IRVINE,
Calif., Aug. 15, 2022 /PRNewswire/ -- ATIF
Holdings Limited (Nasdaq: ATIF, the "Company," "ATIF" or
"We"), a holding company providing business and financial
consulting services in Asia and
North America, is pleased to
announce that the Company's IPO advisory services client and
investment holding company Armstrong Logistic Inc. ("Armlogi"), a
leading freight forwarding and logistics company in U.S., has
recently seen strong growth in performance. Under the terms
of the investment agreement between Armlogi and the
Company, ATIF holds a 12.0% equity stake in Armlogi.
Armlogi is leading international intelligent warehouse logistics
service provider, including warehouse distribution, 3PL
fulfillment, and multi-channel fulfillment services, self-employed
logistics company, customs clearance company and freight car
company serving the Port of Los
Angeles, San Diego, LAX,
and all major access routes to and from Southern California. Armlogi's certified
logistics and warehousing is located in City of Industry, CA; Houston, TX; and Florence, NJ, with 1,500,000 sq ft of space
that is full-service EDI (Electronic Data Interchange) Compliant.
Armlogi's Multi-Channel Fulfillment (MCF) service integrates with
Amazon, Ebay, FedEx, Jet, Groupon, Shopify, Walmart, Wayfair, Woo
Commerce, and other leading platforms, supporting 96% online
e-commerce platform fulfillment.
Warehousing and logistics companies have had to adapt and evolve
to changing market trends and the growing need for accelerated
deliveries. In the face of the impact of inflation on the freight
forwarding and logistics industry this year, Armlogi has developed
flexible operational strategies. Through an assessment of its own
inventory levels, warehousing capacity, utilization rates and
transportation capabilities, Armlogi adopted strategies such as
cutting unnecessary costs and introducing new growth opportunities,
and effectively delivered very strong performance.
A growing number of enterprises are showing higher reliance
towards outsourcing various logistics functions including
transportation, warehousing, and distribution, thus fueling growth
in the 3PL market. According to data from Statista, in the past 10
years, the 3PL market revenue has doubled over the last 10 years,
increasing from $127.5 billion to
$260.2 billion from 2010 to 2021,
growing at a CAGR of 2.8%. According to MDC Research, the global
3PL market is expected to reach $2,275.6
billion at a CAGR of 8.9% by 2030.
Jun Liu, President,
Chairman of the Board, and CEO of ATIF, commented, "We appreciate
the innovations and rapid shifts of Armlogi's operations and are
very pleased with its strong financial performance. As far as we
understand it, Armlogi's revenues for the first quarter of 2022
alone exceeded 50% of total revenues in 2021 and revenues for the
full year 2022 are expected to jump three to four times year over
year! We expect Armlogi to continue its strong impetus and to
deliver high returns for us and our shareholders in its future
IPO."
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a Los Angeles-based comprehensive financial
group with wholly owned and operated subsidiaries: ATIF-1 hedge
funds company, ATIF equity investing company, ATIF IPO advisory
company, and the integrated financial services network platform
www.IPOEX.com. ATIF is dedicated to providing international
asset securitization services, as well as equity investment and
asset management services to companies around the world. 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/.
To learn more about IPOEX, our financial services platform,
please visit: https://www.ipoex.com/
For more information about NFTDPO, our NFT service division,
please visit https://nftdpo.com/.
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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, complete projects for 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; the
occurrence of any event, change or other circumstances that could
affect the Company's ability to continue successful development and
launch of its NFT collection; the possibility that the Company may
not succeed in developing its NFT platform and business due to,
among other things, changes in the business environment,
competition, changes in governmental regulation, or other economic
and policy factors; the ability of the Company to continue
compliance with the development of applicable regulatory
regulations in connection with blockchain, digital assets and the
NFT industry; the possibility that the Company's ongoing NFT
services may be adversely affected by other economic, business,
and/or competitive factors; 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