Core Viewpoint - WiMi Hologram Cloud Inc. has announced a cluster-based sharding blockchain strategy aimed at enhancing collaborative computing in the Internet of Things (IoT), improving scalability, processing speed, and overall system efficiency [1][5]. Group 1: Cluster-Based Sharding Blockchain Strategy - The cluster-based sharding blockchain strategy partitions the blockchain network into smaller "shards," allowing for improved scalability and processing capabilities, particularly suited for large-scale networks like IoT [1]. - Sharding decentralizes data and transaction processing, enabling the network to handle more transactions simultaneously, thus increasing system throughput and reducing transaction confirmation times [1]. Group 2: Dynamic Clustering and Deep Reinforcement Learning - WiMi integrates dynamic clustering and deep reinforcement learning (DRL) within its sharding strategy to intelligently manage shards, optimizing resource allocation based on various factors such as network status and device characteristics [2][3]. - DRL models continuously learn and adapt, discovering optimal policies for resource allocation and task management, which enhances the overall performance and energy efficiency of the system [3][4]. Group 3: Benefits of the Combined Approach - The combination of dynamic clustering and DRL improves adaptability, resource utilization, security, and scalability of blockchain systems for IoT, effectively addressing network dynamics and uncertainties [4]. - This approach not only enhances processing capacity but also strengthens security and stability, positioning it as a key direction for future IoT and blockchain integration [5].

Core Insights - WiMi Hologram Cloud Inc. reported a significant increase in total revenues and a shift from net loss to net income for the first half of 2024, indicating strong business performance and growth potential in the holographic AR market [2][3]. Financial Performance - Total revenues rose by approximately RMB 26.1 million, or 10%, from approximately RMB 264.8 million in the first half of 2023 to approximately RMB 290.8 million (USD 40.8 million) in the first half of 2024 [2]. - AR service revenue increased by approximately RMB 36.0 million, or 14%, from approximately RMB 254.8 million in the first half of 2023 to approximately RMB 290.8 million (USD 40.8 million) in the first half of 2024 [2]. - The company transitioned from a net loss of approximately RMB 18.4 million in the first half of 2023 to a net income of approximately RMB 12.3 million (USD 1.7 million) in the first half of 2024 [2]. - As of June 30, 2024, the company had cash, cash equivalents, and short-term investments totaling approximately RMB 1,162.0 million (USD 163.0 million), compared to approximately RMB 773.8 million (USD 108.7 million) as of December 31, 2023 [2]. Market Outlook - The CEO highlighted a rapid growth in demand for 3D vision in the holographic AR application field, indicating a substantial market opportunity for the company [3]. - The company aims to leverage public capital markets to enhance its holographic technology research and development, which is expected to drive future business growth and service expansion [3]. Company Overview - WiMi Hologram Cloud, Inc. specializes in a range of holographic AR technologies and solutions, including automotive HUD software, 3D holographic pulse LiDAR, and various holographic software applications [4].

Financial Performance - Total operating revenues for the six months ended June 30, 2024, increased to RMB 290,815,771, up from RMB 264,759,505 in the same period of 2023, representing a growth of approximately 9.4%[3] - Gross profit for the six months ended June 30, 2024, was RMB 87,571,390, compared to RMB 80,982,075 for the same period in 2023, reflecting an increase of about 8.5%[3] - The net income attributable to WiMi Hologram Cloud, Inc. for the six months ended June 30, 2024, was RMB 7,663,918, a significant turnaround from a net loss of RMB 2,194,537 in the same period of 2023[3] - The company reported a comprehensive loss of RMB 42,429,344 for the six months ended June 30, 2024, compared to a comprehensive income of RMB 9,656,566 in the same period of 2023[3] - For the six months ended June 30, 2024, the company reported a net income of RMB 12,288,585 (approximately USD 1,724,277), a significant recovery from a net loss of RMB 18,426,496 in the same period of 2023[7] - Operating cash flow for the six months ended June 30, 2024, was RMB 150,230,330 (approximately USD 21,079,632), compared to a cash outflow of RMB 4,076,206 in the prior year[7] Assets and Liabilities - Total current assets as of June 30, 2024, reached RMB 1,254,133,046, an increase of approximately 46.2% from RMB 857,714,128 as of December 31, 2023[2] - Total liabilities increased to RMB 553,264,009 as of June 30, 2024, compared to RMB 269,465,821 as of December 31, 2023, indicating a rise of about 105.5%[2] - Cash and cash equivalents as of June 30, 2024, amounted to RMB 502,705,130, an increase from RMB 338,175,706 as of December 31, 2023, representing a growth of approximately 48.7%[2] - The company’s total assets increased, with accumulated deficits reported at RMB (932,667,280) as of June 30, 2024[4] - The company’s balance of additional paid-in capital reached RMB 1,651,937,055 as of June 30, 2024, reflecting ongoing investment activities[4] Research and Development - Research and development expenses decreased to RMB 75,820,156 for the six months ended June 30, 2024, down from RMB 92,239,461 in the same period of 2023, a reduction of about 17.7%[3] - Research and development expenses encompass salaries, outsourced subcontractors, and related office expenses, indicating the Company's commitment to innovation and product development[108] Revenue Sources - The revenue from AR services was RMB 290,815,771 for the year ended June 30, 2024, compared to RMB 254,823,992 for the year ended June 30, 2023, indicating a growth of about 14.1%[103] - The Company recorded international revenues of RMB 19,890,692 for the year ended June 30, 2024, up from RMB 9,935,513 for the year ended June 30, 2023, marking an increase of about 100%[103] - Revenues from Mainland PRC for the six months ended June 30, 2024, were RMB 239,886,094, compared to RMB 254,823,992 for the same period in 2023, showing a decline of approximately 5.8%[196] Investments and Subsidiaries - The company has established multiple subsidiaries and joint ventures to expand its operations in augmented reality and semiconductor industries[8][9][14] - VIYI Technology Inc. was established to accelerate the development of AI algorithms and cloud computing services, with a focus on enhancing competitiveness in the semiconductor market[18] - VIYI acquired 100% equity interests of Fe-da Electronics Company for an undisclosed amount to boost its computer chip and intelligent chip business[19] - As of June 30, 2024, noncontrolling interests include 48% equity interest in MicroAlgo valued at RMB 171,530,262 and total noncontrolling interests of RMB 122,663,493[120][121] Accounting and Compliance - The company accounts for Beijing WiMi as a Variable Interest Entity (VIE) and consolidates its accounts in accordance with SEC regulations [50] - The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include all normal and recurring adjustments deemed necessary for fair presentation [51] - The Company operates under ASC 606 guidelines, determining revenue recognition based on whether it acts as a principal or agent in transactions, affecting how revenues are reported[88] - The Company has adopted FASB ASU 2016-02 for leases, recognizing lease liabilities and assets based on the present value of lease payments[113] Customer Concentration and Risks - For the six months ended June 30, 2024, one customer accounted for 11.5% of the company's total revenues, indicating a shift in customer concentration risk[169] - The company has determined that the likelihood of loss regarding its current corporate structure or contractual arrangements is remote based on current facts and circumstances[192]

Core Viewpoint - WiMi Hologram Cloud Inc. has announced a machine learning-based blockchain hybrid consensus algorithm aimed at enhancing the security, trust, and performance of blockchain systems while reducing resource consumption [1][5]. Group 1: Technology Innovation - The new hybrid consensus algorithm combines machine learning with traditional blockchain consensus methods, addressing limitations such as high resource consumption and slow processing speeds [2]. - The algorithm optimizes security and robustness by enhancing intelligent decision-making capabilities, including predicting network attacks and anomaly detection [2][3]. Group 2: Intelligent Decision Optimization - The hybrid consensus algorithm utilizes machine learning to analyze network operation data, allowing for the automatic adjustment of consensus parameters to improve scalability and efficiency [3]. - By predicting trends in consensus performance, the system can adapt to dynamic changes in the network environment [3]. Group 3: Security and Privacy - Continuous monitoring through machine learning enables the detection of potential security threats, allowing the system to take immediate countermeasures against anomalies [3]. - The algorithm incorporates privacy protection mechanisms to ensure user data security during transmission and storage, promoting a transparent blockchain ecosystem [4]. Group 4: Future Implications - WiMi's innovation represents a significant advancement in blockchain technology, providing essential support for the future digital economy [5]. - The hybrid consensus algorithm is expected to evolve and adapt to changing network conditions, becoming a key component of next-generation blockchain infrastructure [5].

Core Insights - WiMi Hologram Cloud Inc. has introduced a federated learning framework utilizing layered and sharded blockchain technology to enhance data collaboration efficiency and security [1][6] Group 1: Federated Learning Framework - The framework optimizes information interaction and processing efficiency by dividing the IoT network into a multi-layer structure with multiple shards, reducing global communication costs [2][5] - Each shard can execute local training tasks independently and in parallel, which accelerates the overall learning process while ensuring data security and privacy [2][4] Group 2: Security and Data Integrity - A highly adaptive consensus algorithm has been developed to identify and reject abnormal models, ensuring the accuracy and reliability of learning results [3] - The use of encryption and distributed ledger technology protects data during transmission and storage, preventing data leakage and tampering [4] Group 3: Scalability and Application Prospects - The sharding and parallel processing mechanism improves computational efficiency and reduces latency, making it suitable for real-time learning scenarios in large-scale IoT devices [5] - The federated learning framework is expected to promote digital transformation across various industries, including smart homes, smart cities, and Industry 4.0, indicating broad application prospects [6]

Core Viewpoint - WiMi Hologram Cloud Inc. has launched the "WiMi HoloAR Lens," an augmented reality headset aimed at enhancing user experience in the holographic AR technology space and expanding its applications in the Metaverse [1][4]. Product Features - The WiMi HoloAR Lens is a split glasses design that includes dual cameras and a 6 degrees of freedom (6dof) spatial localization solution, making it suitable for various applications such as spatial interaction [1]. - The product boasts a wider viewing angle of 63 degrees compared to the industry standard of 30-55 degrees, providing a more immersive visual experience [2]. - It features a 600-inch long giant screen display with a resolution of 1920x1080p, a contrast ratio of 50000:1, and supports 80 million full colors, along with a brightness of 1800 nits and a refresh rate of 90Hz [2]. - Weighing only 78 grams, the headset is designed for comfort during extended use in various environments, including travel and home settings [3]. - The optical solution allows for refractive error adjustments from 0 to 500 degrees, enabling clear viewing for users without myopia [3]. Market Positioning and Future Applications - The CEO of WiMi highlighted that the HoloAR Lens accelerates advancements in image color management and user experience, positioning the product as a key player in the expanding Metaverse [4]. - The product is expected to find applications in virtual social networking, entertainment, education, and communication, indicating a broad market potential [4]. - WiMi's holographic XR (AR/VR/MR) products, including the HoloAR Lens, have received FCC approval for entry into the US market, enhancing its market credibility [4]. Company Overview - WiMi Hologram Cloud, Inc. specializes in holographic cloud technology and offers a range of products and services, including automotive HUD software, 3D holographic pulse LiDAR, and various holographic AR technologies [5].

Core Viewpoint - WiMi Hologram Cloud Inc. has developed a blockchain-based integrated architecture for security maintenance in cloud computing, aiming to enhance data integrity and reliability while creating an efficient and secure cloud services ecosystem [1][3]. Group 1: Blockchain Technology Integration - The core of blockchain technology is its tamper-proof nature, facilitated by a distributed ledger structure and strong encryption algorithms, which prevents illegal data tampering [2]. - WiMi's architecture integrates blockchain advantages into cloud computing, ensuring verifiable and tamper-proof data operations, addressing traditional cloud computing's data protection shortcomings [3][6]. - The architecture employs homomorphic encryption to protect data privacy and integrity during processing, alongside a Byzantine fault-tolerant consensus mechanism to build a distributed Cloud Service Provider (CSP) network [3][4]. Group 2: Key Features of the Architecture - Homomorphic encryption allows data to be computed in an encrypted state, maintaining privacy while enabling manipulation without compromising integrity, even in multi-cloud environments [4]. - The Byzantine fault-tolerant consensus mechanism tolerates a certain percentage of faulty nodes, ensuring network agreement and operation continuity despite potential dishonest participants [4]. - Master hash validation involves generating a master hash value for processed data, which is broadcasted for validation, ensuring that any tampering attempts are detected through hash value verification [5]. Group 3: Future Implications - WiMi's blockchain-based architecture addresses data integrity challenges in cloud computing and establishes a foundation for a trusted computing environment, potentially driving the safe development of the digital economy [6]. - The fusion of cloud computing and blockchain technology is expected to become a new driving force for promoting data asset protection and enhancing data security as technology matures and application scenarios broaden [6]. Group 4: Company Overview - WiMi Hologram Cloud, Inc. is a comprehensive technical solution provider specializing in holographic AR technologies, including automotive HUD software, 3D holographic pulse LiDAR, and various holographic applications [7].

Core Viewpoint - WiMi Hologram Cloud Inc. has developed a blockchain-based asynchronous federated learning (BAFL) framework that enhances the efficiency and security of federated learning systems by integrating blockchain technology with asynchronous learning mechanisms [1][3]. Group 1: Technology and Innovation - The BAFL framework combines blockchain's decentralization, immutability, and transparency to ensure the integrity and traceability of model data, preventing malicious tampering [1][3]. - Asynchronous learning allows devices to upload model updates flexibly, improving the efficiency of the learning process, especially in high-latency environments [2][3]. - The framework addresses data silos and enhances model training efficiency while safeguarding data security and privacy, paving the way for distributed AI model training [3]. Group 2: Applications and Market Potential - BAFL has broad application prospects in various fields, including healthcare, finance, and smart manufacturing [3]. - In healthcare, BAFL can facilitate the sharing of medical record data for joint training of disease prediction models while protecting patient privacy [3]. - In finance, it can be used to train credit risk assessment models, improving risk identification accuracy while complying with data protection regulations [3]. - In smart manufacturing, BAFL enables optimization of production processes and predictive maintenance by analyzing data from different factories without risking data leakage [3]. Group 3: Company Overview - WiMi Hologram Cloud, Inc. is a comprehensive technical solution provider focusing on holographic AR technologies, including automotive HUD software, 3D holographic pulse LiDAR, and holographic cloud software [4].

BEIJING, Aug. 6, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced a blockchain-based trusted collaborative learning (TrusCL) framework for IoT which is a solution for the privacy-preserving and computational requirements of collaborative learning in AIoT environments. The TrusCL framework is combined with Homomorphic Encryption (HE) and Differential Privacy (DP) techniques, both of ...

BEIJING, July 29, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced a blockchain-based privacy security protection framework will provide an innovative solution for secure data sharing and collaboration in smart cities, which not only integrates the advantages of decentralization, transparency, and immutability of blockchain technology, but also deeply integrates a variety of advance ...