MicroCloud Hologram stock reports 34 percent H1 revenue growth

MicroCloud Hologram stock stood at USD 1.70 on Nasdaq on September 23, 2026, down 4.49 percent for the session, while first-half revenue rose 34 percent year over year to RMB 213.8 million. The latest figures show stronger holographic solutions demand alongside a sharp deterioration in profitability.

Revenue rises as losses widen

According to Moomoo, MicroCloud Hologram generated RMB 213.8 million in revenue for the six months ended June 30, 2026, compared with RMB 159.6 million in H1 2025. Holographic solutions revenue climbed 115 percent to RMB 140.7 million, while holographic technology service revenue fell 22 percent to RMB 73.1 million.

The revenue increase did not translate into earnings growth. MicroCloud Hologram reported a net loss of RMB 111.8 million in H1 2026, versus net income of RMB 238.1 million in the prior-year period, with investment losses of RMB 134.1 million contributing to the reversal.

Margin pressure sharpens the risk

Gross profit declined to RMB 29.4 million, and gross margin fell from 22.4 percent in H1 2025 to 13.7 percent in H1 2026. Operating expenses decreased 43.7 percent to RMB 19.8 million, including a 63.9 percent reduction in research and development spending to RMB 8.7 million, according to Moomoo.

Customer concentration adds another dimension to the results. The customer count dropped 53.6 percent to 39, while customers generating more than RMB 0.5 million represented 99.1 percent of total revenue in the six months ended June 30, 2026.

HOLO remains below its yearly high

HOLO's September 23 price of USD 1.70 was USD 3.96 below its 52-week high of USD 5.66 and USD 0.27 above its 52-week low of USD 1.43. Market capitalization stood at USD 22,399,926 on the same date, putting the stock's market value well below the level implied by its first-half revenue.