Puhui Wealth Investment Management Co., Ltd. Announces Effectiveness of Share Consolidation at the Ratio of 1-for-6

BEIJING, China, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Puhui Wealth Investment Management Co., Ltd. (Nasdaq: PHCF) (“Puhui” or the “Company”), a China-based third-party wealth management service provider with a focus on wealth management services for high net worth (“HNW”) individuals and corporate clients, today announced the effective date of a share consolidation of the Company (the “Share Consolidation”), where every six (6) issued and unissued existing ordinary shares of US$0.001 par value each will be consolidated into one ordinary share of a par value of US$0.006 each and every six (6) issued and unissued preferred shares of US$0.001 par value each will be consolidated into one preferred share of a par value of US$0.006 each. All fractional shares will be rounded up to the next whole number.