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Takung Art Co Ltd (NYSE AMERICAN:TKAT)

Summary

Takung Art Co., Ltd. is a NYSE AMERICAN listed art and culture investment platform based in Hong Kong. The company provides a secure and easy way for art collectors and investors to acquire shared ownership in Asian and other fine art without fear of price manipulation and forgery.

Market Overview

$1.030 (14.440%)
Vol 8,350.00
10 Days Avg Vol 0.00
3 Mo Avg Vol 19,400.93
52 Wk Lo/Hi $0.680 - $5.050
YTD Price Gain % -58.97%
12 Wks Moving Avg 1.389166
200 Days Moving Avg 1.865304
Market Cap 11,562,805

Updated: Market Close, 09/25/2018

Company Background

Based in Hong Kong, Takung Art Company Ltd. (NYSE AMERICAN : TKAT) provides collectors and investors with a safe and liquid online platform to learn about, invest in, and buy and sell fine art, including paintings, calligraphies, jewelry and precious gems as well as sports memorabilia and other collectables. Through breaking down pieces of artwork into fractional ownership, the Company aims to democratize the art market and make art investment more affordable to general public. Takung Art Since its inception in 2012, the Company has been focused on marketing its platform to China’s growing middle class, which, despite its increased wealth, still had limited access to that nation’s world-leading fine art market. Through Takung, however, this group – now comprising 200 million people and expected to reach 550 million by 2024 – can easily and safely invest in fine art and valuable collectables. At the same time, the platform offers artists an alternative venue in which to sell their art and gain widespread recognition.

Highlights

  • Attractive valuation based on near & long-term growth characteristics
  • Sports Memorabilia and Collectibles verticals offer significant revenue boost in 2018 and beyond
  • Earnings leverage on par with e-commerce sector
  • High gross profit
  • Strong balance sheet can finance future growth
  • Prominent research firms begin coverage in Q1 2018
  • EV / Sales ratio of 0.8 compare to Art average 3.1 (Source: Edison Investment Research)
  • The only listed company in artwork-frictional ownership business with few competitors

Share Structure

As of  April 2, 2018
Shares Issued 11,208,882
Options outstanding 418,760
Fully Diluted 11,627,642

Other Information

Takung Art Co., Ltd. enables China's growing middle class to invest in fine art and collectibles through three proprietary online platforms:
  1. Takung Unit: facilitates trading and shared ownership of Asian and international fine art.
  2. Unit+: facilitates trading and shared ownership of collectibles and sports memorabilia.
  3. Takung Online: an e-commerce platform enabling artists to promote and sell entire pieces of artwork directly to buyers.
Takung Art Co., Ltd. generates revenue from our services in connection with the offering and trading of artwork on our system. The revenue mainly falls into three broad categories:
  1. Listing fees: charge on a percentage of the artworks’ listing value.
  2. Trading commissions: charge based on a percentage of transaction value of artworks or a predetermined monthly fee.
  3. Management fees: fees to cover the costs of insurance, storage, and transportation for an artwork and trading management of artwork units, which is charged based on the holding period of the units.

Management Profiles

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 and has been engaging in such profession for over 12 years. 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. During his time at Albeck, Mr. Chow was mainly responsible for providing advisory services for listing on the US capital market. 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.

Mr. Chow has been an independent non-executive Director of Golden Power Group Holdings Limited, a company listed on the Hong Kong Stock Exchange, since June 2015. Mr. Chow has also been an independent non-executive Director of PPS International (Holdings) Limited, a company listed on the Hong Kong Stock Exchange, since September 2015.

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 at an art related ecommerce company. 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.

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