Luokung Affiliate eMapgo Wins a China Association for Geospatial Industry and Sciences 2022 Enterprise Growth Award
BEIJING, August 16, 2022 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (“LBS”) in China, today announced that its operating affiliate eMapgo Technology (Beijing) Co., Ltd. ("EMG"), a leading provider of navigation and electronic map services in China, has received the 2022 Enterprise with the Greatest Growth Potential in the Geospatial Industry Award from the China Association for Geospatial Industry and Sciences (“CAGIS”), recognizing EMG’s compound growth rate of 122.5% over the past three years in its geospatial business. The Company ranked second in compound growth rate among approximately 50 companies that were recognized with this honor.
CAGIS is a non-profit national industrial organization, authorized and supervised by the Ministry of Civil Affairs and the Ministry of Natural Resources, which currently has thousands of members including several well-known geospatial enterprises within China. CAGIS recently released a report titled “China Geographic Information Industry Development Report (2022)”, which states that the output value of China’s geographic information industry reached RMB752.4 billion in 2021, an increase of 9.2% year over year, with the scale expected to continue to increase.
Mr. Xuesong Song, Luokung’s Chairman and CEO, stated, “We are thrilled that EMG’s growth in recent years has been recognized by CAGIS. It is a validation of EMG’s significant achievement in autonomous driving, road-vehicle collaboration and digital twin market through constant research and development on HD maps. In the future, as we continue to enhance its core capabilities, we believe EMG will be able to optimize, deepen and expand its services to additional industries, solidifying its leading position in the market.”
ABOUT LUOKUNG TECHNOLOGY CORP.
Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company, as well as a leading provider of LBS for various industries in China. Backed by its proprietary technologies and expertise in multi-sourced intelligent spatial-temporal big data, Luokung has established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource asset management (carbon neutral and environmental protection remote sensing data service), and LBS smart industry applications (mobile Internet LBS, smart travel, smart logistics, new infrastructure, smart cities, emergency rescue, among others).
eMapgo, a variable interest entity (“VIE”) of Luokung, is a leading provider of navigation and electronic map services in China, as well as a leading provider in Internet map services, geographic information system engineering and other A-level mapping qualifications. EMG possesses the National Class-A qualification certificates of navigable Surveying and Mapping, and actively develops autonomous driving and HD Map services. In March 2021, Luokung closed on the acquisition of EMG through the purchase of the equity interests of Saleya Holdings Limited, which, through a series of contracts between its wholly-owned subsidiary DMG Infotech Co., Ltd. and EMG, made EMG Luokung's VIE. For more information, please visit EMG's website: www.emapgo.com.cn.
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