IRVINE, Calif., March 15, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company," "ATIF" or "We"), a holding group providing business and financial consulting services in Asia and North America, today announced it has made a strategic investment in iDea Electronics ("iDea"), a leading consumer technology innovator that delivers a broad range of consumer electronics and home environment products. ATIF now holds a 15% equity stake in iDea and is providing comprehensive IPO Advisory services to iDea as it prepares for an initial public offering (IPO) in 2022.
"One of our primary goals in developing strategic relationships with technology innovators is to help guide them in taking their companies to the next level, whether it's through positioning for an initial public offering, or providing strategic growth capital to scale the business," commented Jun Liu, President, Chairman of the Board and CEO of ATIF. "iDea Electronics has done a terrific job in standing out within a crowded consumer electronics marketplace, innovating, and creating elegant technologies that serve important day-to-day purposes, while committing to design environmentally friendly products."
Founded in 2016, iDea's mission is to take green energy to all families. iDea's power storage technologies have already achieved commercial success in the U.S. market because of their quality design, long life, and environmentally friendly uses.
In just five years, iDea Electronics has built strong recognition for its brand "iDeaPLAY." iDea has gained momentum towards its goal of becoming a national, household brand through forming sales channel partnerships with national TV shopping channels HSN, QVC, and ShopHQ to reach well over 100 million viewers. Coupled with online marketing with global leading retailers such as Amazon, Walmart, HSN, QVC, ShopHQ, Brookstone, Sharper Image, Dunhams Sports, and others retailers and more to come onboard have helped iDea Electronics with its brand recognition.
"I admire iDea Electronics' management team and what they have built, which presents several interesting commercial opportunities, including their power bank and power station technologies. In addition, iDea's sales channel and partners are all global, household names that practically everyone knows. We look forward to following iDea Electronics' progress, both as an advisor and an investor, as they pursue their IPO later in 2022," concluded Mr. Liu.
About iDea Electronics Inc.
Idea Electronics Inc. is a market leader delivering audio, digital video power, outdoor & sports equipment, small kitchen appliances, and home textiles for a broad range of consumer electronics and home environments products. Designed in Southern California and sold in North America, Idea Electronic creates products that empower people through technology, whether at home or on a new adventure. For more information, please visit www.ideausa.com.
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a holding group with business consulting, asset management and investment business with business centers located in Los Angeles, California, Hong Kong, and Shenzhen, China. ATIF mainly provides IPO Advisory Services to small and medium-sized enterprises in Asia and North America. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. ATIF was awarded the "Top 10 Best Listed Companies 2019" from the "Golden Bauhinia Award", the highest award in Hong Kong's financial and securities industry. 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 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 investor and media inquiries, please contact:
In China:
ATIF Holdings Limited
Anna Huang
Tel: +86-139-2726-7157
Email: anna@atifchina.com
In the United States:
Strategic Investor Relations, LLC
Matthew Abenante, IRC
President
Tel: 646-828-8710
Email: matthew@strategic-ir.com
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