Takung Introduces New Asset Class and Signs Partnership Agreements at Suzhou Event
HONG KONG, CHINA / ACCESSWIRE / August 23, 2017 / Takung Art Co., Ltd. (NYSE American: TKAT) ("Takung" or the "Company"), an online trading platform that facilitates art collectors and art-interested investors to obtain and trade shared ownership units in Asian and international fine arts, today announced that it has, through its subsidiaries, signed a strategic cooperation agreement with the PNH Group to source official limited edition collectable items from top-tier European football clubs at an event in Suzhou, China, on Saturday, August 12, 2017. The Company also signed multiple partnership agreements with a number of art management, investment management, and technology organizations at the event.
Mr. Di Xiao, Chairman and CEO of Takung, commented, "We are enthusiastic about our partnership with the PNH Group, a leading producer of official products for major European football brands. As the Chinese middle class grows and the commercialization of sports deepens, we believe there is a great opportunity for our traders to invest in and profit from the growing Chinese interest in sports memorabilia while having the opportunity to take part in collecting items themselves.
"With the help of the PNH Group, we believe we will be able to provide portfolios of authentic limited-edition products from the big four European leagues that will be attractive not only to Chinese fans but to fans throughout Asia. This new asset group complements our core art asset group and will further strengthen Takung's reputation of providing high-quality investment pieces, setting the stage for more prestigious partnerships and offerings in the future."
PNH Group Executive Director Alex Wong added, "We are pleased with this opportunity to work with Takung. The unique ability of Takung's robust platform to trade unit ownership of a portfolio of products allows us to broaden our customer base and reach more football fans in China. Takung's growing ability to provide authentic high-quality artworks for trading convinced us that they were the right partners for this venture."
The majority of the other partnership agreements that were signed formalized existing service organization relationships that provide services including introducing new traders to Takung's platform, enforcing user compliance with platform rules, providing operational support for new account opening, and training traders on platform use.
"These partnership agreements are part of Takung's broader strategy to strengthen our platform. Our service organizations are valuable business partners who bring us critical expert advice and support that result in increasing the number of new traders on our platform. These new traders deliver higher liquidity to our platform that is beneficial to all traders and Takung's top line," concluded Mr. Xiao.
About Takung Art Co., Ltd.
Takung Art Co., Ltd. operates a unique, proprietary online trading platform which facilitates art collectors and art-interested investors to gain and trade shared ownerships in Asian and international fine arts. Takung is headquartered in Hong Kong and operates primarily in Hong Kong through our direct wholly-owned subsidiary HongKong Takung Assets and Equity of Artworks Exchange Co. Ltd. and its two wholly-owned subsidiaries in Shanghai and Tianjin that facilitate service and support to its PRC-based traders on the Company's platform. The Company's online trading platform which converts the ownership of artworks into ownership units, enables China's growing middle class to invest in fine art as an investment opportunity. For more information, please visit the Company's website: http://ir.takungart.com/. The Company routinely posts important information on its website.
About PNH Group
Based in Hong Kong, PNH Group is a football specialist and an industry leader in manufacturing, sourcing and the provision of e-commerce solutions for major European football clubs through its PNH Limited, EZshopnet, EZFootball, and PNH Transfer Print businesses. PNH Limited is one of Asia's leading sportswear manufacturers specializing in football replica kits; EZshopnet is a pioneer in the football merchandise e-commerce business in the Asia Pacific region; EZfootball provides replica kits, training apparel and equipment directly to football fans in the Asia Pacific region; and PNH Transfer Print is a global provider of cutting edge head transfer applications for football and brands. For more information, please visit PNH Group's website: http://www.pnh.com.hk/.
This press release may contain projections or other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
Takung Art Co., Ltd.
Mr. Leslie Chow
Phone: +852 31580977
SOURCE: Takung Art Co., Ltd.
Released August 23, 2017