BEIJING, May 2, 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 high-quality movie entertainment service independent brand -- Facee Cinema -- has recently achieved to provide movie entertainment service for both on-train and off-train scenes, which enables users to continue to watch movies through the Facee Cinema embedded in the "High-Speed Train on Hands" APP after users get off the high-speed train. The Facee Cinema has now become one of the most popular services for passengers using entertainment content services.
The Company previously announced it has entered a cooperation agreement (the "Agreement") with China Railway Gecent Technology Co., Ltd. ("Gecent") to provide movie content SDK, movie copyrights and operating services for the "High-Speed Train on Hands" APP. The Facee Cinema is a high-quality video entertainment service independent brand developed by the Company and Gecent based on the Agreement and was launched on the "High-Speed Train on Hands" APP in January 2019.
Luokung expects that the Facee Cinema will implement functions including members' access, pay-view movies and so on in June 2019. The Company will provide up to 1,000 domestic and foreign movies for passengers. Meanwhile, the Company expects to launch the Facee Cinema's independent mobile phone APP in August 2019. The Company anticipates the Facee Cinema to become a premium network content broadcast channel and a content distribution platform operator for high-speed trains, airports and other high-quality channels.
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) which are holding 51%, 39%, 10% of shares in Gecent, respectively. Gecent is in charge of the construction and operation of Wi-Fi platform on every High-speed train in China. Through its mobile APP called "High-speed Train on Hands", it provides travel services that are integrated in stations and vehicles, enabling passengers' online-offline collaboration. It is the major service provider for Chinese railway travelling. The WiFi business will be deployed in all high-speed trains in China and will cover about 3 billion passenger trips by year 2020.
About Luokung Technology Corp.
Luokung Technology Corp. is a 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 that provides 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 interactive 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.