WiMi Hologram Cloud Clocks 202% Revenue Growth In 1H

Holographic augmented reality (AR) comprehensive technology provider WiMi Hologram Cloud Inc WIMI reported revenue growth of 202.2% year-on-year to $79.9 million for the six months ended June 30, 2021.
The gross profit expanded 189.8% Y/Y to $23.7 million. The margin contracted 125 bps to 29.7%.
The R&D expenses increased 463.6% Y/Y to $13.3 million. The net income rose 40.3% Y/Y to $5 million.
The demand for 3D vision in holographic AR applications is growing rapidly, reflecting the vast market potential of the holographic AR business, CEO Shuo Shi said.
Around 53.1% of the revenue came from the semiconductor business.
Price Action: WIMI shares traded higher by 13.3% at $4.00 in the premarket session on the last check Wednesday.

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