ATIF Holdings Limited Expects Box Office Revenue to Hit Over $1 Million in Q3 2020 As Its Cinemas Officially Resume Operation from August 5

SHENZHEN,China,Aug.5,2020 -- ATIF Holdings Limited (Nasdaq: ATIF,the "Company"),a company providing business consulting and multimedia services in Asia,today announced that its majority-owned subsidiary,Leaping Group Co.,Ltd. ("LGC"),a leading multimedia,advertisingand theatre operating firm in Northeast China,has fully resumedoperations of its cinemas with all new films also getting released from 5 August,2020,asofficially informed by localofficials.

LGC is the cinema operator that owns the most (four cinemas) number of film theaters in Shenyang,capital city of Liaoning Province,and the Company expects LGC theaters' box office will hit over $1 million inthe third quarteras its cinemas reopen from August 5.In addition,the Company's businesses in the four segments including film advertising,film promotion video production,cinema operation and investment,press and marketing services have also resumed working in full swing that aim for strong performance during the rest of this year.

Mr. Bo Jiang,the Chairman of LGC commented,"China's film industry gradually regained vitality since 20 Julywhen we see astable increase in the volume of online ticket bookingafter thecentralgovernmentgave green lighttoallow cinemas to reopenacross the country.The upcoming NationalHoliday is also one of the most important periods for China's film industry over the year. A lot more new blockbuster films will announce their screening date in August and September which are likely to be scheduled during this important period. We can expect thatwewill see great growthontheatre operation businessin the secondhalf of this year."

A series of high-qualityChinese and internationalfilms arescheduled to be screened,including but are not limited to:The Eight Hundred,Bad Boys 3,Sonic,1917,Interstellar andFordv.Ferrari,among which "The Eight Hundred" was alsobeing tagged as the"light"of the post-pandemic resurgence of China's film industry.Some commentators even believeThe Eight Hundred is the mostprominent andmeaningful film of the year,if it was not due to Covid-19 that forced the film to postpone its screen date as cinemas nationwide were shut down since early 2020,it's box office could yieldRMB5 billion this year.Now it has set the box office goal atRMB3 billionthis year,whichshall send positive signals for promising revenue growth to the Chinese film industry.

About ATIF Holdings Limited

Headquartered inShenzhen,ATIF Holdings Limited ("ATIF") is a company providing business consulting services to small and medium-sized enterprises inAsia,including going public consulting services,international business planning and consulting services,and financial media services.ATIFhas advised several enterprises inChinain their plans to become publicly listed in theU.S.Through its majority-owned subsidiary,Ltd.,ATIFalso provides multimedia services and is engaged in three major businesses,including multi-channel advertising,event planning and execution,film and TV program production and movie theater operations.ATIFoperates the largest pre-movie advertising network inHeilongjiang ProvinceandLiaoning ProvinceofChinaand also provides advertising services in elevators and supermarkets.ATIFis often hired to plan both online and offline advertising campaigns and to produce related advertising material. In addition,ATIFinvests in films and TV programs and distributes them in movie theaters or through online platforms.ATIF is also one of majority shareholders ofAeroCenturyCorp. (NYSE American: ACY) which is an independent global aircraft operating lessor and finance company specializing in leasing regional jet and turboprop aircraft and related engines to airlines and commercial users worldwide.For more information,please visithttps://ir.atifchina.com/.

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 notguaranteeof 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;abilityto compete in an industry with low barriers to entry; ability to continue to operate through our VIE structure; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new 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; and other factors listed in the Company's annual report on Form 20-F and otherdocumentsfiled with the Securities andExchange 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 notrely 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.

For more information,please contact Investor Relations at:

EverGreenConsulting Inc.

Janice Wang

+86-13811768559

+1-908-510-2351

IR@changqingconsulting.com

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