Takung Art Co., Ltd Announces Management Update

Rhea-AI Summary

Takung Art Co., Ltd (NYSE American: TKAT) announces the appointment of Mr. Kuangtao Wang as Co-Chief Executive Officer to enhance its strategies in Non-Fungible Token (NFT) businesses. Mr. Wang brings extensive experience from his previous roles in art auctions and NFT platform development. The company aims to solidify its position in the digital goods market with Mr. Wang's leadership. Takung operates fine art and collectibles platforms, enabling investment opportunities for China’s middle class.

Positive

• Appointment of Mr. Kuangtao Wang as Co-CEO to lead NFT strategy.
• Mr. Wang has significant experience in the art and NFT industry, enhancing company expertise.

Negative

• None.

HONG KONG, CHINA, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Takung Art Co., Ltd (NYSE American: TKAT) (“Takung” “TKAT” or the “Company”), an operator of three online fine art and collectibles platforms, today announced the appointment of Mr. Kuangtao Wang as Co-Chief Executive Officer (Co-CEO) to help develop and guide the Company’s strategies in Non-Fungible Token (NFT) related businesses.

As a General Manager for Yongbao Culture and Media Co. Ltd. since 2007, Mr. Wang is a seasoned industry veteran with a deep understanding and practical experience in the business of art auctions and exchanges. At Yongbao, Mr. Wang built an offline art exchange platform for the company’s art business. Following that, in 2020, Mr. Wang joined Wuwei Tongju Digital Technology (Hangzhou) Co. Ltd. as CEO where he was responsible for managing technical resources, infrastructure setup, and architectural design. With his in-depth analysis and industry insight from his experience working with the development of Alipay’s ant chain, Youbanquan, Tencent Huanhe, and other NFT platforms, Mr. Wang brings years of extensive experience ready to be applied to the Company’s expansion into NFTs.

“We are delighted to welcome Mr. Wang to our executive team; appointment of him will drive our expansion in the NFT sector. He brings a diverse, yet applicable, set of skills and a rich of track record of building innovative digital platforms, which is essential in solidifying Takung’s position in the highly profitable marketplace of digital goods and currency,” said Mr. Kwok Leung Li, Chief Executive Officer of Takung.

Mr. Wang stated, “It is a great honor to be taking on the role of Co-CEO at Takung. The company’s leading electronic online platform coupled with new blockchain and NFT initiatives and importantly, the outstanding executive Team, position us well for a bright future as we execute on our growth strategy.”

About Takung Art Co., Ltd

Takung Art Co., Ltd enables China's growing middle class to invest in fine art and collectibles through three proprietary online platforms: Takung Unit, which facilitates trading and shared ownership of Asian and international fine art; Unit+, which facilitates trading and shared ownership of Asian and international collectibles; and Takung Online, an e-commerce platform enabling artists to promote and sell entire pieces of artwork directly to buyers. Takung is headquartered in Hong Kong and operates primarily in Hong Kong through its direct wholly-owned subsidiary Hong Kong Takung Art Company Limited 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. For more information, please visit the Company's website: http://ir.takungart.com/  The Company routinely posts important information on its website.

Forward-Looking Statements

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 which reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and are subject to change at any time. We operate in a very competitive and rapidly changing environment where new risks may 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.

Contact:

Takung Art Co., Ltd

King Chan
Phone: +85239035788
Email: irmail@takungae.com

FAQ

Who is the new Co-CEO of Takung Art Co., Ltd (TKAT)?

Mr. Kuangtao Wang has been appointed as Co-CEO.

What is Takung's focus after the appointment of the new Co-CEO?

The company aims to develop strategies in the Non-Fungible Token (NFT) sector.

What experience does Mr. Kuangtao Wang bring to Takung (TKAT)?

He has extensive experience in art auctions and NFT platform development.

How does Takung Art Co., Ltd (TKAT) plan to expand its market presence?

By leveraging Mr. Wang's expertise to enhance its NFT-related business strategies.