Takung Art Company Announces Strategic Cooperation Agreement with Huangshan Arts Association
HONG KONG, CHINA / ACCESSWIRE / July 31, 2017 / Takung Art Co., Ltd. (NYSE American: TKAT) ("Takung"), 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 the Company, through its direct wholly-owned subsidiary HongKong Takung Assets and Equity of Artworks Exchange Co. Ltd., has entered into a strategic cooperation agreement with Huangshan Arts Association (the "Association"), a 200-member association that promotes the appreciation and understanding of traditional Hui culture artworks, including carvings, lacquerware, wickerwork, and the Wan'an compass. The Association is based in Huangshan City, China, where the United Nations Educational, Scientific and Cultural Organization ("UNESCO") has identified two traditional Hui culture villages as World Heritage sites for their preservation of traditional Hui art, technology, and customs.
Under the terms of the agreement, which was signed on July 16, 2017, the Association will recommend, appraise, and value artworks to be listed on Takung's unit trading platform and provide resources and support for road shows and exhibits. The works, in turn, will gain a greater audience by participating in Takung's listing process, during which portfolios are marketed and promoted through road shows and exhibitions.
Mr. Mike Xiao, Chairman and CEO of Takung, commented, "We are pleased with this opportunity to work with the Huangshan Arts Association to bring its extensive collection of traditional Hui culture carvings to our platform and the world stage. By combining our resources and knowledge, our partnership will strengthen Takung's standing as a leading and trusted provider of high quality artwork and fine arts while enabling our current 110,000 traders to invest in their rich cultural heritage. We look forward to further deepening our penetration into the arts market and educating the public about the Hui culture with the Association."
"This collaboration is part of Takung's larger efforts to bring more diversified artwork to the Takung unit trading platform through partnerships with leaders in the art industry. Along with the previously announced "A" tier portfolio category, Takung's partnerships aim to attract new traders, increase trading liquidity, and improve the company's top and bottom lines," Mr. Xiao concluded.
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.
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 July 31, 2017