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Takung Art Co. Ltd. (TKAT)

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Last Post: 4/5/2017 4:56:30 PM - Followers: 8 - Board type: Free - Posts Today: 0



Takung Art Co., Ltd.

www.TakungArt.com

 

OVERVIEW

Based in Hong Kong, Takung Art Company Ltd. provides a secure and easy way for art collectors and investors to acquire shared ownership in Asian and other fine art - including paintings, calligraphies, jewelry and precious gems - and participate in the booming international art market without fear of price manipulation and forgery.

The ability to trade these valuable assets on Takung's proprietary online trading platform has attracted a significant number of fine art investors - including many ordinary people without substantial financial resources. This novel platform significantly expands the number of interactions between sellers and buyers of fine art far beyond those generated by art galleries and auction houses alone.

For providing this unique service, Takung Art Company earns multiple streams of revenue, including listing fees, trading commissions, management fees and authorized agent fees.

Takung's business model is to continually add to its fine art listings by offering collectors units in carefully selected items. First, an artwork - either an individual piece or portfolio of several pieces - is presented to Takung by an authorized agent, who helps get the artwork professionally appraised. After making its own assessment, if Takung believes it is clearly marketable and will likely appreciate near-term, the company will - after receiving all offering documents - list the artwork on its site and divide it into equal ownership units based on its appraised value. For this listing the artwork's owner or the offering agent pay Takung a one-time offering fee of 22.5 to 48 percent of the artwork's offering price and a refundable listing deposit of roughly 20 percent of the offering price. In addition, Takung charges trading commissions for the online purchase and sale of artwork units, as well as management fees covering the insurance, storage, and transportation for artwork.

Traders utilize the Takung platform through a client app available for download from the company's commercial website. Currently, most of our traders are located in mainland China. To expand our number of traders, Takung has employed various online promotion strategies and also entered into an agreement with an arts marketing agency that has a broad network of both amateur and professional art traders and dealers. In July 2016, the company initiated its first major expansion of operations outside of China when it introduced the trading platform to residents of Russia, Mongolia, Australia and New Zealand.

As of September 30, 2016, Takung had 157 art listings trading on it's platform, with an aggregate initial listing value of US$38.61 million. Most of the listed pieces and portfolios have traded actively and shown significant appreciation since their introduction on the site. The purchase and sale of ownership units of Takung’s artwork generated a total transaction value of US$4.91 billion during the first nine months of calendar/fiscal 2016 versus US$1.28 billion transacted in the comparable year-ago period.

Each of our artwork listings will remain intact for ten years, after which it will be sold and the proceeds paid to the unit holders.

Takung was incorporated in late 2012 and went public in October 2014.
 

MANAGEMENT TEAM

DI XIAO

Chairman and Chief Executive Officer

Mr. Xiao has been in the art investment and consulting industry since 2008 and is familiar with all forms of art dealings as well as trading models and risks in the Chinese art market. He joined Takung Art Company to serve as CEO in January 2013.

From March 2009 to January 2013, Mr. Xiao served as a general manager at Hangzhou LuxTimes Culture and Art Co., Ltd. in China. From December 2008 to March 2009, he worked as a director of FAI Electronics Co., Ltd. and focused on marketing development. Mr. Xiao graduated in July 1998 from the University of Tianjin in China with a bachelor’s degree in mechanical engineering.

CHUN HIN LESLIE CHOW

Chief Financial Officer

Mr. Chow has extensive experience in accounting and the finance industry. Most recently, he served as non-executive director for two Hong Kong stock exchange-listed companies, PPS International (Holdings) Limited and Golden Power Group Holdings Limited. From 2009 through 2015, he held ascending positions culminating in managing director and partner at Albeck Financial Services, a financial consulting firm in Houston, Texas. For the previous three and a half years, he worked with Deloitte & Touche LLP, last serving as a senior auditor. Mr. Chow graduated with honors from the University of California, Santa Barbara, and is a certified public accountant in the United States.

ZISHEN LI

General Manager, Takung (Shanghai) Co., Ltd.

Mr. Li has worked in the Chinese art industry since 2009 and has extensive knowledge of storage, appraisal and other procedures related to the trading and management of artworks. He joined Takung on March 1, 2015 as a vice president of Hong Kong Takung responsible for the listing process, and on July 28 was appointed general manager of Shanghai Takung.

From 2009 to 2014, Mr. Li served as the assistant general manager of Tianjin Culture and Artwork Exchange Co., Ltd. From 2006 to 2008, he was engaged in customer service related work at WuXi AppTec (NYSE:WX). Mr. Li graduated in 2006 from Zhejiang University of Technology with a bachelor of science degree, and completed postgraduate studies in industrial economics at Nankai University in 2013.

XU ZHENG

Vice President of Information Technology

Mr. Zheng has over five years software project management experience, including such platforms such as JAVA & C language development, spring MVC2.0, spring MVC3.0, IBATIS, and Velocity. He also has eight years experience working under a UNIX & LINUX environment, focusing on AIX and SUSE systems. From 2008 to 2010, Mr. Zheng worked as a project manager of software engineering at Beijing Qiantang Hengsheng Science & Technology Co., Ltd., with a focus in maintaining and developing banking systems. For the previous two years he worked as a software engineer in Tianjin City Card Co., Ltd., involved in business development and implementation of clearing center and system processes. In 2006, Mr. Zheng graduated from Tianjin Polytechnic University in China with a Bachelor degree of Computer Science and Technology, and in 2012 was awarded a Master degree of business administration from Tianjin University in China.


http://twitter.com/TakungArt

https://www.youtube.com/channel/UCOjkM_SEAeGoN9KQhgJBDeA



 
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#358   Added TKAT here @ 6.91 Average 7.04 cashbyers 04/05/17 04:56:30 PM
#357   In TKAT here @ 7.40 cashbyers 04/04/17 03:32:09 PM
#355   Looks like investors took the increase in S&GA cashbyers 04/01/17 02:10:46 PM
#354   Let's build wealth man! This was the pullback cashbyers 03/30/17 10:53:36 PM
#353   We have already interacted on Twitter and follow RamsnastyMcBickle 03/30/17 10:50:55 PM
#352   Right man looking to start a position here cashbyers 03/30/17 10:49:59 PM
#351   That advice was golden. RamsnastyMcBickle 03/30/17 10:45:29 PM
#350   Takung to Announce 2016 Financial Results March 29 r2g2 03/29/17 01:44:22 PM
#349   Ringing the opening Bell.... r2g2 03/29/17 01:39:03 PM
#348   I believe that is sound advice. Thanks RamsnastyMcBickle 03/24/17 12:00:28 PM
#347   I think it will go a little lower cashbyers 03/24/17 11:32:21 AM
#346   With the pull back TKAT is in do RamsnastyMcBickle 03/24/17 08:11:28 AM
#345   TKAT moved to NYSE AMEX from the OTC Renee 03/22/17 08:46:57 AM
#344   Trading will commence on the NYSE Mar 22 undtrdr 03/20/17 10:23:58 AM
#343   Uplist registration just filed! Might be buying back in cashbyers 03/17/17 12:29:03 PM
#342   New article in Seeking Alpha on TKAT. How RamsnastyMcBickle 03/15/17 04:34:22 PM
#341   PR HONG KONG, CHINA / ACCESSWIRE r2g2 03/09/17 02:39:15 PM
#340   You would think so. I believe that soon RamsnastyMcBickle 03/07/17 12:58:12 PM
#339   Maybe a few more eyes on this now! r2g2 03/06/17 04:08:51 PM
#338   Starting to look like a piece of fine art. r2g2 03/06/17 03:47:57 PM
#337   So, now we are over $8.00 PPS, RamsnastyMcBickle 02/27/17 03:12:12 PM
#336   The secret can't stay secret forever... Get ready.. r2g2 02/21/17 05:45:00 PM
#335   $TKAT still holding, expect more positive new soon, RamsnastyMcBickle 02/18/17 11:11:33 AM
#334   After the numbers today I am holding long RamsnastyMcBickle 02/08/17 05:09:27 PM
#333   I know! What's the deal? r2g2 01/26/17 06:59:19 PM
#332   There are so many reasons that TKAT is RamsnastyMcBickle 01/25/17 02:53:27 PM
#331   TKAT UNDERVALUED. cashbyers 01/12/17 11:57:25 AM
#330   Added more TKAT here @ 7.10 testing 50daySMA. cashbyers 01/12/17 11:35:42 AM
#329   To see TKAT consistently trade in the $7 RamsnastyMcBickle 01/10/17 11:20:03 AM
#328   I believe the best is yet to come here. r2g2 01/09/17 05:07:06 PM
#327   as TKAT continues to inch upward in PPS RamsnastyMcBickle 01/03/17 03:44:26 PM
#326   Thanks for the contact info. Zexcaliber 12/15/16 02:26:12 AM
#325   It is only my opinion, however with their RamsnastyMcBickle 12/14/16 10:30:24 AM
#324   American Bulls thank you so much ... Zexcaliber 12/13/16 09:30:31 PM
#323   Looking at the chart and seeing the parallel RamsnastyMcBickle 12/13/16 09:40:57 AM
#322   In the past three weeks TKAT has climbed RamsnastyMcBickle 12/07/16 03:47:27 PM
#321   I love the way the stock is acting RamsnastyMcBickle 11/21/16 02:33:25 PM
#320   Must know information about Takung RamsnastyMcBickle 11/16/16 08:48:46 AM
#319   I don't...but the numbers are very compelling. RamsnastyMcBickle 11/15/16 09:46:41 AM
#318   On a good day... ;-) Cbdpotential 11/14/16 01:28:08 PM
#317   The market is 10% logic 90% emotion Cbdpotential 11/14/16 01:27:38 PM
#316   If the market were at all logical this r2g2 11/12/16 03:33:14 PM
#315   I would have to say so, your the RamsnastyMcBickle 11/12/16 09:56:36 AM
#314   Its almost a well-kept secret r2g2 11/11/16 06:16:19 PM
#313   Net Income up 114% Revenue up 112% RamsnastyMcBickle 11/11/16 03:59:27 PM
#312   TKAT LATEST 10-Q! Huge quarter $$$ cashbyers 11/10/16 04:47:20 PM
#311   Takung Reports Trading Transactions of $1.1 Billion for RamsnastyMcBickle 11/07/16 08:33:54 AM
#310   Yupppp!! Buying more on this slight pullback cashbyers 10/29/16 07:42:11 PM
#309   Every day is another day closer to meeting RamsnastyMcBickle 10/28/16 01:40:32 PM
#308   TKAT should be on your watchlist RamsnastyMcBickle 10/24/16 02:33:10 PM
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