LKCO Announces In-depth Cooperation with Changjiang Yuntong, a Digital Smart City Investment Construction and Operation Management Platform in Wuhan, China

BEIJING,July 6,2020 --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 it has established in-depth cooperative partnership with Changjiang Yuntong Group Co.,Ltd. ("Changjiang Yuntong"),carrying out comprehensive and in-depth cooperation based on the strength of the respective superior resources,including but not limited to multi-level cooperation in technologies,products,and marketing in the fields of digital city construction,smart city data operations,transportation and other public industry smart service solutions,etc.The Company expects to obtain a series of smart city projects in Wuhan City and Hubei Province through the cooperative partnership with Changjiang Yuntong.

About Changjiang Yuntong Group Co.,Ltd.

Changjiang Yuntong is the exclusive digital smart city investment construction and operation management platform directly managed by the State-owned Assets Supervision and Administration Commission of the Wuhan Municipal People's Government. At present,it owns 8 companies including Wuhan Big Data Industry Development Co.,Ltd. and Wuhan Bus Zhitong Technology Co.,Ltd. Involved in the fields of government affairs,transportation,medical treatment,education,etc.,its business is widely deployed in areas such as big data,cloud computing,and network security. Recently,it co-funded with Alibaba Venture Capital Management Co.,Ltd. and established Changjiang Yuntong Smart City Technology Co.,Ltd.

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. It provides integrated DaaS,SaaS,and PaaS services for Internet and Internet of Things of Spatial-Temporal big data based on its patented technology. Based on geographic information systems and intelligent Spatial-Temporal big data,it establishes city-level and industry-level digital twin holographic data models to actively serve smart cities,intelligent transportation,smart industry,LBS.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

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