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Takung Art Co. Ltd. (TKAT)

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Last Post: 12/7/2016 3:47:28 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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News News Alert: Current Report Filing (8-k) 12/09/2016 03:51:10 PM
PostSubject
#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 $$$ cashbyers 11/10/16 04:47:20 PM
#311   Takung Reports Trading Transactions of $1.1 Billion for RamsnastyMcBickle 11/07/16 08:33:54 AM
#310   Yupppp!! Buying more on this slight pullback cashbyers 10/29/16 07:42:11 PM
#309   Every day is another day closer to meeting RamsnastyMcBickle 10/28/16 01:40:32 PM
#308   TKAT should be on your watchlist RamsnastyMcBickle 10/24/16 02:33:10 PM
#307   I wonder at what point investors and traders RamsnastyMcBickle 10/20/16 11:38:00 AM
#306   Still slowly creeping up little by little. It RamsnastyMcBickle 10/20/16 11:18:15 AM
#305   I agree, the slow PPS growth & lack cashbyers 10/14/16 03:46:52 PM
#304   It is frustrating to see the low volume RamsnastyMcBickle 10/14/16 03:43:27 PM
#303   Here are my favorite quotes from the report! cashbyers 10/13/16 11:04:54 AM
#302   Check out this new report by Price Target Media[/ RamsnastyMcBickle 10/11/16 03:30:14 PM
#301   TAKUNG’S TRADING TRANSACTIONS $1.24 BILLION FOR SEPTEMBER[/co RamsnastyMcBickle 10/06/16 08:37:08 AM
#300   Yessir !! cashbyers 10/05/16 10:43:41 PM
#299   This quote from TKAT CEO Di XIAO is RamsnastyMcBickle 10/04/16 11:08:04 PM
#298   Conference call review is a must for due diligence [/i RamsnastyMcBickle 10/04/16 10:58:15 PM
#297   Takung processed transactions totaling US$936.33 million in the RamsnastyMcBickle 10/04/16 10:50:58 PM
#296   What numbers! RamsnastyMcBickle 10/04/16 10:45:47 PM
#295   TKAT latest conference call $$$$ cashbyers 10/03/16 05:42:25 PM
#294   TKAT huge retained earnings on latest financials! cashbyers 08/19/16 06:29:37 PM
#293   TKAT Chiscam for scenesters. protagonist12 08/03/16 07:04:16 AM
#292   TKAT increases liabilities/leverage by 1.5 million with 8% cashbyers 07/22/16 04:57:52 PM
#291   Cash's Fundamental Analysis: cashbyers 07/22/16 04:53:19 PM
#290   Cash's Technical Analysis: cashbyers 07/22/16 04:41:05 PM
#289   Board of director changes to meet NASDAQ uplist! cashbyers 07/22/16 04:31:36 PM
#288   TKAT Chitrash- wei tu hai. protagonist12 04/25/16 06:03:01 PM
#287   up again on light volume i really like BIGUPS 04/25/16 02:06:06 PM
#286   This is a really nice company one of BIGUPS 04/19/16 08:42:38 PM
#285   Just found this. Probably will get in this r2g2 04/10/16 02:32:20 PM
#284   Duediligence on TKAT is amazing! quarter after quarter RamsnastyMcBickle 03/29/16 02:15:23 PM
#283   Reuters interviewed TKAT in China after seeing numbers RamsnastyMcBickle 03/29/16 02:11:13 PM
#282   TKAT one for 25 reverse split: Renee 08/20/15 04:25:50 PM
#281   This gonna be HUGE once the dust settles!.. TKAT Liquid1974 12/21/14 09:06:17 AM
#280   Cardigant Medical Inc., CARD, changed to Takung Art Renee 11/11/14 05:21:45 PM
#279   NAME/SYMBOL CHANGE EFFECTIVE 11/12/14 zeekhoe 11/11/14 02:08:41 PM
#278   I hope for you it does. I have Herscu1 06/17/14 06:56:09 AM
#277   Could pop today on this news.. On high Liquid1974 06/16/14 07:52:07 AM
#276   Could there be movement at the station finally? Herscu1 05/21/14 10:33:55 AM
#275   wasting my time on TDA end. They are rebelgirl 03/05/08 04:50:49 PM
#274   you gals still btching to your brokers? Phoenix-Rising 03/05/08 04:49:17 PM
#273   Not that I can find. Strange situation. rebelgirl 03/05/08 04:48:30 PM
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