Business
MicroCloud Hologram Inc. Files 2024 Annual Report on Form 20-F
MicroCloud Hologram Inc. (Nasdaq: HOLO) ("MicroCloud" or the "Company") today filed its operational and financial results for the fiscal year ended December 31, 2024, on Form 20-F with the U.S. Securities and Exchange Commission (the "SEC"). MicroCloud is dedicated to the research, development, and application of holographic technology, striving to offer leading holographic technology services to customers worldwide.
About this update from Microcloud Hologram Inc.
[{"type":"text","content":"SHENZHEN, China, March 21, 2025 /PRNewswire/ -- MicroCloud Hologram Inc. (Nasdaq: HOLO) ("MicroCloud" or the "Company") today filed its operational and financial results for the fiscal year ended December 31, 2024, on Form 20-F with the U.S. Securities and Exchange Commission (the "SEC"). MicroCloud is dedicated to the research, development, and application of holographic technology, striving to offer leading holographic technology services to customers worldwide.","length":498,"tagName":"p"},{"type":"text","content":"In 2024, the Company achieved remarkable successes in multiple aspects such as financial performance, technological R&D, and market expansion.","length":146,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Steady Revenue Growth: In 2024, the total operating revenue climbed to RMB 290 million (around $40.7625 million), achieving a 42.16% year-over-year growth compared with RMB 204 million in 2023. Notably, the service business revenue performed particularly prominently, growing substantially from RMB 181 million in 2023 to RMB 277 million in 2024, representing a 53.04% increase year-over-year. This positive trend fully indicates that the Company's products and services have won wide recognition in the market, with remarkable business expansion results. It further consolidates its market position within the industry and lays a solid foundation for future sustainable development.","length":687,"tagName":"p"}]},{"val":[{"type":"text","content":"Expansion of cash and cash equivalents Scale: By the end of 2024, the Company's cash and cash equivalents surged to RMB 851.47 million (approximately $118.45 million), reflecting a 575.54% year-over-year increase and underscoring its robust financial health and strategic agility. This growth was primarily driven by strategic capital deployment, coupled with stable non-current assets, these achievements highlight the Company's unwavering commitment to technological leadership and sustainable growth, solidifying its position as a trailblazer in holographic solutions.","length":579,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1266,"olType":false},{"type":"text","content":"Wei Peng, the Chairman of the Board of Directors of MicroCloud Hologram Inc., stated, "2024 marked a pivotal year for sol...