Luokung Affiliate eMapgo Commercializes Its Expressway Digital Twin Software Services for Puxin Expressway Heze Section

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: Email Contact  

Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: Email Contact

Ms. Alice Zhang
Investor Relations Analyst
The Equity Group Inc.
Tel: 212-836-9610
Email: Email Contact

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SOURCE Luokung Technology Corp.

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Company Name: Luokung Technology Corp.
Financial data for Luokung Technology Corp.




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