WiMi Announces Initiation of Coverage by Evaluate Research

 WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global holographic AR application technology provider, today announced that Evaluate Research has initiated research coverage of WiMi with a "Buy" rating and price target of US$7.00 per share. The report was authored by Sandy Mehta and Ketan Chaphalkar, analysts at Evaluate Research. The full report is available at https://evaluateresearch.com/wp-content/uploads/2022/03/WIMI-Hologram-Cloud-Inc.-Initiation-Report.pdf

Please note that any opinions, estimates, or forecasts regarding the performance of WiMi and its management made by Evaluate Research are theirs alone and do not represent the opinions, estimates, or forecasts of WiMi or its management. WiMi does not by this announcement or otherwise imply that the Company analyzes or approves of such information, conclusions, or recommendations.

About WIMI Hologram Cloud

WiMi Hologram Cloud, Inc. (NASDAQ: WIMI), whose commercial operations began in 2015, is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release, as well as the Company’s strategic and operational plans, contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

Contacts

WIMI Hologram Cloud Inc.Email: [e-mail]

ICR, LLCRobin YangTel: [phone]Email: [e-mail]