Puhui Wealth Investment Management to Expand International Development Following Acquisition of Granville Financial Services Company

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 futures 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.

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