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 90% from last year's record of RMB4.466 billion, and far exceeded the same period in 2017 and 2018. In addition, CTR Market Research shows that in the recent October, the proportion of movie advertising soared 224.7%, taking the top spot in channel advertising with an absolute lead and becoming the most intensive advertising channel.
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
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