Shenzhen, China, April 27, 2020 (GLOBE NEWSWIRE) — ATIF Holdings Limited (NASDAQ: ATIF), a company providing business consulting and multimedia services in Asia, today announced that ATIF, through its affiliate Leaping Group Co., Ltd. (“LGC”), plans to develop a 5G & AI information distribution platform (the “Platform”) to integrate big data of urban cities, enhance effective interaction between consumers and merchants, and boost China’s digital economy.The Platform features integration of big platforms, systems, and services, as well as decision making through big data. Once completed, it will be an intelligent information publishing platform that utilizes a unified government network as the channel, a unified cloud data center as the carrier, and a unified information security protection feature as the safeguard. In addition, the Platform will mainly focus on facilitating information sharing, interconnectivity, and business collaboration.Mr. Bo Jiang, Chairman of LGC, commented, “We plan to launch up to 3,000 units of 5G distribution screens in 15 cities in the first stage. We will place these screens in high-end office buildings, five-star hotels, banks, city halls, airports, and high-speed rail stations, among others. Merchants could reach out to their potential customers through AI intelligent interaction features on the Platform. In this way, we can improve the advertising arrival rate. We anticipate that the new Platform will help us significantly increase our advertising revenues.”Mr. Jun Liu, CEO and Director of ATIF, commented, “5G and AI technologies are changing the way companies conduct business. They offer us a new way to explore markets with huge potential. We will take advantage of the leverage of 5G and AI technologies on the Platform to form new collaborations and look for new opportunities. Developing the Platform not only benefits the public, but also increases LGC’s revenue in advertising service.”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 has 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 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 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: [email protected]
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