Viyi Algorithm Merged IPO with Venus, Main Algorithm State of affairs Options: Web Promoting, Video games, Good Chips

Published:Dec 6, 202314:51
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Viyi Algorithm Merged IPO with Venus, Main Algorithm State of affairs Options: Web Promoting, Video games, Good Chips

NEW YORK, June 10, 2021 Venus Acquisition Company (Nasdaq: VENA) ("Venus"), a publicly traded particular function acquisition firm, and VIYI Algorithm Inc. ("VIYI Algo"), a Cayman Islands exempted firm managed by WiMi Hologram Cloud, Inc. (NASDAQ: WIMI), introduced at present that they've entered right into a definitive merger settlement. A newly created merger subsidiary of Venus might be merged with and into VIYI Algo with VIYI Algo being the surviving entity and turning into an entirely owned subsidiary of Venus. Upon closing of the transaction, Venus will change its identify to MicroAlgo Inc.

VIYI is devoted to the event and software of bespoke central processing algorithms. VIYI offers complete options to prospects by integrating central processing algorithms with software program or {hardware}, or each, to streamline their digital companies for end-users or technological improvement functions, thereby serving to them enhance the variety of prospects, enhance end-user satisfaction, obtain direct value financial savings, cut back energy consumption, and obtain technical objectives. The vary of VIYI's companies consists of algorithm optimization, accelerating computing energy with out the necessity for {hardware} upgrades, light-weight information processing, and information intelligence companies. VIYI's capacity to effectively ship software program and {hardware} optimization to VIYI's prospects by way of bespoke central processing algorithms serves as a driving pressure for VIYI's long-term improvement.

At the moment, VIYI's expertise and options are primarily within the subject of web multimedia video promoting, web gaming entertainment, the place VIYI has traditionally been profitable in offering promoting distribution options, on-line recreation agent options, software program companies, and complete options for enterprise prospects. Beginning in September 2020, VIYI developed its clever chips options by buying 100% owned subsidiary Fe-da Electronics as VIYI believes that the demand for algorithms within the semiconductor sector is rising quickly, representing big market potentials.

Within the mid-to-long time period, VIYI will proceed to stick to its strategic mindset. By bettering upon every iteration of VIYI's one-stop clever information administration options made doable by VIYI's proprietary central processing algorithm companies, VIYI can assist prospects to boost their service effectivity and make mannequin improvements in enterprise, and actively improve the trade worth of the central processing algorithm companies within the normal subject of information clever processing trade.

VIYI derives its income primarily from (i) central processing algorithms companies for the web commercial and web gaming industries and (ii) clever chips and companies, together with software program improvement.

VIYI's income from central processing algorithms for the 12 months ended December 31, 2020 was RMB 307.8 million, which represents a rise of RMB 196.6 million, or 176.8%, from VIYI's complete revenues of RMB 111.2 million for the 12 months ended December 31, 2019. VIYI's gross revenue for the 12 months ended December 31, 2020 was RMB 125.2 million, representing a rise of RMB 61.1 million, or 95.3%, from RMB 64.1 million for the 12 months ended December 31, 2019. VIYI's internet revenue for the 12 months ended December 31, 2020 was RMB 91.5 million, representing a rise of RMB 48.1 million, or 110.7%, from RMB 43.4 million for the 12 months ended December 31, 2019.

VIYI enjoys steady and long-term strategic alliances with a lot of its prospects within the web commercial, gaming, and clever chip design and improvement. VIYI's prospects are web promoting integration businesses, on-line recreation builders and distributors, electronics producers, and web data infrastructure service suppliers who've entered right into a grasp settlement with VIYI and used its companies in keeping with such settlement through the related contact interval. VIYI's prospects sometimes enter right into a grasp settlement with VIYI for a hard and fast time period, which suggests VIYI is continually speaking with its prospects to assist them discover wants or purposes which can be optimized. As soon as that want is recognized, VIYI's prospects ship in a separate request for service engagements or merchandise, or each. VIYI's involvement in its prospects' strategy of figuring out wants means they depend on VIYI as trusted advisors to introduce them to trade developments and VIYI's newest technological developments. This shut collaboration creates a synergistic impact between VIYI and its prospects, which leads to excessive buyer loyalty.

Market chief in innovative expertise protected by mental property rights

The CIC Studies signifies that VIYI is the market chief when it comes to the amount of mental property. As of Could 25, 2021, VIYI owns 370 proprietary mental property rights, which embrace 273 copyrights of which 270 are software program copyrights, 37 patents, 23 registered logos, 18 unique rights for the format design of built-in circuit, and 19 domains. The massive amount of mental property at VIYI's disposal as in comparison with VIYI's rivals exemplifies VIYI's dedication to analysis and improvement and long-term improvement. For a comparability of the variety of mental property at VIYI's disposal as in comparison with VIYI's rivals, please see "Business Overview — Mental Property Rights Rating in The Discipline of Central Processing Algorithm Service."

VIYI leverages its fixation on staying within the forefront of technological improvement to assist prospects discover options and wishes which might be but to be recognized. VIYI then offers proprietary central processing algorithm options to fulfill these wants.

To take care of VIYI's market chief place, VIYI is seizing alternatives arising from the rising international software of rising applied sciences similar to cloud computing, AI, and 5G, by specializing in purposes stemming from these applied sciences which might be ripe for optimization by way of central processing algorithms. Within the 12 months ended December 31, 2020, VIYI expended RMB 14,887,439 in analysis and improvement; VIYI intends to commit extra investments sooner or later to enhance upon its analysis and improvement platform, retain gifted people within the subject of central processing algorithm expertise, and strengthen the analysis and improvement for core applied sciences and merchandise. VIYI's efforts for analysis and improvement have, and can proceed to safe VIYI's market chief place by way of technical limitations, which has allowed VIYI to remain afront and be the primary selection of VIYI's prospects.

In response to the CIC Report, benefiting from the event of IoT, cloud computing expertise, and the rising authorities funding, synthetic intelligence market measurement is within the strategy of speedy growth, and it's anticipated that the size of core industries will attain RMB 400 billion by 2025, representing a rise of RMB 350 billion between 2020 to 2025. The event of the substitute intelligence market will drive the expansion of the central processing algorithm clever chip optimization answer trade.

Sooner or later, IoT will present extra information assortment terminals, which dramatically enhances the information quantity. Huge information offers data sources for AI, cloud computing provides a bodily provider for AI, and 5G reduces the delay of information transmission and processing. 5G, IoT, cloud computing all put ahead increased information processing, evaluation, and different wants and necessities. The central processing algorithm clever chip options mixed with {hardware} efficiency optimization, software program algorithm optimization, and different very important applied sciences will make breakthrough progress sooner or later underneath the background of the more and more mature rising applied sciences similar to 5G, IoT, cloud computing, and massive information.

Tailor Perception (www.TailorInsight.com) offers simple and fast options that permit prospects to seize, monitor, and audit market information from a holistic view right down to a person process on market analysis and trade pattern insights.


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