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.
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.
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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.
Mr. Jay Yu
Chief Financial Officer
Senior Vice President
The Equity Group Inc.
Source: Luokung Technology Corp.