ATIF Holdings Limited Invests in Film 'Macao Stories' Releasing in Q4 2020
SHENZHEN, China, Oct. 19, 2020 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company"), a company providing business consulting and multimedia services in Asia, today announced that its majority-owned subsidiary, Leaping Group Co., Ltd. ("LGC"), a leading multimedia and advertising firm in Northeast China, has invested in the production of 'Macao Stories', an anti-gambling themed film that will be released in Q4 2020 on China's Top 3 online video streaming platforms; iQiyi, Tencent Video, and Youku.
According to the China's Internet Audio-Visual Development Research Report 2020 released by China Internet Audio-Visual Program Service Association, the effective playback counts was 9.98 million for each film on streaming platforms in the first half of 2020 and the user penetration rate of iQiyi, Tencent Video and Youku totaled 79.1%. In 2019, the market of online integrated video including internet movie and internet TV series reached RMB102.34 billion, a 15% year-over-year growth. Based on the market statistics and LGC's previous film investment had reached 200% return on investment, LCG expects the broadcast of the 'Macao Stories' on the major streaming platforms will bring in substantial return on investment.
Mr. Jiang Tao, CEO of LGC said, 'Macao Stories' incorporates elements such as Kong Fu and magic and has a casting of both mainland and Hong Kong celebrities that tailors present mainstream consumer appetites. The film 'Macao Stories' skillfully makes use of humorous and intriguing techniques to reflect a more profound social issue in our society. Its artistry and entertaining nature are equally applauded by professional commentators during the pre-view.
"We have seen how Covid-19 is accelerating development of video streaming platforms. In North America, globally famous media streaming platforms such as Netflix, Hulu, HBO Max and Disney+ etc., have all had exponential growths during the epidemic period. Nowadays more and more content creators and film production companies have realized the importance of such platforms. We also believe this trend will make an impact on Chinese market too, which is also likely to transform the film distribution market in a great way. We anticipate that this film will become one of LGC's signature works," Mr. Jiang added.
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 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/.
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.
Related Links :