BEIJING, China, Jan. 7, 2021 /PRNewswire/ -- Puhui Wealth
Investment Management Co., Ltd. (Nasdaq: PHCF) ("Puhui" or the
"Company"), a third-party wealth management service provider with a
focus on wealth management services for high net worth ("HNW")
individuals and corporate clients as well as asset management,
today announced the Company will formally initiate an international
development strategy beginning with expansion in the Hong Kong market. The Company's goal is to
maximize the benefits of holding Hong
Kong securities licenses that it acquired as part of the
acquisition of Granville Financial Services Company Ltd.
("Granville"), a registered Exchange Participant of The Stock
Exchange of Hong Kong Ltd..
Following the closing of the Granville acquisition and throughout
2020, Puhui has focused on expanding its wealth and asset
management services to include international regions as a
complement to its business in mainland China. Puhui holds Type 1 (Dealing in
securities), Type 2 (Dealing in futures contracts) and Type 9
(Asset management) of regulated activities licenses from the
Securities and Futures Commission through Granville, and has
positioned the Company to take advantage of a burgeoning
Hong Kong securities market on
behalf of its investor clientele.
Mr. Zhe Ji, Chairman and CEO of
Puhui, stated, "Over the last year, we have worked to position
Puhui to take advantage of the substantial growth in wealth
management services in the Hong
Kong market. With the addition of securities licenses
acquired in the Granville acquisition, we feel that we can market
our existing product portfolio to a wider customer base while also
taking advantage of Hong Kong's
strategic significance and market opportunity. Over the next year,
Puhui anticipates taking advantage of further opportunities through
direct investments in potential IPOs on the Hong Kong capital market on behalf of our
clientele, which will add further optionality for our investment
exposure to a differentiated market."
As the international financial center and the world largest
off-shore RMB business center, Hong
Kong has a robust demand in cross-border financial
businesses and related capital market services through its
Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock
Connect, as well as Bond connect. According to the statistics of
Hong Kong Exchanges ("HKEX"), as of November
30, 2020, 2,528 companies are listed, with 132 having
completed an IPO in 2020. The average daily transaction valued
128.4 billion HKD (increasing 46%
compared to 88.2 billion HKD in the
prior year). The market value is 45.7
trillion HKD (increasing 28% compared to 35.7 billion HKD in the prior year); the average
daily future transaction is 420,114 contracts, an increase of 8.2%
compared to 388,295 contracts in October
2020.
About Puhui Wealth Investment Management Co., Ltd.
Headquartered in Beijing, China,
Puhui was founded in 2013, which is a third-party wealth management
service provider focusing on marketing financial products
(including private equity and other diversified products and
services) to, and managing funds for, individuals and corporate
clients in the PRC. On December 27,
2018, the Company's ordinary shares were listed and began
trading listed on the Nasdaq Capital Market (Nasdaq: PHCF).
Additional information about Puhui can be found at the Company's
corporate website: www.puhuiwealth.com.
Forward Looking Statements
This news release contains "forward-looking statements" within the
meaning of the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook",
and "project" and other similar expressions that indicate future
events or trends or are not statements of historical matters. These
statements are based on our management's current expectations and
beliefs, as well as a number of assumptions concerning future
events.
Such forward-looking statements are subject to known and unknown
risks, uncertainties, assumptions and other important factors, many
of which are outside of our control and all of which could cause
actual results to differ materially from the results discussed in
the forward-looking statements. Accordingly, forward-looking
statements should not be relied upon as representing our views as
of any subsequent date, and we do not undertake any obligation to
update forward-looking statements to reflect events or
circumstances after the date they were made, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws. Factors that could cause
actual results to differ materially from those expressed or implied
in forward-looking statements can be found in our reports filed
with the Securities and Exchange Commission, which are
available, free of charge, on the SEC's website
at www.sec.gov.
Investor
Relations:
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The Equity Group
Inc.
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In China
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Adam
Prior
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Lucy Ma
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(212)
836-9606
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+86 10 5661
7012
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aprior@equityny.com
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lma@equityny.com
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SOURCE Puhui Wealth Investment Management Co., Ltd.