NEW YORK, NY / ACCESSWIRE / March 25, 2020 /WIMI Hologram Cloud is going to IPO on NASDAQ Global Market. It shows the rapid growing of China's AR market. WIMI's holographic AR entertainment revenue increased by approximately RMB 7.7 million (USD 1.1 million), or 17.3%, from approximately RMB 44.0 million (USD 6.3 million) for the year ended December 31, 2018 to approximately RMB 51.7 million (USD 7.4 million) for the year ended December 31, 2019. The increase was primarily attributable to an increase in mobile games service fee recognized in 2019. The company has developed powerful, cutting-edge holographic AR technologies.
Since WIMI's inception, the company has devoted the majority of WIMI's research and development resources to software development. WIMI's software engineering team is responsible for building the company-wide software platform, supporting the integration of WIMI's products and applications within WIMI's cloud
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. 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. According to Frost & Sullivan, WIMI's speed of image processing is 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. 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 proprietary and licensed intellectual properties ("IP") 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 contents 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.
Name: Tim Wong
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