ATIF's Investment in Renewable Energy Company Grows at Speed As Demand Expands

·3 min read

LOS ANGELES, Aug. 8, 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 in Solarever Ltd.("Solarever"), a Mexican solar energy and electric vehicle company, has seen a surge in business sales recently. Under the terms of the agreement signed between the Company and Solarever in the second quarter of 2022, ATIF holds a 5.25% equity stake in Solarever.

Since February 2022, global crude oil prices have soared amid increased global demand and due to supply concerns, making the clean energy industry, especially solar, more compelling. Global crude oil prices exceeded $100 per barrel in mid-May 2022 for the first time since 2014. Some energy industry analysts say higher global crude oil, natural gas and electricity prices could potentially be a longer-term catalyst for acceleration of development of renewable energy capacity globally across a variety of technologies including solar, wind and green hydrogen.

Solarever is the leading designer and manufacturer of solar products in Mexico, owns Latin America's largest solar panel manufacturing plant in Tecoman, Colima, Mexico, and has a total of three plants in Mexico that are considered some of the largest in Latin America. Solarever has PV design facility in Chino, California, and warehouse facilities in Laredo, Texas, and San Diego, California. In addition, Solarever launched its first EV in 2022 and is licensed to sell EVs in Mexico.

Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, "We saw the huge potential of the solar PV industry when we provided IPO advisory services to Solarever and took the opportunity to make a investment in Solarever before its IPO. We are very excited to hear good news from Solarever that its sales have dramatically increased! This is probably due to the recent surge in the price of crude oil, natural gas and other energy sources, which has led to a strong demand for clean energy such as solar energy. We are very pleased with Solarever's growth and look forward to a higher level of growth."

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