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Takung Art (TKAT)

Business description

Based in Hong Kong, Takung Art Company provides a secure and easy way for art collectors and investors to acquire shared ownership in Asian and other fine art - including paintings, calligraphy, jewellery and precious gems - and participate in the booming international art market without fear of price manipulation and forgery.

Investment summary

Takung Art’s Q118 results showed that it is making progress at reorienting its user base more towards the retail market, which significantly increases its potential reach. There has also been some success in the quarter in increasing the average listing values of the items listed on the trading platform and in diversifying the offering, with five new pieces of sports memorabilia listed in the period. The FY17 reconstruction makes direct comparison with Q117 figures of limited use. The share price is yet to reflect the scale or quality of the potential opportunity.

Last updated on 29/06/2018

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2016A 19.1 9.8 9.5 65.53 2.0 N/A
2017A 12.9 (0.3) (1.1) (14.72) N/A N/A
2018E 18.9 1.7 1.2 7.69 17.3 N/A
2019E 23.3 4.8 4.4 29.26 4.5 N/A

Last updated on 21/06/2018

Latest research

Growing the retail base

Update | Media | 22/05/2018

A piece of the art action

Initiation | Media | 11/04/2018

Latest video

Executive interview - Takung Art

Industry outlook

Based in Hong Kong, the business is effectively transacted in mainland China. The NYSE American listing adds credibility and reflects the broader global ambitions. Meanwhile, there is a very large market to address within the existing remit, with a proven and growing appetite for; art; shared ownership; trading; and collectibles, especially in relation to globally-recognised sporting icons. Takung has put together an IT platform for trading fractionalised ownerships (comparable to units in a mutual fund), which enables investors to buy and sell units on a matched-bargain basis.

Last updated on 29/06/2018

Key management

Leslie Chow, CFO

Company address

Flat-RM 03-05 20-F, Hutchison House
10 Harcourt Road, Central
Hong Kong
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