SHENZHEN, China, Oct. 19, 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
and advertising firm in Northeast
China, has invested in the production of 'Macao Stories', an
anti-gambling themed film that will be released in Q4 2020 on
China's Top 3 online video
streaming platforms; iQiyi, Tencent
Video, and Youku.
According to the China's
Internet Audio-Visual Development Research Report 2020 released by
China Internet Audio-Visual Program Service Association, the
effective playback counts was 9.98 million for each film on
streaming platforms in the first half of 2020 and the user
penetration rate of iQiyi, Tencent
Video and Youku totaled 79.1%. In 2019, the market of online
integrated video including internet movie and internet TV series
reached RMB102.34 billion, a 15%
year-over-year growth. Based on the market statistics and LGC's
previous film investment had reached 200% return on investment, LCG
expects the broadcast of the 'Macao Stories' on the major streaming
platforms will bring in substantial return on investment.
Mr. Jiang Tao, CEO of LGC said,
'Macao Stories' incorporates elements such as Kong Fu and magic and has a casting of both
mainland and Hong Kong celebrities
that tailors present mainstream consumer appetites. The film 'Macao
Stories' skillfully makes use of humorous and intriguing techniques
to reflect a more profound social issue in our society. Its
artistry and entertaining nature are equally applauded by
professional commentators during the pre-view.
"We have seen how Covid-19 is accelerating development of video
streaming platforms. In North
America, globally famous media streaming platforms such as
Netflix, Hulu, HBO Max and Disney+ etc., have all had exponential growths
during the epidemic period. Nowadays more and more content creators
and film production companies have realized the importance of such
platforms. We also believe this trend will make an impact on
Chinese market too, which is also likely to transform the film
distribution market in a great way. We anticipate that this film
will become one of LGC's signature works,"
Mr. Jiang added.
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 operates an internet-based financial consulting
service platform IPOEX.com, which provides prestige membership
services including online capital market information, pre-IPO
education and matchmaking services between SMEs and financing
institutions. 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.
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SOURCE ATIF Holdings Limited