The Pre-movie Advertising Market Surged By 220%, ATIF Holdings Limited Is Expected To Achieve Revenue Boom During The Upcoming Movie Seasons!
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.
- Anticipated revenue growth from box office and pre-movie advertising.
- Chinese film industry showing near 90% recovery with RMB3.96 billion box office in October 2020.
- Expectations for 2021 Spring Festival box office to exceed RMB10 billion.
- Significant increase (224.7%) in movie advertising in recent months.
- None.
SHENZHEN, China, Dec. 10, 2020 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company"), a company providing business consulting and multimedia services in Asia and North America, today announced that its majority-owned subsidiary, Leaping Group Co., Ltd. ("LGC"), a leading multimedia, advertising and theatre operating firm in Northeast China, is expected to achieve revenue boom from its box office and pre-movie advertising business in the fourth quarter of 2020 and the first quarter of 2021, thanks to the coming major movie seasons, 2021 New Year and Chinese Spring Festival.
China's film industry is in a period of vigorous recovery, and both advertisers and businesses in the film industry chain have increased their investment during this period. According to Beacon box office data, the total box office sales during the National Day holiday in October 2020 reached RMB3.96 billion, which shows a recovery of nearly
As the year 2020 draws to a close, 2021 New Year and Chinese Spring Festival have officially kicked off, with outstanding movies making their debut in sequence. In December, there are more than 16 domestic and international blockbusters, including the much-anticipated "Wonder Woman 1984" and "The Rescue". The 2021 Chinese Spring Festival is dubbed as most luxurious movie season in the industry, and the box office is expected to exceed RMB10 billion.
Mr. Tao Jiang, Chief Executive Officer and Director of LGC, commented, "We are expecting the upcoming 2021 New Year and Chinese Spring Festival to continue the momentum of the Golden Week Holiday of Chinese National Day and the greatest growth in movie advertising in 2021. For this reason, we have already entered into a 'battle-ready' mode to prepare for the arrival of the two major domestic advertising slots."
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 and North America, 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.
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SOURCE ATIF Holdings Limited
FAQ
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