BEIJING, Jan. 29, 2019 /PRNewswire/ -- Luokung Technology Corp. (Nasdaq: LKCO) ("Luokung" or the "Company"), one of global leading spatial-temporal big-data processing technology company, a leading interactive location-based services company in China, today announced its strategic partnership with Beidou Navigation and Location Service (Beijing) Limited ("China-LBS"), which is the builder and operator of Beidou Navigation and Location Service Industrial Public Platform. The partnership aims at providing a leading spatial-temporal big data platform service in the area of intelligent transportation to the Company's users.
China-LBS has been made the designated public platform for location-based services by Beijing government. China-LBS' platform has significant data resources in the navigation and location-based services industry, including aerial images data, satellite images data, digital elevation models, vector topography, geographical names database, navigation electronic maps, nautical charts and navigation channel charts, meteorological and hydrological data, users' location data of terminals. The platform also has significant shared bicycle tracks, transport and personal vehicle tracks in Beijing area. The accumulated data is over 200T (TrillionByte). In addition, it provides lane-level high-precision location-based services on top of its lane data with centi-meter level accuracy for the express way.
Luokung processes the world leading spatial-temporal cloud indexing technology and vector data processing technology, which can quickly unlock the value of the data through efficient processing of massive spatial-temporal data.
Combining the strength of the massive data resources of Beidou navigation and location, and Luokung's advanced technology in dynamic location data analysis, HD Map and real-time analysis, the partnership allows Luokung to further extend the reach and capability of its urban traffic neural network, and to provide the foundation for Autonomous Driving, Intelligent Network, Smart Traffic and Smart City.
Luokung will provide China-LBS with stable, elastic, efficient spatial-temporal cloud computing support based on its full-vector, non-slicing mobile internet map. The two parties will jointly build a public location service platform for information interchanging, data sharing, resource integration and application integration.
Both parties will promote the application of Beidou, offer innovative location-based services in wide range of business scenarios, and jointly build a full Spatial-temporal Big Data Integrated Management Platform in the area of intelligent transportation that covers expressway, inland marine, fleet operation, travel sharing and other applications. They will together create a bright future for spatial-temporal services.
Luokung Technology Corp. is one of global leading spatial-temporal big-data processing technology company and a leading interactive location-based services company in China. The core brands of the Company are "Luokuang" and "SuperEngine". "Luokuang" is a mobile application to provide B2C services and "SuperEngine" provides B2B and B2G services in connection with Spatial-Temporal big data. The Company's mobile application LuoKuang, provides location- based interaction services for users based on the world's first non-slicing, full-vector and full-function mobile internet map, it also provides SDK embedded services to third-party mobile application providers based on its full-vector and non-slicing mobile internet map. The Company provides SaaS services in relation to spatial-temporal big data internet and internet of things relying on its proprietary patented spatial-temporal cloud indexing technology, in fields including but not limited to HD Map, 3D Map, Satellite Remote Sensing Data and Real-time trajectory.
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.
For investor and media inquiries, please contact:
At the Company:
Mr. Jay Yu
Chief Financial Officer