi in August 2015 and became WiMi’s chief technology officer and director in September 2018. He has 16 years of experience working in mobile internet services, advertising, games and applications with a focus on video processing, artificial intelligence and signal processing technology. Previously, Mr. Yi was the general manager of Yitian Internet. He holds a bachelor's degree from Shenyang University of Technology. Mr. Yi is also an EMBA candidate from China Europe International Business School.
Mr. Shuo Shi, COO
Mr. Shuo Shi has been serving as WiMi’s chief operating officer since September 2018, previously the vice general manager of Beijing WiMi since February 2017. Formerly, he served as secretary-general of Shenzhen Three-Dimension Film Association, which specializes in 3D film making in China. He also served as the vice general manager of Shenzhen Stereoscopic Internet Culture Media Company. In all, Mr. Shi has more than 10 years of experience in sales marketing, internet management and culture media. He received a bachelor's degree from Renmin University in China in 2006.
IR Contacts
In the United States:
Ms. Honglan Cheng, Selina
Head of Investor Relations
Tel: +1-650-799-7109