IRVINE,
Calif., June 6, 2022 /PRNewswire/ --ATIF Holdings
Limited (Nasdaq: ATIF, the "Company," "ATIF" or "We"), a holding
company providing business and financial consulting services in
Asia and North America, is pleased to announce that it
has signed a definitive agreement to provide IPO advisory services
to Armstrong Logistic Inc. ("Armstrong Logistic Inc"), a
specialized provider of warehouse distribution, 3PL fulfillment,
and multi-channel fulfillment services.
Under the terms of the agreement, the Company will receive
a certain number of equity stake in Armstrong Logistic Inc and
lead the IPO process by utilizing internal staff and engaging third
parties in auditing, valuation, stock exchange consulting, investor
relations, and other IPO services.
About Armstrong Logistic Inc:
- Leading international intelligent warehouse logistics
service provider, including warehouse distribution, 3PL
fulfillment, and multi-channel fulfillment services that serve the
Port of Los Angeles, San Diego, LAX, and all major access routes to
and from Southern California
- Multi–channel capabilities Logistics and warehousing across
three facilities throughout the United
States (City of Industry,
CA, Houston, TX,
Florence, NJ), with 1,500,000
sq ft of space with plans for further expansion
- Maintains its own logistics company, customs clearance company,
and freight trucking company, providing customers a one-stop-shop
solution
- Realized substantial international growth in recent years,
fueled by an increased presence in strategic markets together with
international partnerships, and a strong focus on innovation and
state-of-the-art warehousing capabilities
- Blue chip customer base, including Samyang America, Inc. and
Pilot Automotive Inc.
- Respected partners of the United States Postal Service, UPS,
FedEx, DHL Express, Estes Express Lines, and other leading shipping
companies
- Joined the esteemed Top 3PL Provider list in
2020, compiled by Multichannel Merchant, and is a Fulfillment By
Amazon (FBA) partner
- Multi-Channel Fulfillment (MCF) service integrates with Amazon,
Ebay, FedEx, Jet, Groupon, Shopify, Walmart, Wayfair, Woo Commerce,
and other leading platforms, supporting 96% online e-commerce
platform fulfillment
Why it matters:
- Armstrong Logistic Inc has delivered strong financial growth,
unaudited revenue increased 956.5% from FY 2020 to FY 2021
- According to data from Statista, in the past 10 years, the 3PL
market revenue has doubled over the last 10 years, increasing from
$127.5 billion to $260.2 billion from 2010 to 2021, growing at a
CAGR of 2.8%
- According to MDC Research, the global 3PL market is expected to
reach $2,275.6 billion at a CAGR of
8.9% by 2030
- A growing number of enterprises are showing higher reliance
towards outsourcing various logistics functions including
transportation, warehousing, and distribution, thus fueling growth
in the 3PL market.
- 3PL enables enterprises to gain access to established resource
networks and industry expertise, benefitting from optimal cargo
turnover, distribution efficiency, superior inventory management,
reduced inventory and overall cost economies
Jun Liu, President,
Chairman of the Board, and CEO of ATIF, stated, "We are excited to
have been engaged by Armstrong Logistic Inc in their pursuit of a
public listing that will be a major catalyst for their continued
growth. Armstrong Logistic Inc has build an impressive distribution
network that spans across the United
States, and is a reliable partner across the supply chain.
Armstrong Logistic Inc takes a sophisticated approach towards
optimizing the entire supply chain management spectrum, including
warehouse distribution, 3PL fulfillment, and multi-channel
fulfillment, to the benefit of its customers and partners. A public
listing will provide greater opportunities in expanding its reach,
bolstering its employee base, and enhancing their capabilities to
meet the challenges faced in the global supply chain."
Jacky Chen, CEO of
Armstrong Logistic Inc, commented, "We are happy to take this
important step in pursuing a public listing of our common stock.
Through primarily organic growth, we've been able to expand and
strengthen our core capabilities, which has allowed us to serve a
more diverse set of customers and end markets. Our vision is to be
a global leader of supply chain solutions, while bringing a real
value proposition to our customers. We look forward to having Mr.
Liu and the team at ATIF help Armstrong Logistic Inc navigate the
complex process of becoming a public company."
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a holding group with business
consulting, asset management, and investment businesses, with
offices in Los Angeles,
California, Hong Kong, and
Shenzhen, China. ATIF mainly
provides IPO Advisory Services to small and medium-sized
enterprises in Asia and
North America. ATIF has advised
several enterprises in China in
their plans to become publicly listed in the United States. ATIF was awarded the "Top
10 Best Listed Companies 2019" from the "Golden Bauhinia Award,"
the highest award in Hong Kong's
financial and securities industry. For more information, please
visit https://ir.atifchina.com/.
To learn more about IPOEX, our financial services platform,
please visit: https://www.ipoex.com/
For more information about NFTDPO, our NFT service division,
please visit https://nftdpo.com/.
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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. 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 obtain additional financing in
the future to fund capital expenditures; ability to attract new
clients, complete projects for 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; the
occurrence of any event, change or other circumstances that could
affect the Company's ability to continue successful development and
launch of its NFT collection; the possibility that the Company may
not succeed in developing its NFT platform and business due to,
among other things, changes in the business environment,
competition, changes in governmental regulation, or other economic
and policy factors; the ability of the Company to continue
compliance with the development of applicable regulatory
regulations in connection with blockchain, digital assets and the
NFT industry; the possibility that the Company's ongoing NFT
services may be adversely affected by other economic, business,
and/or competitive factors; 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