MicroCloud Hologram (NASDAQ:HOLO) stock is taking off on Thursday as the holographic technology services company’s shares experience strong pre-market trading this morning.That has more than 6.7 million shares of HOLO stock changing hands as of this writing. This is quickly closing in on the company’s daily average trading volume of about 9 million shares.It’s also worth mentioning that HOLO stock has a float of 5.74 million shares. This implies that MicroCloud Hologram may be seeing a short squeeze on Thur ...

MicroCloud Hologram (NASDAQ: HOLO) stock price went through a short squeeze this week after the company published its annual report. It soared by more than 21.6% on Wednesday’s regular session and continued the upside in the post-market session. This rally brought its market cap to over $15 million.MicroCloud’s rally happened in a high-volume environment. Data by Yahoo Finance shows that the volume on Wednesday stood at 13.9 million shares, up from 3.75 million on Tuesday.  MicroCloud’s results showed that ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR Date of event requiring this shell company report ________ For the transition period from ________ to ________ Commission file number 001-40519 MicroCloud Hologram Inc. (Exact name of R ...

Exhibit 99.1 MICROCLOUD HOLOGRAM INC. AND SUBSIDIARIES UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS | | December 31, | June 30, | June 30, | | --- | --- | --- | --- | | | 2022 | 2023 | 2023 | | | RMB (Audited) | RMB | USD | | ASSETS | | | | | CURRENT ASSETS | | | | | Cash and cash equivalents | 151,119,985 | 136,273,128 | 18,859,244 | | Accounts receivable, net | 80,352,463 | 65,412,415 | 9,052,619 | | Prepayments and other current assets | 6,169,398 | 10,256,886 | 1,419,481 | | Due from related ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No. 001-40519 MicroCloud Hologram Inc. (Exact name of registrant as specified in its charter) | Cayman Islands | Not Applicable | | --- | ...

Revenue and Cost Breakdown - Total operating revenues for 2022 were $72.51 million, with services contributing $53.99 million (74.5%) and products contributing $18.52 million (25.5%)[374] - Cost of revenues for 2022 was $39.33 million, with services accounting for $24.00 million (61.0%) and products accounting for $15.33 million (39.0%)[375] - Total operating revenues increased by 28.8% from $56.3 million in 2021 to $72.5 million in 2022[427] - Products revenues grew by 15.4% from $16.0 million in 2021 to $18.5 million in 2022, driven by demand for holographic solutions[427] - Services revenues increased by 34.2% from $40.2 million in 2021 to $54.0 million in 2022, due to advertising and promotion services[427] - Cost of revenue increased by 130.7% from $17.0 million in 2021 to $39.3 million in 2022, driven by a 481.6% increase in service costs to $24.0 million[428] - Gross profit decreased by 15.4% from $39.2 million in 2021 to $33.2 million in 2022, with gross margin dropping from 69.7% to 45.8%[429] Expenses and Profitability - Selling expenses as a percentage of revenues were 1.8% for 2022, compared to 1.5% in 2021[376] - General and administrative expenses as a percentage of revenues decreased to 4.7% in 2022 from 5.6% in 2021[377] - Research and development expenses as a percentage of revenues increased significantly to 67.9% in 2022 from 40.5% in 2021[378] - Research and development expenses surged to $49.2 million in 2022, up from $22.8 million in 2021[426] - Research and development expenses increased by 115.8% from $22.8 million in 2021 to $49.2 million in 2022, driven by advancements in holographic LiDAR technology, holographic algorithm architecture, and other innovative technologies[433] - Selling and marketing expenses rose by 58.9% from $0.8 million in 2021 to $1.3 million in 2022, reflecting expanded business development efforts[431] - General and administrative expenses increased by 8.3% from $3.1 million in 2021 to $3.4 million in 2022, supporting business expansion[432] - Net loss of $20.3 million in 2022 compared to a net income of $12.8 million in 2021[426] - The company reported an operating loss of $21.1 million in 2022, compared to an operating income of $12.4 million in 2021[434] - Net loss for 2022 was $20.3 million, a significant decline from the net income of $12.8 million in 2021[439] Tax and Regulatory Environment - The company's subsidiaries in China benefit from preferential tax rates, with some entities enjoying a reduced income tax rate of 15% due to high-tech enterprise status[382] - Tax savings for entities in Xinjiang province and those eligible for small enterprise and high-tech enterprise status amounted to $186,403 for 2022[385] - Three subsidiaries (Shanghai Mengyun, Shenzhen Mengyun, Shenzhen Bowei) benefit from a reduced income tax rate of 15% due to High and New Technology Enterprise Certification[284] - Subsidiaries in Horgos and Kashgar enjoy a 5-year income tax exemption, followed by a reduced rate of 12.5% for an additional 3 years[285] - Eligible small enterprises benefit from reduced tax rates, with effective rates of 2.5% for income up to RMB 1,000,000 and 5% for income between RMB 1,000,000 and RMB 3,000,000[286] - Potential PRC tax resident enterprise classification could subject the company to a 25% worldwide income tax rate, impacting net income[278] - Non-PRC resident shareholders may face a 10% withholding tax on dividends and a 20% tax on gains from share sales if income is sourced within the PRC[280] - The company is not currently subject to cybersecurity review by the CAC due to limited personal information handling and no national security impact[267] - The company has not been identified as a "critical information infrastructure operator" or "data processing operator" by Chinese authorities[268] - The company’s operations fall within MOFCOM-permitted activities and are not subject to foreign investment restrictions[271] Revenue Recognition Policies - The company's revenue recognition for Holographic Technology LiDAR products is recognized at the point in time when control of products is transferred to customers, with no right of return on sales of inventory[408] - Revenue from ADAS software development contracts is recognized over time based on progress towards completion, with $384,489 and $67,535 allocated to unsatisfied performance obligations as of December 31, 2022 and 2021, respectively[409] - Holographic Technology Licensing and Content Products revenue is recognized at the point in time when control of products or services is transferred to customers, with no post-contract customer support provided[412] - Hardware sales revenue is recognized on a gross basis as the company acts as the principal, with revenue recognized at the point in time when products are delivered and accepted by customers[413][414] - Holographic advertisements revenue is recognized at the point in time when agreed actions are performed, with the company acting as the principal under the CPA model[415] - SDK service revenue is recognized at the point in time when a user completes an SDK connection, with service fees billed monthly on a per-connection basis[416] - Game promotion service revenue is recorded on a net basis as the company acts as an agent, with revenue recognized at the point in time when game players make a payment to purchase virtual currency[417] - The company adopted ASC Topic 606 for revenue recognition effective January 1, 2019, using the modified retrospective adoption method[407] Cash Flow and Financial Position - Cash and cash equivalents stood at $21.9 million as of December 31, 2022, with working capital of approximately $23.0 million[444] - Net cash used in operating activities was $20.0 million in 2022, compared to net cash provided by operating activities of $16.2 million in 2021[448] - Net cash provided by financing activities in 2022 was $33.3 million, primarily due to proceeds from capital contribution in reverse capitalization[455] - The company received net cash proceeds of $33.2 million from the Business Combination in September 2022[445] - Net cash provided by investing activities in 2022 was $1.7 million, primarily due to loan repayments from third parties[453] - Net interest income was $0.2 million in 2022, up from $0.1 million in 2021[436] Technology and Intellectual Property - The company owns 2,218 works of copyright as of December 31, 2022, maintaining a significant market-leading position in China[362] - The company's holographic digital twin technology and resource library have the potential to become the new norm for the digital twin augmented physical world in the near future[362] - The company's holographic technology services include high-precision holographic LiDAR solutions, holographic LiDAR sensor chip design, and holographic vehicle intelligent vision technology[362] Impairments and Investments - The company recorded $237,777 in impairment for investments in unconsolidated entities for the year ended December 31, 2022, compared to nil in 2021[401] - The company recorded a change in fair value of warrant liability of $0.7 million in 2022, compared to nil in 2021[435] Noncontrolling Interests and Leases - The company's noncontrolling interests represent 44% ownership in Ocean HK and its subsidiaries, with allocations of total income or loss presented in the consolidated statement of income[404] - Operating lease ROU assets recognized at $0.6 million and total lease liabilities of $0.6 million as of December 31, 2022[423] Allowances and Provisions - Provision for doubtful accounts surged by 446.9% from $0.1 million in 2021 to $0.4 million in 2022 due to increased allowances for customer exposures[430] - Valuation allowance for deferred tax assets is assessed based on forecasts of future profitability and tax planning strategies[425]

Revenue Performance - For the three months ended September 30, 2022, total operating revenues reached RMB 172,453,161 (approximately US$ 24,243,082), a significant increase from RMB 54,044,387 in the same period of 2021[222]. - Total operating revenues increased by approximately 219.1% from RMB 54.0 million for the three months ended September 30, 2021, to RMB 172.5 million (US$ 24.2 million) for the same period in 2022[275]. - Total operating revenues increased by approximately 56.1% from RMB 272.0 million for the nine months ended September 30, 2021 to RMB 424.6 million (US$ 60.0 million) for the nine months ended September 30, 2022[288]. - Services revenues surged by approximately 304.6% from RMB 37.7 million to RMB 152.5 million (US$ 21.4 million), driven by higher demand for advertising and promotion services[275]. - Products revenues increased by approximately 22.2% from RMB 16.4 million to RMB 20.0 million (US$ 2.8 million) due to increased demand for holographic solutions[275]. Cost and Expenses - The cost of revenues for the three months ended September 30, 2022, was RMB 105,442,629 (61.2% of total revenues), compared to RMB 17,640,958 (32.6%) in Q3 2021, reflecting increased service costs[223]. - Cost of revenue increased by approximately 497.7% from RMB 17.6 million to RMB 105.4 million (US$ 14.8 million) for the same period[276]. - Cost of services skyrocketed by approximately 1,863.4% from RMB 4.6 million to RMB 90.5 million (US$ 12.7 million) due to increased outsourcing and content provider costs[276]. - Operating expenses totaled RMB 59.7 million (US$ 8.4 million) for the three months ended September 30, 2022, compared to RMB 29.7 million for the same period in 2021[274]. - Research and development expenses increased by approximately 150.6% from RMB 19.6 million for the three months ended September 30, 2021 to RMB 49.0 million (US$ 6.9 million) for the three months ended September 30, 2022[281]. - Selling expenses as a percentage of revenues decreased from 2.6% in Q3 2021 to 1.3% in Q3 2022, suggesting better cost management in sales operations[224]. - General and Administrative expenses as a percentage of revenues significantly dropped from 14.8% in Q3 2021 to 3.6% in Q3 2022, highlighting enhanced operational efficiency[225]. Profitability - Gross profit increased by approximately 84.1% from RMB 36.4 million to RMB 67.0 million (US$ 9.4 million) for the three months ended September 30, 2022[277]. - Gross margin decreased from 67.4% to 38.9% as outsourcing costs rose faster than revenue increases in advertising and promotion[277]. - Net income attributable to shareholders was RMB 9.1 million (US$ 1.3 million) for the three months ended September 30, 2022, compared to RMB 7.0 million for the same period in 2021[274]. - Net income increased from approximately RMB 7.0 million to RMB 11.8 million (US$ 1.7 million) for the three months ended September 30, 2021 and 2022, respectively[287]. - The net income for the nine months ended September 30, 2022, was RMB 48.4 million (US$ 6.8 million), with a significant difference from net cash provided by operating activities primarily due to adjustments in non-cash items and changes in working capital[314]. Cash Flow - Cash and cash equivalents increased from RMB 44.2 million to RMB 334.1 million (US$ 47.0 million) as of September 30, 2022[307]. - Net cash provided by operating activities decreased from RMB 126.6 million to RMB 34.7 million (US$ 4.9 million) for the nine months ended September 30, 2021 and 2022, respectively[312]. - For the nine months ended September 30, 2022, net cash provided by operating activities was RMB 34.7 million (US$ 4.9 million), compared to RMB 126.6 million for the same period in 2021[314][315]. - Net cash provided by investing activities for the nine months ended September 30, 2022, was RMB 15.2 million (US$ 2.1 million), mainly from loan repayments and cash received on acquisition[317]. - In contrast, net cash used in investing activities for the nine months ended September 30, 2021, was RMB 111.2 million, primarily due to payments for business acquisitions and loan proceeds[318]. - Net cash provided by financing activities for the nine months ended September 30, 2022, was RMB 234.7 million (US$ 33.0 million), driven by increased capital contributions[319]. - For the nine months ended September 30, 2021, net cash used in financing activities was RMB 1.8 million, mainly due to repayments to related parties and third parties[320]. Business Developments - The company completed a business combination with Golden Path Acquisition Corporation on September 16, 2022, resulting in the issuance of 44,554,455 ordinary shares[217]. - Following the business combination, the company had 50,812,035 ordinary shares issued and outstanding, and 6,020,500 warrants outstanding[218]. - The company is focused on expanding its holographic technology services, including LiDAR solutions and digital twin technology, to capture a larger market share in the digitalization sector[212]. - The company has established a proprietary holographic digital twin technology resource library, which is expected to become a new standard in the digital twin augmented physical world[212]. Tax and Regulatory - Eligible small enterprises in China can benefit from a 75% reduction on a 20% tax rate, resulting in an effective rate of 5% for annual taxable income up to RMB 1,000,000[233]. - The company is subject to a value-added tax (VAT) of 6% on services and 13% on goods in China[235]. - The company is classified as a smaller reporting company and is not required to provide additional market risk disclosures[323]. Accounting and Reporting - The company recognizes revenue from Holographic Technology LiDAR Products at a point in time when control is transferred to customers, with no separate sales rebate or right of return[257]. - Revenue from ADAS software development contracts is recognized over time based on progress, with significant estimates affecting revenue recognition[258]. - The company follows ASC Topic 606 for revenue recognition, which requires control transfer to customers for revenue to be recognized[256]. - Noncontrolling interests represent 44% ownership for Ocean HK and its subsidiaries, impacting the consolidated financial statements[253]. - The company accounts for common stock warrants as either equity instruments or liabilities based on specific terms[255]. - The reporting currency for the company is Renminbi (RMB), with foreign currency transactions translated at applicable exchange rates[241]. - No impairment of long-lived assets was recognized for the nine months ended September 30, 2021, and 2022[247].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to GOLDEN PATH ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) Cayman Islands 001-440519 n/a (State or other jurisdiction of incorporation) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to GOLDEN PATH ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) Cayman Islands 001-440519 n/a (State or other jurisdiction of incorporation) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 100 Park Avenue, New York, New York 10017 (Address of principal executive offices) (Zip Code) For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-440519 GOLDEN PATH ACQUISITION CORPO ...