Puhui Wealth Investment Management Co., Ltd. Nasdaq announces that it has received the delisting notice and plans to appeal. | Job Binary


Puhui Wealth Investment Management Co., Ltd.

Puhui Wealth Investment Management Co., Ltd.

BEIJING, China, Oct. 17, 2022 (GLOBE NEWSWIRE) — Puhui Wealth Investment Management Co., Ltd. (Nasdaq: PHCF) (“Puhui” or the “Company”), a China-based third-party wealth management service provider focused on wealth management services for high net worth (“HNW”) individuals and corporate clients, today announced the Company’s October 11, 2022 Listing Qualification informed that he received the letter of identification of employees (“Letter”) from the department. Nasdaq Stock Market LLC (“Nasdaq”) hereby informs the Company that Nasdaq employees (“Employees”) have been identified as having failed to meet the minimum price requirement set forth in Nasdaq Listing Rule 5550(a). (2) (the “Rule”) and is not entitled to a second 180-day period, unless the Company requests an appeal of this decision, the Company’s common stock is scheduled for delisting from the Nasdaq Capital Market and will remain suspended on the following day. business opening on October 20, 2022.

The Company intends to appeal the employee’s decision to a hearing panel (the “Advisor”) in due course. Such a request shall leave the suspension of the Company’s ordinary shares and filing of Form 25-NSE pending the decision of the Board. During the period prior to the hearing, the Company’s common stock will continue to trade on Nasdaq. In addition, the Company plans to implement a share consolidation to restore compliance.

At the hearing, the Company intends to present to the Council its plan to restore compliance with the Regulation. However, there can be no assurance that the Company will receive an extension from the Board to restore compliance or, if the Board grants such an extension, that the Company will be able to demonstrate compliance with the Rule before the expiration of the extension. .

about Puhui Wealth Investment Management Co., Ltd.

Headquartered in Beijing and incorporated as a holding company under the laws of the Cayman Islands, the Company is a third-party wealth management service provider focused on marketing financial products and managing funds to HNW individuals and corporate clients in the People’s Republic of Kazakhstan. China (“PRC” or “China”), the principal operating entity of which is the variable interest Puhui Wealth Investment Management (Beijing) Co. Ltd (“Puhui Beijing”) or VIE and its subsidiaries in China. More information about the company can be found at: www.puhuiwealth.com.

Forward-looking statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events or results, as well as key assumptions and other statements. telling historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that are not exclusive. makes forward-looking statements regarding historical matters. In particular, the Company’s statements regarding its continued growth, business prospects and other similar statements are forward-looking statements. Forward-looking statements are not guarantees of future results and involve risks and uncertainties that could cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including but not limited to: the Company’s objectives and strategies; development of future business of the company; demand and acceptance of products and services; changes in technology; economic conditions; reputation and brand; competition and price effects; state regulatory acts; Assumptions based on or related to any of the above and other risks contained in the Company’s filings with the Securities and Exchange Commission, including fluctuations in general economic and business conditions in China and the Company’s most recent Annual Report on Form 20-F. its subsequent applications. For these reasons, among others, investors are cautioned not to place undue reliance on forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the US Securities and Exchange Commission, which are available at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date hereof.

For more information, please contact Investor Relations:

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



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