Luokung Technology Corp. (NASDAQ: LKCO) was founded in 2001, formerly known as Kingtone Wirelessinfo Solution Holding Ltd. (formerly NASDAQ: KONE), and formerly known as Reizii Capital Management Limited, in 2009 It was changed to Xi’an United Information Technology in December, 2018. It was changed to its current name on August 20, 2018. Headquartered in Xi’an, Shanxi Province, China, it is a time and space recording APP provider and a big data technology service provider. The core business brands are “Luokung” and “Super Engine”. “Luokung” is used for mobile Internet B2C business, and “Super Engine” is used for spatiotemporal big data B2B and B2G business.
Luokung Technology Corp. (LKCO):
Luokung Technology is a leading long-distance travel mobile service and technical service provider in China, as well as a pioneer and leader in the domestic railway Wi-Fi market. Luokung Technology’s core mobile application product, Luokung Platform, is a content and service distribution platform with geographic social attributes. Luokung provides users with personalized and accurate services in two application scenarios, typical on-the-go and destinations during long-distance travel.
During the journey, Luokung mainly meets the two core demands of travelers, including visiting Luokung online entertainment on the train and exploring new destinations. The main services are entertainment services (audio and video, e-books, games, information, etc. for on-the-go scene services) and social services (user and location interaction based on geographic location, interaction between users and users, light social services, to solve the needs of users for destination value discovery ). Luokung relies on typical long-distance travel entrances to acquire travel users. By deploying Wi-Fi systems in trains and providing passengers with free Wi-Fi access services, Luokung has continuously acquired long-distance travel users.
As of December 31, 2017, Luokung platform has been deployed and operated on approximately 290 trains, covering approximately 200 million tourists each year. As of the end of 2017, the number of users on the Luokang platform was approximately 38 million. (PR Newswire)
Luokung Technology Corp. (LKCO) history:
- In August 2000, the company’s self-developed AOCIS2000 aviation fuel supply and storage management and control integrated system was appraised by the scientific and technological achievement appraisal group, and the system was in a leading position in China and reached the international advanced level;
- In 2001, the predecessor of United Information “Xi’an Dingtian Intelligent Technology Co., Ltd.” was established;
- In 2002, the company was recognized as a high-tech enterprise by Xi’an Science and Technology Commission;
- In 2004, the company established the company strategy and market positioning of “professional on-site and remote information management technology application development and service provider for the 3G era” on the basis of the existing research and development results of numerous independent intellectual property rights;
- In 2005, the company made a major breakthrough in the field of mobile office and wireless information publishing, providing comprehensive mobile office solutions for sales companies of large petroleum and petrochemical companies;
- In 2006, the company incorporated leading wireless audio and video, information interaction technology and positioning technology into the actual needs of government wireless emergency command, and successfully developed and implemented the wireless emergency command platform of the Beijing Emergency Command Center;
- In 2007, the “Wireless Emergency Command System” independently developed and implemented by the company won the “World’s Best Public Service Application Award” in the US Global BREW2007 Developer Awards;
- In 2008, the company’s research and development of the wireless emergency command platform played a key role in the city operation guarantee and emergency response during the Beijing Olympic Games, and received a letter of thanks from the Beijing Municipal Public Emergency Response Committee;
- In 2009, the company was awarded the “Best New Enterprise of China Venture Capital Value List”;
- In 2010, United Information successfully landed on the NASDAQ Stock Exchange (NASDAQ) with the stock trading code KONE;
- In 2011, the wireless emergency information system won the “China Emergency Management Information Product Innovation Award” issued by the China Information Association;
- In June 2012, the mobile police communication system and mobile emergency system independently developed by United Information won the “Gold Award” and “Innovation Award” at the 16th China International Software Expo;
- On August 22, 2018, Xi’an United Information announced that the asset replacement transaction agreement signed with China Transmission Group on January 25, 2018 has been completed, and the company has been renamed Luokung Technology Co., Ltd., which will take effect on August 20, 2018. According to the agreement, the company agreed to purchase all the shares and equity of LK Technology Ltd., as well as its wholly-owned subsidiaries – MMB Limited and Mobile Media (China) Limited and all subsidiaries of China Transmission. The consideration is (i) 185,412,599 company ordinary Shares with a par value of US$0.01 each, (ii) 1,000,000 preferred shares of the company and (iii) all issued and tradable shares issued by the company’s subsidiary, Topsky Info-Tech Holdings Pte Ltd., through agreements and variable interests A wholly-owned subsidiary controlled by an entity—all entities actually controlled by Xi’an Softech Co., Ltd.. The transaction was completed on August 17, 2018. After the transaction is completed, through its wholly-owned subsidiary LK Technology Ltd. (“LK Technology”), the company will have the right to install Wi-Fi systems on approximately 700 trains in China, including 290 vehicles that have already installed and used Wi-Fi systems. Fi system train. The company will own all LK’s core mobile application systems, as well as Luokung online entertainment and social platforms (“Luokung Platform”). Including application software, a series of server support software, and Wi-Fi hardware and equipment on the train. Luokung platform has 5 patents and about 10 software copyrights. It is a content and service distribution platform with geographic social attributes based on travel scenarios, including information, entertainment, travel, e-commerce, OTO, advertising and marketing and other ecosystems. (PR Newswire)
Luokung Technology Corp. (LKCO) investment:
On May 14, 2010, Xi’an United Information issued a IPO price of US$4 per share on Nasdaq, offering a total of 4 million American Depositary Shares (ADSs) (1ADS=1 common stock), raising US$16 million.