Luokung Technology Corp (NASDAQ:LKCO)

BEIJING, March 17, 2020 /PRNewswire/ -- 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 entered into a strategic partnership with Jiangsu Dianyu Information Technology Co., Ltd. ("Dianyu"), to leverage each other's respective advantages, and to actively expand mobile commercial big data services in the 5G era. The two parties have signed and started implementation of a series of cooperation agreements on certain projects and services.

Dianyu will rely on the SuperScylla data processing service platform of Luokung to integrate vector maps, satellite remote sensing images, IoT streaming data and other multi-format data services in order to actively expand the applications and services using dynamic trajectories in IoT and LBS. In the meantime, the marketing capabilities of Dianyu and the excellent solution service capabilities of its SaaS platform and programs like "Dianke", will bring more projects and users to Luokung. In 2020, Luokung expects to generate approximately USD 10 million revenue related to the PaaS, SaaS, and DaaS services provided by Luokung's SuperScylla data service platform to Dianyu and its customers.

As a strategic partner, Dianyu will be granted a seat in the Strategic Committee of Luokung, and will provide strategic decision support for Luokung.

BEIJING, March 5, 2020 /PRNewswire/ -- 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 eMapgo Technologies (Beijing) Co., Ltd. ("EMG") has entered into strategic partnership with Continental Holding (China) Co., Ltd. ("Continental" or Continental China), the subsidiary of one of the world's leading automotive technology company Continental AG (FWB: CON). Leveraging each other's respective advantages, promote in-depth cooperation in the areas of China's smart city, smart mobility, and connected vehicle services etc. Luokung is in the process of the closing of the100% acquisition of EMG.

EMG will provide Continental with legally compliant map data (including ADAS map and HD map) in China, a variety of general and customized functional services, including a fleet visualized management solution for its connected vehicle platform. All of these will optimize vehicle driving safety and operation efficiency, provide information for effective decision-making for fleet management, optimize transportation costs, and improve the efficiency of smart logistic operations. The cooperated solutions developed by both parties will also serve for various applications in the fields involving connected vehicle platforms and smart mobility.

Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. EMG is a top three map maker in China, has been working closely with Continental for a long time to provide intelligent location services, including map data and map service platforms. Based on the strength of Continental's advanced products, technology advantages, engineering research and development experience in connected vehicle service, and EMG's accumulated 16 years of experience in the map industry, the two parties have determined to cooperate in various forms in smart logistics (commercial vehicle), smart city scene application, and connected vehicle platform in the future.

BEIJING, Feb. 11, 2020 /PRNewswire/ -- 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, announced today that Ford Motor Corporation (NYSE: F) has selected Luokung's subsidiary eMapgo Technologies (Beijing) Co., Ltd. ("EMG") as the only provider for Ford China so far to utilize its proprietary autonomous driving HD map service capabilities to be used in Ford vehicles sold in the Chinese market. EMG will receive a fee for each car sold using its technology and service.

EMG will support Ford's Connected Blue Zone (hereinafter referred to as CBZ) autonomous driving project. The CBZ is the first autonomous driving commercial project of Ford in China. It is SAE-Level 2.5+, allowing autonomous driving on the highway. The project is expected to be launched in 2021. EMG will not only provide HD seed map for CBZ, but also provide online incremental data updates through OTA technology, providing real-time mapping technology and strong support for the Adaptive Cruise Control (ACC) system, CBZ Blue Line retention system, driver attention retention system, etc. EMG helps to make it possible for drivers to free their hands when driving on the highway.

"We are pleased that a global leading automaker in autonomous driving has selected our technology and service as a key component of the autonomous driving experience," said by Mr. Hongbin Lu, the CEO of EMG. "The market in China is enormous and we are excited to work with Ford as it positions itself to capitalize as an early entrant in this rapidly growing market."

BEIJING, Nov. 26, 2019 /PRNewswire/ -- 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 has announced eMapgo Technologies (Beijing) Co., Ltd. ("EMG") successfully bid for the Beidou high-precision digital map integration construction and application project, which was initiated by the Chinese Aero Natural Resources Survey and Remote Sensing Center.

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.

As the only contractor of the project, EMG dedicates its professional technologies and leading advantages in digital map navigation to assisting the Chinese Aero Natural Resources Survey and Remote Sensing Center to build the high-precision digital map database in sub-meter level, lane-level navigation application platform and to develop thousands of lane-level navigation application terminals. This project will provide high-precision digital map demonstration services in internet of vehicles, internet travel, logistics and transportation, automatic driving, and urban transportation.

The project is a national-level demonstration project for Beidou in high-precision positioning and intelligent travel application. It has great meaning for future intelligent transportation, high-precision positioning and navigation, automatic driving technical specifications and application promotion.

BEIJING, Nov. 13, 2019 /PRNewswire/ -- 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 Geely Technology Group Co. Ltd (hereinafter referred to as "Geely Technology") and Acuitas Capital, LLC (hereinafter referred to as "Acuitas") have made strategic investments in Luokung Technoloy Corp. through the purchase of preferred shares and common stock. The investment of USD $42.5 million from Geely prompt the Company to complete the acquisition of 51% of eMapgo Technologies (Beijing) Co., Ltd. (hereinafter referred to as the "EMG") (the "Acqusition"). As a result, the Company will immediately begin to consolidate the financial results of EMG, which will be reflected in the Company fourth quarter and year-end financial results. The Company anticipates receiving funding of up to $100 million from Acuitas to acquire the remaining equity of EMG. Thus, the Company expects to acquire the balance of EMG by the end of the year 2019.

EMG is one of the major map service providers in China accounting for about 24% of China in-dash navigation market share. EMG possesses the National Class-A qualification certificates of navigable Surveying and Mapping, and it is actively developing the autonomous driving and HD Map services. The completion of the Acquisition will enable the Company to have a map business with complete qualifications in China and enriched map of business data. Through the integration of with the Company's Superengine spatial-temporal big data engine and Superengine index cloud and other products and technical services, it will greatly improve the computing capability and operating efficiency of mapping data. Meanwhile, combined with the Company's remote sensing image data service, it can provide more comprehensive and precise services in smart city, IoT and Intelligent big data computing. Furthermore, the Acquisition enables the Company to expand its business into HD Map in connection to autonomous driving and intelligent transportation and other service areas, while enabling the Company to provide complete map data service in the location-based services business. The Company and EMG have begun to integrate on development and advancing new products, and the Company expects to announce major business progress in the near future.

The Acqusition of EMG provides the Company with the opportunity to develop its business model from technology service provider to an integrated AI spatial-temporal data service provider. With the advance technology and data source, there will be more comprehensive and diversified model in services and revenue for the Company.

Since the Company made announcement on August 28, 2019, the Company has begun to pay EMGs' shareholders in installments based on the acquisition agreement and the supplementary agreement. At the current stage, through cash payment and the payment of common stock and preferred stock, the Company shall obtain more than 51% of EMG's shares, and the Company expects to complete the 100% of the Acquisition of EMG before December 31, 2019.  

The integration of both the Company and EMG result rapidly advancing in product development. Mr. Wang Zhigang, Chairman of EMG, stated "EMG is one of the earliest navigation electronic map companies in China. Under the circumstances that internet giants such as Baidu, Alibaba, Tencent are heavily involved in the competition of the industry, EMG can still walk independently as a neutral navigation electronic map service provider. To be one of the leading map service providers in China today, it proves that EMG must has its unique value and competitiveness."

"Luokung is a spatial-temporal big data company, has a large and efficient data processing and analysis techniques, and has a mass of end users, resources and ecological chain financing platform. I believe that the combination of the two will give EMG a strong momentum for further development, bringing EMG to a new level and breadth, on the one hand, improving the map service capabilities in the field of to Auto and to B, and on the other hand expanding the map service in the field of to C."

Mr. Xuesong Song, chairman and CEO Luokung, stated, "The acquisition of EMG marks a significant milestone for Luokung's development. As EMG will become one of the important cornerstones of the Company's intelligent spatial-temporal data service, greatly enhancing the breadth and extension of the company's spatial-temporal data business services. Our existing global leading spatial-temporal data processing technology and EMG data and technology integration will greatly improve and enrich the function and comprehensiveness of Luokung's product services and bring a huge increase in income scale. EMG will keep its independent brand and company operation and keep stand on its neutral status. EMG will also get full support in terms of technology, finance and marketing from Luokung.

Mr. Song continues to state: "Thanks to Geely Technology and Acuitas for their investments in the Company. Previously, Geely Technology Holdings and the equity participated in the intelligent transportation services in all aspects of railways and air, including "Caocao shuttle bus", "Star Ride Travel" that cooperation with Mercedes-Benz, "Volocopter unmanned electric air flight taxi", "Terrafugia flying car" and China Railway Gecent Technology Co., Ltd., which cooperated with the China State Railway Group Co., Ltd. and Tencent. The strategic investment of Geely Technology Holdings to Luokung will greatly enhance its active expansion of the space as well as its data services in the intelligent travel field. As the Company's strategic and long-term value investors, Geely Technology and Acuitas will assist the Company by introducing other long-term value investors and international strategic partners. "

BEIJING, Nov. 5, 2019 /PRNewswire/ -- Luokung Technology Corp. (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 entered into a strategic cooperation agreement with Tencent Cloud Computing (Beijing) Limited (hereinafter referred to as "Tencent Cloud") and Beijing KDFlink Technology Group Limited (hereinafter referred to as "KDFlink"), jointly cooperating to build a world leading application platform called "Spatial-Temporal Ultra Brain" in terms of industrial internet based on the Tencent Industrial Cloud.

"Spatial-Temporal Ultra Brain" platform will integrate the IaaS of Tencent Industrial Cloud, along with PaaS of Luokung Technology spatial-temporal big-data platform and SaaS of KDFlink industrial IOT. Tencent Industrial Cloud provides not only the infrastructure of computing power, storage, communication IaaS service, etc., but also continuous technical support services including but not limited to big data, network security with its own advantages. Luokung Technology provides the spatial-temporal big-data processing technology in the management, fusion and logical computing, as well as the completed spatial-temporal PaaS and SaaS services in fields including but not limited to Maps, Satellite Remote Sensing, IOT, and LBS. KDFlink provides applications, solutions and services of SaaS for the business of SCADA, APS, Intelligent manufacturing, WMS, LIMS, OEE , Intelligent industrial analysis, etc. Luokung Technology and KDFlink will become the ecology partners of Tencent's local industrial cloud, putting the SaaS products on the application store of Tencent's local industrial cloud, and fully assist Tencent in promoting the services of Tencent local industrial cloud to the local industrial enterprises.

"Spatial-Temporal Ultra Brain" platform is a vertical extension product based on the industrial IOT field of Luokung Technology. This platform has a large horizontal expansion space in the application of local industrial cloud. In addition, by relying on the cooperation with Tencent industry cloud and KDFlink, "Spatial-Temporal Ultra Brain" will give better access to the local industrial enterprises to provide more efficient intelligent services.

BEIJING, Sept. 24, 2019 /PRNewswire/ -- Luokung Technology Corp. (LKCO) ("Luokung" or the "Company"), is one of the global leading spatial-temporal big-data processing technology companies, a leading interactive location-based services company in China, today announced that eMapgo Technologies (Beijing) Co., Ltd. (hereinafter referred to as the "EMG") to officially launch its Map Cloud Platform (the "Map Cloud Platform") (http://lbs.emapgo.cn) to provide map services to enterprises as a neutral map maker.

On August 27, 2019, Luokung engaged into a share purchase agreement to acquire 100% of EMG and made an announcement on the following day, and the two parties are currently in the process of closing the transaction.

The Map Cloud Platform offers map functions and solutions to both institutional and individual developers to explore and meet the personalized demand of different user groups for maps. The Map Cloud Platform provides multiple map service functions, including customized map presentation styles, multiple ways of query and search, multiple routing plans, field navigation and customized map editing platform. In comparison to the competing map service providers in the market, the Map Could Platform is client-oriented, orchestrated and highly customized in respect to data, engine and service, which enables private cloud deployments of data-rich, full-featured and flexible and highly customized customer-centric solutions. Currently, EMG is working closely with global and domestic first-tier cloud service providers, and expects to provide compliant, accurate and effective support to their IOT and autonomous driving services in Chinese market.

Luokung actively integrates it's SuperEngine spatial-temporal data processing and indexing technology with EMG's Map Cloud Platform to commercialize a full-vector non-slice personalized map service. Meanwhile, it significantly enhances the capabilities of spatial data in computing, intelligent analysis and presentation of the Map Cloud Platform, which empowers the Map Cloud Platform with greater graphical data computing operational capabilities.

BEIJING, Sept. 19, 2019 /PRNewswire/ -- Luokung Technology Corp. (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.

BEIJING, Sept. 16, 2019 /PRNewswire/ -- Luokung Technology Corp. (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 entered into a strategic agreement with People's Daily Online Technology (Beijing) Co.,Ltd ("People's Daily Online") on establishing a strategic technology cooperative relationship. Both parties will promote in-depth cooperation on jointly development of but not limited to five fields, including news map and the platform for contents authors, cooperative operation on contents of trip services related to high-speed train, brand promotion cooperation, activity cooperation and talent exchange.

Luokung's full vector non-sliced map technology and its LBS interactive technology enable users to discover valuable information contents around them. Meanwhile, Luokung's AI smart technology can perfectly match contents and locations, and accurately push according to the algorithm of user portrait, and with the precise algorithm and map full vector full data exchange capabilities to meet the user's local contents interaction, thus the map is no longer limited to a simple and traditional navigation needs requirement, but to become a new media portal.

People's Daily Online will leverage its brand, resource and content advantages in the Internet and new media, and aggregates a large amount of premium content based on its aggregated distribution business, which can reach a broader user base through Luokung's mobile Internet LBS service platform

Based on Luokung's LBS interaction technology, each information content with local attributes is directly presented on the map, and Luokung's AI knowledge learning assistant system "BotBrain Zhiyu" will used to provide users contents base on more precise interest and demand. Based on the location, users can interact with more contents on the map to maximize the value of the content and promote the efficient dissemination of the main thematic values.

The People's Intelligence Platform is a social creative power service platform hosted by People's Daily Online and sponsored by People's Daily Online Technology (Beijing) Co., Ltd. It has launched content aggregation distribution business cooperation with Communication University of China, China Publishing Group Digital Media Co., Ltd., China Animation Group, Huawei, Xiaomi, OPPO and other enterprises. People's Daily Online is actively presenting the best quality content and the most interactive interaction to users through the People's Intelligence Platform. Luokung intend to make the map a new interactive media, and the both parties will work closely together to become an innovative model of media cooperation.

BEIJING, Aug. 28, 2019 /PRNewswire/ -- 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 entered into an agreement to acquire 100 percent of the equity interests of eMapgo Technologies (Beijing) Co., Ltd. (hereinafter referred to as the "EMG") from EMG's original shareholders for RMB 836 million (approximately equivalent to USD 119 million) (the "Acquisition"), which includes about RMB 709 million in cash, and the remaining RMB 127 million will be paid by the Company's common stock at the conversion rate of $7 dollars per share. The agreement to acquire EMG is conditioned on, among other things, the Company's ability to raise the necessary financing to consummate the acquisition of EMG.

The Company expects the completion of the Acquisition will significantly increase its holding quantity of the underlying data, and to enhance its long-term sustainable production capabilities of the underlying data collection. EMG's mapping capabilities and its underlying database along with the Company's SuperEngine Spatial-Temporal big data engine capability will serve as the Company's two core technology clusters to support services and applications in LBS, remote sensing data, networking, smart city, autonomous driving and other fields. The integration of EMG's underlying data and SuperEngine's data engine will expand the Company's capability beyond provision of technical prowess to much deeper and richer scenarios, thus provide the Company ability to establish a complete set of solutions covering full upstream and downstream industrial chains.

In addition, the Company expects to launch China's first Spatial-Temporal full-vector non-tiled covering indoor and outdoor map, by combining the technology from its subsidiary, Yuanli Anda, a Company with largest indoor geographic location data in China along with EGM's underlying data, provide customized real-time dynamic location services for enterprises in various industries.

After the Acquisition, EMG will continue to conduct its business activities independently and provide services to customers as a neutral mapping-company.

BEIJING, Aug. 14, 2019 /PRNewswire/ -- 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 its strategic cooperation to provide cloud services based on image data from remote sensing satellites to manage data unification for the China Centre for Resources Satellite Data and Application (hereinafter referred to as the "CRESDA")  , thus to further achieve more reliable, safer and efficient data cloud service.

Based on Luokung and CRESDA's advantages and resources, both parties expect to actively investigate and steadily advance in deep cooperation. Both parties will jointly establish an industry leading remote sensing spatial temporal big data cloud service platform to provide advanced products, applications and technology services for customers in the fields of land resources management, environmental protection, water conservancy, surveying and mapping, marine, agriculture and forestry, emergency management and others.

Both parties will actively participate in deep cooperating on major state projects that CRESDA is responsible for the China High-resolution Earth Observation System. Based on the existing technology Luokung has provided, which includes the remote sensing image cloud services and publishing platform and APP of Earth Imagery, Luokung will continue to develop its corresponding leading technical services to fully meet the demand of these major state projects.

BEIJING, Aug. 5, 2019 /PRNewswire/ -- Luokung Technology Corp. (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 received the $6 million payment for the 2nd tranche of 1,000,000 shares sold pursuant to the Securities Purchase Agreement signed with Honbridge Holdings Limited on January 16, 2019.

The Securities and Exchange Commission has confirmed the effectiveness of the Company's registration statement, which includes 1 million ordinary shares the Company will issue to Hongbridge Holding Limited within three days after receives subsequent payment.

BEIJING, May. 30, 2019 /PRNewswire/ -- Luokung Technology Corp. (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 its strategic partnership with Land Space Technology Corporation Ltd. ("Land Space"). The two parties will work together and take advantage of respective strength on commercial space cooperation with satellite remote sensing data applications as the main target market. They will jointly develop domestic and foreign markets of products and services which are not limited to spatial-temporal big-data applications and aerospace application systems, and jointly build a measurement and control system for rockets, satellites and earth stations with global coverage.

On the strength of its accumulated customer resources and marketing channels in international aerospace market, Land Space will cooperate with Luokung on developing the domestic and foreign launch service markets, remote sensing data application market, and target users in different market segments. Luokung can integrate its world's first spatial-temporal cloud index technology and the world's leading spatial-temporal big data processing and algorithm technology with the business of Land Space, which will provide stable, efficient and customized spatial-temporal cloud computing support for clients in the spatial temporal big data processing, analyzing, transmission and release services in internet and mobile internet.

To build a global coverage measurement and control system for rockets, satellites and earth stations, Luokung will provide its world leading spatial-temporal cloud indexing technology, spatial-temporal big-data processing, algorithm and AI technology for real-time tracking analysis and display of position trajectory and attitude of rockets and satellites, to meet the needs of the global coverage of satellite services and mobile service universality as well as the requirements of overall network reliability and security, and to build a global information network with seamless coverage of space and earth.

BEIJING, May 13, 2019 /PRNewswire/ -- Luokung Technology Corp. (LKCO) ("Luokung" or the "Company"), a leading global spatial-temporal big-data technology company and a leading interactive location-based services company in China, today announced that it has signed a stock purchase agreement to acquire 67.36% of Beijing BotBrain AI Technology Ltd and BOTBRAIN AI LIMITED (collectively "BotBrain ").

The Company will invest RMB 20 million to BotBrain and will issue 804,162 ordinary shares at USD $7 per share to the former institution investors of BotBrain to obtain 67.36% (the "Acquisition"). The 32.64% share equity of BotBrain will be remained by Mr. Xueyu Lu, the founder and CEO of BotBrain, along with BotBrain 's core team members. After the Acquisition, Mr. Lu will continue as CEO of BotBrain AI.

BotBrain was established in January 2016, and it has been becoming an advanced provider for intelligent content solutions in China. It's artificial intelligence algorithms and technology are applied in Chinese semantic analysis, intelligent voice interaction, knowledge graph learning, personalized contents recommendation and other related big data analysis.

There are two independent business brands in BotBrain. "Max" content brain is an AI content management and operation platform, which provides AI solutions based on its content services. "BotBrain Zhiyu" is an AI knowledge learning assistant system.

BotBrain has been serving many well-known enterprises based in China, including People's Daily Overseas, ChinaNews, Kaishu Story, Baby Tree, Baofeng, Bank of China, State Grid, FAW, CreditEase, Facebank and Kingsoft Cloud etc., which involve various industries including media, mobile internet, banking, automobile, financial services, retails and energy.

BotBrain has started the cooperation with the Company in technology supports prior the Acquisition, it provides intelligent geographic information algorithms service for us, and Its technology of semantic analysis, knowledge graph and personalized contents recommendation significantly supports the LBS service of Luokung. After the Acquisition, BotBrain will put more investment in the research of intelligent spatial temporal data algorithm and application. BotBrain will provide critical intelligent technologies and application experiences to support our LBS business, personalized full-vector map, and enable us to improve the services we provide to mobile Internet industry and users. Therefore, the Company's LBS business platform is able to gain a greater competitive advantage.

The founder and CEO of BotBrain, Mr. Lu Xueyu processes more than 40 patents relating to the contents intelligence service algorithms. Mr. Lu has more than 13 years experiences in big data and AI industry, he has had an in-depth comprehension and long-term practice in big data, AI and personalized recommendation and Mr. Lu is one of the earliest practitioners in this field in China. Mr. Lu worked in Tencent, Alibaba Youku and Xiaomi and was responsible for the construction and management of big data and artificial intelligence teams, gained many successful implementation experiences for the establishment of big data and recommendation systems. In 2006 in Tencent, Mr. Lu took the lead in using artificial intelligence technology in virus discovery, effectively helped Tencent to protect nearly 1 billion QQ users' account information security. In Youku, Mr. Lu served as technical director and set up the big data and personalized recommendation system for videos, the system was able to proceed more than 100 billion data daily, it was the system with the highest recommendation accuracy in the field of video websites at that time. During the time in Xiaomi, Mr. Lu was the technical director and was in charge of Xiaomi's data workshop, he was also responsible for the Xiaomi ecological big data business.

BEIJING, May 2, 2019 /PRNewswire/ -- Luokung Technology Corp. (LKCO) ("Luokung" or the "Company"), one of global leading spatial-temporal big-data processing technology company, a leading interactive location-based services company in China, today announced its high-quality movie entertainment service independent brand -- Facee Cinema -- has recently achieved to provide movie entertainment service for both on-train and off-train scenes, which enables users to continue to watch movies through the Facee Cinema embedded in the "High-Speed Train on Hands" APP after users get off the high-speed train. The Facee Cinema has now become one of the most popular services for passengers using entertainment content services.

The Company previously announced it has entered a cooperation agreement (the "Agreement") with China Railway Gecent Technology Co., Ltd. ("Gecent") to provide movie content SDK, movie copyrights and operating services for the"High-Speed Train on Hands" APP. The Facee Cinema is a high-quality video entertainment service independent brand developed by the Company and Gecent based on the Agreement and was launched on the "High-Speed Train onHands" APP in January 2019.

Luokung expects that the Facee Cinema will implement functions including members' access, pay-view movies and so on in June 2019. The Company will provide up to 1,000 domestic and foreign movies for passengers. Meanwhile, the Company expects to launch the Facee Cinema's independent mobile phone APP in August 2019. The Company anticipates the Facee Cinema to become a premium network content broadcast channel and a content distribution platform operator for high-speed trains, airports and other high-quality channels.

BEIJING, March 5, 2019 /PRNewswire/ -- Luokung Technology Corp. (LKCO) ("Luokung" or the "Company"), one of global leading spatial-temporal big-data processing technology company, a leading interactive location-based services company in China, today announced its wholly owned subsidiary Shenzhen Jiu Zhou Shi Dai Digital and Technology Limited ("Jiu Zhou Shi Dai") recently engaged a cooperation agreement with China Railway Gecent Technology Co., Ltd. ("Gecent") to provide movie content SDK, movie copyrights and operating services for "High-Speed Train in Hands" APP (the "APP"). As the exclusive Wi-Fi operator for high-speed trains in China, Gecent is able to provide travelling services for more than 2 billion passenger trips annually. The on-train entertainment service is one of the most important services for travelling passengers.

The Company will cooperate with Gecent to exclusively operate the movie content on the APP. There will be an exclusive channel for the Company to provide up to 1,000 domestic and foreign movies for passengers. The APP users are able to continue enjoying their movies when they arrive at the destination from the APP or the Company's independent proprietary movie APP. The source of revenue is derived from pre-roll adverts and pay-view movies. The revenue generated on train will be shared between two parties.

The Company is also the strategic partner of Gecent for LBS along railway and LBS of indoor station.

BEIJING, Jan. 29, 2019 /PRNewswire/ -- Luokung Technology Corp. (Nasdaq: LKCO) ("Luokung" or the "Company"), one of global leading spatial-temporal big-data processing technology company, a leading interactive location-based services company in China, today announced its strategic partnership with Beidou Navigation and Location Service (Beijing) Limited ("China-LBS"), which is the builder and operator of Beidou Navigation and Location Service Industrial Public Platform. The partnership aims at providing a leading spatial-temporal big data platform service in the area of intelligent transportation to the Company's users.

China-LBS has been made the designated public platform for location-based services by Beijing government. China-LBS' platform has significant data resources in the navigation and location-based services industry, including aerial images data, satellite images data, digital elevation models, vector topography, geographical names database, navigation electronic maps, nautical charts and navigation channel charts, meteorological and hydrological data, users' location data of terminals. The platform also has significant shared bicycle tracks, transport and personal vehicle tracks in Beijing area. The accumulated data is over 200T (TrillionByte). In addition, it provides lane-level high-precision location-based services on top of its lane data with centi-meter level accuracy for the express way.

Luokung processes the world leading spatial-temporal cloud indexing technology and vector data processing technology, which can quickly unlock the value of the data through efficient processing of massive spatial-temporal data.

Combining the strength of the massive data resources of Beidou navigation and location, and Luokung's advanced technology in dynamic location data analysis, HD Map and real-time analysis, the partnership allows Luokung to further extend the reach and capability of its urban traffic neural network, and to provide the foundation for Autonomous Driving, Intelligent Network, Smart Traffic and Smart City.

Luokung will provide China-LBS with stable, elastic, efficient spatial-temporal cloud computing support based on its full-vector, non-slicing mobile internet map. The two parties will jointly build a public location service platform for information interchanging, data sharing, resource integration and application integration.

Both parties will promote the application of Beidou, offer innovative location-based services in wide range of business scenarios, and jointly build a full Spatial-temporal Big Data Integrated Management Platform in the area of intelligent transportation that covers expressway, inland marine, fleet operation, travel sharing and other applications. They will together create a bright future for spatial-temporal services.

BEIJING, Jan. 24, 2019 /PRNewswire/ -- Luokung Technology Corp. (LKCO) ("Luokung" or the "Company"), a global leading graphics data processing technology company, a leading interactive location-based services company in China, today announced its strategic cooperation with the National Engineering Research Center for Remote Sensing Applications ("the Engineering Center"), which is China's national level center of scientific research and development, technological innovation and industrialization in the area of remote sensing application. The two parties are pleased to jointly establish a national level "Spatial-temporal Data Research Center" which will allow the parties to access synergies and complementary advantages and achieve further development in the spatial temporal data industry.

Both government and industry users' demand for remote sensing big data is expanding rapidly as the commercialization of remote sensing satellite data and the One-Stop application of this data is now in significant demand in the market. The Engineering Center is supported by the Institute of Remote Sensing and Digital Earth Chinese Academy of Sciences, and it possesses the mega satellite remote sensing data collected from 1986 until now from global satellites (including French SPOT satellite series, the USA Landsat series, the Indian IRS-P6, the European Space Agency ENVISAT-1 and the Canadian RADARSAT series) through the China Remote Sensing Ground Station. Based on its proprietary mega satellite remote sensing data, its strong research strength, scientific achievements and technical applications, Luokung is receiving the full support necessary to realize the scientific research and development, technological innovation and industrialization in the area of remote sensing application. Both parties will cooperate fully and closely to establish the One-Stop application platform for national remote sensing big data.

Based on Luokung's non-slicing technology supported by a series of its proprietary patents, PB (PB: Petabyte) sized image data is allowed to be released in seconds, the actual effect of image data rendered can be presented in real time. Luokung's technology provides a strong performance guarantee and a solid technical foundation for the instant distribution of mega image data and automated lifecycle management.

Both parties will cooperate fully and closely in the domain of spatial-temporal data with respect to their industry resources and R&D achievements in order to build the remote sensing big data application platform to fulfill the market needs. In addition, the two parties will, in collaboration with distribution channels across the nation of high-resolution satellites' remote sensing data, build the industrialized remote sensing cloud service platform, which provides services on combining remote sensing data and subject-information, analytical and processing software, storage and computing equipment, and business application software. The cloud platform, with the remote sensing data service as its core, will make profit from the value-added services. The two parties will also vigorously collaborate to expand the remote sensing industry ecosystem, composed of "data, software, equipment and collaborative services to enable rapid industry service integration, promote on-demand need-based client servicing and profit sharing among service providers, in order to advance the industrialization of the next generation of remote sensing cloud services.

BEIJING, Jan. 17, 2019 /PRNewswire/ -- 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 $12,000,000 (the "Subscription Amount"). Upon receiving 50% of the Purchaser's Subscription Amount, (the "Initial Subscription Amount"), the Company shall deliver the 1,000,000 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.

BEIJING, Jan. 14, 2019 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ-NMS: LKCO) ("LK" or the "Company"), one of global leading graphics data processing technology companies, a leading interactive location-based services company in China, today announced a reminder to the owners and holders of the Company's ADRs to convert into Ordinary Shares of the Company. The ratio between each ADR and its underlying Ordinary Share is 1:1, namely, one ADR represents one Ordinary Share. Subsequent to January 21, 2019, the Bank of New York Mellon may attempt to sell any Ordinary Shares remaining on deposit. The owners and holders of the Company's ADRs can contact their broker or the Company via ir@luokung.com in order to convert their ADRs to Ordinary Shares.

As previously announced in its press release dated on January 2, 2019, the Company listed its Ordinary Shares on NASDAQ, effective upon the opening of trading on January 3, 2019.

The Bank of New York Mellon, as depositary (the "Depositary") for the Company's ADR facility, notified the owners and holders of the Company's ADRs that the ADR facility terminated on September 19, 2018. Under the terms of the Deposit Agreement among the Company, the Depositary and the owners and holders of ADRs of the Company (the "Deposit Agreement"), the owners and holders of the Company's ADRs have until at least January 21, 2019 to surrender their ADRs to the Depositary for delivery of the underlying Ordinary Shares of the Company. Subsequent to January 21, 2019, under the terms of the Deposit Agreement, the Depositary may attempt to sell any Ordinary Shares remaining on deposit with the Depositary.

BEIJING, Sept. 20, 2018 /PRNewswire/ -- Luokung Technology Corp. (LKCO) ("LK" or the "Company"), a global leading graphics data processing technology company, a leading interactive location-based services in China, and a pioneer and leader of the railway Wi-Fi market in China, today announced that it has completed the voluntary delisting of its ADRs from the Nasdaq Capital Market ("NASDAQ") on September 19, 2018 and will delay the listing of its ordinary shares on NASDAQ in response to administrative delays. The Company anticipates that such processes will be completed in the next few days. The Company will issue another press release announcing the effective date of the listing of its ordinary shares as soon as it receives confirmation from NASDAQ.

The Company further announced that, due to administrative delays, the issuance of 185,412,599 of the Company's ordinary shares (the "AEA Shares") to the stockholders of C Media Limited as contemplated by that Asset Exchange Agreement, dated January 25, 2018, had not be effected as of September 19, 2018. The Company expects to complete the issuances of the AEA Shares on or about September 21, 2018.

NEW YORK, Sept. 19, 2018 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market® (Nasdaq: NDAQ) announced that trading was halted today in Luokung Technology Corp. (Nasdaq: LKCO) at 11:14:02 Eastern Time for "additional information requested" from the company at a last sale price of $7.61.

Trading will remain halted until Luokung Technology Corp. has fully satisfied Nasdaq’s request for additional information.

For news and additional information about the company, please contact the company directly or check under the company’s symbol using InfoQuotesSM on the Nasdaq® Web site.

BEIJING, Aug. 27, 2018 /PRNewswire/ -- Luokung Technology Corp. (KONE) ("LK" or the "Company"), a leading long-distance travel mobile service and technology service provider in China, today announced that LK Technology Ltd., a wholly-owned subsidiary of the Company, has entered into a Stock Purchase Agreement (the "Agreement") with Superengine Holding Limited ("SuperEngine") and its shareholders (the "Shareholders").

Pursuant to the Agreement,  LK Technology is acquiring all of the issued and outstanding ordinary shares of SuperEngine from the Shareholders for an aggregate purchase price of US$60 million (the "Purchase Price"), which will be paid by the issuance of ordinary shares of the Company (the "Ordinary Shares") in an amount equal to the quotient of (x) the Purchase Price divided by (y) the average of the closing prices of the Ordinary Shares on the NASDAQ Capital Market over the 12 month period preceding July 31, 2018.

SuperEngine, the world-first spatial-temporal data indexing technology, is a global leader in graphics data processing, and possesses patented technologies in large-scale spatial-temporal data indexing, storage, transmission and visualization that can be used in vector maps, HD intelligent maps, interactive location services, smart cities, intelligent transportation systems, mapping and surveying, remote sensing and monitoring, and other related fields. SuperEngine currently holds fifteen patents and nine patent application rights in U.S., Europe, Japan and China. Its graphics processing system is a thousand times more efficient than competing technologies in querying, retrieving, transmitting and rendering graphical information, allowing TB sized data to be released in seconds. 

SuperEngine's technology will enable our product LuoKuang APP to provide the world's first non-sliced, fully-vectored and fully-functional Internet map service, and our product users will be able to experience a new and more personalized interactive location data service.

Upon the consummation of the Agreement, the Company will be able to further expand into the intelligent application industry on the strength of SuperEngine's technologies, greatly enriching our lines of business and creating more value for the Company and its mobile offerings.

Mr. Xuesong Song, Chairman and CEO of the Company said, "we are dedicated to providing interactive location-based services, while SuperEngine possesses world-first spatial-temporal data indexing technology that has attained enviable competitive advantages in geographical location applications and the full vectorization of map data. SuperEngine's technologies will enable LK to differentiate our products as unique, innovative and appealing. We will create greater value by integrating spatial temporal data processing technology with our core capability of continuously acquiring users through on-the-train Wi-Fi access. Additionally, SuperEngine's technologies will enable us to expand beyond travel-based services to traffic navigation, remote sensing, mapping, monitoring and other spatial temporal data services. Furthermore, SuperEngine's big data processing and big data visualization technology will also be applicable to smart cities, intelligent transportations and many other fields. The LK and SuperEngine teams will work together to develop embeddable SDKs, service APIs, and other platform-level products to establish a spatial temporal data ecosystem based on location services. We are excited about applying SuperEngine's graphics data processing technologies to the realm of the Internet of Things because they will significantly improve computing efficiency and reduce required computing power in various end-to-end and end-to-cloud graphics data processing scenarios. We are pleased to have Mr. Futian Dong, the founder of SuperEngine and the inventor of spatial-temporal data indexing technology, become the chief scientist of LK, and Mr. Dong will lead our R&D team in the development of a spatial-temporal intelligent platform. As we say, 'Let's have a Spatial Temporal Life and Intelligent Life.' We believe LK will create outstanding value for society, our users and our shareholders."

Mr. Dongpu Zhang, CEO of SuperEngine, added, "as a world-leading graphics data processing technology company, we have a portfolio of invention patents in the U.S., Europe, Japan and China, which has placed us in a worldwide leading position in spatial temporal data processing, big data extraction, transmission and presentation. The acquisition by LK will enable us to rapidly expand spatial temporal data and graphics processing services in more Internet applications, Internet of Things applications, industrial applications, and other relevant fields. We are positioned to become a major player in the rapidly growing market of mobile location-based applications, intelligent transportation, and smart cities based on geographic information technology. 'Let's have a Spatial Temporal Life and Intelligent Life.' Together we will create great value for our shareholders."

BEIJING, Aug. 22, 2018 /PRNewswire/ -- Luokung Technology Corp. (formerly known Kingtone Wirelessinfo Solution Holding Ltd, Nasdaq: KONE) (the "Company"), a company incorporated in British Virgin Islands ("BVI"), today announced that it has completed the transactions contemplated by the Asset Exchange Agreement ("AEA") with C Media Limited ("C Media") entered into on January 25, 2018, and has changed its name to Luokung Technology Corp., effective August 20, 2018.

On January 25, 2018, the Company executed the AEA with C Media, pursuant to which the Company agreed to purchase all of the capital stock and equity interests of LK Technology Ltd., together with its wholly-owned subsidiaries MMB Limited and Mobile Media (China) Limited and all their respective subsidiaries, from C Media in exchange for (i) 185,412,599 ordinary shares of the Company, par value $0.01 per share, (ii) 1,000,000 preferred shares of the Company and (iii) all of the issued and outstanding capital stock or equity interests of the Company's subsidiary, Topsky Info-Tech Holdings Pte Ltd., and its wholly-owned subsidiary Xi'an Softech Co., Ltd., including all entities effectively controlled by Xi'an Softech Co., Ltd. through contractual arrangements and variable business entities (the "Transaction").  The Transaction was closed on August 17, 2018.

Upon the closing of the Transaction, the Company, through its wholly-owned subsidiary LK Technology Ltd. ("LK Technology"), gained the rights to deploy Wi-Fi systems on approximately 700 trains in China, including 290 trains in which Wi-Fi systems have already been installed and are currently in operation. The Company also received all rights associated with the core mobile application of technologies held by LK Technology, the Luokung online entertainment and social platform ( the "Luokuang platform"), including APP, a series of supporting software for servers, and Wi-Fi hardware and equipment on the trains. The Luokuang platform incorporates technology covered by 5 patents and about 10 software copyrights, and will serve as a content and service distribution platform tailored for particular travel stages and featuring geographic location and social interaction. The content and services distributed by the Luokuang platform include information, entertainment, travel, e-commerce, OTO, advertisement and marketing features.

On August 20, 2018, the Company completed the change of its name with the BVI Registry of Corporate Affairs to Luokung Technology Corp.

In addition, on August 6, 2018, the Company received approval from Nasdaq in connection with the listing of ordinary shares of Luokung Technology Corp. on The Nasdaq Capital Market. The Company has reserved trading symbol LKCO with Nasdaq.

Kingtone Wireless Info Solution (NASDAQ:KONE) ($7.08; $9.9M market cap), a developer and provider of mobile enterprise solutions,announced that it has completed the transactions contemplated by the Asset Exchange Agreement with C Media Limited entered on January 25, 2018, and has changed its name to Luokung Technology Corp., effective August 20, 2018.

Pursuant to the agreement the company agreed to purchase all of the capital stock and equity interests of LK Technology Ltd., together with its wholly-owned subsidiaries MMB Limited and Mobile Media (China) Limited and all their respective subsidiaries, from C Media in exchange for (i) 185,412,599 ordinary shares of the Company, par value $0.01 per share, (ii) 1,000,000 preferred shares of the Company and (iii) all of the issued and outstanding capital stock or equity interests of the Company's subsidiary, Topsky Info-Tech Holdings Pte Ltd., and its wholly-owned subsidiary Xi'an Softech Co., Ltd., including all entities effectively controlled by Xi'an Softech Co., Ltd. through contractual arrangements and variable business entities (the "Transaction").  The Transaction was closed on August 17, 2018.

XI'AN, CHINA / ACCESSWIRE / January 30, 2018 / Kingtone Wirelessinfo Solution Holding Ltd. (NASDAQ: KONE) ("Kingtone," or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced the Company and C Media Limited ("C Media"), a corporation organized under the laws of the Cayman Islands and one of the leading mobile service and technology providers of long distance travel including the railway Wi-Fi market in China, have entered into an Asset Exchange Agreement (the "Agreement") to acquire all of the assets of C Media in exchange for essentially all the assets of the Company ("the Asset Exchange"). The assets to be exchanged by the Company consists of the equity interests of the Company in its principal operating subsidiary. The assets of C Media consisting primarily of the equity interests of C Media's operating subsidiaries in China. The Asset Exchange was based on the valuation reports of both C Media and the Company made by an independent third-party appraisal firm. The Company also agreed to pay the difference of the fair market values between C Media and the Company by issuance of 185,412,599 ordinary shares and 1,000,000 preferred shares of the Company to C Media. The preferred shares to be issued by the Company are expected to have an initial per share voting weight of 399 votes to the major shareholders of C Media. The details of the Asset Exchange can be found in the Company's Form 6-K and its exhibits filed with SEC on the same date.

The Asset Exchange is subject to the satisfaction or waiver (if applicable) of closing conditions, including shareholders' approvals and Nasdaq approval.

XI'AN, China, June 30, 2017 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (KONE) ("Kingtone", "we" or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced the financial results for the six months ended March 31, 2017. The financial statements and other financial information included in this press release are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Financial Highlights for the Six Months Ended March 31, 2017:

Revenues increased 1.2% to $0.5 million from $0.49 million for the six months ended March 31, 2016;

Gross profit increased 5.2%to $0.22million from $0.21 million for the six months ended March 31, 2016;

Gross margin increased to 44% from 42.3% for the six months ended March 31, 2016;

Net income of $0.05million as compared to net loss of $0.7 million for the six months ended March 31, 2016.

Basic and diluted income per share was $0.03for the six months ended March 31, 2017 compared to basic and diluted loss per share of $0.48 for the six months ended March 31, 2016. Weighted average shares outstanding for the six months ended March 31, 2017 remained unchanged at 1,405,000.

The Company's business is recovering gradually and the Company had also taken measures to increase the profit including cutting the headcounts to decrease the cost," said Mr. Peng Zhang, Chief Executive Officer, "Although the overall market of software solution is not positive, the Company still achieved the steady business growth. I hope our investors can be more patient with our business and capital market performance. In the future we will continue to take measures to improve our performance and optimize our business model to achieve sustainable growth."

XI'AN, China, June 30, 2016 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (KONE) ("Kingtone", "we" or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced the financial results for the six months ended March 31, 2016. The financial statements and other financial information included in this press release are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Financial Highlights for the Six Months Ended March 31, 2016:

• Revenues decreased 94.1% to $0.5 million from $8.5 million for the six months ended March 31, 2015;
• Gross profit decreased 95.2% to $0.2 million from $4.4 million for the six months ended March 31, 2015;
• Gross margin decreased to 42.3% from 51.5% for the six months ended March 31, 2015;
• Net loss of $0.7 million as compared to net income of $2.6 million for the six months ended March 31, 2015.

Basic and diluted loss per share was $0.48 for the six months ended March 31, 2016 compared to basic and diluted income per share of $1.87 for the six months ended March 31, 2015. Weighted average shares outstanding for the six months ended March 31, 2016 remained unchanged at 1,405,000.

"We had a tough first half of the fiscal year. While the business conditions deteriorated rapidly, we faced strong competition in our wireless system solution business. Since the "Jingbian Integration Project" completed, we have not signed any big contracts which led our revenue significantly dropped in this first half year," said Mr. Peng Zhang, Chief Executive Officer. "In addition, a growing number of small service providers compete very aggressively on price which negatively affected our ability to win new contracts. While we believe that this situation may be temporary, it is difficult to predict how long it will take for the market to return to a better price level. In the meantime, we have taken a number of measures to improve our performance and strengthen our business model to achieve sustainable growth."

Fiscal Year 2015 Financial Highlights

• Revenues increased by 42.6% to approximately $8.8 million from approximately $6.2 million in the prior year period.
• Basic and diluted earnings per share were $0.73 as compared to loss per share of $0 in the prior year period with weighted average shares outstanding of 1,405,000 in both periods.

"We are pleased with our increased profit, generated $1 million net income during the last fiscal year," said Mr. Peng Zhang, Chief Executive Officer of the Company, "Looking forward to the Fiscal Year 2016, we expect revenue of $7 million to $10 million; net income of $0 to $0.8 million. We are confident in accomplishing our goals in the next year."

Financial Outlook

For the fiscal year ending September 30, 2016, management expects revenues of $7 million to $10 million and net income of $0 to $0.8 million.

XI'AN, China, July 10, 2015 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (Nasdaq: KONE) ("Kingtone", "we" or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced the financial results for the six months ended March 31, 2015. The financial statements and other financial information included in this press release are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Revenues in the First Six Months of FY2015 Up 132.9% to $8.5 Million from the First Six Months of FY2014

Basic and Diluted Income Per Share of $1.87 in the First Six Months of FY2015 Up $2.36 from Loss Per Share of $0.49 in the First Six Months of FY2014

Mr. Peng Zhang, Chief Executive Officer of the Company, stated, "We are very pleased with our performance on business operation, which generated $2.6 million net income in the first six months ended March 31, 2015." He concluded, " Looking forward, we expect revenue of $12.0 million to $15.0 million, and net income of $0.5 million to $1.0 million for the fiscal year 2015. We are confident in accomplishing our goals at the end of fiscal year 2015."

Financial Outlook

For the fiscal year ended September 30, 2015, management expects revenues of $12.0 million to $15.0 million and net income of $0.5 million to $1.0 million.

XI'AN, China, January 15, 2015 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd. (Nasdaq CM: KONE) ("Kingtone", or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced financial results for its fiscal year ended September 30, 2014. The financial statements and other financial information included in this press release are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Fiscal Year 2014 Financial Highlights

• Revenues decreased by 46.5% to approximately $6.2 million from approximately $11.6 million in the prior year period.
• Basic and diluted loss per share were $0 as compared to loss per share of $3.65 in the prior year period with weighted average shares outstanding of 1,405,000 in both periods.

"We are pleased with our cost-control process leading our significantly increased profit during the last fiscal year," said Mr. Peng Zhang, Chief Executive Officer of the Company. "Looking forward to Fiscal Year 2015, we expect revenue of $12.0 million to $15.0 million; net income of $0.5 million to $1.0 million. We are confident in accomplishing our goals in the next year."

XI'AN, China, January 17, 2014 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (Nasdaq CM: KONE) ("Kingtone", or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced financial results for its fiscal year ended September 30, 2013. The financial statements and other financial information included in this press release are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Fiscal Year 2013 Financial Highlights

• Revenues increased by 696.8% to approximately $11.6 million from approximately $1.5 million in the prior year period.
• Gross profit increased by 527.7% to approximately $1 million gross profit from approximately $0.2 million loss in the prior year period.
• Gross margin increased to 8.8% from minus 16.4% in the prior year period.
• Net loss of approximately $5.1 million as compared to net loss of approximately $9.0 million in the prior year period.
• Basic and diluted loss per share were $3.65 as compared to loss per share of $6.40 in the prior year period with weighted average shares outstanding of 1,405,000 in both periods.

"We are very glad to see the revenue has grown dramatically during the fiscal year 2013," said Mr. Peng Zhang, Chief Executive Officer of the Company, "Thanks for our investors being patient with our business and capital market performance and staying with the company during the difficult time when the company's business didn't do well for the past two years. In the future we will continue to take measures to improve our performance and strengthen our business model to achieve sustainable growth."

Financial Outlook.

For the fiscal year ending September 30, 2014, management expects revenues of $12.0 million to $15.0 million and net income of $0.5 million to $1 million.

XI'AN, China, May 22 2013 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (Nasdaq: KONE) ("Kingtone", "we" or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced financial results for the six months ended March 31, 2013.  The financial statements and other financial information included in this press release are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Financial Highlights for the Six Months Ended March 31, 2013:

• Revenues increased 153.1% to $3.0 million from $1.2 million for the six months ended March 31, 2012.
• Gross profit increased 318.3% to $0.4 million from minus $0.2 million for the six months ended March 31, 2012.
• Gross margin increased to 14.8% from minus 17.1% for the six months ended March 31, 2012.
• Net loss decreased to approximately $1.8 million from approximately $5.2 million for the six months ended March 31, 2012.
• Basic and diluted loss per share was $1.29 for the six months ended March 31, 2013 compared to basic and diluted loss per share of $3.70 for the six months ended March 31, 2012. Weighted average shares outstanding for the six months ended March 31, 2013 remained unchanged at 1,405,000*.

"Although it is a gradual process, I am glad to see our business is recovering," said Mr. Peng Zhang, Chief Executive Officer. "We believe that our business will grow slowly but steadily, and hope our investors will remain patient with our business and capital market performance. It is clear that the current economic environment presents a series of challenges and opportunities. Ultimately, we believe that client demand for our products and services will be the main force in driving our performance."

XI'AN, China, November 5, 2012 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (NASDAQ: KONE) ("Kingtone", or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced that its Board of Directors has approved a combination, or reverse split of the ordinary shares currently issued by the Company at par value of $0.001 per share such that the Company shall issue one (1) ordinary share (each, "New Share," collectively "New Shares") for every ten (10) ordinary shares held by its members ("Old Shares") (the "Reverse Split").

The Reverse Split is expected to be effective November 6, 2012. The par value of each New Share will be $0.01, equal to the aggregate of the par value of ten Old Shares combined. The ratio between each American Depositary Share ("ADS") and its underlying ordinary share post-Reverse Split remains the same, namely, one ADR remains to represent one New Share.

The Company's ADSs will be trading under the new CUSIP number 496880105 upon the effectiveness of the Reverse Split. No change will be made to the trading symbol except a "D" will be added on the ticker symbol once the Reverse Split is effective and will be removed 30 days thereafter.

As a result of the Reverse Split, the price of the ADS is expected to automatically increase proportionally. Although the purpose of this Reverse Spit is to maintain the continued listing of the ADSs on NASDAQ, the Company can give no assurance that this goal will be achieved.

XI'AN, China, October 9, 2012 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (Nasdaq: KONE) ("Kingtone", "we" or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced that it has signed a contract with Hualu Engineering & Technology Co., Ltd. ("Hualu") to provide wireless system service to Hua lu's coal chemical factory in Jingbian Energy and Chemical Projects and Comprehensive Utilization of Industrial Park in Shaanxi, China ("Jinbian Industrial Park"). Hualu, a state-owned enterprise in China, is dedicated to all round engineering construction services.

The objective of the contract is to provide engineering services to Hualu's coal chemical factory in Jingbian Industrial Park. The services to be performed under this contract include installation, debugging and initial training the staff operating the tank, engineering instruments and telecommunications.

"The signing of this significant contract with Hualu, a large engineering enterprise with remarkable reputation, is a great encouragement to the company in consideration of our depressed business in the past year. It is expected to contribute RMB108.6 million, or approximately $17.2 million revenue to the company," said Chief Executive Officer of Kingtone Mr. Peng Zhang. "We are honored that Hualu selected us for this important role and look forward to building our longstanding relationship with them. We are confident that the engagement with Hualu will enable us to well position and expand our business in the wireless system sector and therefore enhance our share performance in the near future."

Six Month 2012 Results

• Revenues decreased 60.7% to $1.2 million from $3.0 million in the prior year period.
• Gross profit decreased 110.3% to minus $0.2 million from $2.0 million in the prior year period.
• Gross margin decreased to minus 17.1% from 65.2% in the prior year period.
• Net loss of approximately $5.2 million as compared to net income of approximately $0.07 million in the prior year period.
• Basic and diluted loss per share was $0.37 for the period ending March 31, 2012 compared to basic and diluted earnings per share of $0.01 during the same period last year. Weighted average shares outstanding were 14,050,000 as compared to 14,000,000 on March 31, 2012 and 2011, respectively.

"The deteriorated business environment and the corresponding increasingly fierce competition in software solutions industry have understandably led many people to question the future prospects for our industry," said Mr. Peng Zhang, Chief Executive Officer. "We saw a growing number of small service providers compete very aggressively on price and this negatively affected our ability to win new contracts, while we believe that this situation may be temporary. It is clear that the current environment presents a series of challenges and opportunities. We have taken a number of measures to improve our performance and strengthen our business model to achieve sustainable growth. We believe that the client demand for our products and services will drive our performance ultimately."

Financial Outlook

Based on the results of the first six months of fiscal year 2012 and lower anticipated sales for the second half of fiscal year 2012, in light of increased competition, price pressure and continuing negotiations for new contracts that were expected to be signed earlier in the year, the Company is revising its previously released guidance for fiscal year 2012. We now expect revenues in the range between $5 million and $6 million and net loss in the range between $8 million and $10 million.

XI'AN, China, June 22, 2012 /PRNewswire-Asia-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (Nasdaq: KONE) ("Kingtone" or the "Company"), a China -based developer and provider of mobile enterprise solutions, today announced that NASDAQ, by a letter dated June 20, 2012, granted the Company an additional 180 days, or until December 17, 2012, to remain listed on the NASDAQ Capital Market and to regain compliance with NASDAQ's minimum $1.00 bid price per share rule.

As mentioned in the Company's press release dated December 22, 2011, NASDAQ previously indicated to the Company that it had until June 18, 2012 to regain compliance with the bid price requirement but with a possibility to be granted a second compliance period if the Company meets the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on NASDAQ's Capital Market with the exception of the bid price requirement, and provides written notice of its intention to cure the deficiency during the second compliance period. As a result of NASDAQ's assessment at the end of the first compliance period, Nasdaq issued the letter granting the Company an additional 180 calendar days, to December 17, 2012, to regain compliance.

If at any time before December 17, 2012, the closing bid price of the Company's security is at least $1 per share for a minimum of 10 consecutive business days, the Company will regain compliance with the bid price rule. If the Company does not regain compliance by the end of this second grace period, its shares are subject to delisting with the option to appeal the delisting determination.

The Company intends to continue to actively monitor the closing bid price of its ADSs and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule.

Fiscal 2011 Financial Results

XI'AN, China, May 31, 2011 /PRNewswire-Asia-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd today announced unaudited financial results for the six months ended March 31, 2011. The financial statements and other financial information included in this press release are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Financial Highlights for the first Six Months of FY 2011

• Revenues decreased 46.1% to $3.0 million from $5.6 million in the prior year period.
• Gross profit decreased 56.5% to $2.0 million from $4.5 million in the prior year period.
• Gross margin decreased to 65.2% from 80.9% in the prior year period.
• Net income decreased 97.8% to $0.07 million from $3.09 million in the prior year period.
• Basic and diluted earnings per share were $0.01 as compared to $0.31 in the prior year period.

"We had a difficult first half of the year as business conditions deteriorated rapidly and competition in software solutions, our highest margin business line, became very aggressive," said Mr. Peng Zhang, Chief Executive Officer. "We saw a growing number of small service providers compete very aggressively on price and this negatively affected our ability to win new contracts. While we believe that this situation may be temporary, it is difficult to predict how long it will take for the market to return to better pricing. In the meantime, we have taken a number of measures to improve our performance and strengthen our business model to achieve sustainable growth.

XI'AN, China, May 27, 2011 /PRNewswire-Asia-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd, a China-based software and solutions developer focused on wirelessly enabling businesses and government agencies to more efficiently manage their operations, today announced that it has appointed Ms. Li Wu to serve as Interim Chief Financial Officer of the Company. Ms. Li Wu replaces Ms. Ying Yang, who formally tendered her resignation as the Company's Chief Financial Officer on the Company's meeting of the board of directors last night for health reasons.  The board accepted Ms. Yang's resignation which will be effective May 31, 2011 after her attending the Company's earnings call for the first six months of fiscal year 2011 that day.

Ms. Li Wu has been a Director of Kingtone since April 2010 and she has served as Finance Director of Kingtone Information, our contractually-controlled PRC operating company, since 2004. Prior to this position, she worked as the Deputy Finance Director at the state-owned Xi'an Metalforming Machine Factory from 1981 to 2003. Ms. Wu graduated from Shaanxi Finance and Economics College and obtained her Bachelor's degree in 1990.  In addition, Ms. Yao Ti, who has been serving as the Company's CFO assistant, will continue her assistance to the CFO including to provide Ms. Li Wu with English translations as necessary.

"Ms. Wu has a very strong background in accounting and has seven years of experience in the business and the finances of the Company. I am confident that her extensive experience will enable a smooth transition," Mr. Peng Zhang, Chief Executive Officer of Kingtone, commented, "We also extend our appreciation to Ms. Yang for her previous contributions to the Company.  We understand her situation and will truly miss her passion and dedication.  We thank Ms. Yang and wish her well."

GeoTeam® September 2010 Rodman & Renshaw notes:

KingTone Wireless Info Solution Holding Ltd.

• As of 4q there are 14 million outstanding shares.
• Calling for .66 to .70 eps for the year.
• Have 16 million in cash as of 3q.
• Year end earning call will give EPS guidance for next year.
• There are only three major telecom companies in China and KONE works with all 3. 
• Volatility in quarters is from nature of business. They are paid on completion of projects.
• Software sales will be main focus of business, because of higher margin.s
• Differences between SAT and SEC: will certainly be transparent going forward.

Please address the following statement from your filings:

"The title transfer for the Kingtone Center has been delayed because certain transfer taxes and fees have not been paid by the seller. A further delay could also delay our possession of the Premises." 

Problem has been resolved as outlined in a July 7, 2010 press release:

Kingtone Wirelessinfo Solution Holding Ltd. today announced that it recently obtained the building ownership certificates for its "Kingtone Center", a six-story, approximately 20,000 square-meter warehouse and industrial facility in Xi'an, Shaanxi Province. The building will house over 500 employees in three years as business expands with an upgraded Research & Development center and a customer support center. It will also assist sales and marketing with a showroom for demo customer applications.

The title transfer for the Kingtone Center has been delayed because certain transfer taxes and fees have not been paid by the seller. A further delay could also delay our possession of the Premises.  (Page 20 of 424B4 on 2010-05-14).

Kingtone Information entered into a purchase agreement on April 22, 2008 to purchase the land use right and building ownership of the premises located at No.17 Huoju Road, Beilin District, Xi’an (the “Premises”) for approximately $US12 million (RMB83,417,200) in an all-cash transaction. Kingtone Information has already paid 100% of the purchase price to the seller; however, the title transfer of the Premises has not been consummated because the seller has not yet paid transfer taxes and fees of approximately $US600,000 (RMB 4 million) to the relevant local PRC authorities. We have confirmed with the local authorities that the payment of the taxes and fees is the only outstanding requirement before the issuance of the new certificates for the Premises. Despite Kingtone Information’s efforts to compel the seller to pay such taxes and fees, it has not done so.

Further delays in such payment will likely delay the consummation of the title transfer which could also delay our possession of the Premises. Furthermore, until the title transfer is completed, there exists a risk that the Premises could be subjected to competing third-party claims, liens or encumbrances, which could adversely affect the completion of the transfer process. As of the date of this Prospectus, we have no knowledge of any pending or threatened third-party claims or encumbrances relating to the Premises. If the title transfer is further delayed due to the seller’s failure to make the outstanding payment, we may be forced to pay the outstanding amount on seller’s behalf in order to complete the title transfer and take possession of the Premises. In such event, we may consider pursuing a claim for money damages against the seller, although there can be no assurance of a successful recovery.