TECHNOLOGY

Luokung Publicizes Acquisition of Beijing Hongda Jiutong Applied sciences Enchancment Co., Ltd

BEIJING, March 29, 2022 /PRNewswire/ — Luokung Technological innovation Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”), a foremost spatial-temporal intelligent giant info providers enterprise and firm of interactive spot-based largely skilled providers (“LBS”) and higher-definition maps (“Hd Maps”) in China, proper now launched the signing of an settlement pursuant to which the Agency’s functioning affiliate, Beijing Zhong Chuan Shi Xun Engineering Confined, has agreed to obtain Beijing Hongda Jiutong Know-how Enchancment Co., Ltd (“Hongda Jiutong”). The Company expects to close this transaction by the conclusion of the subsequent quarter of 2022.  

Hongda Jiutong is a high massive information firm supplier for intelligent transportation and linked autos in China and owns 29 patented applied sciences and copyrights masking options of automated know-how of Excessive definition Map data, assisted driving and information examination varieties of related vehicles and vehicles. Via the skilled providers it provides to OEMs, Hongda Jiutong’s clever algorithm reaches 10 million autos and covers streets nationwide, enabling the corporate to supply secure, power-economical and intelligent transportation services to its OEM patrons, like true-time car operation information analysis and automotive or truck vitality-conserving options. Hongda Jiutong’s clients embody additional than 20 home and intercontinental OEMs and related enterprises this type of as FAW Staff, Dongfeng Motor and Foton Motor.

Mr. Xuesong Track, Luokung’s Chairman and CEO, talked about, “We’re extremely happy to welcome Hongda Jiutong and its established identify inside the transportation main information market lower than the Luokung umbrella. We predict that Hongda Jiutong’s seasoned technical workers will provide our Agency with aggressive rewards in every sensible transportation and OEM giant particulars investigation. Hongda Jiutong’s CEO, Dr. Chuanjiu Wang, is broadly acknowledged for his instructional and small enterprise achievements in Computerized Terminal Details Companies (ATIS) and vital info analysis of the Web of Motor autos, and the Luokung administration workers and I look ahead to functioning with him carefully to combine Hongda Jiutong’s secure and sound and expert auto data processing talents into Luokung’s current service portfolio. We imagine Hongda Jiutong’s expertise within the basic particulars of autos will empower Luokung to achieve speedier industrial implementation in autonomous driving and automotive or truck-road collaboration (‘V2X’).”

Mr. Track extra, “We think about leveraging Hongda Jiutong’s technological talents with Luokung’s spatial-temporal vital information processing and evaluation system will enormously enhance our sensible expressway and freeway info administration program capabilities, which is predicated on Hd Maps. We imagine this acquisition is a strategic carry out within the long-time interval development of Luokung’s intelligent transportation small enterprise by introducing chopping-edge aggressive optimistic facets, which we anticipate will drive long term firm development and income progress.”

Dr. Wang commented, “We’re actually completely satisfied to be a aspect of Luokung’s Intelligent Transportation enterprise enterprise. We’re assured that our deep experience in freeway downside data and info and motor vehicle-conclude basic information will assist Luokung in optimizing its V2X system and velocity up the implementation of V2X-centered autonomous driving in lots of modes of transportation. Blended with Luokung’s digital base and spatial-temporal huge info motor, Hongda Jiutong intends to function intently with Luokung to ship diversified firms just like underlying spatial-temporal huge information to its associates and conclude folks within the fields of autonomous driving, assisted driving and intelligent transportation.”

About Luokung Technological know-how Corp.

Luokung Applied sciences Corp. is a main spatial-temporal clever main data providers company, as properly as a fundamental service supplier of LBS and Hd Maps for a lot of industries in China. Backed by its proprietary applied sciences and expertise in Hd Maps and multi-sourced sensible spatial-temporal main info, Luokung acknowledged metropolis-degree and business-stage holographic spatial-temporal digital twin methods and actively serves industries together with clever transportation (autonomous driving, clever freeway and automotive or truck-road collaboration), all-natural supply asset administration (carbon impartial and environmental protection distant sensing data firm), and LBS sensible market applications (cell Web LBS, clever journey, smart logistics, new infrastructure, intelligent cities, emergency rescue, amongst others). The Enterprise routinely affords vital updates on its web website: https://www.luokung.com.

ABOUT HONGDA JIUTONG

Hongda Jiutong Applied sciences Enchancment Co., Ltd. is a number one higher-tech agency in China focused on testing the value of serious info for intelligent transportation and related vehicles. Hongda Jiutong collects web site visitors data and info and discrete information of associated autos, and by the use of investigation and processing, presents a multi-dimensional portfolio of information utility items in transportation, logistics, car, insurance coverage coverage, cellular Internet, finance and different industries. On account of its in-depth data profit exploration, Hongda Jiutong offers shoppers with main data providers and treatments.

CAUTIONARY Assertion Regarding Ahead-Looking out STATEMENTS

This press launch comprises specified ahead-on the lookout statements. Forward-on the lookout statements encompass, however are usually not restricted to, statements relating to our or our administration’s expectations, hopes, beliefs, intentions or approaches relating to the upcoming and different statements which are apart from statements of historic reality. As well as, any statements that seek advice from projections, forecasts or different characterizations of long run capabilities or situations, which incorporates any basic assumptions, are ahead-seeking statements. The textual content “foresee”, “suppose”, “stick with it”, “may”, “estimate”, “anticipate”, “intend”, “could nicely”, “may”, “put together”, “possible”, “probably”, “must”, “would” and equal expressions could nicely detect forward-looking statements, however the absence of those phrases doesn’t recommend {that a} assertion will not be ahead-hunting.

The forward-on the lookout statements on this press launch are based mostly totally on varied assumptions, fairly just a few of that are primarily based, in change, on extra assumptions, which embody with out having limitation, administration’s analysis and analysis of the present regulation, laws and guidelines and different particulars provided from third occasions. Whereas we really feel that these assumptions have been smart when produced, given that these assumptions are inherently matter to vital uncertainties and contingencies that are exhausting or extraordinarily exhausting to foretell and are past our administration, we merely can not guarantee you the assertion herein might be actual. As a last consequence, you’re cautioned to not rely upon any forward-on the lookout statements.

Get in contact with:

The Enterprise:
Mr. Jay Yu
Most important Fiscal Officer
Tel: +86-10-6506-5217
E mail: [email protected]

Investor Relations:
Ms. Carolyne Sohn
Vice President
The Fairness Group Inc.
Tel: 415-568-2255
E-mail: [email protected]

Provide Luokung Technological innovation Corp.

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