Item 5.02 Departure of Directors or Certain Officers; Election of Directors;


          Appointment of Certain Officers; Compensatory Arrangements of Certain
          Officers

Effective April 14, 2023, the board of directors of Takung Art Co., Ltd. (the "Company") approved the termination of Mr. Kwok Leung Paul Li position as the Company's Co-Chief Executive Officer ("Co-CEO") for cause, as defined in the executive employment agreement by and between the Company and the Co-CEO, dated July 20, 2021 (the "Employment Agreement").

Pursuant to the terms of the Employment Agreement, the Company may terminate the Co-CEO's employment for cause at any time, without any advance notice or payment in lieu of notice. The Company shall pay to the Co-CEO all compensation prescribed under the Employment Agreement to which the Co-CEO is entitled up through the date of termination, subject to any other rights or remedies of the Company under law, and thereafter all obligations of the Company under the Employment Agreement shall cease.


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