IDC releases 2019 China market share report on HD Map, EMG is one of the top players

BEIJING,Nov.24,2020 --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 that on November 16,IDC Consulting released a report on the market share of China's HD Map solutions in 2019. According to the report,since 2019,China's HD Map market has entered into the year when major players have been seeking larger shares. From the perspective of market share,the HD Map solution market is mainly dominated by the top four domestic map markers,Baidu,NavInfo,AMAP and EMG and holding 29.3%,21.7%,17.9% and 14.7%,respectively. Luokung has engaged in a share purchase agreement to acquire 100% of EMG and announced that the two parties are currently in the process of closing the transaction.

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

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CONTACT:

The Company:

Mr.Jay Yu

Chief Financial Officer

Tel: +86-10-5327-4727

Email:ir@luokung.com

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