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Luokung Technology Corp. announces strategic cooperation with CRESDA

Jointly to Build a Remote Sensing Big Data Cloud Service Industry Ecology
2019-08-14 20:00 5700

BEIJING, Aug. 14, 2019 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ:LKCO) ("Luokung" or the "Company"), one of the global leading spatial-temporal big-data processing technology companies, a leading interactive location-based services company in China, today announced its strategic cooperation to provide cloud services based on image data from remote sensing satellites to manage data unification for the China Centre for Resources Satellite Data and Application (hereinafter referred to as the "CRESDA")  , thus to further achieve more reliable, safer and efficient data cloud service.

Based on Luokung and CRESDA's advantages and resources, both parties expect to actively investigate and steadily advance in deep cooperation. Both parties will jointly establish an industry leading remote sensing spatial temporal big data cloud service platform to provide advanced products, applications and technology services for customers in the fields of land resources management, environmental protection, water conservancy, surveying and mapping, marine, agriculture and forestry, emergency management and others.

Both parties will actively participate in deep cooperating on major state projects that CRESDA is responsible for the China High-resolution Earth Observation System. Based on the existing technology Luokung has provided, which includes the remote sensing image cloud services and publishing platform and APP of Earth Imagery, Luokung will continue to develop its corresponding leading technical services to fully meet the demand of these major state projects.

About CRESDA

The China Centre for Resources Satellite Data and Application (hereinafter referred to as the "CRESDA") was founded on October 5th, 1991. It is a scientific research and operational management institution under the supervision of the National Development and Reform Commission (NDRC) and the China National Space Agency (CNSA). It is administrated by the China Aerospace Science and Technology Corporation (CASC). CRESDA is one of the top three national remote sensing satellite data centers. It has a complete set of earth observation data products, technical services and systems, and it has accumulated abundant scientific research achievements. At present, CRESDA has operated and managed more than 20 satellites, including resource management series, environmental disaster reduction series and high-resolution series. It has served more than 27 million satellite image scenes to users nationwide, which are widely used in agriculture, forestry, water conservancy, land resources management, urban planning, environmental protection, disaster monitoring and national defense construction and other fields, resulting in enormous social and economic benefits.

About Luokung Technology Corp.

Luokung Technology Corp. is one of the global leading spatial-temporal big-data processing technology companies 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 and API embedded services to LBS mobile internet developers based on its full-vector and non-slicing mobile internet map. The Company provides completed DaaS, SaaS and PaaS 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, Internet Application Map, Satellite Remote Sensing Data and Real-time trajectory. For more information please go to 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.

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

Cision View original content:http://www.prnewswire.com/news-releases/luokung-technology-corp-announces-strategic-cooperation-with-cresda-300901575.html

Source: Luokung Technology Corp.
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