New Century, consulted by ATIF, successfully listed on Nasdaq

Rhea-AI Summary

New Century Logistics (NASDAQ: NCEW), a Hong Kong-based freight forwarding service provider consulted by ATIF Holdings (NASDAQ: ZBAI), has successfully completed its IPO on the Nasdaq Exchange. The company offered 1,500,000 shares at $4.00 per share, aiming to raise $6,000,000. New Century provides comprehensive freight forwarding services, including cargo space sales, pick-up, security screening, palletization, documentation, customs clearance, and port handling. Trading commenced on December 18, 2024. ZBAI's CEO Jun Liu expressed enthusiasm about the listing, viewing it as both a recognition of past achievements and a stepping stone for future growth.

Positive

• Successfully completed IPO on Nasdaq
• Raised $6 million through public offering
• Strategic partnership with ATIF Holdings as consultant

Negative

• Relatively small IPO size of only $6 million
• High dependence on freight forwarding services as single revenue stream

Insights

Financial Analyst

The IPO of New Century Logistics represents a small-cap offering with $6 million in proceeds at $4.00 per share. While achieving a Nasdaq listing is notable, the offering size is relatively modest in the current market environment. For ATIF Holdings, this successful consulting engagement could strengthen their reputation in the IPO advisory space, though the immediate financial impact may be given their market cap of just $7.6 million. The freight forwarding sector has seen increased interest due to global supply chain dynamics, but New Century will need to demonstrate strong execution and growth metrics to stand out in this competitive space. The lack of detailed financial metrics or growth projections in the announcement makes it challenging to assess the company's true potential or the consulting fee impact on ATIF's revenues.

Market Research Analyst

The Hong Kong-based freight forwarding sector positioning is strategically relevant given the current global trade dynamics and Asia's central role in supply chains. However, New Century enters a highly fragmented market where scale and operational efficiency are important differentiators. The $6 million capital raise, while providing some runway, may be insufficient for significant market expansion or technological investments needed to compete with established players. For ATIF Holdings, this successful listing adds to their portfolio of consulting services, but their extremely small market capitalization suggests they need substantially more successful deals to achieve meaningful growth. The timing of the IPO amid current market conditions and geopolitical tensions affecting US-China business relations adds complexity to the growth outlook for both companies.

IRVINE, Calif., Dec. 18, 2024 /PRNewswire/ -- New Century Logistics (BVI) Limited ("New Century")(NASDAQ: NCEW), consulted by ATIF Holdings Limited (NASDAQ: ZBAI, "ZBAI"), is having its initial public offering on the Nasdaq Exchange. New Century is offering of 1,500,000 shares at the open offer price of $4.00 per share to the public, and is about to raise $6,000,000.

New Century Logistics (BVI) Limited is a freight forwarding service provider founded and based in Hong Kong. We provide air and ocean export and import freight forwarding services ranging from the sale of cargo space, cargo pick up, off-airport air cargo security screening, palletization, preparation of shipping documentation, arrangement of customs clearance to cargo handling at ports. New Century is officially began trading on the NASDAQ today with an initial public offering of 1,500,000 shares of common stock, which is expected to close on or about December 18, 2024.

Jun Liu, President, Chairman of the Board and Chief Executive Officer of ZBAI, said, "I am excited to participate in New Century's Nasdaq listing. As New Century 's consultant, I look forward to seeing New Century gain additional resources and opportunities to drive growth and innovation after its listing on Nasdaq. "The listing is not only a recognition of New Century 's past achievements, but also a new starting point for New Century 's future growth."

About New Century Logistics (BVI) Limited

New Century Logistics (BVI) Limited is a freight forwarding service provider founded and based in Hong Kong. Our history can be traced back to 2002 when NCL (HK) was incorporated and when it commenced its operation as a freight forwarder in 2004. We provide air and ocean export and import freight forwarding services ranging from the sale of cargo space, cargo pick up, off-airport air cargo security screening, palletization, preparation of shipping documentation, arrangement of customs clearance to cargo handling at ports. Since our inception, we have offered routes to over 140 countries to our customers. The Company is managed and run by a group of professionals with over 20 years of combined expertise in the air and ocean freight industries in Hong Kong. We have a robust network that works closely with well-established agents to manage both incoming and outgoing traffic for all other nations as well. These representatives are handpicked to maintain a uniformly high standard of service for our clients.

About ATIF Holdings Limited

ATIF Holdings Limited (NASDAQ: ZBAI) is a Lake Forest-based business consulting company that specializes in providing professional IPO, M&A advisory and post-IPO compliance services to small and medium-sized companies seeking to go public on a stock exchange in the United States. The company has a proven track record in successfully delivering comprehensive U.S. IPO consulting services to clients primarily in the United States but also internationally. The mission of ZBAI is to provide one-stop, comprehensive consulting services that guide clients through the complex and often challenging process of going public. ZBAI recognizes the complexity and challenges associated with the process of going public, and endeavors to simplify it while ensuring optimal outcomes for its clients through its comprehensive consulting services. ZBAI has been awarded the "Golden Bauhinia Award", the highest award in the financial and securities industry in Hong Kong, for "Top 10 Best Listed Companies".

Forward-Looking Statements

Certain statements in this press 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, "estimated," "projected," Words such as "expect", "anticipate", "predict", "plan", "intend", "believe", "seek", "may", "will", "should", "future", "propose" and variations of these words or similar expressions (or the opposite of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements do not guarantee 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 and may cause actual results or achievements to differ materially from those discussed in the forward-looking statements. Important factors include future financial and operating results, including revenues, income, expenses, cash balances and other financial items; Ability to manage growth and expansion; Current and future economic and political conditions; The ability to compete in industries with low barriers to entry; The ability to obtain additional financing to fund capital expenditure in the future. Ability to attract new customers and further enhance brand awareness; Ability to hire and retain qualified management and key staff; Trends and competition in the financial advisory services industry; Pandemic or epidemic disease; Except as required by law, the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company 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 expected results expressed or implied by the forward-looking statements we make. You should not interpret forward-looking statements as predictions of future events. Forward-looking statements represent only the beliefs and assumptions of our management as of the date such statements are made. The above forward-looking statements are made as of the date of this press release.

Media Enquiries: 

Kenny Chi
kenny@atifchina.com 

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SOURCE ATIF Holdings Limited

FAQ

How much did New Century Logistics (NCEW) raise in its Nasdaq IPO?

New Century Logistics raised $6 million by offering 1,500,000 shares at $4.00 per share in its Nasdaq IPO.

What is the IPO price of New Century Logistics (NCEW) shares?

New Century Logistics shares were priced at $4.00 per share in the initial public offering.

When did New Century Logistics (NCEW) begin trading on Nasdaq?

New Century Logistics began trading on Nasdaq on December 18, 2024.

What services does New Century Logistics (NCEW) provide?

New Century Logistics provides air and ocean freight forwarding services, including cargo space sales, pick-up, security screening, palletization, documentation, customs clearance, and port handling.

What is ATIF Holdings' (ZBAI) role in New Century's IPO?

ATIF Holdings served as a consultant to New Century Logistics for its Nasdaq IPO listing.