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WIMI Hologram Cloud is Setting Up a JV to Explore Opportunities in the Semiconductor Sector

WIMI Hologram Cloud Inc.("WIMI" or the "Company") (NASDAQ: WIMI), today announced that its wholly-owned Hong Kong subsidiary, WiMi Hologram Cloud Limited ("WiMi Hong Kong")is setting up a joint-venture to explore opportunities in the se

Benzinga · -
WIMI Hologram Cloud Inc.("WIMI" or the "Company") (NASDAQ: WIMI), today announced that its wholly-owned Hong Kong subsidiary, WiMi Hologram Cloud Limited ("WiMi Hong Kong")is setting up a joint-venture to explore opportunities in the semiconductor sector. The Company believes that the application demand of holographic 3D vision in the semiconductor sector is growing rapidly, representing huge market potentials. The establishment of the joint-venture is conducive to the expansion of the semiconductor sector and the rapid integration of market resources. Furthermore, it will facilitate the Company's strategies of extending the holographic 3D vision software from the application layer to the chip field and combining software and hardware through the holographic 3D vision software solution, namely, the strategic derivative upgrade to the semiconductor sector.The Company has accumulated technological capabilities in the field of holographic 3D visual software technology, with hundreds of related patents and software copyrights. In the future,the Company plans to explore opportunities in the semiconductor sector through integrating with IC design companies with core technology advantage, or through establishing are search and development joint venture with chip factory to implement the supply chain upstream of the semiconductor research and development design, technical service and, marketing strategies. In addition to facilitating the rapid growth of the Company's performance, the Company believes that integration with high-quality semiconductor assets or cooperation with chip companies with strong technology will greatly enhance the Company's competitiveness and consolidate the Company's position in the industry of holographic 3D vision software application, thus supporting the its sustained growth in the medium and long term. At present, many technology companies, such as Qualcomm, Mediatek, Nvidia and other companies, have explored opportunities in artificial intelligence, 5G technology, the Internet of things, and other ecological systems. The market demand for upstream suppliers is no longer limited to simple electronic components or products supply. The market has put forward higher requirements of the suppliers' technical service ability, as well as their ability to provide comprehensive solutions and one-stop value-added services. With the increasing demand for holographic 3D vision-related semiconductor application solutions, the Company plans to combine holographic 3D vision application demand scene to provide corresponding semiconductor solutions to meet the market demand, and promote the application and popularization of holographic 3D vision technology in the semiconductor sector. WIMI plans to invest in the semiconductor sector,acquire semiconductor assets and cooperate with chip factory in the future, so as to enhance the Company's technical service capability and retain current customers.At the same time, based on higher added value of technology, the Company will continue to improve its revenue capacity. In the next three years, the Company expects that the joint venture will develop relevant operations in the semiconductor sector, and WIMI is expected to embrace a new development.