ATIF Holdings Limited Forms Strategic Cooperation with Shenyang City’s Wenzhou Chamber of Commerce on IPOEX Online Financial Consulting Platform

Rhea-AI Summary

ATIF Holdings Limited (Nasdaq: ATIF) announced a strategic partnership with Shenyang City’s Wenzhou Chamber of Commerce (SYWCC) on September 11, 2020. This collaboration aims to enhance IPOEX.com, ATIF's internet financial consulting platform, by attracting corporate clients in Shenyang founded by Wenzhou businessmen. SYWCC will support IPOEX in providing consulting services, including fundraising advisory and IPO education, to bolster understanding of global financial markets among member companies. This initiative is expected to aid local companies in achieving sustainable growth.

Positive

• Strategic partnership with SYWCC to enhance client base for IPOEX.com.
• Access to SYWCC's extensive network of companies across multiple industries.
• Offering a range of consulting services that could attract new clients and increase revenue.

Negative

• None.

Shenzhen, China, Sept. 17, 2020 (GLOBE NEWSWIRE) -- ATIF Holdings Limited (Nasdaq: ATIF, the “Company”), a company providing business consulting and multimedia services in Asia, announced that through its viable interest entity, Qianhai Asia Times (Shenzhen) International Finance Services Co. Ltd., on September 11 it has reached a strategic cooperation with Shenyang City’s Wenzhou Chamber of Commerce (“SYWCC”) regarding its recently launched internet financial consulting service platform IPOEX.com (“IPOEX”) to seek in-depth collaboration in order to provide relevant services for companies founded by Wenzhou businessmen in Shenyang, as well as for Wenzhou companies’ subsidiaries based in Shenyang.

Pursuant to the strategic cooperation agreement dated on September 11, 2020, SYWCC will serve as IPOEX’s valuable partner, providing a unique channel for IPOEX to attract corporate clients operating in diversified industries to register as members on the IPOEX. IPOEX will offer a variety of online and offline consulting services for clients including, but not limited to, education on global financial system, fundraising advisory, project incubation, initial public offering-related advising etc.

Mr. Jinlin Cai, Chief Secretary of SYWCC, said, “We look forward to working with ATIF. Through this collaboration, we hope the systematic financial knowledge and professional membership services provided by IPOEX can help fill up the gap existed in the limited understanding of our member companies about global capital market, so that to assist them realize sustainable development via capital.”

Mr. Pishan Chi, CEO of ATIF said, “We are delighted to reach strategic collaboration with SYWCC, following the sign-up of IPOEX’s cooperation with investment institution Dexin Dahua. SYWCC has accumulated rich enterprise resources, co-established over thousands of companies in Shenyang, ranging from auto parts, mechanical manufacturing and real estate industries. We believe through our intimate cooperation, we are able to provide comprehensive financial and IPO consulting services for local companies, to assist them to make debuts on global capital markets.”

About Shenyang City’s Wenzhou Chamber of Commerce
The SYWCC was set up in 1999, it plays an important role in attracting commerce, discipline industries, protecting commercial rights, coordination and communication among its member companies. Its mission is to help promote the development of the member enterprises in Liaoning Province and Shenyang region. Its member companies also play a great role in driving up Liaoning’s economic growth. Locally it helped establish thousands of companies, in electronics, apparel, auto parts, mechanical manufacturing, printing and real estate industries. So far the total amount of investments the SYWCC helped attract into Shenyang amounted to over RMB 100 billion, creating over 200,000 jobs, in all making a positive impact on stimulating local economic growth in Shenyang.

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 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 is the significance of ATIF's partnership with SYWCC?

The partnership aims to enhance the IPOEX.com platform by attracting corporate clients in Shenyang and providing various financial consulting services.

When was the strategic cooperation agreement between ATIF and SYWCC signed?

The strategic cooperation agreement was signed on September 11, 2020.

What services will IPOEX offer under its agreement with SYWCC?

IPOEX will provide services such as education on the global financial system, fundraising advisory, project incubation, and IPO-related consulting.

How will this collaboration impact local companies in Shenyang?

The collaboration aims to improve local companies' understanding of global capital markets, assisting them in achieving sustainable development.

What does SYWCC bring to the partnership with ATIF?

SYWCC brings a vast network of member companies in diversified industries, which could lead to increased business opportunities for IPOEX.