WiMi Hologram Cloud is a China-based technology company with two core businesses: holographic augmented reality (AR) services and semiconductor/central processing algorithm (CPA) solutions. WiMi's AR business has two main offerings. First, WiMi embeds 3D holographic advertisements directly into streaming video content on China's major online video platforms, using image recognition technology to identify ad spaces and insert rendered objects seamlessly into scenes. Advertisers purchase these placements through APIs, and WiMi charges per view. Second, WiMi sells payment middleware software that connects mobile apps to online payment channels, charging app developers a percentage of transaction fees processed, and licenses mixed reality software to distributors on a fixed-price basis. The semiconductor business sells CPU chip products and provides algorithm optimization services to Chinese enterprise customers, including internet advertising agencies and online game developers, combining chip hardware with intelligent application software. WiMi operates through a Variable Interest Entity (VIE) structure, as Chinese law restricts foreign ownership of value-added telecommunications businesses, meaning WiMi's Cayman Islands holding company controls its Chinese operations through contractual arrangements rather than direct equity ownership. WiMi's business is almost entirely focused on China, though the company has indicated intent to expand internationally. WiMi lists its Class B ordinary shares directly on Nasdaq under the ticker "WIMI."