Same situation happened to me a couple hours after the dealer dropped the tractor off at my house. I could not get the 3 pt lift arms to lower - got very frustrated and called my neighbor who has a kioti ck27. He couldn't figure it out either. Finally, as I was playing around, I pushed the draft control lever down and I realized that the 3 pt arms lowered simultaneously. I felt a little foolish, but I learned something.
BTW, I am very grateful to all the posters on TBN, as I have learned so much. The information I have learned here has prevented other such "situations".