Puhui Wealth Investment Management Co., Ltd. Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

BEIJING, China, April 22, 2022 (Globe NEWSWIRE) — Puhui Prosperity Investment decision Management Co., Ltd. (NASDAQ: PHCF) (“Puhui” or the “Company”), a China-centered third-get together wealth administration support company with a target on wealth administration providers for higher internet really worth (“HNW”) folks and company purchasers, these days declared that the Enterprise had obtained a notification letter (the “Notification Letter”) dated April 13, 2022 from the Listing Skills Office of The Nasdaq Inventory Marketplace LLC (“Nasdaq”) relating to a failure to meet Nasdaq’s bare minimum bid rate needs. The Notification Letter educated the Business that the minimum closing bid price tag for each share for its normal shares was below $1.00 for a time period of 30 consecutive organization times and that the Enterprise did not satisfy the minimum bid rate necessity set forth in Nasdaq Listing Rule 5550(a)(2). This push release is issued pursuant to Nasdaq Listing Rule 5810(b), which demands prompt disclosure of receipt of a deficiency notification.

The Notification Letter has no rapid influence on the listing or investing of the Company’s standard shares on the Nasdaq Cash Market place.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Business has a compliance interval of 180 calendar days, or right up until Oct 10, 2022 (the “Compliance Period”), to regain compliance with Nasdaq’s minimum amount bid price necessity. If at any time through the Compliance Period, the closing bid value for each share of the Company’s everyday shares is at minimum $1.00 for a minimum of 10 consecutive business enterprise days, Nasdaq will provide the Corporation a prepared confirmation of compliance and the make a difference will be closed.

In the occasion the Business does not get back compliance by October 10, 2022, the Firm may possibly be eligible for an further 180 calendar day period to get back compliance. To qualify, the Business will be required to meet up with the continued listing necessity for sector benefit of publicly held shares and all other preliminary listing standards for the Nasdaq Cash Current market, with the exception of the bid price prerequisite, and will need to have to supply penned notice of its intention to overcome the deficiency through the second compliance interval, like by effecting a reverse stock break up, if needed. If the Organization chooses to implement a reverse stock break up, it ought to finish the split no later than 10 small business days prior to October 10, 2022, or the expiration of the 2nd compliance period if granted.

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About Puhui Wealth Investment Administration Co., Ltd.

Headquartered in Beijing, the Business, incorporated beneath the legislation of Cayman Islands as a keeping company, is a third-occasion prosperity management company supplier focusing on marketing fiscal merchandise to, and running funds for, HNW people today and corporate purchasers in the People’s Republic of China (“PRC” or “China”), with the main functioning routines carried out via the variable curiosity entity Puhui Prosperity Investment decision Management (Beijing) Co. Ltd (“Puhui Beijing”), or the VIE, and its subsidiaries in China. Extra facts about the Company can be identified at: www.puhuiwealth.com.

Ahead-On the lookout Statements

This press release consists of forward-searching statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-wanting statements contain statements relating to options, goals, goals, approaches, foreseeable future functions or overall performance, and fundamental assumptions and other statements that are other than statements of historical points. When the Organization takes advantage of terms these kinds of as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “project”, “estimate” or equivalent expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company’s statements regarding its ongoing growth, company outlook, and other equivalent statements are forward-seeking statements. Forward-on the lookout statements are not assures of future functionality and require challenges and uncertainties that may well lead to the true final results to vary materially from the Company’s expectations reviewed in the ahead-on the lookout statements. These statements are subject matter to uncertainties and threats which include, but not constrained to, the subsequent: the Company’s goals and tactics the Company’s potential enterprise growth solution and services desire and acceptance adjustments in technologies financial conditions standing and manufacturer the impression of competition and pricing authorities restrictions fluctuations in basic financial and organization disorders in China and assumptions underlying or relevant to any of the foregoing and other challenges contained in reviews submitted by the Enterprise with the Securities and Trade Fee, which include the Company’s most a short while ago filed Yearly Report on Type 20-F and its subsequent filings. For these explanations, amongst many others, investors are cautioned not to spot undue reliance upon any forward-seeking statements in this press launch. More factors are talked over in the Company’s filings with the U.S. Securities and Exchange Fee, which are out there for evaluation at www.sec.gov. The Enterprise undertakes no obligation to publicly revise these forward-searching statements to reflect situations or situations that crop up following the date hereof.

For a lot more information and facts, please speak to Investor Relations:

Ascent Investor Relations LLC
Tina Xiao, President
Tel: +1 917-609-0333
E mail: [email protected]