Shenzhen, China, May 01, 2020 (GLOBE NEWSWIRE) -- ATIF Holdings Limited (NASDAQ: ATIF), a company providing business consulting service and multimedia service in Asia, today announced its majority-owned subsidiary, Leaping Group Co., Ltd.(“LGC”), has signed a contract with Liaoning Maitian Picture(“Maitian”), a production and distribution company for video dramas, feature films, micro-films, and network dramas, to launch a movie “The Moment of Victory” (the “Movie”). ATIF expected US$2 million revenue from contract fee, as estimated from Maitian.
The Movie was invested by LGC and will be released online in June 2020 through iQIYI, Inc’s platform. The Movie invited well-known domestic and Hong Kong actors such as Zhao Yanguo Zhang, Zeng Jiang, and Du Yuming. Based on the true story of Mr. Ma Honggang, a well-known Chinese gambler, the Movie will become the first anti-gambling movie in China.
Mr. Tao Jiang, CEO of LGC, commented, “We are excited to share this news of launching a new movie in June. In addition to the upcoming movie ‘Moment of Victory’, we will have two more movies to be released by the end of this year. In the future, we expect to create long term value to our investors through increasing film and television content production, distribution, and purchasing foreign movie copyrights.”
About ATIF Holdings Limited
Headquartered in Shenzhen, China, ATIF is a company providing business consulting services to small and medium-sized enterprises in Asia including going public consulting services, international business planning and consulting services, and financial media services. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. Through its majority-owned subsidiary, Leaping Group Co., Ltd., ATIF is also providing multimedia services and engaged in three major businesses including multi-channel advertising, event planning and execution, film and TV program production and movie theater operation. ATIF operates the largest pre-movie advertising network in Heilongjiang Province and Liaoning Province of China and also provides advertising services in elevators and supermarkets. ATIF is often hired to plan both online and offline advertising campaigns and produce related advertising materials. In addition, ATIF invests in films and TV programs and distributes them in movie theaters or through online platforms. 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, include, but are not limited to, that LGC’s clients will engage LGC’s for all of their services and that LGC will be able to complete the services or that it will be able to complete the services within the timeframe and are not guarantees 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 ATIF’s or LGC’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 ATIF’s 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 ATIF’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. ATIF 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 ATIF 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 ATIF 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 more information, please contact Investor Relations at:
Ascent Investor Relations LLC
Tina Xiao, President
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com