WiMi Hologram Cloud Inc. (WIMI) stock rallied today after it announced unaudited financial results for the first half of 2021. The WIMI stock price saw a surge of 18.69% to reach $4.19 a share at the time of this writing. In the previous trading, the stock went closed at $3.53 per share price. Let’s deep dive to explore more of it.
First Half Financial Results of 2021:
- WiMi Hologram generated RMB516.2 million in the first half of 2021 ended on June 30, 2021. This represents an extraordinary increase of 202.2% as compared to RMB170.8 million in the same tenure of the previous year.
- WIMI stock reported RMB153.1 million in gross profit in the first six months of 2021. This represents an increase of 189.8% as compared to RMB52.8 million in the same tenure of the previous year.
- WIMI stock spent RMB 86.1 million in research and development expenses in the first half of 2021 representing an increase of 463.6% from the prior-year same period.
- Net income surged from RMB22.9 million in the first half of 2020 to RMB32.1 million in the first half of 2020. This represents an increase of 40.3% from the same previous year period.
Overall Performance of WIMI stock:
WiMi Hologram’s first quarter 2021 financial results reflect that this stock has significantly progressed over the year. The company back in September 2020 began to develop smart chips and provided software solutions. In the reported financial period, 53.1% of revenue only came from the semiconductor business. Moreover, WIMI stock experience rapid growth in its holographic augmented reality business in the six months of 2021. The holographic augmented reality business customers increased from 175 to 298.
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WIMI stock released WiMi HoloAR Lens:
WIMI Hologram on September 7, 2021, released the WiMi HoloAR lens, a new augmented reality (AR) head-mounted display (HMD) product for the consumer market. The purpose of this release is to strengthen the hardware and software research and development of holographic technology. Furthermore, it will enhance the user experience of holographic AR technology in Metaverse.
Conclusion:
Investors are responding positively to the recent release of the first-half financial results of 2021. The significant increase in revenue, gross profit, and operating expenses reflect the positive growth of the WiMi Hologram business. In a nutshell, this stock can be a good bet for investors in the future.
