ATIF Holdings Announces New Client Agreement Valued at US$1.3 Million

Rhea-AI Summary

ATIF Holdings Limited (Nasdaq: ATIF) has secured a consulting and IPO advisory contract valued at US$1.27 million with a technology innovation company based in Hangzhou, China. ATIF has received $381,000 as the first installment. The client specializes in urban smart parking and aims to go public by the end of 2022 via an IPO or a reverse takeover. ATIF's President highlighted the firm's commitment to supporting SMEs with strategic consulting services, emphasizing their role in the growth of companies in capital-intensive industries.

Positive

• Secured a consulting contract worth US$1.27 million.
• Received first payment of $381,000.
• Client operates over 5,500 parking lots across 40 cities in China.
• Client aims for IPO or reverse takeover by end of 2022.

Negative

• None.

IRVINE, Calif., March 30, 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, today announced that it has been retained by a technology innovation company (the "Client") based in Hangzhou, China, for consulting and IPO Advisory services. The total contract value is US$1.27 million of which we have received the first installment payment in the amount of $381,000.

The Client is in the business of providing design, development, construction, and operation services in connection with urban smart parking, parking lot renovation, and Internet of Things (IoT) products. The Client plans to become a public company via an initial public offering (IPO) or reverse takeover (RTO) by the end of 2022.

Jun Liu, President, Chairman of the Board, and CEO of ATIF commented, "Despite what's been a tumultuous time in the world and capital markets, today's contract win only validates that our focus on helping provide quality business and strategic financial consulting to SMEs continues to resonate today. We will provide this Client with a wide array of business consulting services, including capital market advisory for business planning and strategy development, planning and fundraising activities, and providing investor and public relations services as the Client approaches its debut in the capital markets. Our services deliver critical value for our clients with compelling yet capital-intensive businesses."

"It's a privilege to work with this dynamic Client to help guide them to their next level of growth. The Client has already developed a sizable track record of success. Their work spans more than 40 cities and regions across China, building and operating more than 5,500 parking lots with more than 600,000 parking spaces."

"I look forward to supporting this Client reach their next goal of being a publicly-traded company and sharing their future developments." concluded Mr. Liu.

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/.

To learn more about IPOEX, our financial services platform, please visit: https://www.ipoex.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; 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

FAQ

What is the contract value of the new agreement announced by ATIF?

The contract value of the new agreement announced by ATIF is US$1.27 million.

When does the client plan to go public?

The client plans to become a public company by the end of 2022.

How much has ATIF received as the first installment of the contract?

ATIF has received $381,000 as the first installment payment.

What services will ATIF provide to the new client?

ATIF will provide business consulting and IPO advisory services to the new client.

What industry does the client operate in?

The client operates in the urban smart parking and Internet of Things (IoT) sector.