BEIJING, June 8, 2022
/PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO)
("Luokung," "we," "our" or "us"), 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 a software service contract
to provide a digital twin service system, HD Map geographic
information services and vehicle-road collaboration ("V2X")
services for the smart highway monitoring center of the Heze
section of the Puyang-Yangxin Expressway ("Puxin Expressway Heze
Section"), which extends more than 400 kilometers from Puyang,
Henan Province to Yangxin,
Shandong Province.
Luokung's self-developed highway digital twin visualization
management and control platform (the "Platform") is based on the
Luokung Smart Digital Base and integrates multi-source data such as
HD Maps, environmental and meteorological monitoring, real-time
highway traffic, road, bridge and culvert infrastructure sensor
monitoring. The Platform provides a significant upgrade from
traditional static highway monitoring to a visualized, dynamic and
interactive online 3D highway digital twin software service
platform, realizing a real-time, accurate display and retrospective
restoration of road status and vehicle behaviors covering the
entire road section. With the Platform, Luokung expects to
implement real-time management of road sections, road network
traffic and service intervention, operation situation analysis and
judgment, simulations, traffic risk prediction, analysis and
prediction of road traffic operation control effect, to meet
various highway operation service demands and management needs
under both normal and emergency states for highway operation
departments.
Mr. Xuesong Song, Luokung's
Chairman and CEO, stated, "We are very pleased to announce the
launch of the Platform, which Luokung plans to utilize to provide
commercial services for the Puxin Expressway Heze Section. We
believe that signing this contract to provide services for the
smart highway monitoring center of the Puxin Expressway Heze
Section is a testament to Luokung's highway digital twin software
service platform and products, and to EMG's position in the smart
highway industry application field. After the successful
implementation of the early-stage national smart highway traffic
demonstration projects in Changjiu Expressway which we announced in
June 2021, the Company has gradually
established a comprehensive smart highway product and services
portfolio that supports autonomous V2X, which includes the highway
digital twin service platform as a product serving highway
operating departments. We are optimistic about the market
opportunity presented by highway intelligence services and remain
confident in our ability to secure contracts for additional
commercial service implementations in the future."
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 multi-sourced intelligent
spatial-temporal big data, Luokung has established city-level and
industry-level holographic spatial-temporal digital twin systems
and actively serves 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:
https://www.luokung.com.
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. In March 2021,
Luokung closed on the 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: +86-10-6506-5217
Email: ir@luokung.com
Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: csohn@equityny.com
Ms. Alice Zhang
Investor Relations Analyst
The Equity Group Inc.
Tel: 212-836-9610
Email: azhang@equityny.com
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SOURCE Luokung Technology Corp.