Thursday, December 8, 2022

Puhui Wealth Funding Administration Co., Ltd. Declares

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BEIJING, China, Nov. 21, 2022 (GLOBE NEWSWIRE) — Puhui Wealth Funding Administration Co., Ltd. (Nasdaq: PHCF) (“Puhui” or the “Firm”), a China-based third-party wealth administration service supplier with a give attention to wealth administration companies for prime web price (“HNW”) people and company purchasers, at present introduced that the Firm had acquired a employees willpower letter (the “Letter”) on November 16, 2022 from the Itemizing {Qualifications} Division of The Nasdaq Inventory Market LLC (“Nasdaq”) notifying the Firm of its noncompliance with the Nasdaq Itemizing Rule 5250 (c)(1) for continued itemizing resulting from its failure to file its Kind 20-F for the fiscal 12 months ended June 30, 2022, which serves as an extra foundation for delisting the Firm’s securities from The Nasdaq Inventory Market along with the Firm’s noncompliance with the Nasdaq’s minimal bid value requirement beneath the Nasdaq Itemizing Rule 5550(a)(2) (the “5550 Rule”) as beforehand disclosed on a Kind 6-Ok filed by the Firm on April 22, 2022 and October 17, 2022, respectively.

Underneath the Nasdaq guidelines, a Firm that receives a delist willpower for delinquency can request an attraction to a Hearings Panel (the “Panel”), pursuant to the procedures set forth within the Nasdaq Itemizing Rule 5800 Collection. A request for a listening to relating to a delinquent submitting will keep the suspension of the Firm’s securities just for a interval of 15 days from the date of the request. Because the Firm had already appeared earlier than the Panel on November 17, 2022 for its failure to adjust to the 5550 Rule, with the submitting deficiency additionally addressed earlier than the Panel, the Firm plans to make, if needed, an additional submission to remain any suspension sooner or later previous to the willpower of the Panel.

About Puhui Wealth Funding Administration Co., Ltd.

Headquartered in Beijing, the Firm, included beneath the legal guidelines of Cayman Islands as a holding firm, is a third-party wealth administration service supplier specializing in advertising monetary merchandise to, and managing funds for, HNW people and company purchasers within the Individuals’s Republic of China (“PRC” or “China”), with the primary working actions performed by way of the variable curiosity entity Puhui Wealth Funding Administration (Beijing) Co. Ltd (“Puhui Beijing”), or the VIE, and its subsidiaries in China. Extra details about the Firm might be discovered at: www.puhuiwealth.com.

Ahead-Trying Statements

This press launch incorporates forward-looking statements as outlined by the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements embody statements regarding plans, aims, objectives, methods, future occasions or efficiency, and underlying assumptions and different statements which are apart from statements of historic information. When the Firm makes use of phrases comparable to “might”, “will”, “intend”, “ought to”, “consider”, “count on”, “anticipate”, “venture”, “estimate” or related expressions that don’t relate solely to historic issues, it’s making forward-looking statements. Particularly, the Firm’s statements relating to its continued progress, enterprise outlook, and different related statements are forward-looking statements. Ahead-looking statements will not be ensures of future efficiency and contain dangers and uncertainties which will trigger the precise outcomes to vary materially from the Firm’s expectations mentioned within the forward-looking statements. These statements are topic to uncertainties and dangers together with, however not restricted to, the next: the Firm’s objectives and techniques; the Firm’s future enterprise improvement; product and repair demand and acceptance; adjustments in expertise; financial situations; repute and model; the impression of competitors and pricing; authorities laws; fluctuations usually financial and enterprise situations in China and assumptions underlying or associated to any of the foregoing and different dangers contained in experiences filed by the Firm with the Securities and Trade Fee, together with the Firm’s most not too long ago filed Annual Report on Kind 20-F and its subsequent filings. For these causes, amongst others, buyers are cautioned to not place undue reliance upon any forward-looking statements on this press launch. Further components are mentioned within the Firm’s filings with the U.S. Securities and Trade Fee, which can be found for evaluate at www.sec.gov. The Firm undertakes no obligation to publicly revise these forward-looking statements to mirror occasions or circumstances that come up after the date hereof.

For extra data, please contact Investor Relations:

Ascent Investor Relations LLC
Tina Xiao, President
Tel: +1 917-609-0333
E mail: tina.xiao@ascent-ir.com



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