ATIF Holdings Announces Investment in IPO of Phoenix Motor Inc.

IRVINE, Calif., June 22, 2022 /PRNewswire/ — ATIF Holdings Limited (Nasdaq: ATIF) (the “Company”, “ATIF” or “We”), a holding company providing business and financial advisory services in Asia and North Americais pleased to announce that it has bolstered its investments in emerging technology companies with an investment in Phoenix Motor Inc. (Nasdaq: PEV), a manufacturer of drive systems and electric vehicles.

Founded in 2003, Phoenix Motor designs, assembles and integrates electric drive systems and electric vehicles (EVs), and markets and sells EV chargers for commercial and residential markets. Phoenix Motors converts light and medium duty vehicles to electric vehicles for various service and government fleet markets and serves a wide range of commercial fleet customers. Phoenix delivered its first commercial EV in 2014 and from December 31, 2021, it delivered a total of 104 electric vehicles, consisting of 91 shuttles and 13 work and delivery trucks. It is currently in production of its third-generation drivetrain, which features the largest battery and longest electric range for any Class 4 product on the market, offering up to 160 miles of range.

Jun LiuChairman, Chairman and Chief Executive Officer of ATIF, said, “We are delighted to be an investor in Phoenix Motor Inc., as I strongly believe in their growth prospects. We regularly work with entrepreneurs and start-ups with compelling technologies. We believe Phoenix Motor brings a unique value proposition to ATIF and its shareholders. I am pleased that ATIF participated alongside other investors in their IPO and look forward to their continued growth.

About ATIF Holdings Limited

ATIF Holdings Limited (“ATIF”) is a holding group with business advisory, asset management and investment activities, with offices in Los Angeles, California, hong kongand Shenzhen, China. ATIF mainly provides IPO advisory services to small and medium enterprises Asia and North America. ATIF has advised several companies in China in their plans for listing on the stock exchange in United States. ATIF received the “Top 10 Best Listed Companies 2019” from the “Golden Bauhinia Award”, the highest distinction in that of Hong Kong the financial and securities industry. For more information, please visit https://ir.atifchina.com/.

To learn more about IPOEX, our financial services platform, visit: https://www.ipoex.com/

For more information about NFTDPO, our NFT services division, please visit https://nftdpo.com/.

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Forward-looking statements

Certain statements made in this press 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”, “plans”, “plans”, “intends”, “believes”, “seeks”, “may”, “shall”, “should” , “future”, “propose” and variations of these words or similar expressions (or negative versions of these words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees 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 beyond the control of the Company, which could cause actual results or results to differ materially from those discussed in this n forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, revenues, expenses, 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 where barriers to entry are low; the ability to obtain additional financing in the future to fund capital expenditures; the ability to attract new customers, complete customer projects and further enhance brand recognition; the ability to hire and retain qualified management personnel and key employees; trends and competition in the financial advisory services industry; a pandemic or epidemic; the occurrence of any event, change or other circumstance that may affect the Company’s ability to successfully pursue the development and launch of its NFT collection; the possibility that the Company may not be able to grow its NFT platform and business due to, among other things, changes in the business environment, competition, changes in government regulations or other economic and political factors; the Company’s ability to continue to comply with changes in applicable regulatory regulations relating to blockchain, digital assets and the NFT industry; the possibility that the Company’s ongoing NFT services may be 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 filings with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that these expectations will prove to be correct, and the Company cautions you that actual results may differ materially from anticipated results expressed or implied by forward-looking statements we make. You should not rely on forward-looking statements as predictions of future events. Forward-looking statements represent the beliefs and assumptions of our management only as of the date such statements are made. These forward-looking statements are made as of the date of this press release.

For investor and media inquiries, please contact:

In China:
ATIF Holdings Limited
Anna Huang
Tel: +86-139-2726-7157
E-mail: [email protected]

In United States:
Strategic Investor Relations, LLC
Matthew AbenanteSHOUT
President
Tel: 646-828-8710
E-mail: [email protected]

SOURCE ATIF Holdings Limited

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