IRVINE, Calif., August 15, 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 America, is pleased to announce that IPO advisory services client and investment holding company Armstrong Logistic Inc. (“Armlogi”), a leading US freight forwarding and logistics company United States, has recently seen strong growth in its performance. Under the terms of the investment agreement between Armlogi and the Company, ATIF holds a 12.0% interest in Armlogi.
Armlogi is the leading international provider of smart warehouse logistics services, including warehouse distribution, 3PL fulfillment and multi-channel fulfillment services, independent logistics company, customs clearance company and rail car company of goods serving the port of Los Angeles, San DiegoLAX and all major gateways to and from Southern California. Armlogi Certified Logistics and Warehousing is located at City of Industry, California; Houston, TX; and Florence, New Jersey, with 1,500,000 square feet of full-service EDI (electronic data interchange) compliant space. Armlogi’s Multi-Channel Fulfillment (MCF) service integrates with Amazon, Ebay, FedEx, Jet, Groupon, Shopify, Walmart, Wayfair, Woo Commerce and other leading platforms, supporting 96% of the execution of online e-commerce platforms.
Warehousing and logistics companies have had to adapt and evolve to changing market trends and the growing need for expedited deliveries. Faced with the impact of inflation on the freight forwarding and logistics industry this year, Armlogi has developed flexible operational strategies. Through an assessment of its own inventory levels, warehousing capacity, utilization rates and transportation capabilities, Armlogi adopted strategies such as reducing unnecessary costs and introducing new opportunities of growth, and actually performed very well.
A growing number of companies are relying more on outsourcing various logistics functions including transportation, warehousing, and distribution, thus fueling the growth of the 3PL market. According to data from Statista, over the past 10 years, 3PL market revenue has doubled over the past 10 years from $127.5 billion at $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.
Jun LiuPresident, Chairman of the Board and Chief Executive Officer of ATIF, said, “We appreciate the innovations and rapid changes in Armlogi’s operations and are very pleased with its strong financial performance. From what we understand, Armlogi’s revenues for the first quarter of 2022 alone exceeded 50% of total revenues in 2021 and revenues for the full year 2022 are expected to increase by three four times from one year to the next! Initial Public Offering.”
About ATIF Holdings Limited
ATIF Holdings Limited (“ATIF”) is a Los Angelescomprehensive financial group with wholly owned and operated subsidiaries: ATIF-1 hedge fund firm, ATIF equity investment firm, ATIF IPO advisory firm and 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 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/.
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