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ATIF Holdings Limited (NASDAQ: ATIF) is a prominent business consulting firm headquartered in Lake Forest, California. The company operates primarily as a holding entity, providing a wide range of financial planning and investment advisory services to small and medium-sized enterprises (SMEs) in the United States and internationally. ATIF's core business revolves around delivering comprehensive consulting services, including asset allocation, financial management, capital restructuring, and training services, aimed at facilitating the growth and financial health of its clients.
ATIF Holdings has carved a niche in the financial consulting industry by specializing in pre-IPO and post-IPO advisory services. The company is dedicated to guiding SMEs through the intricate process of going public, ensuring streamlined operations, compliance, and optimal results. ATIF's consulting services portfolio is diversified, encompassing equity design, valuation analysis, and investor relations, among other strategic business solutions.
Recent achievements of ATIF Holdings highlight its commitment to excellence and client success. The company’s subsidiary, ATIF Business Management LLC, has recently entered into service agreements with notable entities such as Genehope Holdings and Rawrr, Inc. These partnerships underscore ATIF's proficiency in understanding and addressing the strategic needs of its clients, fostering high-quality development through capital market engagement.
ATIF's financial condition remains robust, with the company generating the majority of its revenue from the United States. The firm's strategic initiatives and service agreements have significantly bolstered its market position, enabling it to attract a diverse clientele and expand its service offerings. ATIF has been recognized with the
ATIF Holdings Limited (Nasdaq: ATIF) announced the successful filing of its private fund, ATIF-1, L.P., with the SEC on January 27, 2021. This fund aims to raise US$50 million and will adopt a long/short trading strategy focused on U.S. and Chinese stocks, including IPOs. CEO Pishan Chi expressed confidence in the growth prospects for ATIF Inc. in 2021, marking the launch of their asset management division aimed at enhancing client relationships amidst volatile markets.
ATIF Holdings Limited (Nasdaq: ATIF) announced it has regained compliance with the Nasdaq minimum bid price requirement of $1.00 per share. Nasdaq confirmed that the closing bid price for ATIF shares was at least $1.00 for 10 consecutive business days from January 12 to January 26, 2021. This compliance resolves the previous deficiency under Listing Rule 5550(a)(2).
ATIF Holdings is focused on providing business consulting services and online financial information, primarily for small and medium-sized enterprises in Asia and North America.
ATIF Holdings Limited (Nasdaq: ATIF) announced the sale of its shares in Leaping Group Co., Ltd. due to difficulties arising from COVID-19, which have hindered recovery in the cinema industry. The sale involves 10,217,230 shares for 5,555,548 ordinary shares of ATIF and a cash payment of $2.3 million, with a 10% interest rate on unpaid amounts. Following the transaction, Leaping will no longer be a subsidiary of ATIF as the company transitions to focus on asset management, investment holding, and media services.
ATIF Holdings Limited (Nasdaq: ATIF) announced that its client, Qilian International Holding Group Limited, had a successful IPO debut on January 12, 2021. Qilian's stock opened at US$5.00, peaked at US$22, and closed at US$10, reflecting a 100% increase from its offering price. The IPO was priced at US$5.00 per share for 5 million shares, yielding expected gross proceeds of US$25 million. Qilian's market capitalization reached US$350 million. The company specializes in pharmaceutical and chemical products in China.
ATIF Holdings Limited announced that its client, Qilian International Holding Group Limited, has officially launched its ordinary shares on the Nasdaq Global Market as of January 12, 2021. Qilian's initial public offering (IPO) priced 5,000,000 shares at $5.00 each, aiming for gross proceeds of $25 million. Additionally, underwriters have a 45-day option to purchase another 750,000 shares. Qilian operates in pharmaceutical and chemical production in China and has a broad market presence across various provinces.
ATIF Holdings Limited (Nasdaq: ATIF) has announced plans to launch its asset management business in Q1 2021, focusing on equity investments and advisory services in the U.S. stock market. Following its relocation to California, ATIF aims for high returns through a short-term trading strategy involving U.S. Chinese-listed ADRs and large-cap stocks. The asset management team reported a cumulative return of 64.77% for the first 11 months of 2020. ATIF is currently applying for asset management qualification with FINRA, expecting to establish a private fund of up to $150 million in the near future.
ATIF Holdings Limited (Nasdaq: ATIF) has officially relocated its headquarters to California, unveiling a new business model focused on three sectors: asset management, investment holding, and media services. This strategic move aims to enhance growth and profitability. The Group has secured $4 million in IPO consulting contracts since October 2020 and plans to launch its securities investment business following FINRA qualification. Additionally, ATIF Inc. will optimize service fees to support startups, and the company anticipates the new sectors will diversify revenue streams and generate sustainable earnings.
ATIF Holdings Limited (Nasdaq: ATIF) announced receipt of a notice from Nasdaq regarding non-compliance with the minimum bid price requirement of $1.00 per share, effective December 16, 2020. The company has a 180-day compliance period until June 14, 2021, to regain compliance by maintaining a minimum bid price. Additionally, ATIF has not filed its Annual Report for the year ended July 31, 2020, resulting in another compliance notification with a deadline to submit a plan by February 16, 2021. The company is focused on resolving these issues to maintain its Nasdaq listing.
ATIF Holdings Limited (Nasdaq: ATIF) announced that its subsidiary, Leaping Group Co., Ltd. (LGC), is poised for revenue growth from box office and pre-movie advertising due to major upcoming movie seasons. China's film industry is recovering robustly, with October 2020 box office sales reaching RMB3.96 billion, nearly 90% of last year's record. The 2021 Chinese Spring Festival is expected to exceed RMB10 billion from box office revenue. LGC is prepared for increased advertising opportunities during this peak period.
ATIF Holdings Limited (Nasdaq: ATIF) has signed a Strategic Cooperation Agreement with Shenzhen Huiju Innovation Park to target technology-based enterprises for financial consulting and overseas listing advisory services. Huiju Innovation Park will facilitate financial forums and activities to connect resident companies with ATIF. This partnership aims to assist emerging companies in Shenzhen in obtaining overseas financing and listings, aligning with the Park's mission to support quality companies in growth.
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