0001213900-24-035159.txt : 20240423 0001213900-24-035159.hdr.sgml : 20240423 20240423095734 ACCESSION NUMBER: 0001213900-24-035159 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240423 FILED AS OF DATE: 20240423 DATE AS OF CHANGE: 20240423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WiMi Hologram Cloud Inc. CENTRAL INDEX KEY: 0001770088 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39257 FILM NUMBER: 24862985 BUSINESS ADDRESS: STREET 1: NO. 6 XIAOZHUANG CITY: BEIJING STATE: F4 ZIP: 100005 BUSINESS PHONE: 861053384913 MAIL ADDRESS: STREET 1: NO. 6 XIAOZHUANG CITY: BEIJING STATE: F4 ZIP: 100005 6-K 1 ea0204464-6k_wimihologram.htm REPORT OF FOREIGN PRIVATE ISSUER

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2024

Commission File Number: 001-39257

WiMi Hologram Cloud Inc.

(Registrant’s Name)

Room#1508, 4th Building, Zhubang 2000 Business Center, No. 97, Balizhuang Xili, Chaoyang District,
Beijing,The People’s Republic of China, 100020

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Goodwill Impairment of Shenzhen Yidian, Shenzhen Yitian and Guoyu

We perform annual goodwill impairment analysis as of December 31 with the assistance of independent valuation expert in accordance with the subsequent measurement provisions of FASB ASU 2017-04, Intangible — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminated the calculation of implied goodwill fair value and allows us to use a simpler one-step impairment test. Under ASU 2017- 04, we must record goodwill impairment charges if a reporting unit’s carrying value exceeds its fair value.

We performed goodwill impairment assessment for our reporting units as of December 31, 2023 using an asset-based approach with the assistance of a third party valuation firm.

The valuation of 100% of the equity interest of our reporting unit is based on the asset-based approach, which directly incorporates information about the economic benefits contributed by the underlying asset, and determines the value of the subject matter based on the balance sheet at the appraisal date and the value of all assets and liabilities at the appraisal date.

We have three reporting units that have goodwill. The following table categorizes our goodwill by reporting unit as of December 31, 2023,

Segment

Reporting
Unit

Net
Goodwill
as of
December 31,
2023

Fair
value as of
December 31,
2023

Carrying
Value as of
December 31,
2023

(in RMB thousands)

AR advertising services

Shenzhen Yidian

175,860

187,829

AR advertising services

Shenzhen Yitian

203,596

AR advertising services

Guoyu

159

The Company’s goodwill impairment analysis is performed, and related impairment charges recorded, after the impairment analysis and recognition, of impairment charges for long-lived assets other than goodwill and indefinite-lived intangible assets.

The Company concluded that the carrying value of Shenzhen Yidian, Shenzhen Yitian and Guoyu exceeds or equals their respective fair value, resulting in the full impairment of goodwill for Shenzhen Yidian, Shenzhen Yitian and Guoyu for the year ended December 31, 2023.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	WiMi Hologram Cloud Inc.

	By:	/s/ Shuo Shi
	Name:	Shuo Shi
	Title:	Chief Executive and Operations Officer

Date: April 23, 2024