SHENZHEN, China, Aug. 3, 2020 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company"), a company providing business consulting services and multimedia services in Asia, today announced that its majority-owned subsidiary, Leaping Group Co., Ltd.("LGC"), a leading multimedia and advertising firm in Northeast China, has signed contracts with more than 20 renowned corporate clients to provide multimedia services. Some of the corporate clients are China and Global Top 500 companies.
Pursuant to the contracts LGC signed with the clients, LGC will produce promotional videos, documentaries, internet broadcast programs and product marketing related multimedia production services for over 20 renowned corporate clients such as COFCO Property (SHE:000031), Industrial and Commercial Bank of China (SHA:601398), China Vanke (SHE:000002), Agile Property (HKG:03383) and Evergrande (HKG:03333), which are ranked among China and Global Top 500 enterprises.
Mr. Bo Jiang, Chairman of LGC, commented, "We're glad that these famous companies chose us to offer them comprehensive multimedia solutions and we are confident that our exquisite service and product can help our clients deliver their enterprise image and influence better, appealing to more clients and consumers. As most industries have been affected by the global outbreak of Covid-19 to a certain extent during the past couple of months, in our film and multimedia industry many are seeking business transformation or other plans to cope with the situation, the so-called 'influencers' and short videos operations are also becoming the new growth points of advertising and media industry in China."
Mr. Pishan Chi, CEO of ATIF, said, "LGC also felt the brunt of the Covid-19 to a certain degree, but we proactively implement business transformation to catch up with the market trend in making short-videos and promotional media videos that have become the new growth points of our business. National box office recorded RMB33 million, which was a third of the same period of last year and only within six days since the cinemas re-opened on July 20 in China, as such LGC also expects its advertising business in second half of 2020 will start to grow at a pace in line with the ante-pandemic period."
About ATIF Holdings Limited
Headquartered in Shenzhen, China, ATIF Holdings Limited ("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 majority-owned subsidiary, Leaping Group Co., Ltd., ATIF also provides multimedia services and is engaged in three major businesses, including multi-channel advertising, event planning and execution, film and TV program production and movie theater operations. 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 to produce related advertising material. 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/.
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. 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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