Luokung Announces Acquisition of Beijing Hongda Jiutong Technology Development Co., Ltd


BEIJING, March 29, 2022 /PRNewswire/ — Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Organization”), a main spatial-temporal smart major knowledge products and services organization and service provider of interactive locale-based mostly expert services (“LBS”) and significant-definition maps (“Hd Maps”) in China, right now introduced the signing of an settlement pursuant to which the Firm’s working affiliate, Beijing Zhong Chuan Shi Xun Technology Restricted, has agreed to get Beijing Hongda Jiutong Technology Improvement Co., Ltd (“Hongda Jiutong”). The Firm expects to close this transaction by the end of the 2nd quarter of 2022.  

Hongda Jiutong is a foremost major data support supplier for clever transportation and linked motor vehicles in China and owns 29 patented technologies and copyrights masking features of computerized generation of High definition Map details, assisted driving and information assessment models of linked autos. Through the expert services it gives to OEMs, Hongda Jiutong’s clever algorithm reaches 10 million motor vehicles and handles roads nationwide, enabling the organization to offer safe, energy-economical and smart transportation expert services to its OEM prospects, which include authentic-time automobile operation information evaluation and vehicle electrical power-preserving answers. Hongda Jiutong’s shoppers include extra than 20 domestic and worldwide OEMs and similar enterprises such as FAW Team, Dongfeng Motor and Foton Motor.

Mr. Xuesong Track, Luokung’s Chairman and CEO, mentioned, “We are incredibly pleased to welcome Hongda Jiutong and its recognized status in the transportation significant information field under the Luokung umbrella. We think that Hongda Jiutong’s expert technological crew will give our Business with competitive pros in equally smart transportation and OEM huge data investigation. Hongda Jiutong’s CEO, Dr. Chuanjiu Wang, is broadly acknowledged for his tutorial and enterprise accomplishments in Automated Terminal Info Service (ATIS) and huge information assessment of the Internet of Vehicles, and the Luokung management workforce and I glance forward to working with him intently to integrate Hongda Jiutong’s protected and experienced auto knowledge processing capabilities into Luokung’s existing service portfolio. We feel Hongda Jiutong’s experience in the underlying information of motor vehicles will empower Luokung to realize speedier industrial implementation in autonomous driving and car or truck-highway collaboration (‘V2X’).”

Mr. Track additional, “We think leveraging Hongda Jiutong’s technological abilities with Luokung’s spatial-temporal massive info processing and assessment system will enormously increase our clever expressway and highway details management procedure capabilities, which is centered on High definition Maps. We feel this acquisition is a strategic play in the lengthy-phrase growth of Luokung’s wise transportation organization by introducing slicing-edge competitive positive aspects, which we foresee will push long term small business expansion and income growth.”

Dr. Wang commented, “We are quite pleased to be a component of Luokung’s Sensible Transportation enterprise. We are assured that our deep skills in road ailment info and vehicle-close underlying details will assistance Luokung in optimizing its V2X system and accelerate the implementation of V2X-based mostly autonomous driving in numerous modes of transportation. Mixed with Luokung’s electronic base and spatial-temporal massive details engine, Hongda Jiutong intends to perform closely with Luokung to supply diversified companies linked to fundamental spatial-temporal major info to its partners and stop end users in the fields of autonomous driving, assisted driving and intelligent transportation.”

About Luokung Technological know-how Corp.

Luokung Technology Corp. is a major spatial-temporal clever huge data expert services corporation, as perfectly as a main supplier of LBS and High definition Maps for several industries in China. Backed by its proprietary systems and experience in Hd Maps and multi-sourced smart spatial-temporal large data, Luokung recognized metropolis-level and sector-level holographic spatial-temporal digital twin units and actively serves industries including sensible transportation (autonomous driving, clever freeway and vehicle-highway collaboration), all-natural source asset management (carbon neutral and environmental protection remote sensing details assistance), and LBS intelligent market apps (cell Net LBS, clever vacation, intelligent logistics, new infrastructure, intelligent metropolitan areas, crisis rescue, among other folks). The Firm routinely provides significant updates on its web page:


Hongda Jiutong Technology Development Co., Ltd. is a foremost large-tech corporation in China focused on discovering the value of big knowledge for intelligent transportation and linked vehicles. Hongda Jiutong collects site visitors info and discrete facts of related autos, and by analysis and processing, features a multi-dimensional portfolio of data software items in transportation, logistics, car, insurance coverage, cellular Online, finance and other industries. By way of its in-depth information worth exploration, Hongda Jiutong delivers clients with big facts expert services and answers.

CAUTIONARY Statement With regards to Ahead-Looking STATEMENTS

This push launch has certain ahead-on the lookout statements. Forward-looking statements include things like, but are not minimal to, statements regarding our or our management’s anticipations, hopes, beliefs, intentions or techniques regarding the long term and other statements that are other than statements of historical actuality. In addition, any statements that refer to projections, forecasts or other characterizations of long run occasions or situations, which includes any underlying assumptions, are ahead-hunting statements. The phrases “foresee”, “feel”, “keep on”, “could”, “estimate”, “be expecting”, “intend”, “may”, “may possibly”, “plan”, “probable”, “opportunity”, “should really”, “would” and comparable expressions could identify forward-wanting statements, but the absence of these terms does not signify that a statement is not forward-looking.

The ahead-on the lookout statements in this push launch are based upon many assumptions, quite a few of which are based mostly, in convert, upon even further assumptions, including without having limitation, management’s assessment and analysis of the present regulation, rules and restrictions and other knowledge offered from third parties. Despite the fact that we think that these assumptions were affordable when made, because these assumptions are inherently topic to sizeable uncertainties and contingencies which are hard or not possible to predict and are beyond our handle, we cannot assure you the assertion herein will be exact. As a end result, you are cautioned not to rely on any ahead-on the lookout statements.

Make contact with:

The Business:
Mr. Jay Yu
Main Fiscal Officer
Tel: +86-10-6506-5217
E-mail: [email protected]

Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Team Inc.
Tel: 415-568-2255
E mail: [email protected]

Source Luokung Technology Corp.

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