Welcome to our dedicated page for Luokung Technology news (Ticker: LKCO), a resource for investors and traders seeking the latest updates and insights on Luokung Technology stock.
Luokung Technology Corp. (LKCO) is described in its public disclosures as a spatial-temporal intelligent big data services company and a provider of interactive location-based services (LBS) and high-definition maps (HD Maps) for various industries in China. The LKCO news feed on Stock Titan aggregates company announcements and market communications that shed light on its business focus, regulatory status, and corporate actions.
Investors and observers following LKCO-related news will find updates on Nasdaq listing compliance matters, including notices about minimum bid price requirements, periodic filing obligations, and stockholders’ equity thresholds. Luokung has reported receiving multiple letters from Nasdaq, extensions to regain compliance, and, later, a staff delisting determination, as well as its intention to appeal that determination.
Beyond listing status, Luokung’s news has included disclosures about share combinations affecting its ordinary shares, such as 30-to-1 and 8-to-1 share combinations, along with explanations of how these actions impact the number of issued and outstanding shares and the treatment of fractional shares. The company has also announced a strategic investment agreement with CHINA ORIENT SMART ECOTECH INVESTMENT GROUP LIMITED, detailing planned tranches of investment and related share issuance terms.
Because Luokung positions itself around spatial-temporal data, HD Maps, and LBS applications for smart transportation, natural resource asset management, and smart city-related use cases in China, its news often references these themes when describing its business and partnerships. Readers can use the LKCO news page as a centralized place to review historical company press releases and regulatory-related announcements connected to the former Nasdaq-listed symbol LKCO.
Luokung Technology Corp. (NASDAQ: LKCO) received a 180-day extension from Nasdaq to meet its minimum bid price requirement of $1.00 per share. This extension, granted on July 6, 2022, allows the company until January 2, 2023 to maintain the required share price for a minimum of 10 consecutive trading days to regain compliance. Failure to meet this requirement could result in delisting. The company had previously been notified of non-compliance on January 3, 2022, and was initially given until July 5, 2022 to rectify the issue.
Luokung Technology Corp. (NASDAQ: LKCO) announced that its operating affiliate, eMapGo Technology, has signed an agreement to continue providing autonomous driving data services for Zenseact, a subsidiary of Volvo Cars. This follows the successful completion of a Phase I project in September 2021. eMapGo is a leader in HD Maps and autonomous driving services in China, having established various standards for the industry. The CEO emphasized the potential for business expansion through this agreement.
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.
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