BEIJING, July 25, 2022 /PRNewswire/ — Luokung Know-how Corp. (NASDAQ: LKCO) (“Luokung” or the “Firm”), a number one spatial-temporal clever large information providers firm and supplier of interactive location-based providers (“LBS”) and high-definition maps(“HD Maps”)in China, at the moment introduced that it has signed an settlement with the federal government of Jiujiang District, Wuhu Metropolis in Anhui Province for an clever networking primarily based automobile/ship autonomous driving venture. Hongdajiutong Know-how Growth Co.,Ltd.(HDtraffic”), an affiliate of Luokung, is offering complete implementation and industrial promotion for the venture, which marks a major preliminary step within the Firm’s energetic enlargement into the brand new market of clever delivery and land transportation that’s anticipated to generate ongoing earnings for the Firm.

This main venture has acquired multimillion of RMB funds from the federal government. Based on the phrases of the settlement, Luokung is conducting the analysis and improvement of the autonomous driving and driving help techniques, together with {hardware} and software program, for clever networking expertise of each highway automobiles and ships, supporting the appliance of autonomous delivery techniques and try to understand the primary home open-highway autonomous truck operation venture in China. An built-in ship-vehicle-cloud Digital Twin mannequin will probably be constructed on this venture, primarily based on Wuhu’s distinctive geographical benefits as a nationwide built-in transportation hub with ports on the Yangtze River, to open up a brand new clever networked enterprise situation.

Mr. Xuesong Tune, Chairman and CEO, acknowledged, “We’re excited to be working with the Jiujiang District authorities on this monumental autonomous driving venture. We consider this venture is simply the begining of the clever networking expertise functions in autonomous driving and delivery eventualities. Luokung has signed a long-term cooperation with the native authorities and actively engages within the industrial implementation primarily based on native enterprise associated eventualities. The outcomes achieved from this venture will probably be leveraged to type a mature commercialized enterprise mannequin that has the potential for enlargement into the nationwide market sooner or later.”

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About Luokung Know-how Corp.

Luokung Know-how Corp. is a number one spatial-temporal clever large information providers firm, in addition to a number one supplier of LBS and HD Maps for numerous industries in China. Backed by its proprietary applied sciences and experience in HD Maps and multi-sourced clever spatial-temporal large information, Luokung has established city-level and industry-level holographic spatial-temporal digital twin techniques and actively serves industries together with good transportation(autonomous driving, good freeway and vehicle-road collaboration), pure useful resource asset administration (carbon impartial and environmental safety distant sensing information service), and LBS good {industry} functions (cellular Web LBS, good journey, good logistics, new infrastructure, good cities, emergency rescue, amongst others). The Firm routinely gives essential updates on its web site: https://www.luokung.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press launch incorporates sure forward-looking statements. Ahead-looking statements embrace, however should not restricted to, statements concerning our or our administration’s expectations, hopes, beliefs, intentions or methods concerning the long run and different statements which might be apart from statements of historic reality. As well as, any statements that check with projections, forecasts or different characterizations of future occasions or circumstances, together with any underlying assumptions, are forward-looking statements. The phrases “anticipate”, “consider”, “proceed”, “might”, “estimate”, “count on”, “intend”, “might”, “may”, “plan”, “possible”, “potential”, “ought to”, “would” and related expressions might determine forward-looking statements, however the absence of those phrases doesn’t imply {that a} assertion will not be forward-looking.

The forward-looking statements on this press launch are primarily based upon numerous assumptions, a lot of that are primarily based, in flip, upon additional assumptions, together with with out limitation, administration’s examination and evaluation of the prevailing regulation, guidelines and laws and different information obtainable from third events. Though we consider that these assumptions had been cheap when made, as a result of these assumptions are inherently topic to important uncertainties and contingencies that are tough or not possible to foretell and are past our management, we can not guarantee you the assertion herein will probably be correct. In consequence, you might be cautioned to not depend on any forward-looking statements.

CONTACT:

The Firm:
Mr. Jay Yu
Chief Monetary Officer
Tel: +86-10-6506-5217
E-mail: ir@luokung.com

Investor Relations:
Ms. Carolyne Sohn
Vice President
The Fairness Group Inc.
Tel: 415-568-2255
E-mail:csohn@equityny.com

Ms. Alice Zhang
Investor Relations Analyst
The Fairness Group Inc.
Tel: 212-836-9610
E-mail: azhang@equityny.com

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SOURCE Luokung Know-how Corp.