BEIJING, Sept. 13, 2021 /PRNewswire/ -- Luokung
Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), a
leading spatial-temporal intelligent big data services company and
provider of interactive location-based services ("LBS") and
high-definition maps ("HD Maps") in China, today announced that its operating
affiliate eMapGo Technology (Beijing) Co., Ltd. ("EMG"), a leading provider
of navigation and electronic map services in China, has signed an agreement to be the
technical service provider for the management of market and service
information for China Mobile Group Heilongjiang Co., Ltd.
("Heilongjiang Mobile"), the Heilongjiang division for China Mobile, the
leading telecommunications provider in mainland China. This agreement is in effect through
December 31, 2022.
The Heilongjiang Mobile contract is Luokung's first new client
win in the telecommunication industry since it launched its
Internet LBS B2B business, which the Company has been actively
expanding since its acquisition of EMG. Luokung's Internet LBS B2B
business integrates Luokung Super Engine's full vector technology
with EMG's precision map data capabilities. The Company has
launched a series of B2B LBS services and products in various
industries and business settings. With its ability to process and
analyze real-time operations data reflecting behaviors using big
data algorithms and present such data on a dynamic, personalized
map, Luokung is able to help its customers manage their businesses
and more quickly achieve their business goals. At the same time,
Luokung's hybrid cloud solution supports the private deployment of
all customer service data in an intranet environment, providing the
highest level of data security.
Mr. Xuesong Song, Chairman and
CEO, stated, "We are pleased to engage with Heilongjiang Mobile and
look forward to working closely with their team to implement
technical data services to better serve their customers. This
client win with the most reputable company in China's telecommunications industry is an
important step forward for our Company's LBS B2B business. We
believe this represents a tremendous opportunity for the expansion
of our business to operators throughout the country."
About Luokung Technology Corp.
Luokung Technology Corp. is a leading spatial-temporal
intelligent big data services company, as well as a leading
provider of LBS and HD Maps for various industries in China.
Backed by its proprietary technologies and expertise in HD Maps and
related intelligent spatial-temporal big data, Luokung establishes
city-level and industry-level holographic spatial-temporal digital
twin systems serving industries including smart transportation
(autonomous driving, smart highway and vehicle-road collaboration),
natural resource asset management (carbon neutral and environmental
protection remote sensing data service), and LBS smart industry
applications (mobile Internet LBS, smart travel, smart logistics,
new infrastructure, smart cities, emergency rescue, among
others). The Company routinely provides important updates on
its website: www.luokung.com/en.
ABOUT EMAPGO
eMapgo, a variable interest entity ("VIE") of Luokung, is a
leading provider of navigation and electronic map services
in China, as well as a leading provider in Internet map
services, geographic information system engineering and other
A-level mapping qualifications. EMG possesses the National Class-A
qualification certificates of navigable Surveying and Mapping, and
actively develops autonomous driving and HD Map services.
Effective March 17, 2021, Luokung consummated its acquisition
of EMG through the purchase of the equity interests of Saleya
Holdings Limited, which, through a series of contracts between its
wholly-owned subsidiary DMG Infotech Co., Ltd. and EMG, made EMG
Luokung's VIE. For more information, please visit EMG's
website: www.emapgo.com.cn.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains certain forward-looking statements.
Forward-looking statements include, but are not limited to,
statements regarding our or our management's expectations, hopes,
beliefs, intentions or strategies regarding the future and other
statements that are other than statements of historical fact. In
addition, any statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking
statements. The words "anticipate", "believe", "continue", "could",
"estimate", "expect", "intend", "may", "might", "plan", "probable",
"potential", "should", "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
The forward-looking statements in this press release are based
upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, management's
examination and analysis of the existing law, rules and regulations
and other data available from third parties. Although we believe
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you the statement herein will
be accurate. As a result, you are cautioned not to rely on any
forward-looking statements.
CONTACT:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com
Investor Relations:
Adam Prior
Senior Vice President
The Equity Group Inc.
Tel: 212-836-9606
Email: aprior@equityny.com
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SOURCE Luokung Technology Corp.