LOS ANGELES, Calif., Jan.
6, 2021 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq:
ATIF, the "Group", "ATIF" or "we"), a company providing
business consulting and media services in Asia and North
America, plans to fully launch its asset management business
in the first quarter of 2021, which is expected to generate stable
and sustainable high returns for the Group in the future.
In January 2021,
ATIF officially relocated its operational headquarters to
California, USA, and launched new
business model covering three major sectors: asset management,
investment holding and media services. Among the three sectors,
asset management is the new main business of the Group, and it is
anticipated to provide equity investments and investment advisory
services in the U.S. stock market in 2021.
The Group's asset management team has launched its initial
venture into equity investments in January 2021 and has
brought ideal results to the Group. The asset
management team has adopted a unique "liquidity + volatility"
short-term trading strategy, focusing on U.S. Chinese-listed
American Depositary Receipts (ADRs) and large-cap quality
U.S. stocks, with holding periods ranging from a few hours to
a few days. This investment strategy is designed to provide
investors with daily liquidity and is an ideal platform for
liquidity management. According to Report of Performance
Review issued by Spaulding Group, Inc, during the period
of January 2 and November 30, 2020 the asset management team has
achieved rates of return (ROR) of -6.80%, 21.19%, and 9.08% in the
first, second, and third quarters of 2020, respectively, and
reached 34.28% in October and November of the fourth quarter,
cumulatively generating a high ROR of 64.77% for the first 11
months of 2020. Currently, the Group is applying for the
asset management qualification with the Financial Industry
Regulatory Authority (FINRA) and expects to complete the
qualification filing in January 2021.
After obtaining the qualification of the asset management, the
Group plans to establish a private fund to provide equity
investments and investment advisory services in the U.S. stock
market. Currently, the Group is in the process of submitting
application documents to the U.S. Securities and Exchange
Commission (SEC) for the establishment of a private fund. The first
batch of the private fund is planned to amount to US$50 million and is expected to be approved
within the first quarter of 2021, and the second batch of the
private fund is planned to amount to US$100
million and is expected to be approved in the second
or third quarters of 2021.
Mr. Pishan Chi, Chief Executive Officer and Director of ATIF,
commented, "Our team's portfolio investments in 2020 were so
successful that we have incorporated asset management into our
business model and made it our main business. Next, our team will
improve our data analysis and insight into the secondary market and
expedite the filing of the asset management qualification, and then we
will launch fund products with high yield and high
return. The U.S. stock market
is the most promising equity market in the world, and we are
confident that this new asset management business will bring the
Group a steady income from fund management fees and high return
performance bonuses. We look forward to generating stable and
sustainable income for the Group and our shareholders in the near
future."
About ATIF Holdings Limited
Headquartered in Los Angeles, California, ATIF
Holdings Limited ("ATIF") is a holding group with asset management,
investment holding and media services sectors and provide 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. 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