WIMI Completes 20-to-1 Share Consolidation; Increases Capital
WiMi Hologram Cloud Inc. (WIMI) announced several corporate actions in its 20-F filing. The company's American Depositary Shares (ADSs) were automatically cancelled on April 2, 2025, with holders receiving Class B ordinary shares, which began trading on NASDAQ on April 3, 2025. Effective April 14, 2025, WIMI completed a 20-to-1 share consolidation, followed by an increase in authorized share capital to US$1,500,000, comprising 750,000,000 shares. The company also highlighted its reliance on a Variable Interest Entity (VIE) structure for its China operations, which contributed 0.05% to total revenues in 2025, and detailed significant risks related to evolving PRC regulations and the Holding Foreign Companies Accountable Act (HFCA Act).
Key Highlights
- ADSs automatically cancelled on April 2, 2025; holders received 2 Class B ordinary shares per ADS.
- WIMI Class B ordinary shares began trading on NASDAQ under "WIMI" on April 3, 2025.
- 20-to-1 share consolidation effective April 14, 2025, changing par value to US$0.002.
- Authorized share capital increased to US$1,500,000, divided into 750,000,000 shares.
- VIE and its subsidiaries contributed 0.05% of total revenues for year ended December 31, 2025.
- Company operates in holographic AR and semiconductor businesses.
- Subject to risks from PRC government oversight and the HFCA Act.