WiMi Hologram Cloud Inc. to Hold Extraordinary General Meeting on March 25, 2025

Core Viewpoint - WiMi Hologram Cloud Inc. is terminating its Deposit Agreement and will hold an extraordinary general meeting to discuss a share consolidation and capital increase, impacting its American depositary shares (ADSs) and ordinary shares [1][2][3]. Group 1: Termination of Deposit Agreement - The Deposit Agreement dated March 20, 2020, will be terminated effective April 2, 2025, leading to the automatic cancellation of ADSs [1][2]. - Holders of ADSs will receive two Class B ordinary shares for each ADS cancelled, subject to adjustments based on a potential share consolidation [2][3]. Group 2: Extraordinary General Meeting (EGM) - The EGM is scheduled for March 25, 2025, where shareholders will vote on the share consolidation proposal [1][4]. - The record date for determining eligible shareholders to attend the EGM is set for February 24, 2025 [1]. Group 3: Share Consolidation Details - If approved, the share consolidation will occur at a ratio of one consolidated ordinary share for every twenty existing ordinary shares [3][4]. - Following the consolidation, ADS holders will receive one consolidated Class B ordinary share for every ten ADS previously held if the consolidation is approved [3]. Group 4: Share Capital Changes - The authorized share capital will increase from US$50,000 divided into 25,000,000 shares to US$1,500,000 divided into 750,000,000 shares post-consolidation [7][8]. - The new structure will include 37,500,000 Class A ordinary shares and 412,500,000 Class B ordinary shares, both with a par value of US$0.002 [8]. Group 5: Company Overview - WiMi Hologram Cloud Inc. operates an integrated holographic AR application platform in China, with a content library of 4,654 AR holographic contents [9]. - The company has achieved image processing speeds that are 80% faster than the industry average, collecting 500 to 550 data blocks compared to peers' 40 to 50 [9].