Takung 2016 Revenue Rises 69% to $19.1 Million; Net Income Up 17% to $6.4 Million, EPS $.60...

HONG KONG, CHINA / ACCESSWIRE / March 29, 2017 / Takung Art Co., Ltd. (NYSE MKT: TKAT), an online platform for acquiring shared ownership units in Asian and other fine art, jewelry, and precious gems, today reported revenue of $19,143,429 for calendar/fiscal 2016, a 69 percent increase on revenue of $11,335,941 in the prior year. The company reported net income of $6,370,694, or $.60 per share, for the year ended December 31, 2016, a 17 percent improvement on net income of $5,436,109, or $.57 per share, in calendar 2015. Weighted average basic number of common shares outstanding was 10,641,180 in 2016 and 9,601,034 in 2015. Weighted average diluted number of common shares outstanding was 11,309,190 in 2016, and 9,656,736 in 2015. The company’s strong improvement in revenue compared to 2015 was primarily due to a year-over-year increase of $6,080,174 in listing fee revenue arising from both a significant increase in the number of artworks listed on the company’s trading platform and the resulting increase in listing fees charged to artists and art owners. Takung’s 2016 revenue was also boosted by year-over-year increases of $1,646,435 in management fee revenue and $810,104 in authorized agent subscription revenue. The company’s 2016 revenue, however, was slightly impacted by a decrease of $728,825 in trading commission revenue compared to 2015. This decrease was primarily the result of the company’s new policy, enacted in April 2016, offering selected traders a fixed monthly commission fee covering all monthly trades and offering commission fee rebates to service organizations bringing new traders to Takung’s platform and encouraging them to trade. This policy was intended to help accelerate the number of traders utilizing the company’s platform in order to maximize its trading liquidity. Increased liquidity, in turn, helps the platform to attract significantly greater numbers of new art listings and permits Takung to receive correspondingly increased revenue from both listing fees and management fees. In 2016, for example, Takung had 132 new listings and combined listing and management fee revenue of $12,676,277, compared to 43 new listings and combined listing and management fee revenue of $4,949,668 in 2015. Going forward, these increased revenue streams, management believes, represent a far greater revenue opportunity than any incremental trading commission fees, which may have resulted from keeping the company’s original trading commission policy intact. In addition, said Takung, the maximizing of traders utilizing its platform will help the company to increase future revenue anticipated from the marketing to these traders of a series of new company products and services, some of which are scheduled for introduction later this year. Takung’s improved profitability for 2016 compared to the previous year was primarily due to the company’s aforementioned increases in listing fee, management fee and authorized agent subscription revenue, partially offset by a year-over-year increase of $4,046,110 in general and administrative expenses. These included increases of $2,190,331 in salaries resulting from adding 82 employees, $727,789 in office, insurance and rental expenses because of two newly rented offices in Tianjin and Hangzhou, $551,207 in stock-based compensation, $265,561 in legal and professional fees, and $264,402 in travelling expense. The company’s 2016 profitability was also impacted by a year-over-year increase of $1,688,160 in selling expenses, due to a more vigorous promotion and advertising campaign carried out during that year. As previously reported, Takung’s trading platform generated 2016 transactions of $9.37 billion, a 302 percent increase on the $2.33 billion transacted in 2015. “We are very proud of our 2016 results,” said Takung Chairman and CEO, Di Xiao....

CNIT Introduces Advanced IoT Elevator Safety Solution...

SHENZHEN, CHINA / ACCESSWIRE / March 28, 2017 / China Information Technology, Inc. (CNIT), a provider of cloud-app technologies for Internet-of-Things (IoT) platforms and internet-based ad and information distribution systems in China, today said it has introduced a sophisticated IoT elevator solution designed to significantly improve passenger safety. This solution, comprised of a CNIT elevator IoT cloud platform, IoT terminal and mobile app, “Yunti Guard,” provides a comprehensive three-in-one IoT and internet-based system that automatically delivers a wide selection of state-of-the-art safety features never available together in a single elevator maintenance product. The first component of this solution is a cloud-based intelligent management platform that allows multiple elevators in a common network to exchange real-time information and safety status with the centralized cloud platform. The platform automatically generates an elevator maintenance schedule, collects and stores elevator operation data, and notifies the appropriate property management or elevator service personnel when standard maintenance functions need to be performed as well as when any elevator emergency arises. The second component of the solution is a low-cost IoT terminal, “Cloud Box,” that can be easily installed inside the elevator. The Cloud Box, which requires no external power supply, allows the elevator to instantly communicate along a network and utilize the above mentioned features of the intelligent management platform. The Cloud Box can interact with the cloud-based platform and mobile app (described below) via bluetooth 4.0 technology, featuring an internal battery that lasts two to three years. Thirdly, the Yunti Guard mobile app permits remote real-time monitoring of an elevator’s operational condition and maintenance needs, and is compatible with both Apple IOS and Android devices. Used together, the three components of the elevator IoT solution can provide “unparalleled maintenance and safety protection for the great majority of China’s four million elevators,” said CNIT CEO and chairman, Mr. Jianghuai Lin. The CEO added that he believed the new solution would benefit from the current Chinese government emphasis on improving the safety of the nation’s elevators. “With our General Administration of Quality Supervision’s repeated demands for new and advanced systems to protect elevator passengers, we are optimistic that our elevator IoT solution will soon gain rapid acceptance in the market and begin producing meaningful revenue for CNIT.” The company’s marketing plan, he said, would establish a nationwide dealer network comprised of joint venture partners or franchisees who would act as elevator IoT operator and end user service representative in each local market. Using this strategy, said Mr. Lin, CNIT expects by the end of this year to sell the solution – including about 100,000 Cloud Box units — in as many as ten provinces and municipalities including Beijing, Tianjin, Shenzhen, Shandong, Jiangsu, and Henan. By 2019, he added, CNIT could achieve nationwide coverage for the solution and sell up to 500,000 Cloud Box units. By that year, he projected, the company would also be receiving substantial revenue from both recurring IoT platform service fees and from sale of elevator-related data, stored on CNIT’s network, to property management companies, government entities, elevator maintenance companies and other users. About China Information Technology, Inc. China Information Technology, Inc. (CNIT) is a leading Internet service company that provides integrated cloud-based solutions enabling innovation and smart living in the fields of new media, elevator safety management, education, etc. Through continuous innovation, CNIT is aiming to leverage its proprietary Cloud-Application-Terminal technology to level the competitive landscape in the new media industry and deliver value for its shareholders, employees, customers, and the community....

TAKUNG TO ANNOUNCE 2016 FINANCIAL RESULTS MARCH 29 AT 4:30 P.M. EDT; WILL HOST CONFERENCE CALL ON MARCH 30 AT 9:00 A.M. EDT TO DISCUSS RESULTS AND EXPANDED GROWTH PROSPECTS...

HONG KONG, CHINA / ACCESSWIRE / March 27, 2017 / Takung Art Co., Ltd. (NYSE MKT: TKAT), an online platform for acquiring shared ownership units in Asian and other fine art, jewelry and precious gems, today announced it will release its 2016 year-end results on Wednesday, March 29, 2017 at 4:30 p.m. EDT and host a conference call the following morning at 9:00 a.m. EDT to discuss the company’s 2016 results and new opportunities for growth in 2017. To participate in this conference call, please dial (Toll Free) 866-407-8133 domestically or 201-689-8040 internationally, approximately five to ten minutes before the beginning of the call. You may access the teleconference replay by dialing (Toll Free) 877-481-4010 domestically or 919-882-2331 internationally, referencing conference ID #10302. The replay will be available approximately 30 minutes after the completion of the live event, and end at 11:59 p.m. on April 6, 2017. An audio recording of the conference can also be accessed at http://ir.takungart.com/presentations within 30 minutes after the completion of the call. ABOUT TAKUNG ART CO., LTD: www.takungart.com Based in Hong Kong, Takung Art Co., Ltd. is an online trading platform for acquiring shared ownership in Asian and other fine art, jewelry and precious gems. This proprietary platform allows collectors and investors – including those with modest financial resources – to buy and sell units of these assets and participate in the booming Asian art market. The company’s shared-ownership business model significantly expands the number of interactions between sellers and buyers of fine art far beyond those generated by art galleries and auction houses alone. Takung operates its online trading platform via three wholly-owned subsidiaries, Hong Kong Takung Assets and Equity of Artworks Exchange Co. Ltd., Takung (Shanghai) Co., Ltd., and Takung Cultural Development (Tianjin) Co., Ltd. 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 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. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Contacts: Takung Art Co., Ltd. Leslie Chow +852 31580977 leslie.chow@takungae.com Asia IR-PR – Investor Relations Jimmy Caplan 512-329-9505 jimmy@asia-irpr.com Asia IR-PR – Media Relations Rick Eisenberg 212-496-6828 rick@asia-irpr.com SOURCE: Takung Art Co., Ltd. Released March 27,...

Takung Art Co. (TKAT) Uplists to the New York Stock Exchange and Rings the Opening Bell March 22, 2017...

VIDEO: Opening Bell -and Gong – at the New York Stock Exchange...

TAKUNG ANNOUNCES TRADING ON NYSE MKT TO COMMENCE MARCH 22, 2017...

Hong Kong, March 20, 2017 — Takung Art Co., Ltd. (OTCQB:TKAT), an online platform for acquiring shared ownership units in Asian and other fine art, jewelry and precious gems, today announced that its common stock has been approved for listing on the NYSE MKT. The company’s common stock will begin trading on NYSE MKT under the symbol “TKAT” on March 22, 2017. The company’s common stock will continue to trade on the OTCQB until the close of the market on March 21, 2017. “We welcome Takung Art Company to NYSE MKT, where it joins other innovative companies that take advantage of our market model combining leading technology and human oversight for listing and trading their shares,” said John Tuttle, NYSE Global Head of Listings. “We look forward to providing the unique benefits of our market, brand and network to the company and its stockholders.” “Uplisting to a major exchange represents an important corporate milestone for Takung,” said CEO Di Xiao. “Our company has grown very quickly and profitably over the past two years, and we believe that trading on the NYSE MKT will provide greater visibility and improve the liquidity of our stock. It now positions Takung to attract a broader investor and institutional base that can further enhance shareholder value. We are grateful for the assistance provided by the NYSE MKT team in making this happen, and we look forward to the next phase of our corporate evolution.” ABOUT TAKUNG ART CO., LTD: www.takungart.com Based in Hong Kong, Takung Art Co., Ltd. is an online trading platform for acquiring shared ownership in Asian and other fine art, jewelry and precious gems. This proprietary platform allows collectors and investors – including those with modest financial resources — to buy and sell units of these assets and participate in the booming Asian art market. The company’s shared-ownership business model significantly expands the number of interactions between sellers and buyers of fine art far beyond those generated by art galleries and auction houses alone. Takung operates its online trading platform via three wholly-owned subsidiaries, Hong Kong Takung Assets and Equity of Artworks Exchange Co. Ltd., Takung (Shanghai) Co., Ltd., and Takung Cultural Development (Tianjin) Co., Ltd. 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 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. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Contacts: Takung Art Co., Ltd. Leslie Chow +852 31580977 leslie.chow@takungae.com Asia IR-PR – Investor Relations Jimmy Caplan 512-329-9505...