IRVINE,
Calif., Oct. 20, 2023 /PRNewswire/ -- ATIF
Business Management LLC, a subsidiary of ATIF Holdings Limited
(NASDAQ: ATIF, the "Company" or "ATIF"), has successfully guided
Northann Corp. (hereinafter referred to as Northann) to list on the
New York Stock Exchange.
According to the prospectus, Northann will offer 3 million
shares at a price of $3 to
$5 each, and is expected to raise
$9 to $15
million. The stock symbol is "NCL". On the opening day, the
highest price reached $5.
As a one-stop decoration solutions provider, Northann provides
customers with additive manufacturing (commonly known as 3D
printing), as well as the mass production of innovative
construction solutions. The company's robust portfolio of
manufacturing solutions relies on the use of inks, coatings,
resins, soundproofing pads, glues, and other raw materials to
create a variety of flooring, upholstery, and other products for
its customers. Northann's revenue primarily consists of the
wholesale and retail of vinyl flooring products, which are marketed
and sold primarily in the United
States and Canada, and the
company serves customers throughout North
America (primarily the United
States and Canada),
Europe and other regions.
For the six months ended June 30,
2023 and June 30, 2022,
Northann's revenue was $7,276,623
compared to $14,326,585 in the same
period last year, according to the disclosure in the
prospectus.
For the six months ended June 30,
2023, Northann's gross profit was $2,152,706, compared to $2,090,684 for the same period in 2022. Gross
profit margin increased from 14.59% for the six months ended
June 30, 2022 to 29.58% for the six
months ended June 30, 2023, resulting
in improved production efficiency.
For the years 2020-2022, the company's revenue was $13,094,087, $34,525,344 and $20,957,972, respectively, and the corresponding
net profit for the period was $444,099, $322,682
and $929,059, respectively.
As of the date of the prospectus, the total number of ordinary
shares and preferred shares held by the CEO of Northann is
14,430,000 shares and 5,000,000 shares, with 92.04% voting
rights.
Jun Liu, President, Chairman of
the Board and Chief Executive Officer of ATIF, said, "It is a
pleasure to participate in the NYSE listing of Northann. As a
consultant, I look forward to seeing the additional resources and
opportunities that Northann will have to drive the company's growth
and innovation after the listing on the NYSE. "The listing is not
only a recognition of our past achievements, but also a new
starting point for our future development."
About ATIF
ATIF Holdings Limited (NASDAQ: ATIF) is a Lake Forest-based business consulting company
that specializes in providing professional IPO, M&A advisory
and post-IPO compliance services to small and medium-sized
companies seeking to go public on a stock exchange in the United States. The company has a proven
track record in successfully delivering comprehensive U.S. IPO
consulting services to clients primarily in the United States but also internationally.
The mission of ATIF is to provide one-stop, comprehensive
consulting services that guide clients through the complex and
often challenging process of going public. ATIF recognizes the
complexity and challenges associated with the process of going
public, and endeavors to simplify it while ensuring optimal
outcomes for its clients through its comprehensive consulting
services. ATIF has been awarded the "Golden Bauhinia Award", the
highest award in the financial and securities industry in
Hong Kong, for "Top 10 Best Listed
Companies".
Forward-Looking Statements
Certain statements 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, "estimated," "projected," Words
such as "expect", "anticipate", "predict", "plan", "intend",
"believe", "seek", "may", "will", "should", "future", "propose" and
variations of these words or similar expressions (or the opposite
of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements do not
guarantee 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 and may cause actual results or achievements to differ
materially from those discussed in the forward-looking statements.
Important factors include future financial and operating results,
including revenues, income, expenses, cash balances and other
financial items; Ability to manage growth and expansion; Current
and future economic and political conditions; The ability to
compete in industries with low barriers to entry; The ability to
obtain additional financing to fund capital expenditure in the
future. Ability to attract new customers and further enhance brand
awareness; Ability to hire and retain qualified management and key
staff; Trends and competition in the financial advisory services
industry; Pandemic or epidemic disease; Except as required by law,
the Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations. Although the Company believes that
the expectations expressed in these forward-looking statements are
reasonable, the Company 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 expected results
expressed or implied by the forward-looking statements we make. You
should not interpret forward-looking statements as predictions of
future events. Forward-looking statements represent only the
beliefs and assumptions of our management as of the date such
statements are made. The above forward-looking statements are made
as of the date of this press release.
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SOURCE ATIF Holdings Limited