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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) announced its inclusion in a list of companies by the U.S. Department of Defense under Section 1237 of the National Defense Authorization Act on January 14, 2021. The Company asserts it is a non-state-owned enterprise, not affiliated with the Chinese military, and committed to lawful operations. Luokung is evaluating the impact of this listing and will comply with required disclosures to protect shareholder interests. They advise investors to stay informed about potential risks.
Luokung Technology Corp. (NASDAQ: LKCO) announced that its acquisition candidate, eMapgo Technologies (EMG), received the "2020 Golden Globe Award for HD Map" at the GGAI Conference in December 2020. EMG's advanced mapping capabilities cover over 9 million kilometers of road networks in China, Hong Kong, and Macao, including 80 million points of interest. The acquisition is progressing towards closure, with EMG recognized for its contributions to autonomous driving and smart highway technologies. EMG has established partnerships, including with Microsoft's Connected Vehicle Platform, enhancing its market position.
Luokung Technology Corp. (NASDAQ: LKCO) has signed a strategic agreement with Guangdong Yiting Information Technology Co., Ltd. to provide location-based commercial marketing services for over 90,000 gas stations in China. This collaboration will leverage Luokung's map platform to enhance gas stations' operations with personalized services such as navigation, real-time updates, and marketing of gas and non-gas products. Yiting, a leader in contactless payments, complements this initiative by integrating solutions for over 100 million drivers, enhancing customer experience in the energy retail sector.
Luokung Technology Corp. (NASDAQ: LKCO) has announced a cooperation agreement with Hainan Broadcasting International Media Center to launch HiGo, a new mobile application that provides local tourism and business services across Hainan province. The platform, built on Luokung Map’s open API services, enables users to access comprehensive interactive services related to culture, travel, and shopping, while allowing real-time publishing of business information. Hainan's tourism sector saw over 80 million visitors and generated more than 100 billion yuan in annual income in 2019, indicating strong potential for the HiGo platform.
Luokung Technology Corp. (NASDAQ: LKCO) has announced its acquisition of eMapgo Technologies (EMG) as part of a strategy to enhance its logistics services. EMG will develop an urban distribution service platform for Beijing Sinotrans, a subsidiary of China's largest logistics company. This platform aims to improve logistics management and operational efficiency using intelligent geographic location services. The partnership is expected to foster innovative applications in logistics and establish a smart logistics platform.
Luokung Technology Corp. (NASDAQ: LKCO) has secured a USD 1.3 million bid for the first phase of the Smart Campus project at Heilongjiang Institute of Technology, expected to be completed by year-end. The project will integrate various smart systems, utilizing Luokung's SuperEngine Spatiotemporal Data Engine. Subsequent phases are anticipated, with an estimated USD 8 million for the second phase. This establishes Luokung's role as the exclusive service provider, positioning the company favorably for future expansions within the IoT smart campus sector.
Luokung Technology Corp. (NASDAQ: LKCO) announced a share purchase agreement to acquire 100% of EMG following a report from IDC Consulting highlighting the competitive landscape of China’s HD map solutions. As of 2019, the HD map market in China is primarily led by Baidu (29.3%), NavInfo (21.7%), AMAP (17.9%), and EMG (14.7%). This acquisition positions Luokung to potentially strengthen its market share amid growing competition in the spatial-temporal big data sector.
Luokung Technology Corp. (NASDAQ: LKCO) has completed the acquisition of a 67.36% stake in BotBrain AI Limited, investing RMB 20 million and issuing 1,789,618 shares to BotBrain's previous institutional investors. BotBrain specializes in Natural Language Processing and knowledge management, serving clients like Tencent and Bank of China. This acquisition is expected to drive an estimated US$20 million in revenue for Luokung in 2021, enhancing its intelligent Geographic Information System and spatiotemporal data services.
Luokung Technology Corp. (NASDAQ: LKCO) announced a strategic cooperation agreement with the China National Geospatial Information Center (CNGIC) on July 9, 2020. The collaboration aims to enhance geospatial information services by leveraging spatial-temporal big data technology. Luokung is acquiring Saleya Holdings Limited, responsible for implementing the agreement. This partnership is expected to advance the Company's digital twin platform and promote applications in smart city projects, e-government, and smart agriculture.
Luokung Technology Corp. (NASDAQ: LKCO) has partnered with BYD Auto to deliver location-based information and marketing services, enhancing user experience for BYD car users. The collaboration leverages BYD's DiLink intelligent connected system, which integrates AI and big data to provide tailored mobile services. Luokung will develop and operate these services using its advanced mapping technology. This partnership aims to improve location-based interactions for users, offering personalized content for various travel scenarios.
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