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ATIF Holdings Limited Announces 2021 Business Development Plan, Expecting High Growth During The Year

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LOS ANGELES, March 3, 2021 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Group", "ATIF" or "We"), a holding group providing business and financial consulting services in Asia and North America, announced the Group's business development plan for the year of 2021, focusing on promoting its asset management, going public consulting services and investment holding through establishing Special Purpose Acquisition Company ("SPAC"), which is expected to emerge from the gloom of the epidemic and achieve rapid growth for the Group in 2021.

High-return Asset Management Services

The Group has launched its initial venture into equity investments in January 2021 and has brought ideal results. Following a careful assessment of the stock market and the development of a unique "liquidity + volatility" short-term trading strategy, the portfolio of equity investment made a strong impact in 2020, generating a gross return of approximately 54.02%, surpassing the S&P 500 Index's annual growth rate of 16.3% in 2020.

The Group completed its asset management qualification filing in February 2021 and is now orderly preparing the first batch of US$50 million private fund, which is scheduled to be formally launched by the mid-year of 2021 and is expected to generate a substantial return for the Group this year.

Investment Holding through establishing SPACs

The 2020 pandemic has made SPACs the most popular IPO trend, dominating most of the US IPO market in 2020, with popular target industries including fintech, bio-tech, technology, healthcare, electric vehicle and consumer goods, including two well-known Chinese companies in ed-tech and entertainment fields.

In February 2021, ATIF established a SPAC department commenced the works for the preparation to establish various SPACs, and according to the Group's research and analysis thus far, the Group may be interested to consider acquisition targets in various industries, including but not limited to fintech, blockchain, artificial intelligence, internet, bio-tech, life science and pharmaceutical. ATIF is currently in discussion with various angel investors and private equity funds, and may enter into collaboration with various parties to establish multiple SPACs in the near term.

Segmentation of IPO Advisory Services, Launch of SPAC Consulting Services

In response to the boom in SPAC listings, the Group has formally launched SPAC consulting services as an important branch of IPO consulting services. The Group's extensive experience in private equity, IPO and M&A enables ATIF to provide such consulting services to corporations in various industries to assist them to prepare to become a ready acquisition target by a SPAC.

ATIF is in communication with various SPACs with focused interest in various industries, and ATIF may represent those interested corporations and connect them to the SPACs already listed in the U.S and to facilitate potential acquisition transactions.

Mr. Pishan Chi, Chief Executive Officer and Director of ATIF, commented, "We have spent a lot of time studying the business trends and environment in the capital market. We analyzed the market environment and listened to the sounds around us and established our SPAC-related business and services in a timely manner. We see this business strategies as an excellent opportunity for ATIF to increase its revenue."

"On the other hand, the asset investment business is in a critical start-up phase. We have high expectations for this business as it represents our formal entry into the financial business and brings together our multi-dimensional analytical strategy capabilities, and we will spare no effort to drive the growth and development of this business."

"This year has been very important for ATIF. In the face of a rapidly changing business environment, we are developing and extending our main business with a high sense of urgency and responsibility with the purpose to break through the epidemic and achieve rapid growth in 2021, delivering high-value and sustainable returns for the Group and our shareholders."

About ATIF Holdings Limited

Headquartered in Los Angeles, California, ATIF Holdings Limited ("ATIF") is a holding group with asset management, investment holding and online financial information business and provide business consulting services to small and medium-sized enterprises in Asia and North America. ATIF operates an internet-based financial information service platform IPOEX.com, which provides prestige membership services including market information, pre-IPO education, IR media and matchmaking services between SMEs and financing institutions. ATIF's investment holding business is to provide going public consulting, M&A consulting and financial consulting services to SMEs. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. ATIF plans to launch securities investment service and investment advisory in Q1 2021. For more information, please visit https://ir.atifchina.com/.

Forward-Looking Statements

Certain 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. The numbers of gross return were excluded transaction costs and fees and were gross of management fee and performance incentive. These forward-looking statements are not guarantee 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 the Company'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 our 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 the Company's annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company 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 the Company 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 the Company 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.

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SOURCE ATIF Holdings Limited