- The stock price of Luokung Technology Corp. (NASDAQ: LKCO) increased by over 15% during intraday trading. This is why it happened.
The stock price of Luokung Technology Corp. (NASDAQ: LKCO) – a leading Spatial-Temporal intelligent big data services company and provider of interactive location-based services and HD Maps in China – increased by over 15% during intraday trading. Investors are responding positively to Luokung Technology announcing that its wholly owned subsidiary eMapgo Technologies (Beijing) Co., Ltd., a leading provider of navigation and electronic map services in China, has entered into a contract to deliver a new generation traffic control network and smart highway demonstration project for the Changjiu Expressway in the Jiangxi Province of China.
As part of the deal, EMG will be responsible for the development and implementation of a 3D real-life highway digital management system for the new generation smart highway demonstration project for the Changjiu Expressway. And a digital management system will provide real-time road information and intelligent operation management to support the latest smart transportation like lane navigation, autonomous driving, road coordination and vehicle-road collaboration (“V2X”), while increasing safety and decreasing congestion for improved road maintenance and management.
Luokung’s smart transportation business includes both car-terminal service and road-terminal service along with providing autopilot HD Map data services for car manufacturers and developing smart road digital services.
KEY QUOTE:
“We are excited about EMG’s selection as the provider for this innovative smart highway project in Jiangxi, which we believe is a testament to our leading position in Spatial-Temporal data processing technology and high-precision map data service capabilities. This is a new generation traffic control network and smart highway demonstration project, and Changjiu Expressway would be China’s first highway that is based on this new intelligent management system, which supports road coordination and a V2X operating system. We are confident that EMG’s work on this project will have a positive impact on the Company’s future business prospects in smart transportation.”
— Xuesong Song, Chairman and CEO
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
