NEW YORK, NY / ACCESSWIRE / March 24, 2020 / WiMi Hologram Cloud, one of the largest holographic AR content producers in China, filed a preliminary prospectus with the SEC in March 20, 2020. Currently, the company's offerings consist primarily of (i) holographic AR advertising services and (ii) holographic AR entertainment products. WIMI Hologram IPOs on Nasdaq will help China AR market to Global Capital.
In 2018, WIMI had 36 customers that each accounted for more than RMB 1.5 million of its revenues in its AR advertising services business. WIMI had 20 such customers in 2017. During the six months ended June 30, 2019, WIMI had 28 customers that each accounted for more than RMB 1.5 million of its revenues in its AR advertising services business, as compared to 24 such customers during the six months ended June 30, 2018. Among all its customers, the rate of customers who contributed more than RMB 1.5 million revenues in its AR advertising service was 20.6% in 2017 and increased to 29.8% in 2018. Such rate has increased to 27.72% during the six months ended June 30, 2019, as compared to 23.30% during the six months ended June 30, 2018.
Through its proprietary image and video recognition technologies, its software enables users to analyze the underlying video footages at a pixel level to identify ad spaces that can be augmented by 3D objects. Advertisers and their agencies purchase these ad spaces through application programming interface, or APIs, integrated with its systems, specifying their target audience and budgets and typically providing the 3D models to be embedded in the videos. When the ad space is detected and 3D objects are generated, the 3D objects are embedded into the underlying streaming videos automatically on a batch-processing basis as determined by its software.
Holographic AR Entertainment Products
Its holographic AR entertainment products consist primarily of payment middleware software, game distribution platform and holographic mixed reality ('MR') software.
Payment middleware is a software solution that connects mobile apps to payment channels, giving mobile app users convenient access to a wide range of online payment options. WIMI has cooperated with more than 55 app developers and its payment middleware has been embedded to over 1,100 marketed mobile apps of over 300 customers in 2018, most of which were featured by AR functions.
Its advanced payment middleware streamlines the often time-consuming mobile payment process. Its mobile payment middleware facilitates app developers to build an in-app payment infrastructure that allows micropayments to be made or received through an efficient, secure system, without any interface redirection. Such mobile payment middleware enables app developers to store users' payment credentials in a trusted and safe environment and eases user's burden of repeatedly entering and authenticating payment information for each transaction.
Its payment middleware can be fully integrated with various types of mobile apps, especially those employing AR technologies, such as live streaming, gaming, selfie, photo editing, and video-sharing apps. Currently, its payment middleware supports substantially all of the major online payment channels in China, and is compatible with the mainstream mobile operating systems.
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