SHENZHEN, China,
Aug. 5, 2020 /PRNewswire/ -- ATIF Holdings Limited
(Nasdaq: ATIF, the "Company"), a company providing business
consulting and multimedia services in Asia, today announced that its majority-owned
subsidiary, Leaping Group Co., Ltd. ("LGC"), a leading
multimedia, advertising and theatre operating firm in
Northeast China, has fully resumed operations of its
cinemas with all new films also getting released from 5 August,
2020, as officially informed by local officials.
LGC is the cinema operator that owns the most (four cinemas)
number of film theaters in Shenyang, capital city of Liaoning
Province, and the Company expects LGC theaters' box office
will hit over $1 million in the
third quarter as its cinemas reopen from August 5. In
addition, the Company's businesses in the four segments including
film advertising, film promotion video production, cinema operation
and investment, press and marketing services have also resumed
working in full swing that aim for strong performance during the
rest of this year.
Mr. Bo Jiang, the Chairman of LGC
commented, "China's film industry
gradually regained vitality since 20 July when we see
a stable increase in the volume of online ticket
booking after the central government gave green
light to allow cinemas to reopen across the
country. The upcoming National Holiday is also one of the
most important periods for China's
film industry over the year. A lot more new blockbuster films will
announce their screening date in August and September which are
likely to be scheduled during this important period. We can expect
that we will see great growth on theatre
operation business in the second half of this year."
A series of high-quality Chinese and
international films are scheduled to be screened,
including but are not limited to: The Eight Hundred, Bad
Boys 3, Sonic, 1917, Interstellar
and Ford v.Ferrari, among which "The Eight Hundred" was
also being tagged as the "light" of the
post-pandemic resurgence of China's film industry. Some commentators
even believe The Eight Hundred is the most prominent
and meaningful film of the year, if it was not due to
Covid-19 that forced the film to postpone its screen date as
cinemas nationwide were shut down since early 2020, it's box office
could yield RMB5 billion this year. Now it has set the
box office goal at RMB3 billion this year,
which shall send positive signals for promising revenue growth
to the Chinese film industry.
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. ATIF is also one of majority shareholders
of AeroCentury Corp. (NYSE American: ACY) which is an
independent global aircraft operating lessor and finance company
specializing in leasing regional jet and turboprop aircraft and
related engines to airlines and commercial users
worldwide. 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. 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.
For more information, please contact Investor Relations at:
EverGreen Consulting Inc.
Janice Wang
+86-13811768559
+1-908-510-2351
IR@changqingconsulting.com
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SOURCE ATIF Holdings Limited