BEIJING, Nov. 26, 2019 /PRNewswire/ -- Luokung Technology
Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), one of the
global leading spatial-temporal big-data processing technology
companies, a leading interactive location-based services company in
China, today has announced eMapgo
Technologies (Beijing) Co., Ltd.
("EMG") successfully bid
for the Beidou high-precision digital map integration
construction and application project, which was initiated by the Chinese Aero
Natural Resources Survey and Remote Sensing Center.
Luokung has engaged in a share
purchase agreement to acquire 100% of EMG and announced that the two parties are
currently in the process of closing the transaction.
As the only contractor of the project, EMG dedicates its
professional technologies and leading advantages in digital map
navigation to assisting
the Chinese Aero Natural Resources Survey and Remote
Sensing Center to build the high-precision digital map
database in sub-meter level, lane-level navigation application
platform and to develop thousands of lane-level navigation
application terminals. This project will provide high-precision
digital map demonstration services in internet of vehicles, internet travel, logistics and
transportation, automatic driving, and urban transportation.
The project is a national-level demonstration project for Beidou
in high-precision positioning and intelligent travel application.
It has great meaning for future intelligent transportation,
high-precision positioning and navigation, automatic driving
technical specifications and application promotion.
About eMapgo Technologies (Beijing) Co., Ltd.
eMapgo Technologies (Beijing)
Co., Ltd. is one of the leading navigation electronic map service
providers in China and has
obtained Class-A qualification certificates of navigable surveying
and mapping, internet map service and geographic information system
engineering. It has also obtained quality management system
certificates of ISO9001 and ISO/TS16949 and CMMI3. Its core brand
is "eMapgo". EMG provides users with navigation electronic maps,
ADAS maps and HD maps of China, as
well as geographic location information service through its own map
service platform. Its map database has covered mainland
China, Hong Kong and Macao with over 9-million-kilometer road
networks and 80 million POIs. EMG is a top three mapping company in
automotive in-dash navigation market of China.
About Luokung Technology Corp.
Luokung Technology Corp. is one of the global leading
spatial-temporal big-data processing technology companies and a
leading interactive location-based services company in China. The core business brands of the Company
are "Luokuang" and "Superengine" . The Company mainly provides
spatial temporal big data PaaS, SaaS and DaaS intelligent services
based on its self-developed patented technology which can be
applied in Mobile Internet LBS, Internet Travelling, Intelligent
Transportation, Automatic Drive, Smart City, Intelligent IoT,
Natural Resources Exploration and Monitoring and so on. These
services are integrated intelligent computing and application
services for spatial temporal data which including but not limited
to Satellite and UAV Remote Sensing Image Data, HD Map, 2D and 3D
Internet Map, Real-time Trajectory, IoT Industrial Stream Data. 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.
SOURCE Luokung Technology Corp.