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MicroCloud Hologram Inc. Files 2024 Annual Report on Form 20-F

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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.

In 2024, the Company achieved remarkable successes in multiple aspects such as financial performance, technological R&D, and market expansion.

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.

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.

Wei Peng, the Chairman of the Board of Directors of MicroCloud Hologram Inc., stated, “2024 marked a pivotal year for solidifying our financial foundation, characterized by 42.16% revenue growth, a 53.14% surge in service business performance, and a 575.54% increase in cash and cash equivalents. These achievements demonstrate our ability to execute strategic priorities—financial resilience, technological leadership, and market expansion—through relentless innovation and market alignment. These achievements were fueled by our team’s relentless focus on technological innovation and astute alignment with market demands. Looking ahead, we will leverage this momentum to accelerate R&D investment in holographic technologies, deepen integration of cutting-edge solutions, expand our global footprint, and enhance product/service quality and competitiveness, all while remaining steadfast in our commitment to delivering groundbreaking experiences to customers worldwide and advancing the Company to new heights in holography and related advanced technologies.”

The information disclosed in this press release is not comprehensive. For a full understanding, please refer to the Company’s annual report on Form 20-F. The annual report, which contains the Company’s audited consolidated financial statements, can be accessed on the SEC’s website at http://www.sec.gov.

About MicroCloud Hologram Inc.

MicroCloud provides a wide range of holographic technology services in the holographic industry, including high – precision holographic light detection and ranging (LiDAR) solutions based on holographic technology, exclusive holographic LiDAR point – cloud algorithm architecture design, breakthrough holographic imaging technology solutions, holographic LiDAR sensor chip design, and holographic vehicle intelligent vision technology to serve customers that provide reliable holographic advanced driver assistance systems (ADAS). MicroCloud also offers holographic digital twin technology services for customers and has established a proprietary holographic digital twin technology resource library.

Safe Harbor / Forward – Looking Statements

This press release contains “forward – looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward – looking statements can be identified by terms such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward – looking statements. Among other things, the business outlook and the Company’s strategic and operational plans contain forward – looking statements. Forward – looking statements are not guarantees or assurances of future performance and involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward – looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company’s annual report on Form 20 – F, and current report on Form 6 – K, as well as other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not assume any obligation to update any forward – looking statement, except as required under applicable laws.

 

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SOURCE MicroCloud Hologram Inc.

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KIIT Expands Global Presence Through Strategic Academic Collaborations

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BHUBANESWAR, India, March 29, 2025 /PRNewswire/ — KIIT Deemed to be University (https://kiit.ac.in/), Bhubaneswar, India, continues to expand its global footprint through strategic partnerships with reputed international institutions. It has recently signed Memoranda of Understanding (MoUs) with three prestigious universities – the University of Tulsa (USA), Toi Ohomai Institute of Technology (New Zealand), and the University of Washington-Bothell (USA). These collaborations offer students and faculty enhanced academic and research opportunities.

 

 

As part of its global education initiative, KIIT has partnered with the University of Tulsa, Oklahoma, USA, to launch a dual degree program in B.Tech. This 2+2 model allows students to complete two years at KIIT and the remaining two years at the University of Tulsa, earning a degree from both institutions.

Beyond the dual degree program, 40 KIIT students from various disciplines, including engineering and liberal studies, will participate in short-term courses at the University of Tulsa, gaining hands-on experience and international exposure. This partnership also facilitates faculty exchanges, joint research projects, and sabbatical opportunities between the two institutions.

Further strengthening its international presence, KIIT has signed an MoU with Toi Ohomai Institute of Technology, New Zealand. Signed in the presence of Mr. Christopher Luxon, Hon’ble Prime Minister of New Zealand, the partnership aims to enhance teaching and research capabilities, focusing on articulation pathways in commerce and management at both undergraduate and postgraduate levels. Toi Ohomai is a leading vocational and applied tertiary education provider known for its industry-aligned programs and hands-on learning approach.

KIIT has also forged an impactful academic collaboration with the University of Washington-Bothell (UWB), USA, through an immersive learning initiative. A delegation of 18 members from UWB, during their visit to KIIT, worked with KIIT’s management students to analyze real-world business challenges faced by local enterprises and develop sustainable solutions.

This initiative brought together students from both universities, providing them with valuable international exposure and practical learning experiences. The collaboration represents an innovative model for global academic engagement, encouraging universities to move beyond traditional exchange programs and embrace collaborative teaching models.

With over 350 MoUs signed with leading universities and corporations worldwide, KIIT has established itself as a hub for academic excellence and cultural exchange. Dr. Achyuta Samanta, Founder, KIIT, KISS & KIMS, emphasized the importance of such collaborations in equipping students with a global perspective, AI integration, and skill development opportunities that align with the evolving global workforce.

https://www.youtube.com/watch?v=37xY6DvQgdA

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STATE GRID ZHEJIANG ELECTRIC POWER CO., LTD: Early Action for Spring Farming, Sufficient Power for Spring Plowing

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LISHUI, China, March 29, 2025 /PRNewswire/ — Plant a grain of rice in spring, and harvest thousands of seeds in autumn. On March 11, employees from STATE GRID ZHEJIANG ELECTRIC POWER CO., LTD visited the grain planting base in Yushang Township, Qingyuan County, to inspect agricultural power lines and equipment, ensuring adequate electricity for spring farming and irrigation, and helping farmers increase production and income.

In the seedling factory, the seedling production line is running efficiently, with the sounds of machinery echoing. In the fields, rows of greenhouses are neatly arranged, and farmers are busy in small groups, enjoying the warm spring sunlight. The cheerful faces and the red vests moving through the greenery make for a beautiful spring scene, marking the busy farming season.

Yushang Township, located in the southwest of Qingyuan, has favorable geographical conditions and has long been known as the “grain warehouse of Qingyuan.” Over the years, Yushang has leveraged its geographical advantages to accelerate the development of modern agriculture, building high-standard grain production bases. With the arrival of spring, the base has gradually regained vitality, and farmers are busy preparing for the upcoming harvest.

Proactive Service, Close Engagement with Farmers

Since March, in order to ensure smooth electricity supply for spring plowing and planting, STATE GRID ZHEJIANG ELECTRIC POWER CO., LTD took early action and made early arrangements. The company organized employees to go deep into the fields, inspecting transformers and power supply equipment related to spring farming. They checked electrical lines for greenhouses, leakage protectors, water pumping motors, and replaced substandard switches, sockets, and damaged wires to eliminate potential electrical hazards.

At the same time, the company tailored its services to the electricity usage conditions of the planting base, teaching farmers energy-saving tips, promoting electricity price policies, and providing guidance on safe and scientific electricity use. They patiently instructed customers to download the “State Grid” app, providing “online” one-click electricity services, and opened a green channel for spring farming electricity, simplifying procedures for agricultural electricity applications and capacity increases. The company also arranged for 24-hour emergency repair services, ensuring that any faults were dealt with promptly to help farmers resolve electrical issues in spring farming and irrigation.

“Since we started using greenhouses for planting, irrigation, heating, and ventilation all rely on a stable electricity supply. The power supply company regularly visits us to check our electricity usage, which gives us peace of mind. Now, power equipment failures and circuit breaker trips have decreased, and the electricity supply is much more stable,” said Wu Xinghua, the manager of the greenhouse base, happily. “We are planning to expand the planting scale next!”

In the next phase, STATE GRID ZHEJIANG ELECTRIC POWER CO., LTD will continue to provide high-quality, convenient, fast, and efficient services for spring irrigation and plowing. The company will implement various power supply guarantee measures in detail, ensuring that “electricity reaches the fields and services reach the farmers,” and removing obstacles to the “last mile” of power supply services.

View original content:https://www.prnewswire.com/apac/news-releases/state-grid-zhejiang-electric-power-co-ltd-early-action-for-spring-farming-sufficient-power-for-spring-plowing-302414956.html

SOURCE STATE GRID ZHEJIANG ELECTRIC POWER CO., LTD

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Accelerating Connectivity in the Asia-Pacific: ADC Submarine Cable Empowers the Digital Future

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HONG KONG, March 29, 2025 /PRNewswire/ — On March 24, the launch ceremony of ADC Submarine Cable’s commissioning was successfully held at the Everbright Centre in Hong Kong. The event brought together over a hundred distinguished guests, including prominent figures from the political and business sectors, industry experts, and representatives from leading media organizations.

The ADC Submarine Cable project is jointly constructed by China Telecom, China Unicom, Singapore Telecom, Japan’s SoftBank, TATA Communications, Vietnam’s VIETTEL, Thailand’s NT, and the Philippines’ PLDT. As the only international submarine cable initiative launched in the Asia-Pacific region over the past nine years, it boasts the highest system transmission capacity and the largest number of fiber pairs in the region. Spanning 9,988 kilometers, the ADC Submarine Cable links mainland China, Hong Kong, Japan, Singapore, and multiple other countries and regions across the Asia-Pacific. Designed with an open cable architecture and cutting-edge high-capacity optical transmission technology, it features a per-fiber pair design capacity exceeding 20 Tb/s, with a total system capacity surpassing 160 Tb/s. By offering diverse routing options, the ADC Submarine Cable significantly strengthens network resilience and stability across the Asia-Pacific, reinforcing the region’s digital infrastructure.

At the event, Prof. Sun Dong, Secretary for Innovation, Technology and Industry, the Government of HKSAR, emphasized that as a key gateway for the country’s opening-up, Hong Kong will fully harness its unique advantages under the “one country, two systems” framework. Leveraging its strategic roles as a “super connector” and “super value-adder,” Hong Kong aims to facilitate the global expansion of mainland enterprises while attracting international businesses. The Hong Kong SAR Government remains committed to enhancing the innovation and technology ecosystem through institutional innovation, policy coordination, and international collaboration. He encouraged industry leaders, including China Telecom, to embrace national and SAR government initiatives, capitalize on the opportunities presented by the digital economy, and intensify R&D efforts to drive breakthroughs in artificial intelligence, big data, and other frontier technologies. At the same time, he expressed confidence that more enterprises would actively contribute to Hong Kong’s innovation and technology landscape, fostering an open and inclusive ecosystem and reinforcing the city’s position as a globally influential hub for technological advancement.

Ms. Liu Ying, Executive Vice President of China Telecommunications Corporation Ltd. (hereinafter referred to as “China Telecom”), indicated that the official launch of the ADC Submarine Cable marks a significant milestone in international cooperation. This achievement not only reaffirms China Telecom’s long-standing commitment to its global expansion strategy, cloud-network integration, and digital transformation but also ushers in a new era of collaboration with global partners to drive technological progress and shared prosperity. She also highlighted that China Telecom’s international business will continue to leverage Hong Kong as a strategic hub, dedicated to fostering a more open and collaborative ecosystem, advancing digital technology innovation, and accelerating the growth of the digital economy. The company remains committed to delivering more efficient, secure, and intelligent communication services to global users while working with industry partners to build a dynamic, inclusive, and mutually beneficial digital landscape.

As one of the organizers of the ADC Submarine Cable project, Mr. Yin Jin, CEO of China Telecom Global introduced that the ADC Submarine Cable will add over 50 Tb/s of bandwidth capacity to the Asia-Pacific region, supporting the exponential growth in data demand driven by artificial intelligence, the Internet of Things, and cloud computing. By offering a high-speed and resilient submarine communication network, the project not only enhances international telecommunications cooperation but also plays a vital role in fostering the high-quality development of the digital economy. In alignment with Hong Kong’s vision of becoming an International Innovation and Technology Hub, China Telecom Global is accelerating the development of major infrastructure projects, including the Tseung Kwan O Data Center, the Chung Hom Kok Cable Landing Station, and the New Eurasia and New Asia-Pacific submarine cables. The company is also strengthening its R&D capabilities through the establishment of AI and cybersecurity innovation centers, reinforcing its long-term commitment to driving technological progress and contributing to Hong Kong’s continued prosperity.

As the backbone of the global internet, submarine cables serve as a vital lifeline for international data transmission. In the future, China Telecom will collaborate with major global operators to continuously promote more submarine cable construction projects, further reinforcing the infrastructure that underpins 5G, AI, and digital technologies. By enhancing global connectivity, the company aims to accelerate the digital transformation landscape and contribute to the high-quality advancement of the digital economy.

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SOURCE China Telecom Global

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