Luokung Announces Subsidiary eMapgo's Contract Win for New Generation Traffic Control Network and Smart Highway Demonstration Project

BEIJING, June 18, 2021 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), a leading Spatial-Temporal intelligent big data services company and provider of interactive location-based services and HD Maps in China, today announced that its wholly owned subsidiary eMapgo Technologies (Beijing) Co., Ltd. ("EMG"), a leading provider of navigation and electronic map services in China, has entered into a contract to deliver a new generation traffic control network and smart highway demonstration project for the Changjiu Expressway in the Jiangxi Province of China.

According to the terms of the contract, EMG will be responsible for the development and implementation of a 3D real-life highway digital management system for the new generation smart highway demonstration project for the Changjiu Expressway. A digital management system will provide real-time road information and intelligent operation management to support the latest smart transportation, such as lane navigation, autonomous driving, road coordination and vehicle-road collaboration ("V2X"), while increasing safety and decreasing congestion for improved road maintenance and management.

Luokung's smart transportation business includes both car-terminal service and road-terminal service, providing autopilot HD Map data services for car manufacturers and developing smart road digital services.

Mr. Xuesong Song, Chairman and CEO, stated, "We are excited about EMG's selection as the provider for this innovative smart highway project in Jiangxi, which we believe is a testament to our leading position in Spatial-Temporal data processing technology and high-precision map data service capabilities. This is a new generation traffic control network and smart highway demonstration project, and Changjiu Expressway would be China's first highway that is based on this new intelligent management system, which supports road coordination and a V2X operating system. We are confident that EMG's work on this project will have a positive impact on the Company's future business prospects in smart transportation."

About Luokung Technology Corp.

Luokung Technology Corp. is a leading Spatial-Temporal intelligent big data services company, as well as a leading provider of location-based services (LBS) and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and related intelligent Spatial-Temporal big data, Luokung established city-level and industry-level holographic Spatial-Temporal digital twin systems and actively serves industries including autonomous driving, vehicle-road collaboration (V2X), smart transportation, smart travel, local business LBS, new infrastructure, smart cities, and smart industries (emergency, natural resources, environmental protection, water conservancy, energy, smart training, etc.).

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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: +86-10-5327-4727
Email: ir@luokung.com

Investor Relations:
Adam Prior
Senior Vice President
The Equity Group Inc.
Tel: 212-836-9606
Email: aprior@equityny.com

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SOURCE Luokung Technology Corp.