SHENZHEN, China, Dec. 10, 2020 /PRNewswire/ -- ATIF Holdings
Limited (Nasdaq: ATIF, the "Company"), a company
providing business consulting and multimedia services in Asia
and North America, today announced
that its majority-owned subsidiary, Leaping Group Co.,
Ltd. ("LGC"), a leading multimedia, advertising and
theatre operating firm in Northeast China, is expected to
achieve revenue boom from its box office and pre-movie advertising
business in the fourth quarter of 2020 and the first quarter of
2021, thanks to the coming major movie seasons, 2021 New Year and
Chinese Spring Festival.
China's film industry is in a
period of vigorous recovery, and both advertisers and businesses in
the film industry chain have increased their investment during this
period. According to Beacon box office data, the total box office
sales during the National Day holiday in October 2020 reached RMB3.96 billion, which shows a recovery of nearly
90% from last year's record of RMB4.466
billion, and far exceeded the same period in 2017 and 2018.
In addition, CTR Market Research shows that in the recent October,
the proportion of movie advertising soared 224.7%, taking the top
spot in channel advertising with an absolute lead and becoming the
most intensive advertising channel.
As the year 2020 draws to a close, 2021 New Year and Chinese
Spring Festival have officially kicked off, with outstanding movies
making their debut in sequence. In December, there are more than 16
domestic and international blockbusters, including the
much-anticipated "Wonder Woman 1984" and "The Rescue". The 2021
Chinese Spring Festival is dubbed as most luxurious movie season in
the industry, and the box office is expected to exceed RMB10
billion.
Mr. Tao Jiang, Chief Executive Officer and Director of LGC,
commented, "We are expecting the upcoming 2021 New Year and Chinese
Spring Festival to continue the momentum of the Golden Week Holiday
of Chinese National Day and the greatest growth in movie
advertising in 2021. For this reason, we have already entered into
a 'battle-ready' mode to prepare for the arrival of the two major
domestic advertising slots."
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
and North America, 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