ATIF Holdings Limited Awarded RMB 3 Million Film Ads Contracts for Multiple Well-Known Brands
ATIF Holdings Limited (Nasdaq: ATIF) announced that its subsidiary, Leaping Group Co., Ltd. (LGC), secured film advertisement contracts worth RMB 3 million with major brands like HongQi and Bank of Communications for cinema screen advertising during the National Day's Golden Week. This comes as the Chinese film industry rebounds post-COVID-19, with a surge in box office attendance expected in October due to the release of popular blockbusters. Chairman Bo Jiang expressed optimism about growth in both advertisement and box office revenues.
- Secured film advertisement contracts totaling RMB 3 million.
- Major brands such as HongQi and Bank of Communications are clients.
- Anticipated surge in box office attendance due to blockbuster releases.
- None.
Shenzhen, China, Oct. 06, 2020 (GLOBE NEWSWIRE) -- ATIF Holdings Limited (Nasdaq: ATIF, the “Company”), a company providing business consulting and multimedia services in Asia, today announced that its majority-owned subsidiary, Leaping Group Co., Ltd. (“LGC”), a leading multimedia, advertising and theatre operating firm in Northeast China, has been awarded film advertisement contracts, totaling RMB 3 million, with multiple well-known brands such as HongQi, Bank of Communications, Country Garden, Poly etc. for cinema screen advertising during the prime time of National Day's Golden week holiday.
As the Chinese film industry continues to recover from pandemic Covid-19, most of the popular blockbusters have rescheduled to be released during the National Day's Golden week, as such, the box office and attendance in theatres are expected to surge in the month of October. Most of its advertisement clients had already booked screens with LGC as early as this past September.
Mr. Bo Jiang, Chairman of LGC, said, “We are pleased that our clients have confidence in the film market and our advertising services. With a significant volume of premium blockbusters releasing during the National Day’s Golden week and surging attendance, large number of advertisers were interested to book screens. We expect strong growth for both our film advertisement and box office in October.”
About ATIF Holdings Limited
Headquartered in Shenzhen, China, ATIF Holdings Limited (“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 operates an internet-based financial consulting service platform IPOEX.com, which provides prestige membership services including online capital market information, pre-IPO education and matchmaking services between SMEs and financing institutions. 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 also provides multimedia services and is engaged in three major businesses, including multi-channel advertising, event planning and execution, film and TV program production and movie theater operations. 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 to produce related advertising material. In addition, ATIF invests in films and TV programs and distributes them in movie theaters or through online platforms. ATIF is also one of majority shareholders of AeroCentury Corp. (NYSE American: ACY) which is an independent global aircraft operating lessor and finance company specializing in leasing regional jet and turboprop aircraft and related engines to airlines and commercial users worldwide. 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 continue to operate through our 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 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 more information, please contact Investor Relations at:
EverGreen Consulting Inc.
Janice Wang
+86-13811768559
+1-908-510-2351
IR@changqingconsulting.com
FAQ
What recent contracts did ATIF's subsidiary LGC secure?
When are the cinema advertisements for ATIF scheduled?
What is the expected impact of the National Day's Golden Week on ATIF's business?
What does the recent press release indicate about the Chinese film industry?
