Irvine, California, June 6, 2022 -- ATIF Holdings Limited (Nasdaq: ATIF, the “Company,” “ATIF” or “We”) is pleased to announce that it has signed a definitive agreement to provide IPO advisory services to Armstrong Logistic Inc. (“Armstrong Logistic Inc”), a specialized provider of warehouse distribution, 3PL fulfillment, and multi-channel fulfillment services.
Under the terms of the agreement, the Company will receive a certain number of equity stake in Armstrong Logistic Inc and lead the IPO process by utilizing internal staff and engaging third parties in auditing, valuation, stock exchange consulting, investor relations, and other IPO services.
About Armstrong Logistic Inc:
· Leading international intelligent warehouse logistics service provider, including warehouse distribution, 3PL fulfillment, and multi-channel fulfillment services that serve the Port of Los Angeles, San Diego, LAX, and all major access routes to and from Southern California
· Multi–channel capabilities Logistics and warehousing across three facilities throughout the United States (City of Industry, CA, Houston, TX, Florence, NJ), with 1,500,000 sq ft of space with plans for further expansion
· Maintains its own logistics company, customs clearance company, and freight trucking company, providing customers a one-stop-shop solution
· Realized substantial international growth in recent years, fueled by an increased presence in strategic markets together with international partnerships, and a strong focus on innovation and state-of-the-art warehousing capabilities
· Blue chip customer base, including Samyang America, Inc. and Pilot Automotive Inc.
· Respected partners of the United States Postal Service, UPS, FedEx, DHL Express, Estes Express Lines, and other leading shipping companies
· Joined the esteemed Top 3PL Provider list in 2020, compiled by Multichannel Merchant, and is a Fulfillment By Amazon (FBA) partner
· 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
Why it matters:
· Armstrong Logistic Inc has delivered strong financial growth, unaudited revenue increased 956.5% from FY 2020 to FY 2021
· 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
· 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.
· 3PL enables enterprises to gain access to established resource networks and industry expertise, benefitting from optimal cargo turnover, distribution efficiency, superior inventory management, reduced inventory and overall cost economies
Jun Liu, President, Chairman of the Board, and CEO of ATIF, stated, “We are excited to have been engaged by Armstrong Logistic Inc in their pursuit of a public listing that will be a major catalyst for their continued growth. Armstrong Logistic Inc has build an impressive distribution network that spans across the United States, and is a reliable partner across the supply chain. Armstrong Logistic Inc takes a sophisticated approach towards optimizing the entire supply chain management spectrum, including warehouse distribution, 3PL fulfillment, and multi-channel fulfillment, to the benefit of its customers and partners. A public listing will provide greater opportunities in expanding its reach, bolstering its employee base, and enhancing their capabilities to meet the challenges faced in the global supply chain.”
Jacky Chen, CEO of Armstrong Logistic Inc, commented, “We are happy to take this important step in pursuing a public listing of our common stock. Through primarily organic growth, we've been able to expand and strengthen our core capabilities, which has allowed us to serve a more diverse set of customers and end markets. Our vision is to be a global leader of supply chain solutions, while bringing a real value proposition to our customers. We look forward to having Mr. Liu and the team at ATIF help Armstrong Logistic Inc navigate the complex process of becoming a public company.”