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Overview of Luokung Technology Corp
Luokung Technology Corp (LKCO) is a pioneering spatial-temporal intelligent big data services company, offering innovative location-based services (LBS) and high-definition mapping solutions. Leveraging cutting-edge digital twin systems, the company creates detailed holographic representations at both city and industry levels. These advanced mapping systems form the backbone of numerous applications in smart transportation, intelligent urban infrastructure, and environmental management.
Core Business and Technological Foundation
The company specializes in integrating spatial-temporal big data with state-of-the-art digital twin technology, enabling the creation of interactive platforms that mirror real-world scenarios. At its core, Luokung’s services extend to the development of LBS solutions that support critical operations in smart travel, smart logistics, and emergency response. This technologically sophisticated approach ensures that its systems deliver granular, real-time data analytics, aiding industries in optimizing operations and enhancing safety protocols.
Applications and Industry Impact
Luokung Technology Corp serves a diverse range of sectors, each benefiting from its robust spatial data solutions:
- Smart Transportation: Through autonomous driving support, smart highway systems, and vehicle-road collaboration, the company offers solutions that contribute to the evolving landscape of traffic management and roadway safety.
- Urban and Smart City Development: The digital twin technology employed by Luokung is pivotal for urban planning, enabling city officials and planners to simulate and manage infrastructure projects with enhanced precision and reduced risk.
- Natural Resource and Environmental Management: The company's remote sensing data capabilities are applied to natural resource asset management and environmental protection, including applications for carbon neutral initiatives and environmental monitoring.
- Location-Based Smart Industry Applications: Solutions extend to sectors such as mobile internet LBS, smart travel and logistics, and even emergency rescue operations, showcasing the versatility and integration of spatial data in modern industries.
Industry Position and Competitive Landscape
Operating within the dynamic fields of big data and digital mapping, Luokung has established a significant presence in the Chinese market. Its comprehensive approach—merging cutting-edge technology with practical applications—distinguishes it within sectors that demand high levels of precision and reliability. While competitors in the domain of digital mapping and spatial analytics may offer overlapping services, Luokung’s focus on the integration of holographic digital twin systems at multiple scales sets it apart, providing both granular and broad-reaching insights into spatial data.
Operational Excellence and Technical Expertise
Luokung Technology Corp is built on a foundation of extensive technical expertise and industry experience. Its systems are developed with a keen understanding of the complexities involved in spatial-temporal data processing, ensuring that each application is both robust and adaptable to varied industry demands. This focus on technical excellence is evident in its ability to serve critical infrastructures such as transportation networks and urban management systems, where precision and timeliness are of paramount importance.
Commitment to Data Integrity and Reliable Services
Integral to the company’s operations is a commitment to data accuracy and reliability. By continuously updating its methodologies and integrating real-time analytics, Luokung provides a trustworthy platform for businesses and governmental organizations alike. The firm’s efforts in ensuring consistent data quality underline its role as an essential service provider in environments where accurate spatial data can drive better decision-making and operational efficiencies.
Conclusion
In summary, Luokung Technology Corp stands out for its innovative application of spatial-temporal intelligence and digital twin systems across various industries. Its blend of LBS and high-definition mapping services supports major use cases in smart transportation, urban planning, and environmental management. The company's expertise in processing big data to create detailed, interactive models of real-world scenarios underscores its importance in the modern technological landscape, making its operations an interesting study for investors and industry observers looking to understand the future of spatial analytics and smart infrastructure.
Luokung Technology Corp. (NASDAQ: LKCO) announced a registered direct offering of $5.0 million of ordinary shares at $0.52 per share. The company will issue 9,615,387 shares and 4,807,694 warrants at an exercise price of $0.68. The funding aims to support working capital and corporate purposes. The offering is expected to close on or about February 9, 2021, pending customary closing conditions. FT Global Capital, Inc. served as the exclusive placement agent for this transaction.
Luokung Technology Corp. (NASDAQ: LKCO) announced a partnership between eMapgo Technologies (EMG) and BAIC BJEV to develop autonomous driving projects for electric vehicles. This collaboration aims to enhance the HD map services for autonomous valet parking and advance L3 to L4 automation. EMG, a provider of HD map services, leverages its technology to participate in self-driving vehicle standards in China. The partnership positions Luokung favorably in the growing autonomous driving sector, as they finalize the acquisition of EMG.
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.
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