BEIJING, Nov. 24, 2020
/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
announced that on November 16, IDC
Consulting released a report on the market share of China's HD map solutions in 2019. According to
the report, since 2019, China's HD
map market has entered into the year when major players have been
seeking larger shares. From the perspective of market share, the HD
map solution market is mainly dominated by the top four domestic
map markers, Baidu, NavInfo, AMAP and EMG and holding 29.3%, 21.7%,
17.9% and 14.7%, respectively. 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.
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. It provides integrated DaaS, SaaS, and
PaaS services for Internet and Internet of Things of
Spatial-Temporal big data based on its patented technology. Based
on geographic information systems and intelligent Spatial-Temporal
big data, it establishes city-level and industry-level digital twin
holographic data models to actively serve smart cities, intelligent
transportation, smart industry, LBS. 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.
CONTACT:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com
INVESTOR RELATIONS
PureRock Communications Limited
Email: luokung@pure-rock.com
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SOURCE Luokung Technology Corp.