BEIJING, March 19, 2019 /PRNewswire/ -- Luokung Technology Corp. (LKCO) ("Luokung" or the "Company"), one of the global leading spatial-temporal big-data processing technology companies, and a leading interactive location-based services company in China, today announced it had signed a Service Cooperation Framework Agreement (the "Agreement") with Shenzhen Ping An Comprehensive Financial Services Co. Ltd. ("Ping An Financial Services"). Pursuant to the Agreement of establishing resource, information, and technology cooperation, Luokung will provide its spatial-temporal cloud indexing technology and the world's leading vector data processing and algorithm technology to be integrated with Ping An Financial Services' business operation. On the strength of the full vector, non-tiled, mobile Internet map, Luokung is able to provide Ping An Financial Services a stable, flexible, and efficient spatial-temporal cloud computing platform. Ping An Financial Services will provide Luokung with Internet financial platform services including online financial security, settlement and third-party payment.
Luokung and Ping An Financial Services will utilize their respective resources and capitals, and leverage on Luokung's expertise in spatial-temporal big data technology. The two parties will provide leading products and services to domestic and overseas clients and seek opportunities to expand cooperation in related business domains. Meanwhile, both parties also have agreed to establish a regular communication mechanism for the senior managements to further collaborate and coordinate in strategy and operations. Both parties will work together to optimize mutual resources to achieve win-win and synergy.
Ping An Financial Services is the online platform providing comprehensive financial services to individual customers and it is a subsidiary of Ping An Insurance (Group) Company of China, Ltd.("Ping An Group"). Ping An Group has been developing into an integrated and vastly diversified financial services group including financing, insurance, banking and investment. It is ranked the 10th in The World's 2,000 Largest Public Companies by Forbes, and ranked the 1st among global insurance companies. It is also ranked the 29th in US Fortune 500. In accordance to the "finance + technology" and "financial + ecological" strategy of Ping An Group, Ping An Financial Services focuses on three major aspects including services, sales and strategy, its business covers customer service, customer management, shared services, strategic synergy and product sales and It has formed six core competencies of intelligent customer service, value service sales, strategic coordination, data marketing, lean operation and online migration of group customers. It is providing comprehensive financial services for 184 million Ping An individual customer and 65 professional companies.
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. 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, which 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