BEIJING, March 5, 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 wholly owned
subsidiary Shenzhen Jiu Zhou Shi Dai Digital and Technology Limited
("Jiu Zhou Shi Dai") recently
engaged a cooperation agreement with China Railway Gecent
Technology Co., Ltd. ("Gecent") to provide movie content SDK, movie
copyrights and operating services for "High-Speed Train in Hands"
APP (the "APP"). As the exclusive Wi-Fi operator for high-speed
trains in China, Gecent is able to
provide travelling services for more than 2 billion passenger trips
annually. The on-train entertainment service is one of the most
important services for travelling passengers.
The Company will cooperate with Gecent to exclusively operate
the movie content on the APP. There will be an exclusive channel
for the Company to provide up to 1,000 domestic and foreign movies
for passengers. The APP users are
able to continue enjoying their movies when they arrive at the
destination from the APP or the Company's independent proprietary
movie APP. The source of revenue is derived from pre-roll adverts
and pay-view movies. The revenue generated on train will be shared
between two parties.
The Company is also the strategic partner of Gecent for LBS
along railway and LBS of indoor station.
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) holds 51%, 39%, 10% of shareholding in Gecent, respectively.
Gecent is in charge of the construction and operation of Wi-Fi
platform on every High-speed train in China. It provides travelling services of
integration of station and vehicle and online-offline collaboration
for passengers through its mobile APPlication software named
"High-speed Train on Hands". It is the major service provider for
Chinese railway travelling. The WiFi business will be deployed on
all the high-speed trains in China
and will cover about 3 billion passenger trips till the year of
2020.
About Luokung Technology Corp.
Luokung Technology Corp. is one of 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 to
provide 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
interaction 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. More
information may be found at: http://www.luokung.com
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.
For investor and media inquiries, please contact:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com
INVESTOR RELATIONS
PureRock Communications Limited
Email: luokung@pure-rock.com
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SOURCE Luokung Technology Corp.