MicroCloud Hologram is a China-based technology company that provides holographic technology services, primarily across two areas: holographic LiDAR for automotive and ADAS applications, and holographic digital twin technology for enterprise customers. On the LiDAR side, MicroCloud develops solid-state LiDAR sensors and point cloud algorithms that enable real-time object detection and collision avoidance for vehicles, targeting the autonomous driving and ADAS markets. On the digital twin side, MicroCloud builds and licenses a proprietary 3D holographic resource library that enterprise customers use for simulation, spatial modeling, and visualization across industries including real estate, automotive, and manufacturing. MicroCloud also offers holographic SDK tools for developers and machine vision technology for face and object recognition. Customers include government agencies, automotive electronics manufacturers, and enterprises, primarily in China. Revenue is earned through negotiated framework service agreements, making revenue project-driven. With only 74 employees — roughly half in R&D — MicroCloud is a small company with meaningful supply chain concentration, and its top two customers accounted for about 32% of revenue in FY25. Since going public via SPAC in 2022, MicroCloud has divested several subsidiaries and executed three reverse stock splits, reflecting ongoing financial and structural pressure.