BEIJING, Oct. 13, 2021 – 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 (“LBS”) and high-definition maps (“HD Maps”) in China, today announced that its operating affiliate eMapgo Technology (Beijing) Co., Ltd. (“EMG”), a leading provider of navigation and electronic map services in China, introduced a high-definition visualization digital twin system of gas stations jointly created by EMG and Parking Sm@rt, a pioneer and promoter of China’s non-inductive payment technology, at the CNPC 2021 Technology and Innovation Conference hosted by PetroChina Company Limited (“PetroChina”) in Beijing.
This system relies on digital twin technology to integrate high-precision two- and three-dimensional Geographic Information System (“GIS”) and vector modeling data and summarizes the operation information of various systems and equipment. as well as real-time dynamic perception monitoring data, to achieve real-time surveillance and control of a gas station. The system also uses video GIS, image recognition, simultaneous localization and mapping (“SLAM”) positioning and other technologies, combined with centimeter-level high-precision vector map data, to realize site-level "car-station collaboration" services and provide assistance in refueling vehicles to achieve L3-L5 level gas station rapid dispatch and automatic refueling functions. This new system also allows for various new forms of marketing, whereby payment institutions and gas stations can jointly market promotions on multiple screens for various occasions. The new system aims to provide enhanced and more convenient capabilities for gas station management departments at all levels.
ABOUT LUOKUNG TECHNOLOGY CORP.
Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company, as well as a leading provider of 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, among others).
eMapgo, a variable interest entity (“VIE”) of Luokung, is a leading provider of navigation and electronic map services in China, as well as a leading provider in Internet map services, geographic information system engineering and other A-level mapping qualifications. EMG possesses the National Class-A qualification certificates of navigable Surveying and Mapping, and actively develops autonomous driving and HD Map services. In March 2021, Luokung closed on the acquisition of EMG through the purchase of the equity interests of Saleya Holdings Limited, which, through a series of contracts between its wholly-owned subsidiary DMG Infotech Co., Ltd. and EMG, made EMG Luokung's VIE.
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