WiMi Hologram Cloud (WIMI) said Thursday that it has increased its stake in MicroAlgo (MLGO) to about 68%.

The company said it holds MicroAlgo's 40,000 class A common shares, 1.8 million restricted class A common shares, and about 44.9 million restricted class B common shares.

WiMi said it committed to a 10-year lock-up period for the MicroAlgo shares it owns.

WiMi shares were up 6.8%, while MicroAlgo shares jumped 17% in recent trading.

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