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Takung Art Co. Ltd. (TKAT)

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Last Post: 12/17/2020 6:07:19 PM - Followers: 8 - Board type: Free - Posts Today: 0

Takung Art Co., Ltd.




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.



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.


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.


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.


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.



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#388   * * $TKAT Video Chart 12-17-2020 * * ClayTrader 12/17/20 06:07:19 PM
#387   $TKAT is flying on an $OCG sympathy run. https://cnafinance.com/tkat-stock-heres AlphaStockNews 12/17/20 09:24:22 AM
#386   Are we going to move or what INFINITI 07/29/20 11:54:07 AM
#385   Looks mighty juicy got in $$$ INFINITI 07/29/20 10:46:20 AM
#384   Stock only has a 700K Float. kingmack 10/31/19 04:02:57 PM
#383   It's halted again. Must be buyout News coming kingmack 10/31/19 03:21:49 PM
#382   Spike at the open, Halted to stop it, kingmack 10/31/19 02:53:02 PM
#381   Something Huge going on here! Need to buy kingmack 10/31/19 02:48:28 PM
#380   $TKAT Interesting,Spike>HALT>BuyTriggers>Sporadic buys here and there now T1aris 10/31/19 02:08:33 PM
#379   $TKAT HEADS UP! SUDDEN_VOLUME_SURGE_AND_UPTICKS! T1aris 10/31/19 12:54:27 PM
#378   https://twitter.com/LongerThanMost/status/1052574192913305600 Longer Than Most 10/17/18 11:20:34 AM
#377   $TKAT squeezing hard Longer Than Most 10/17/18 11:04:44 AM
#376   TKAT has ZERO pr and is n0t going SmallCapStockAlert 07/23/18 10:29:58 PM
#375   Wow TKAT very cheap now vs last year. BERKSHIRE AGENT 06/29/18 05:44:03 PM
#374   Asian low floaters on fire. TKAT due for BERKSHIRE AGENT 06/29/18 05:06:01 PM
#373   $TKAT took 1.30 for lotto seems thin and tripil7z 06/28/18 01:58:27 PM
#372   TKAT 2.36$ Record Volume Breakout Watch ~> stock1ace1 05/31/18 09:53:00 AM
#371   I believe the 400,000 shares were owned by RamsnastyMcBickle 10/27/17 06:20:19 PM
#370   No I didn’t foresee Market makers manipulating cashbyers 10/27/17 06:14:27 PM
#369   I bet you didn't call it would go RamsnastyMcBickle 10/27/17 06:10:23 PM
#368   I didn't know they were diluted. Whats the RamsnastyMcBickle 10/27/17 06:09:37 PM
#367   Called this cashbyers 10/13/17 07:19:19 AM
#366   TKAT management needs to do a Share Repurchase here cashbyers 07/22/17 12:46:51 AM
#365   Not halted just no volume.. I have been cashbyers 07/22/17 12:02:22 AM
#364   trading is halted for some reason... anyone know why? r2g2 07/21/17 12:34:02 PM
#363   I got a 1.7k stake @ 4.22 average... cashbyers 07/20/17 11:58:53 PM
#362   What's the scoop on this stock? Why the drop? EDobbs40 07/14/17 04:24:45 PM
#361   Back in TKAT @ 5.15 cashbyers 06/23/17 08:35:57 PM
#360   Marcum Presentation. Roland Rick Perry 06/16/17 07:03:11 PM
#359   Should have took profit on the +18% head cashbyers 05/17/17 10:33:34 PM
#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
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