IRVINE, Calif., Aug. 15, 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 the Company's IPO advisory services client and investment holding company Armstrong Logistic Inc. ("Armlogi"), a leading freight forwarding and logistics company in U.S., has recently seen strong growth in performance. Under the terms of the investment agreement between Armlogi and the Company, ATIF holds a 12.0% equity stake in Armlogi.

Armlogi is leading international intelligent warehouse logistics service provider, including warehouse distribution, 3PL fulfillment, and multi-channel fulfillment services, self-employed logistics company, customs clearance company and freight car company serving the Port of Los Angeles, San Diego, LAX, and all major access routes to and from Southern California. Armlogi's certified logistics and warehousing is located in City of Industry, CA; Houston, TX; and Florence, NJ, with 1,500,000 sq ft of space that is full-service EDI (Electronic Data Interchange) Compliant. Armlogi's Multi-Channel Fulfillment (MCF) service integrates with Amazon, Ebay, FedEx, Jet, Groupon, Shopify, Walmart, Wayfair, Woo Commerce, and other leading platforms, supporting 96% online e-commerce platform fulfillment.

Warehousing and logistics companies have had to adapt and evolve to changing market trends and the growing need for accelerated deliveries. In the face of the impact of inflation on the freight forwarding and logistics industry this year, Armlogi has developed flexible operational strategies. Through an assessment of its own inventory levels, warehousing capacity, utilization rates and transportation capabilities, Armlogi adopted strategies such as cutting unnecessary costs and introducing new growth opportunities, and effectively delivered very strong performance.

A growing number of enterprises are showing higher reliance towards outsourcing various logistics functions including transportation, warehousing, and distribution, thus fueling growth in the 3PL market. According to data from Statista, in the past 10 years, the 3PL market revenue has doubled over the last 10 years, increasing from $127.5 billion to $260.2 billion from 2010 to 2021, growing at a CAGR of 2.8%. According to MDC Research, the global 3PL market is expected to reach $2,275.6 billion at a CAGR of 8.9% by 2030.

Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, "We appreciate the innovations and rapid shifts of Armlogi's operations and are very pleased with its strong financial performance. As far as we understand it, Armlogi's revenues for the first quarter of 2022 alone exceeded 50% of total revenues in 2021 and revenues for the full year 2022 are expected to jump three to four times year over year! We expect Armlogi to continue its strong impetus and to deliver high returns for us and our shareholders in its future IPO."

About ATIF Holdings Limited

ATIF Holdings Limited ("ATIF") is a Los Angeles-based comprehensive financial group with wholly owned and operated subsidiaries: ATIF-1 hedge funds company, ATIF equity investing company, ATIF IPO advisory company, and the integrated financial services network platform www.IPOEX.com. ATIF is dedicated to providing international asset securitization services, as well as equity investment and asset management services to companies around the world. 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.

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SOURCE ATIF Holdings Limited

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