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Luokung Technology Corp (NASDAQ: LKCO) is a leading provider of mobile services and technology, specifically catering to the long-distance travel and railway Wi-Fi market in China. The company's primary product, the Luokuang platform, is a Location-based Service (LBS) social content and service distribution platform. It is designed to offer personalized and precise services to long-distance travelers, enhancing their travel experience both on the train and at their destination.
Luokung's offerings include a wide range of entertainment services such as video and audio streaming, digital reading material, games, and social services. These services aim to keep travelers engaged and entertained throughout their journey.
Recently, Luokung has focused on spatial-temporal intelligent big data services and the provision of high-definition maps (HD Maps) in China. This enables the company to support interactive LBS, providing users with real-time location data and mapping services.
However, on May 2, 2024, Luokung received a notice from NASDAQ indicating non-compliance with the requirements for continued listing due to the delayed filing of its annual report on Form 20-F for the year ended December 31, 2023. Despite this setback, Luokung remains committed to resolving this issue and continuing its provision of innovative services.
With its cutting-edge solutions and focus on enhancing the traveler experience, Luokung Technology Corp aims to play a significant role in China's travel and technology sectors.
Luokung Technology Corp. (NASDAQ: LKCO), a leader in spatial-temporal big data services and provider of location-based services and HD maps in China, announced the availability of a business demonstration deck on its corporate website. This deck showcases their advanced technologies and applications in smart transportation, natural resource management, and smart industry applications. The company also emphasizes its commitment to transparency by regularly updating its website with important information.
Luokung Technology Corp. (NASDAQ: LKCO) announced a strategic cooperation between its affiliate HDtraffic and Siemens Mobility's subsidiary Yutraffic. This partnership aims to develop innovative solutions in transportation digitalization, Internet of Vehicles (IoV), and autonomous driving. Both parties will leverage their respective technologies, combining HDtraffic's expertise in traffic digital twin systems with Yutraffic's advanced intelligent transportation solutions. This collaboration is expected to enhance urban and intercity transportation efficiency.
Luokung Technology Corp. (NASDAQ: LKCO) has finalized the acquisition of Beijing Hongdajiutong Technology Development Co., Ltd. (HDtraffic), a notable player in big data services for intelligent transportation in China. The joint development effort with a leading commercial vehicle manufacturer, which sold around 700,000 vehicles in 2021, will establish a data middle station. This platform aims to enhance services such as vehicle load evaluation and failure prediction, contributing to the growth of IoV big data products and V2X services.
Luokung Technology Corp. (NASDAQ: LKCO) has announced a software service contract through its affiliate, eMapgo Technology, to provide digital twin services and V2X solutions for the smart highway monitoring center of the Puxin Expressway Heze Section, spanning over 400 kilometers in China. Their proprietary highway digital twin platform integrates multiple data sources for real-time monitoring and management of highway operations. This launch is part of Luokung's strategy to capitalize on the expanding market for highway intelligence services, following earlier national project implementations.
Luokung Technology Corp. (NASDAQ: LKCO) reported record revenue exceeding $145 million in 2021, marking a sevenfold increase from 2020. The company emphasizes growth in three core pillars: smart transportation, carbon-neutral data services, and LBS. Despite losses attributed to R&D investments, Luokung anticipates continued revenue growth from its LBS business and emerging sectors in 2022. The recent acquisition of Hongda Jiutong aims to enhance the V2X business, with expectations for notable service revenue contributions this year. Luokung remains committed to innovation and expanding its market presence.
Luokung Technology Corp. (NASDAQ: LKCO) has filed its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the U.S. SEC. The report is available for public access on the SEC's website. Shareholders can request a free hard copy of the report by contacting the company's investor relations. Luokung specializes in spatial-temporal big data services, location-based services, and high-definition maps, serving sectors including smart transportation and environmental protection in China.
Luokung Technology Corp. reported a record revenue of $145.1 million for 2021, up from $18.3 million in 2020, primarily driven by its LBS advertising business. However, the company also experienced a net loss of $61.5 million, an increase from $40.1 million in the previous year, due to high R&D expenses. Gross profit margin improved to 11.1% from 4.3%. The company is optimistic about future growth, bolstered by the acquisition of EMG and partnerships with major players like Ford. A conference call is scheduled for May 12, 2022, to discuss these results.
Luokung Technology Corp. (NASDAQ: LKCO) announced that its affiliate, BotAiot Intelligent Co., Ltd., signed a service contract with the Highway Research Institute. BotAiot will provide a blockchain-based electronic data storage platform to enhance highway transport infrastructure efficiency. The contract involves building a consortium chain for managing data from over six million devices, improving calibration testing and traffic flow. This collaboration marks Luokung's expansion into highway transportation, leveraging AI and blockchain technologies for enhanced data management and safety.
Luokung Technology Corp. (NASDAQ: LKCO) will announce its financial results for the year ending December 31, 2021, after the market closes on May 11, 2022. A conference call is scheduled for May 12, 2022, at 8:00 a.m. ET, where the company will discuss its financial performance. Investors can join the call via toll-free numbers or participate in a live webcast. Luokung specializes in big data services and high-definition maps in China, supporting various industries, including smart transportation and environmental management.
Luokung Technology Corp. (NASDAQ: LKCO) has launched its new remote sensing holographic spatial-temporal offerings aimed at natural resource monitoring and carbon sink accounting. This initiative was announced at the Second Spatial Information Smart Application Summit in China. The offerings utilize technologies like satellite remote sensing and lidar, promising enhanced ecological monitoring at reduced costs. Currently applied in pilot projects across several regions, Luokung anticipates significant revenue growth within the carbon neutrality sector and plans to expand its services further in 2022.
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