Luokung Technology Corp. Announces Investment of Honbridge Holdings Limited

BEIJING,Jan. 17,2019 -- Luokung Technology Corp. (Nasdaq: LKCO)(" Luokung" or the "Company"),one of global leading graphics data processing technology companies,a leading interactive location-based services company in China,today announced that it has entered into a Securities Purchase Agreement (the "Agreement") with Honbridge Holdings Limited,a Cayman Islands corporation (the "Purchaser") on January 16,2019.

Pursuant to the terms of the Agreement,the Company agrees to sell,and the Purchaser agrees to purchase,2,000,000 shares of Ordinary Shares of the Company (the "Shares") at a price of $6 per share for a total amount of $12,000 (the "Subscription Amount"). Upon receiving 50% of the Purchaser's Subscription Amount,(the "Initial Subscription Amount"),the Company shall deliver the 1,000 shares of Ordinary Shares of the Company (the "Initial Shares") to the Purchaser (the "Initial Closing Date"). The Company shall file a Registration Statement on Form F-3 with the SEC seeking registration of the Shares for resale (the "Registration Statement") as soon as practicable,which shall be within two weeks after either (i) the Initial Closing Date or (ii) the date of the Company's filing its annual report for the year ended December 31,2018; provided that,however,the Company shall ensure that,in any event,the date of filing the Registration Statement (i) shall not be later than the date of filing the Registration Statement for other shareholders of the Company; and (ii) shall not be later than April 30,2019.

Within five (5) business days of the satisfaction or waiver of certain closing conditions including but not limited to the effectiveness of Registration Statement,the Company shall have the right to require the Purchaser to purchase the remaining 1,000 shares of Ordinary Shares of the Company (the "Subsequent Shares") by delivering to the Purchaser an irrevocable written notice that the Company has exercised its right to require the Purchaser to purchase the Subsequent Shares (the "Subsequent Closing Notice"). The Purchaser shall pay the remaining Subscription Amount (namely,US$6,000) (the "Subsequent Subscription Amount") by wire transfer to the bank account designated by the Company within five (5) Business Days of the date receiving the Subsequent Closing Notice and the Company shall deliver the 1,000 shares of the Ordinary Shares of the Company to the Purchaser within three (3) Business Days of the payment of the Subsequent Subscription Amount (the "Subsequent Closing"). If the SEC only approves the effectiveness of the Registration Statement covering the resale of the Initial Shares,the Purchaser shall notify the Company in writing or sending a notice to the Company whether it shall purchase the Subsequent Shares within seven (7) calendar days of the date on which the restrictive legend on the certificates representing the Initial Shares is removed. The purchase price shall be fixed at US$6.00 per Share. The Company shall deliver the Subsequent Shares to the Purchaser within three (3) Business Days of the payment of the Subsequent Subscription Amount and shall file a Registration Statement covering the resale of the Subsequent Shares within four weeks after the date of payment of the Subsequent Subscription Amount by the Purchaser. If the Subsequent Closing conditions have not occurred by the date that is nine (9)months after theInitial Closing Date,the Purchaser's obligation to purchase the Subsequent Shares shall be terminated. The Company and the Purchaser shall sign a separate agreement if the Purchaser wants to purchase any Ordinary Share after a period of the 9 months from the Initial Closing Date. If the Company fails to file the Registration Statement covering the resale of the Shares on or before April 30,2019 or fails to file the Registration Statement covering the resale of the Subsequent Shares before the deadline provided in Agreement,it shall indemnify the Purchaser US$30,000 per calendar day,subject to a maximum of US$3 million in aggregate.

The Shares to be issued by the Company pursuant to the Agreement shall be sold and issued pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933,as amended.

This press release shall not constitute an offer to sell,or the solicitation of an offer to buy,nor shall there be any sale of these securities in any state or jurisdiction in which such an offer,solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Luokung Technology Corp.

Luokung Technology Corp. is one of global leading graphics 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 embedded services to third-party mobile application providers based on its full-vector and non-slicing mobile internet map. The Company provides SaaS 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,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.

For investor and media inquiries,please contact:

At the Company:

Mr. Jay Yu

Chief Financial Officer

Tel: +86-10-5327-4727

Email: yujie@luokung.com

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