$HOLO

MicroCloud Hologram Inc.

CIK:0001841209|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2025

USD ($)

$ / shares

Dec. 31, 2025

CNY (¥)

¥ / shares

Dec. 31, 2024

CNY (¥)

¥ / shares

Dec. 31, 2023

CNY (¥)

¥ / shares

OPERATING REVENUES

Total operating revenues

$ 56,515,732

¥ 403,686,223

¥ 290,297,984

¥ 203,548,005

COST OF REVENUES

(44,493,065)

(317,809,512)

(224,851,661)

(129,296,306)

GROSS PROFIT

12,022,667

85,876,711

65,446,323

74,251,699

OPERATING EXPENSES

Selling expenses

(377,260)

(2,694,728)

(3,526,803)

(6,692,316)

General and administrative expenses

(2,693,319)

(19,238,109)

(23,252,517)

(65,354,201)

Research and development expenses

(7,974,468)

(56,960,830)

(174,394,747)

(78,655,572)

Provision for expected credit loss

(613,014)

(4,378,701)

(2,492,478)

(857,713)

Change in fair value of warrant liability

62,543

372,961

Total operating expenses

(11,658,061)

(83,272,368)

(203,604,002)

(151,186,841)

LOSS FROM OPERATIONS

364,606

2,604,343

(138,157,679)

(76,935,142)

OTHER INCOME (EXPENSE)

Finance income, net

6,212,369

44,374,333

23,250,360

3,363,084

Investment income

(13,769,146)

(98,351,630)

42,298,644

Profit or loss on disposal of subsidiaries

43,591

311,369

5,904,530

(15,278,949)

Other income, net

124,317

887,982

5,010,560

3,124,103

Total other income (expenses), net

(7,388,869)

(52,777,946)

76,464,094

(8,791,762)

Loss before income taxes

(7,024,263)

(50,173,603)

(61,693,585)

(85,726,904)

Income tax credit (expense)

(2,538,650)

4,138,906

Net loss

(7,024,263)

(50,173,603)

(64,232,235)

(81,587,998)

Less: Net income (loss) attributable to non-controlling interests

355,619

2,540,154

(909,447)

(205,725)

NET LOSS ATTRIBUTABLE TO MICROCLOUD HOLOGRAM INC. ORDINARY SHAREHOLDERS

(7,379,882)

(52,713,757)

(63,322,788)

(81,382,273)

OTHER COMPREHENSIVE INCOME

Foreign currency translation adjustment

(4,633,415)

(33,096,020)

533,030

1,817,059

COMPREHENSIVE LOSS

(11,657,678)

(83,269,623)

(63,699,205)

(79,770,939)

Less: Comprehensive income (loss) attributable to non-controlling interests

355,619

2,540,154

(909,447)

(205,725)

COMPREHENSIVE LOSS ATTRIBUTABLE TO MICROCLOUD HOLOGRAM INC

$ (12,013,297)

¥ (85,809,777)

¥ (62,789,758)

¥ (79,565,214)

WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES*

Weighted average number of ordinary shares outstanding - basic

^[1]

13,176,414

319,503

6,552

Weighted average number of ordinary shares outstanding - diluted

^[1]

13,176,414

319,503

6,552

LOSS PER SHARE*

Earnings per share - basic | (per share)

^[1]

$ (0.56)

¥ (4.00)

¥ (198.19)

¥ (12,420.98)

Earnings per share - diluted | (per share)

^[1]

$ (0.56)

¥ (4.00)

¥ (198.19)

¥ (12,420.98)

Products [Member]

OPERATING REVENUES

Total operating revenues

$ 1,392,835

¥ 9,948,882

¥ 7,903,228

¥ 22,401,569

Services [Member]

OPERATING REVENUES

Total operating revenues

$ 55,122,897

¥ 393,737,341

¥ 282,394,756

¥ 181,146,436

[1]	The shares and per share information are presented on a retroactive basis to reflect the Share Consolidation and the reclassification of Class A and Class B ordinary shares (Note 17).

CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (7,024,263)	¥ (50,173,603)	¥ (64,232,235)	¥ (81,587,998)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	28,931	206,650	818,541	6,161,834
Amortization of operating lease right-of-use assets	207,252	1,480,382	1,136,310	1,075,834
Provision (Reversal) for expected credit loss	613,014	4,378,701	2,492,478	(274,155)
Deferred tax (benefits) expense			2,931,528	(4,038,047)
Allowance (reversal) for inventory reserve	(24,532)	(175,229)	674,467
(Gain) loss from short-term investments	13,769,146	98,351,630	(42,298,644)
Loss on disposal fixed assets			207,719
Change in fair value of warrant liabilities			(62,200)	(372,961)
Stock compensation expense			952,556	32,164,435
Impairment loss for intangible assets				3,854,547
Impairment loss for goodwill				21,155,897
Loss on disposal of subsidiaries	(43,591)	(311,369)		(1,900,379)
Change in operating assets and liabilities:
Notes receivable	(509,359)	(3,638,300)
Accounts receivable	(1,146,639)	(8,190,325)	(16,121,016)	70,783,791
Prepayment and other current assets	(45,070)	(321,928)	5,204,527	(8,706,708)
Inventories	115,243	823,169	(66,239)	384,038
Prepayments and deposits	44,813	320,098	(9,630)	106,536
Accounts payable	1,798,731	12,848,156	12,091,524	(59,893,927)
Operating lease liabilities	(231,385)	(1,652,760)	(1,136,202)	(1,049,831)
Contract liabilities	221,684	1,583,467	719,813	(1,173,186)
Other payables and accrued liabilities	103,509	739,355	(1,444,673)	(4,451,683)
Taxes payable	14,433	103,096	(478,011)	23,354
Net cash used in operating activities	7,891,917	56,371,190	(98,619,387)	(27,738,609)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(13,985)	(99,894)	(11,927)	(774,615)
Investments in unconsolidated entities				(600,000)
Proceeds from acquisition of subsidiary, net of cash acquired	172,102	1,229,304
Proceeds from disposal of subsidiary, net of cash acquired/disposed	(67,788)	(484,202)
Purchases of short term investments	(833,000,000)	(5,854,990,400)	(682,969,884)
Redemption of short-term investments	790,710,814	5,557,748,169
Gain from short-term investments	1,545,504	11,039,379
Net cash provided by (used in) investing activities	(40,653,353)	(285,557,644)	(682,981,811)	(1,374,615)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from convertible promissory note	176,640,000	1,241,567,232	1,504,532,120
Repayments from related parties				60,280
Repayments to related parties				(350,000)
Repayments of bank loans	(828,655)	(5,919,000)	(7,093,896)	(7,406,104)
Proceeds from bank loans	598,854	4,277,557	9,459,000	9,900,000
Net cash provided by financing activities	176,410,199	1,239,925,789	1,506,897,224	2,204,176
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS	162,862	(18,820,901)	136,872	1,826,601
CHANGE IN CASH AND CASH EQUIVALENTS	143,811,625	991,918,434	725,432,898	(25,082,447)
CASH AND CASH EQUIVALENTS, beginning of year	118,450,620	851,470,436	126,037,538	151,119,985
CASH AND CASH EQUIVALENTS, end of year	262,262,245	1,843,388,870	851,470,436	126,037,538
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	1,504	10,742	1,268
Cash paid for interest	21,740	155,290	120,249	26,442
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Convertible bonds exercise the right of conversion	(170,200,000)	(1,196,301,760)	(1,504,532,120)
Initial recognition of right-of-use assets and lease liabilities	$ 47,792	¥ 341,371	¥ 497,182	¥ 932,174

CONSOLIDATED BALANCE SHEETS

Dec. 31, 2025

USD ($)

Dec. 31, 2025

CNY (¥)

Dec. 31, 2024

CNY (¥)

CURRENT ASSETS

Cash and cash equivalents

$ 262,262,245

¥ 1,843,388,870

¥ 851,470,436

Short-term investments

127,923,939

899,151,784

725,664,686

Notes receivable

517,627

3,638,300

Accounts receivable, net

3,152,193

22,156,134

23,471,365

Prepayments and other current assets

1,133,675

7,968,373

9,671,579

Inventories, net

16,752

117,743

765,683

Total current assets

395,006,431

2,776,421,204

1,611,043,749

NON-CURRENT ASSETS

Property and equipment, net

69,936

491,567

583,801

Investments in unconsolidated entities

85,363

600,000

Right-of-use assets, net

168,758

1,186,167

2,349,563

Prepayment and deposits, net

320,098

Total non-current assets

324,057

2,277,734

3,853,462

Total assets

395,330,488

2,778,698,938

1,614,897,211

CURRENT LIABILITIES

Accounts payable

2,969,603

20,872,743

13,405,894

Contract liabilities

780,114

5,483,268

2,950,665

Other payables and accrued liabilities

874,098

6,143,858

7,653,197

Operating lease liabilities - current

162,963

1,145,435

1,445,223

Loan payable

516,099

3,627,557

5,269,000

Taxes payable

32,589

229,059

147,597

Convertible bonds

6,440,000

45,265,472

(0)

Total current liabilities

11,775,466

82,767,392

30,871,576

NON-CURRENT LIABILITIES

Operating lease liabilities - noncurrent

1,037,221

Total non-current liabilities

1,037,221

Total liabilities

11,775,466

82,767,392

31,908,797

SHAREHOLDERS’ EQUITY

Additional paid-in capital

402,491,075

2,859,114,967

1,783,988,461

Accumulative deficit

(37,356,062)

(265,992,349)

(209,744,309)

Statutory reserves

363,188

2,552,776

2,564,446

Accumulated other comprehensive loss

(1,009,168)

(33,928,456)

(832,436)

Total MICROCLOUD HOLOGRAM INC. shareholders’ equity

382,818,929

2,690,757,695

1,583,811,665

NON-CONTROLLING INTERESTS

736,093

5,173,851

(823,251)

Total shareholders’ equity

383,555,022

2,695,931,546

1,582,988,414

Total liabilities and shareholders’ equity

395,330,488

2,778,698,938

1,614,897,211

Class A Ordinary Shares [Member]

SHAREHOLDERS’ EQUITY

Common Stock, Value

^[1]

18,009,896

126,720,005

7,835,503

Class B Ordinary Shares [Member]

SHAREHOLDERS’ EQUITY

Common Stock, Value

^[1]

$ 320,000

¥ 2,290,752

[1]	The shares and per share information are presented on a retroactive basis to reflect the Share Consolidation and the reclassification of Class A and Class B ordinary shares (Note 17).