ATIF will Receive a 5.25% Equity Stake and Form IPO Listing
Team in Support of Solarever's Future Public Listing
IRVINE, Calif., May
4, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF,
the "Company," "ATIF" or "We"), a holding company providing
business and financial consulting services in Asia and North
America, is pleased to announce that it has signed a
definitive agreement to provide IPO advisory services to Solarever
Ltd. ("Solarever"), the leading solar energy company in
Mexico. Under the terms of the
agreement, the Company will receive a 5.25% equity stake in
Solarever and lead the IPO process by utilizing internal staff and
engaging third parties in auditing, valuation, stock exchange
consulting, investor relations, and other IPO services.
About Solarever:
- Leading designer and manufacturer of solar products, including
photovoltaics (PV) panels, energy storage systems, electric
vehicles (EV), and other zero-emission solutions operating in solar
and electric vehicle sectors
- Solarever is the first and currently only domestic electric
vehicle company in Mexico that has
been granted electric vehicle safety certification and an EV
dealer's license. Solarever is qualified to import electric
vehicles to Mexico.
- Owns Latin America's largest
solar panel manufacturing plant in Tecoman, Colima, Mexico, and has a total of
three plants in Mexico that are
considered some of the largest in Latin
America
- Solarever is considered one of the largest producers of solar
panels in Mexico and currently
does business in over five countries, including the U.S.
- Launched its first EV in 2022 and is licensed to sell EVs in
Mexico from US$14,500
- PV design facility in Chino,
California, and warehouse facilities in Laredo, Texas, and San Diego, California
Why it matters:
- Solarever is seeking an initial public offering to scale
production across its PV, energy storage solutions, and EV
operations
- Solarever is a highly-respected leader in PV-based solar
technologies and energy storage solutions and has grown revenues
since its founding in 2012
- Solarever is well-positioned to operate in fast-growing
industry sectors related to energy decarbonization and
decentralized energy
-
- Global solar capacity installations totaled about 158 GW in
2021, up from about 130 GW of new capacity in 2020[1]
- Solarever has begun production of the SEV e-Wan EV with sizable
customer interest and purchase orders
-
- In 2021, global EV sales accelerated in volume and market
share, where 6.6 million plug-in vehicles were sold in 2021, a
greater than 100% increase compared to three million sold in 2020
and 2.2 million in 2019. Including hybrids, EV sales represented
about 9% of the global new-car market in 2021, up from 4.1% in 2020
and 2.5% in 2019[2]
- It is anticipated that as compared to 2021, worldwide EV
production will increase by 37% in 2022[3]
- Global EV market penetration rates are forecast to rise from 4%
in 2020 to 30% by 2030, while global electric vehicle sales are
forecast to increase ten-fold from 3.2m units in 2020 to 36.0m units in 2030[4]
Jun Liu, President,
Chairman of the Board, and CEO of ATIF, commented, "We are very
proud to deploy our IPO advisory services in support of Solarever
as they pursue a public listing that will fuel their next level of
growth. Solarever's business model is similar to Tesla's; they've
grown to become one of the
largest renewable energy solution providers in
Mexico while launching several new EV models that have
received significant customer pre-orders. We are excited to prepare
Solarever to enter the capital market to fund its operations while
providing ATIF the opportunity to invest in Solarever before its
IPO, benefiting our shareholders upon a successful future IPO."
Simon Zhao, President of
Solarever, commented, "We are delighted to partner with Mr. Liu and
the team at ATIF to help us explore and prepare for an initial
public offering. The decision of which IPO advisor to choose was
one we approached with tremendous seriousness. I look forward to
ATIF's extraordinary efforts and diligence that will be
instrumental in helping us towards achieving our ultimate goal of
entering the US capital markets."
"We believe that solar energy development and infrastructure are
vital to maintaining energy security and removing harmful CO2
emissions. Solarever has been doing business in Mexico for the past ten years, growing
our market share in Mexico while
building our business reputation across hundreds of customers
throughout the United States,
Canada, Latin America, and more recently, South America. Global energy markets have
reached an inflection point, with consumers and investors demanding
cleaner energy alternative sources independent of geopolitical
events. Solarever has made tremendous efforts in global energy
interconnection that addresses these concerns," concluded Mr.
Zhao.
"In turbulent capital markets like we're witnessing today,
experience matters more important than ever. I invite everyone to
visit ipoex.com to
review the companies that have successfully gone public with our
IPO advisory services. Our model simply works - we provide a
'one-stop-shop' platform that allows innovative companies
like Solarever to focus on growing their business. At the same
time, our team helps lay the foundation for a well-received IPO and
life as a publicly-traded company," concluded Mr. Liu.
[1] according to
S&P Global Commodity Insights
|
[2] according to the
International Energy Agency (IEA)
|
[3] according to IHS
Markit
|
[4] according to
BloombergNEF
|
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a holding group with business
consulting, asset management, and investment businesses, with
offices 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 United States. 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/.
To learn more about IPOEX, our financial services platform,
please visit: https://www.ipoex.com/.
For more information about NFTDPO, our NFT service division,
please visit https://nftdpo.com/.
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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, complete projects for 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; the
occurrence of any event, change or other circumstances that could
affect the Company's ability to continue successful development and
launch of its NFT collection; the possibility that the Company may
not succeed in developing its NFT platform and business due to,
among other things, changes in the business environment,
competition, changes in governmental regulation, or other economic
and policy factors; the ability of the Company to continue
compliance with the development of applicable regulatory
regulations in connection with blockchain, digital assets and the
NFT industry; the possibility that the Company's ongoing NFT
services may be adversely affected by other economic, business,
and/or competitive factors; 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.
For investor and media inquiries, please contact:
In China:
ATIF
Holdings Limited
Anna Huang
Tel: +86-139-2726-7157
Email: anna@atifchina.com
In the United
States:
Strategic Investor Relations, LLC
Matthew Abenante, IRC
President
Tel: 646-828-8710
Email: matthew@strategic-ir.com
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SOURCE ATIF Holdings Limited