IRVINE, Calif., March
22, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq:
ATIF, the "Company", "ATIF" or "We"), a holding group
providing business and financial consulting services in
Asia and North America, today released a translated
interview of ATIF Chairman and CEO Jun
Liu with Yicai Media Group, one of China's largest financial media conglomerates.
Topics ranged from changes in Sino-U.S. relations to public listing
service opportunities.
Reporter: As a business and financial consulting firm
that provides U.S. listing services for Chinese companies, has ATIF
been affected by the global pandemic and the deterioration of
Sino-U.S. relations?
Jun Liu: Certainly, I
think everyone has been affected by the global pandemic, including
ATIF. As an institution serving early-stage Chinese stocks listed
in the United States, from 2020 to
the end of 2021, the Company's business has been greatly affected
for nearly two years. This is mainly because Sino-US relations have
entered a stage of change and instability, and together with policy
uncertainty, it has brought a greater impact to Chinese companies'
IPOs. There are currently nearly 200 companies applying for and
pending review of Chinese stocks. The lockdowns and closures of
businesses worldwide caused by the spread of COVID-19 challenged
every corner of the economy. Additionally, the Luckin Coffee
incident negatively impacted us and all law firms, auditing firms,
and investment banks who provide services to early-stage Chinese
companies.
Reporter: How did ATIF react in such a challenging
environment and capture new business opportunities?
Liu Jun: ATIF's
business up to that point focused on providing IPO listing
consultant services for companies in Asia, but given the ongoing pandemic, we took
steps that launched the Company's expansion into international
markets. We already established a wholly-owned subsidiary in
Los Angeles, California, in 2020,
conducting IPO listing consulting business for small and
medium-sized enterprises in the United
States. Based on our research, most American SMEs do not
have the opportunity to obtain professional and high-quality IPO
listing services because of the high costs involved. At the same
time, there are many Asian- and Chinese-funded enterprises in
the United States. Although the
business is running, the percentage of companies listing
successfully is quite slim, almost none. Therefore, our U.S.
subsidiary and its team found an attractive entry point to enter
the U.S. market to provide consulting services for SMEs and Chinese
companies in the United States and
help them go public. We have signed several quality clients in
the United States to provide going
public consultant services. We are diligently working with them to
help them achieve their listing goals in the United States.
At the same time, ATIF also invests in its IPO clients from
North America. After completing
the due diligence, we divide the clients into two types: making an
equity investment with our IPO consultant services and providing
IPO services only. The return for the first type of investment is
tremendous for ATIF.
At the beginning of 2022, ATIF's business model has undergone
some restructuring and upgrades.
- First of all, the IPO listing consulting business will mainly
focus on the United States and
Europe markets. We are positioned
to provide IPO listing services for small and medium-sized
enterprises and innovative companies in more attractive
markets.
- At the same time, ATIF's recently launched investment fund for
U.S. investors is also operated by a seasoned team with years of
experience in trading and wealth management. Our services to
high-net-worth individuals have been very well received so
far.
- This year, we fully upgraded the IPOEX (www.ipoex.com) to the
world's leading asset securitization service platform. ATIF will be
transformed from a financial advisory services company into an
internet-based financial information service platform consisting of
diversified services.
- On the basis of the continuous development of our original
business, we will vigorously improve the functionality of the IPOEX
platform and provide several online services, including IPO listing
business consulting services and digital asset management such as
the issuance of digital currency and NFT products. We will
cooperate with OpenSea, the world's largest and most well-known
digital asset exchange, to launch the www.nftdpo.com network
platform, providing guidance, along with distribution and on-chain
services in OpenSea for users who issue NFT products around the
world. These digital and NFT related new businesses will be strong
drivers of the Company's future growth. The premise of our newly
launched Digital Asset Platform Service is to leverage our
knowledgeable technical staff and its technology stack to cater to
the wildly popular non-fungible token (NFT) market. We believe such
a business is full of potential. There have been many institutions
and retail investors participating in it and enriching cutting-edge
financial knowledge, technical support, and marketing support.
ATIF's services comprehensively include digital currency, NFT
design and issuance, on-chain services on exchanges, and aftersales
marketing services. I believe this will be the growth drive of the
Company's future business.
- We are developing and establishing ATIF's own equity
crowdfunding platform on the IPOEX platform to provide a safe and
dynamic marketplace between high-quality companies and investors
eager to invest in the earlier stages of a company's development
before becoming public. The platform is the bridge to solve their
financing problems and prepare them to be IPO-ready in the future.
The new business model will be more sophisticated and specific,
with broad market demand, and we expect it to bring more lucrative
benefits to the Company.
Reporter: What are the competitive advantages of
ATIF's services to customers?
Liu Jun: First of
all, ATIF's service team has rich experience in IPOs and other
listing methods, with a proven track record of success with dozens
of companies. More importantly, unlike other consulting agencies,
ATIF's advisory services provide one-stop-shop services globally,
ranging from legal, auditing, deal underwriting, and other related
services. Each works seamlessly towards the same goal of delivering
quality results for the client. ATIF's role is like a symphony
conductor to provide a comprehensive effort based on each client's
needs. ATIF designs a customized listing and implementation plan
for each client. Moreover, because of our extensive network of
partners, ATIF can also help clients select and recommend suitable
and affordable intermediaries according to the size of the
client.
Reporter: What is the Company's long-term goal in your
opinion? What is your personal life goal?
Liu Jun: My goal for
2022 is to have ATIF positioned as an internet financial service
company this year. As a financial service enterprise, the
management team of ATIF has been engaged in the internet and
financial service industry for nearly a decade. We have unique
insights into the internet and financial industry. I was one of the
first pioneers of the internet in China and one of the first three million
Chinese to access the internet. After serving as the head of
marketing at Alibaba in the early days, I started a b2b e-commerce
group (www.b2b.cn), which became one of the top ten online
marketing companies in China with
over 2,000 employees. After that, I also created the Morgan
Network, the first B2C online shopping mall in China. Now ATIF's service team has many
excellent partners who worked together at that time. I believe
that, taking advantage of our team's Internet and financial
industry expertise, the IPOEX platform will be the world's leading
asset securitization service platform in the future, covering
corporate listing, equity crowdfunding, digital currency and NFT,
funds, securities trading, and investment banking underwriting.
Truly a comprehensive financial services platform.
As for my pursuits in life, I always hope that all companies and
entrepreneurs can get fair and justified financing opportunities
and quickly obtain development funds for enterprises and projects.
May all enterprises have an equal opportunity at the starting line
to grow and have a social and economic impact while contributing
meaningfully to the economy and society.
Reporter: We see that the Company's market
capitalization is extremely undervalued. Is this far from your
expectations?
Liu Jun: Absolutely!
Without question, COVID-19 impacted our business and, in turn, our
stock performance. The acquisition of non-performing assets two
years ago also negatively impacted us. We spun off those
non-performing assets in 2021 and pivoted to our business and
geographic expansion. We believe that the Company has found the
right direction and a clear business model from now on. This year,
we will usher in our development plan, and I expect financial
returns will be greatly improved.
ATIF has gradually transformed; soon, we will become a
domestically incorporated company in the
United States. I believe ATIF is a company worth investing
in and following, and I expect our prospects and future will be
huge. A good public company should prioritize product improvement,
market expansion, and team building, focusing on occupying the
market and developing innovative business products, using the
profits earned and the financing convenience of listing to reinvest
in the business for further growth opportunities. Only companies
with such foresight can maximize the shareholders' value in the
future.
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a holding group with business
consulting, asset management and investment business with business
centers located in Los Angeles,
California, Hong Kong, and
Shenzhen, China. ATIF mainly
provides IPO Advisory Services to small and medium-sized
enterprises in Asia and
North America. ATIF has advised
several enterprises in China in
their plans to become publicly listed in the U.S. ATIF was awarded
the "Top 10 Best Listed Companies 2019" from the "Golden Bauhinia
Award", the highest award in Hong
Kong's financial and securities industry. 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 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