ATIF Holdings Announces Investment in Phoenix Motor Inc. IPO
Summary
IRVINE, Calif., June 22, 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 it has deepened its investments in emerging technology companies with an investment in Phoenix Motor Inc. (Nasdaq: PEV) an electric drive system and vehicle maker.Founded in 2003, Phoenix Motor designs, assembles, and integrates electric drive systems and electric vehicles (EVs), and markets and sells EV chargers for the commercial and residential markets. It is currently in production of its third-generation drivetrain, which includes the largest battery pack and longest electric range for any Class 4 product on the market, offering up to 160 miles in range.Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, "We are excited to be an investor in Phoenix Motor Inc., based on my strong belief in their growth prospects. ATIF mainly provides IPO Advisory Services to small and medium-sized enterprises in Asia and North America. 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 Companys 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 Companys ongoing NFT services may be adversely affected by other economic, business, and/or competitive factors; and other factors listed in the Companys 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.