WiMi Hologram Cloud Inc.

WiMi Hologram Cloud Inc. (WIMI) announced it received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company's Class B Ordinary Shares have failed to maintain this price for 30 consecutive business days. While the notification has no immediate impact on trading, WIMI has 180 days, until April 28, 2027, to regain compliance. The company is exploring options, including a potential reverse stock split, to meet the requirement.

WiMi Hologram Cloud Inc. filed a Form 6-K with the U.S. Securities and Exchange Commission. This routine filing indicates the company's status as a foreign private issuer and confirms its annual reports are filed under Form 20-F.

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).