Luokung Announces Approval of eMapGo's HD Map Standards

BEIJING, June 23, 2021 — (PRNewswire) —  Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), a leading Spatial-Temporal intelligent big data services company and provider of interactive location-based services and High Definition maps ("HD Maps") in China, today announced that the Intelligent and Connected Vehicles—Highly Automated Driving Map—Acquisition Element Model and Exchange Format standard (standard number: T/CSAE 185-2021), sponsored by Luokung's wholly-owned subsidiary eMapgo Technologies (Beijing) Co., Ltd. ("EMG"), a leading provider of navigation and electronic map services in China, has passed the project approval and review process by the China Society of Automotive Engineering Standards (CSAE) and was approved for official release.

This is the first published industry standard for the Highly Automated Driving Map production industry in China. It provides a unified set of standards for the development of the Highly Automated Driving Map and defines and standardizes Highly Automated Driving Map acquisition elements. It also sets the foundation for future intelligent and connected vehicles Highly Automated Driving Map exchange formats and for mapping- and positioning-related standard systems for a cohesive and intelligent network.

The standard, whose development was led by EMG over the course of 16 months, was jointly completed by more than 20 companies, including map manufacturers, hardware and software manufacturers in the field of autonomous driving, and automobile manufacturers.

Mr. Xuesong Song, Chairman and CEO, stated, "We are thrilled to have played a part in establishing the first set of industry standards for autonomous-driving map production. It has been a long yet rewarding process to work with so many individuals and teams in the industry who are dedicated to improving the quality of the industry's products, and we look forward to maintaining our leadership position within the industry in the years to come."

About Luokung Technology Corp.

Luokung Technology Corp. is a leading Spatial-Temporal intelligent big data services company, as well as a leading provider of location-based services (LBS) and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and related intelligent Spatial-Temporal big data, Luokung established city-level and industry-level holographic Spatial-Temporal digital twin systems and actively serves industries including autonomous driving, vehicle-road collaboration (V2X), smart transportation, smart travel, local business LBS, new infrastructure, smart cities, and smart industries (emergency, natural resources, environmental protection, water conservancy, energy, smart training, among others).

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding our or our management's expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than statements of historical fact. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "probable", "potential", "should", "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination and analysis of the existing law, rules and regulations and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you the statement herein will be accurate. As a result, you are cautioned not to rely on any forward-looking statements.

CONTACT:

The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com

Investor Relations:
Adam Prior
Senior Vice President
The Equity Group Inc.
Tel: 212-836-9606
Email: aprior@equityny.com

Cision View original content: http://www.prnewswire.com/news-releases/luokung-announces-approval-of-emapgos-hd-map-standards-301317890.html

SOURCE Luokung Technology Corp.

Contact:
Company Name: Luokung Technology Corp.
Web: www.luokung.com
Financial data for Luokung Technology Corp.




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