SHENZHEN, China, Nov. 18, 2020 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company" or "ATIF"), a company providing business consulting and multimedia services in Asia and North America, today announced that it is preparing a securities investment fund aiming to invest in secondary market stocks and IPO projects ("Investment Fund").
The Investment Fund is initiated by a team of professionals from the subsidiary of ATIF in Los Angeles and aiming to raise $100 million in the first phase and around $200-300 million in the second phase by 2021. Recently the first phase of the Investment Fund has entered the final preparatory stage, and will be in compliance with the legal and regulatory requirements applicable.
Mr. Pishan Chi, the Chief Executive Officer of the Company, commented, "Expanding our business to offer the Investment Fund was born out of our ambition to extend ATIF's business. We believe that setting up the Investment Fund will provide us with a growing and sustainable income. It is a crucial start and opportunity for us to establish the best fund team to provide continuous asset enhancement to the investors. In addition, we believe that the Investment Fund will effectively accelerate the success of IPO companies being invested, and in turn attract more outstanding companies to go public."
In addition, ATIF is seeking licenses for providing financial services in the United States, and plans to diversify and expand its businesses into IPO underwriting, securities brokerage and asset management in the U.S market. The financial services licenses and the Investment Fund will be strategic development to form the overall business expansion development of ATIF.
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.
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