BEIJING, Jan. 19, 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 that two of the Company's portfolio investments successfully completed Initial Public Offerings (IPOs) on the Hong Kong Exchanges and Clearing Market ("HKEX"), including one in November 2019 and the other in October 2020.
The Company has seen considerable growth in the medical and health sectors over the past few years, especially after the impact of the global pandemic on the Chinese economy, leading to an increased emphasis on medical services that can be administered both in-person and remotely. Puhui has been able to invest in the early stages of development for many of these healthcare companies since 2018.
Since its founding, Puhui has invested in 16 medical projects on behalf of its clients, with two IPOs. The range of specific sectors within the healthcare industry include: biotech (original drugs, cellular immunotherapy, human/animal vaccines and biosimilars), medical equipment, and medical services.
Mr. Zhe Ji, the Chairman and CEO of the Company, stated, "Our goal as a diversified wealth and asset manager is to generate favorable returns for our clientele through Puhui's ability to find early-stage investments in a variety of sectors. We have been very pleased to see our healthcare investments culminated in successful IPOs in the last two years. Looking ahead, we expect to deploy additional capital into this sector due to high demand for plague prevention products following the COVID-19 pandemic. In addition, there is a large number of aging populations worldwide that have a high medical service demand. And finally, companies are increasingly monetizing their operations through successful public offerings on China's stock exchange, the Hong Kong Stock Exchange, and European and U.S. capital markets. This could provide a clear and defined development strategy for Puhui and its investors."
About Puhui Wealth Investment Management Co., Ltd.
Headquartered in Beijing, China and founded in 2013, Puhui 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 on the Nasdaq Capital Market (ticker: PHCF).
Additional information about Puhui can be found at the Company's corporate website: www.puhuiwealth.com.
Forward Looking Statement
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:
The Equity Group Inc. In China
Adam Prior, Senior Vice President Lucy Ma, Associate
(212) 836-9606 +86 10 5661 7012
aprior@equityny.com lma@equityny.com
