LOS ANGELES, March 3, 2021 /PRNewswire/ -- ATIF Holdings
Limited (Nasdaq: ATIF, the "Group", "ATIF" or "We"), a holding
group providing business and financial consulting services in
Asia and North America, announced the Group's business
development plan for the year of 2021, focusing on promoting its
asset management, going public consulting services and
investment holding through establishing Special Purpose Acquisition
Company ("SPAC"), which is expected to emerge from the gloom of the
epidemic and achieve rapid growth for the Group in 2021.
High-return Asset Management
Services
The Group has launched its initial venture into equity
investments in January 2021 and has
brought ideal results. Following a careful assessment of
the stock market and the development of a unique "liquidity +
volatility" short-term trading strategy, the portfolio of equity
investment made a strong impact in 2020, generating a gross return
of approximately 54.02%, surpassing the S&P 500 Index's annual
growth rate of 16.3% in 2020.
The Group completed its asset management qualification filing in
February 2021 and is now orderly
preparing the first batch of US$50
million private fund, which is scheduled to be formally
launched by the mid-year of 2021 and is expected to generate a
substantial return for the Group this year.
Investment Holding through establishing SPACs
The 2020 pandemic has made SPACs the most popular IPO trend,
dominating most of the US IPO market in 2020, with popular target
industries including fintech, bio-tech, technology, healthcare,
electric vehicle and consumer goods, including two well-known
Chinese companies in ed-tech and entertainment fields.
In February 2021, ATIF established
a SPAC department commenced the works for the preparation to
establish various SPACs, and according to the Group's research and
analysis thus far, the Group may be interested to consider
acquisition targets in various industries, including but not
limited to fintech, blockchain, artificial intelligence, internet,
bio-tech, life science and pharmaceutical. ATIF is currently in
discussion with various angel investors and private equity funds,
and may enter into collaboration with various parties to establish
multiple SPACs in the near term.
Segmentation of IPO Advisory Services, Launch of SPAC
Consulting Services
In response to the boom in SPAC listings, the Group has formally
launched SPAC consulting services as an important branch of IPO
consulting services. The Group's extensive experience in private
equity, IPO and M&A enables ATIF to provide such consulting
services to corporations in various industries to assist them to
prepare to become a ready acquisition target by a SPAC.
ATIF is in communication with various SPACs with focused
interest in various industries, and ATIF may represent those
interested corporations and connect them to the SPACs already
listed in the U.S and to facilitate potential acquisition
transactions.
Mr. Pishan Chi, Chief Executive Officer and Director of ATIF,
commented, "We have spent a lot of time studying the business
trends and environment in the capital market. We analyzed the
market environment and listened to the sounds around us and
established our SPAC-related business and services in a
timely manner. We see this business strategies as an excellent
opportunity for ATIF to increase its revenue."
"On the other hand, the asset investment business is in a
critical start-up phase. We have high expectations for this
business as it represents our formal entry into the financial
business and brings together our multi-dimensional analytical
strategy capabilities, and we will spare no effort to drive the
growth and development of this business."
"This year has been very important for ATIF. In the face of a
rapidly changing business environment, we are developing and
extending our main business with a high sense of urgency and
responsibility with the purpose to break through the epidemic and
achieve rapid growth in 2021, delivering high-value and sustainable
returns for the Group and our shareholders."
About ATIF Holdings Limited
Headquartered in Los Angeles,
California, ATIF Holdings Limited ("ATIF") is a holding
group with asset management, investment holding and online
financial information business and provide business consulting
services to small and medium-sized enterprises in Asia and North
America. ATIF operates an internet-based financial
information service platform IPOEX.com, which provides
prestige membership services including market information, pre-IPO
education, IR media and matchmaking services between SMEs and
financing institutions. ATIF's investment holding business is to
provide going public consulting, M&A consulting and financial
consulting services to SMEs. ATIF has advised several enterprises
in China in their plans to become
publicly listed in the U.S. ATIF plans to launch securities
investment service and investment advisory in Q1 2021. 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. The
numbers of gross return were excluded transaction costs and fees
and were gross of management fee and performance incentive.
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.
View original
content:http://www.prnewswire.com/news-releases/atif-holdings-limited-announces-2021-business-development-plan-expecting-high-growth-during-the-year-301239586.html
SOURCE ATIF Holdings Limited