Technology Stocks

Luokung Technology Corp (NASDAQ: LKCO) Proclaims Supplementary eMapgo’s Agreement Victory for New Generation Traffic Control Net and Smart Thoroughfare Presentation Scheme

Luokung Technology Corp (NASDAQ: LKCO), a principal Spatial-Temporal intelligent big data services corporation today proclaimed that its exclusively possessed supplementary eMapgo Technologies (Beijing) Co., Ltd. (“EMG”), has arrived into an agreement to deliver a new group traffic control system and intelligent thoroughfare Presentation project for the Changjiu Superhighway.

Bestowing to the standings of the agreement, EMG will be accountable for the growth and employment of a 3D real-life highway digital organization scheme for the new generation intelligent thoroughfare presentation project for the Changjiu Thruway. A digital organization scheme will deliver real-time road information and intelligent operation management to support the latest smart conveyance while snowballing security and lessening cramming for enhanced road upkeep and organization.

Luokung’s innovative conveyance commerce comprises car-terminal facility and road-terminal provision, providing autopilot HD Map statistics facilities for car producers and increasing bright road numerical facilities.

Xuesong Song, Chairman, and CEO stated, “We are thrilled about EMG’s selection as the supplier for this ground-breaking smart highway project in Jiangxi. We consider it as a proof to our leading situation in Spatial-Temporal data dispensation knowledge and high-precision chart data service competences. This is a new generation traffic control net and smart highway presentation project, and Changjiu Thruway would be China’s first thoroughfare that is founded on this new brainy management scheme, which patronages road organization and a V2X working scheme. We are self-assured that EMG’s effort on this scheme will have an optimistic influence on the company’s upcoming business scenarios in smart conveyance.”

In other news released today, Luokung’s beforehand proclaimed cue for a preliminary order was settled by the United States District Court for the District of Columbia.

In its decision, the Court elucidated that it was preliminarily ordering “the bans against Luokung in full.” Therefore, as a consequence of the decision, the Department of Defense and other administration respondents are ordered from executing or applying the title of Luokung as a Community Chinese military business and the subsequent limits according to Executive Order 13959.

Upon receiving the Court’s verdict, Luokung wrote to Nasdaq senior board to notify it of the deed taken by the Court and entreated that Nasdaq reassesses the delisting purpose.

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