BEIJING, Dec. 1, 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 eMapgo Technologies (Beijing) Co., Ltd. ("EMG") and Beijing Sinotrans Transportation Co., Ltd. ("Beijing Sinotrans"), a subsidiary of Sinotrans, which is China's largest comprehensive logistics company, engaged in a cooperation agreement that EMG will build an urban distribution service platform for Beijing Sinotrans to improve the management of its logistics operations and optimize the efficiency of its enterprise operations with intelligent geographic location services. 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.
EMG will undertake the development of Beijing Sinotrans Urban Distribution Service Platform, provide intelligent logistics GIS services and corresponding technical services for the platform's customer applications and management components based on location and map services, operation, and management.
This cooperation between EMG and Sinotrans is an auspicious beginning of future collaborations. The two parties will jointly build innovative applications in the logistics field and lay a solid foundation for a smart logistics platform.
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.
Mr. Jay Yu
Chief Financial Officer
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SOURCE Luokung Technology Corp.