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SHENZHEN, China - MicroCloud Hologram Inc. (NASDAQ:HOLO), a company focused on holographic technology services and currently valued at $15.5 million in market capitalization, reported a strong financial performance for the fiscal year 2024, with its total operating revenue reaching RMB 290 million (about $40.76 million), marking a 42.16% increase from the previous year. The service business revenue saw a significant rise of 53.04%, from RMB 181 million in 2023 to RMB 277 million in 2024. According to InvestingPro analysis, the company’s shares are currently trading below their Fair Value, presenting a potential opportunity for investors looking at undervalued technology stocks.
The company also saw a substantial increase in cash and cash equivalents, which grew by 575.54% year-over-year to RMB 851.47 million (approximately $118.45 million). While this cash position is strong, with InvestingPro data showing the company holds more cash than debt and maintains a healthy current ratio of 13.53, the overall Financial Health Score remains weak at 1.03 out of 5. This financial position underscores MicroCloud’s strategic agility while suggesting room for improvement in operational efficiency.
Wei Peng, Chairman of the Board of Directors, attributed the successful year to the company’s strategic priorities, including financial resilience, market expansion, and a commitment to technological innovation. Peng emphasized the role of aligning with market demands and the team’s dedication to innovation as key drivers for the year’s achievements.
Looking forward, MicroCloud plans to continue investing in research and development of holographic technologies and enhancing its product and service quality. The company aims to expand its global footprint and further integrate cutting-edge solutions to maintain its competitive edge. With a gross profit margin of 20.37% and significant cash burn rate, InvestingPro subscribers can access 14 additional key insights and detailed financial metrics to better evaluate the company’s growth trajectory and investment potential.
MicroCloud offers a range of services in the holographic industry, including holographic light detection and ranging (LiDAR) solutions, holographic imaging technology, and holographic vehicle intelligent vision technology, which contribute to advanced driver assistance systems (ADAS). The company also provides holographic digital twin technology services and maintains a proprietary technology resource library.
The full details of MicroCloud’s annual report on Form 20-F, which includes audited consolidated financial statements, are available on the U.S. Securities and Exchange Commission’s website. This press release does not contain all the information from the annual report, and readers are encouraged to refer to the full document for a comprehensive understanding of the company’s financial results.
The forward-looking statements in the press release are subject to risks and uncertainties that could cause actual results to differ materially from expectations. These statements are based on current beliefs and assumptions and are not guarantees of future performance. The company’s future business development and market acceptance of its products and services could be affected by various factors outlined in its filings with the SEC.
This news article is based on a press release statement from MicroCloud Hologram Inc.
In other recent news, MicroCloud Hologram Inc. has unveiled a new quantum key distribution (QKD) protocol aimed at enhancing quantum transmission security and information efficiency. This protocol, based on quantum Fourier transform techniques, represents a significant advancement in quantum computing and cryptography. Additionally, the company announced a two-qubit dephasing noise spectral protocol, which aims to improve the understanding of quantum noise and enhance quantum state measurements. MicroCloud Hologram is also making a strategic move into the cryptocurrency market with an investment of up to $200 million in Bitcoin and related securities derivatives, leveraging its $303 million cash reserves to diversify its portfolio. The company has reported accumulated dividends reaching $8.13 million, reflecting its commitment to shareholder value. Furthermore, MicroCloud Hologram has developed a new balancing mechanism for scaling large language models in open-source configurations, improving computational resource efficiency. These developments underscore the company’s commitment to innovation across various sectors, including quantum technology and digital assets.
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