BEIJING - 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 will provide PaaS service to the China's first remote sensing big data cloud "SIWEI earth".
In this year's HUAWEI CONNECT took place in Shanghai on September 18, 2019, the China Centre for Resources Satellite Data and Application (also known as China SIWEI Surveying and Mapping Technology Co. Ltd, hereinafter referred to as the "CRESDA") has launched its remote sensing big data cloud product "SIWEI earth" to provide China's first safe and reliable intelligent spatial-temporal information service platform massive with multi-source data covering sea, land and air.
On August 14, 2019, the Company announced its strategic cooperation with CRESDA to provide remote sensing big data cloud service, and "SIWEI earth" Remote sensing data cloud product is one of the specific products of the cooperation. Luokung is responsible for providing PaaS services for intelligent data analysis, express data release, massive data management and other related data analysis.
"SIWEI earth" is China's largest and most advanced generation of intelligent spatial-temporal information service platform (the "Platform"), which has developed an innovative application mode of "Internet +" remote sensing with features of always online, low latency, full data, high-precision and self-controllable. In addition, it has subverted the traditional mode in which users originally needed to order, produce, and download data from remote sensing data centers to localized industrial applications. Customers can obtain real-time remote sensing data and value-added products online and carry out business applications, which significantly reduces the threshold for remote sensing data usage and provide on-demand and near-real-time cloud high-quality remote sensing data.
The Company is the PaaS service provider for the Platform and through its independent innovation of spatial-temporal big-data processing technology, which the Company breaks through the technical bottleneck of massive remote sensing data management and application, supports the real-time processing of 10PB-level remote sensing data, and enables the spatial-temporal information intelligent service platform to achieve ultra-high performance of processing 20T data within 2 hours per day. The high-concurrency, high-availability, high-stability platform built on Luokung's core technology can be expanded as needed, and it can serve 20,000 concurrent requests, and gradually reach 400,000 concurrent requests once online. The Platform will not only allow users to enjoy data in the cloud more quickly, but to accommodate more users on the cloud.
In today's highly digital society, more than 90% of government information and 95% of commercial information are closely related to geospatial information, and these large amounts of remote sensing data collected by satellites form of the need of a large database to be developed. "SIWEI earth" to directly support smart city platforms, business systems, mobile APPs and application software for various industries, and to accurately and efficiently meet the massive demand from large number of users, such as government, enterprises, and the general public, and bring tremendous value to many industries.
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. 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 and API embedded services to LBS mobile internet developers based on its full-vector and non-slicing mobile internet map. The Company provides completed DaaS, SaaS and PaaS 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, Internet Application 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.