ATIF Holdings Limited (NASDAQ: ATIF) has announced Tuesday that it has signed a Letter of Intent (LOI) to buy equity interest in Xi’an Green Fun Technology Co., Ltd. As per the Letter of Intent, ATIF Holdings has decided to purchase 51% interest in Xi’an Green Fun Technology. Xi’an Green Fun Technology is involved in the research, development, and manufacturing of illuminated air purifier products.
ATIF will pursue this proposed transaction after the legal reviews and approval of the boards of directors of both companies. The transaction will be executed after the final acquisition agreement between the two companies. ATIF Holdings Limited has chosen the Xi’an Green Fun Technology Co., Ltd. because of its research, development, and various operational activities.
ATIF Holding is positive about the specific target market of illuminated air purification. The 51% interest in Green Fun will provide growth opportunities to ATIF Holdings in the future. The demand for air purification products soared after the pandemic has hit the countries around the globe.
ATIF Holding revealed that the company is striving to evaluate the market opportunities to achieve the sustainable growth of our business.
Shares of ATIF Holdings Limited (NASDAQ: ATIF) traded up 0.82% at $1.42 during the trading session of Tuesday. In the past 52-weeks of trading, this company’s stock fluctuated between the low of $1.00 and a high of $3.75. It has traded up 42.16% from its 52-weeks low and moved down -62.09% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 4.60.
ATIF Holdings Limited market capitalization has remained high, hitting $63.51 million at the time of writing. ATIF Holdings has earlier revealed that its majority-owned subsidiary, Leaping Group Co., Ltd.has invested in the production of ‘Macao Stories’, an anti-gambling themed film. The film is scheduled to release in the fourth quarter of 2020.