BEIJING, Jan. 31, 2019 /PRNewswire/ -- Luokung Technology
Corp. (LKCO) ("Luokung" or the "Company"), one of global leading
spatial-temporal big-data processing technology company, a leading
interactive location-based services company in China, today
announced that it has signed a cooperation agreement with Yunaliyun
Internet Limited (or "Yuanliyun") to restructure Beijing Yuanli
Anda Technology Limited (or "Yuanli
Anda"). For the purpose of providing China Railway Gecent
Technology Co., Ltd. ("Gecent") with better location-based (LBS)
services, Yuanli Anda will be
responsible for managing, developing, operating and supporting the
indoor and outdoor LBS business covering On-way, destination, and
High-speed train station.
Yuanliyun is the largest indoor mapping and positioning
technology service provider in China. It currently provides indoor
navigation, maps and location-based services for over
20,000 public buildings. Its
service is expected to cover up to 0.2M public buildings in the coming 2 to 3
years.
In November 2018, Yuanliyun
engaged a cooperation agreement with Gecent. It provides the
High-speed train station with indoor navigation service, LBS and
OTO services to the users of Gecent's mobile application named
High-speed Train on Hands, and also provides the destination and
life cycle LBS services to the users based on its covered indoor
maps for the public buildings. Yuanliyun has already provided the
map and location navigation service for more than 50 High-speed
train stations. Yuanli Anda was
formed by Yuanliyun to be the builder and operator of the
High-speed train station LBS business project between Yuanliyun and
Gecent.
In November 2018, Luokung engaged
a cooperation agreement with Gecent. Luokung authorizes High-speed
Train on Hands to obtain the specified data of LBS in connection
with On-way and destination personalized map service through SDK
and API that Luokung provided.
In light of the high degree of integration of indoor and outdoor
LBS and highly collaborative services among railway station,
surrounding area, On-way and destination. Also, in order to better
serve the LBS project of Gecent, Luokung and Yuanliyun will
transfer their business entered separately with Gecent to
Yuanli Anda, and Yuanli Anda will be responsible for the
development and operation of the related business and products,
including station map navigation, station location service, OTO
services in the station, the LBS for On-way and destination. In
addition, Yunaliyun will give priority to provide Yuanli Anda with its indoor location data
collected and will be collected from all the public buildings to
facilitate the commercial use.
In the future, Yuanli Anda will
also actively promote indoor LBS of public buildings and spatial
temporal data services, and its goal is to be the largest provider
for indoor LBS of public buildings and spatial temporal data
services.
About China Railway Gecent Technology Co., Ltd.
Gecent is the first mixed ownership reform of state-owned
enterprises of China Railway Investment Co., Ltd (CRIC), Geely
Holding Group (Geely) and Tencent
Holdings Ltd (Tencent) (stock ticker:
00700) holds 51%, 39%, 10% of shareholding in Gecent, respectively.
Gecent is in charge of the construction and operation of Wi-Fi
platform on every High-speed train in China. It provides travelling services of
integration of station and vehicle and online-offline collaboration
for passengers through its mobile application software named
"High-speed Train on Hands". It is the major service provider for
Chinese railway travelling. The WiFi business will be deployed on
all the high-speed trains in China
and will cover about 3 billion passenger trips till the year of
2020.
About Luokung Technology Corp.
Luokung Technology Corp. is one of global leading
spatial-temporal big-data processing technology company and a
leading interactive location-based services company in China. The core brands of the Company are
"Luokuang" and "SuperEngine". "Luokuang" is a mobile application to
provide B2C services and "SuperEngine" provides B2B and B2G
services in connection with Spatial-Temporal big data. The
Company's mobile application LuoKuang, provides location- based
interaction services for users based on the world's first
non-slicing, full-vector and full-function mobile internet map, it
also provides SDK embedded services to third-party mobile
application providers based on its full-vector and non-slicing
mobile internet map. The Company provides SaaS services in relation
to spatial-temporal big data internet and internet of things
relying on its proprietary patented spatial-temporal cloud indexing
technology, in fields including but not limited to HD Map, 3D Map,
Satellite Remote Sensing Data and Real-time trajectory. For more
information please go to http://www.luokung.com.
Business Risks and Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will", "expects", "anticipates",
"future", "intends", "plans", "believes", "estimates", "target",
"going forward", "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
For investor and media inquiries, please contact:
At the Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: yujie@luokung.com
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SOURCE Luokung Technology Corp.