BEIJING, March 5, 2019 /PRNewswire/ -- Luokung Technology Corp. (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 wholly owned subsidiary Shenzhen Jiu Zhou Shi Dai Digital and Technology Limited ("Jiu Zhou Shi Dai") recently engaged a cooperation agreement with China Railway Gecent Technology Co., Ltd. ("Gecent") to provide movie content SDK, movie copyrights and operating services for "High-Speed Train in Hands" APP (the "APP"). As the exclusive Wi-Fi operator for high-speed trains in China, Gecent is able to provide travelling services for more than 2 billion passenger trips annually. The on-train entertainment service is one of the most important services for travelling passengers.
The Company will cooperate with Gecent to exclusively operate the movie content on the APP. There will be an exclusive channel for the Company to provide up to 1,000 domestic and foreign movies for passengers. The APPusers are able to continue enjoying their movies when they arrive at the destination from the APP or the Company's independent proprietary movie APP. The source of revenue is derived from pre-roll adverts and pay-view movies. The revenue generated on train will be shared between two parties.
The Company is also the strategic partner of Gecent for LBS along railway and LBS of indoor station.
About China Railway Gecent Technology Co., Ltd.
Gecent is the first mixed ownership reform of state-owned enterprises of China Railway Investment Co., Ltd (CRIC), Geely Holding Group (Geely) and Tencent Holdings Ltd (Tencent) (stock ticker: 00700) holds 51%, 39%, 10% of shareholding in Gecent, respectively. Gecent is in charge of the construction and operation of Wi-Fi platform on every High-speed train in China. It provides travelling services of integration of station and vehicle and online-offline collaboration for passengers through its mobile APPlication software named "High-speed Train on Hands". It is the major service provider for Chinese railway travelling. The WiFi business will be deployed on all the high-speed trains in China and will cover about 3 billion passenger trips till the year of 2020.
About Luokung Technology Corp.
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.
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.
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