ATIF Holdings Limited Gains Revenue Boom from Box Office and Pre-movie Advertising as Blockbuster “The Eight Hundred” Rak...
August 24 2020 - 8:00AM
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, is gaining revenue
boom from its box office and pre-movie advertising business, thanks
to the wildly anticipated release of blockbuster The Eight Hundred
and its strong box office performance recently.
The Eight Hundred is technically the first
domestically produced blockbuster that was released post-pandemic.
The film was screened at a less frequent interval by cinemas
nationwide but with its box office climbing at a record rate by
second due to strong film viewer interests. Its box office reached
RMB 12 million on the first day of the film release on 14 August
and the box office hit RMB 45 million on the next day.
During its last run day on the 20th, The Eight
Hundred yielded RMB 200 million box office, and in total the number
of people who have seen the film has reached over 4.52 million. The
Eight Hundred is now officially on and up to the time of this press
release, the film has achieved a box office of over RMB 800
million.
Mr. Bo Jiang, Chairman of LGC, commented, “As
China allows cinemas to sell more tickets to increase its
attendance ran from current 30% to 50%, we could also expect more
films to be released on screen. As such, our revenues from
advertisement and box office will be boomed. We are also expecting
a series of high-quality blockbusters to make debuts during China’s
National Day golden holiday week, including “Leap (China Women’s
Volleyball)”, “Master Jiang and The Six Kingdoms”, and “My People
My Homeland.”
Mr. Pishan Chi, CEO of the ATIF said, “We can
anticipate that China’s film industry will soon regain its past
glory and we are confident that the Company will also boost
shareholder values as LGC is yielding strong revenue gains from its
film-related businesses.”
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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