Luokung Technology Corp - LKCO STOCK NEWS

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.