Shenzhen, China, April 28, 2020 (GLOBE NEWSWIRE) — ATIF Holdings Limited (NASDAQ: ATIF), a company providing business consulting service and multimedia service in Asia, today announced that its majority owned subsidiary, Leaping Group Co., Ltd.(“LGC”), entered into US$2.3 million in contracts (the “Contracts”) from multiple clients to launch live streaming and short video production.
As the spread of COVID-19 has largely changed people’s way of life worldwide, social media influencer live streaming and short video marketing have become the most influential marketing strategies for advertising, film, and television media industries. To navigate the current environment and seize the opportunities, LGC has signed a few dozens of social media influencers to shoot short videos and conduct live Internet broadcasts to advertise products and services.Pursuant to the Contracts, LGC agrees to provide exclusive team service and one-stop service for clients’ video production. Once clients confirm the service proposal, LGC agrees to deliver the video production within 25 business days. According to the Contracts, the accumulated contract amount is approximately US$2.3 million.From early January to mid-April, LGC was engaged by over 20 clients to produce short video, corporate promotion videos, and corporate documentaries. Some of LGC’s clients are well-known real estate companies in China including China Overseas Land & Investment Limited, COFCO Property, China Railway Construction Group (Fortune 500 Company), Kisai Group Holdings Limited, Zhongliang Holdings Group Company Limited, Country Garden Holdings Company Limited, Gemdale Corporation, and Yango Group Co., Ltd, etc.Mr. Tao Jiang, CEO of Leaping Group, commented, “In addition to our traditional businesses such as multi-channel advertising, event planning and execution, film and TV program production and movie theater operation, we will focus on live streaming and short video production, and other associated fields to fully explore the domestic Chinese market. We believe that live streaming and short videos will boost our business and financial performance.”About ATIF Holdings LimitedHeadquartered in Shenzhen, China, ATIF is a company providing business consulting services to small and medium-sized enterprises in Asia including going public consulting services, international business planning and consulting services, and financial media services. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. Through its affiliate Leaping Group Co., Ltd., ATIF is also providing multimedia services and engaged in three major businesses including multi-channel advertising, event planning and execution, film and TV program production and movie theater operation. ATIF operates the largest pre-movie advertising network in Heilongjiang Province and Liaoning Province of China and also provides advertising services in elevators and supermarkets. ATIF is often hired to plan both online and offline advertising campaigns and produce related advertising materials. In addition, ATIF invests in films and TV programs and distributes them in movie theaters or through online platforms. For more information, please visit https://ir.atifchina.com/.Forward-Looking StatementsCertain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, include, but are not limited to, that LGC’s clients will engage LGC’s for all of their services and that LGC will be able to complete the services or that it will be able to complete the services within the timeframe and are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside ATIF’s or LGC’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to continue to operate through ATIF’s VIE structure; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients, and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; a pandemic or epidemic; and other factors listed in ATIF’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. ATIF undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although ATIF believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and ATIF cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.For more information, please contact Investor Relations at:Ascent Investor Relations LLC
Tina Xiao, President
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com
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