Puhui Wealth Investment Management Co., Ltd. Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

BEIJING, China, April 22, 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 that the Company had received a notification letter (the “Notification Letter”) dated April 13, 2022 from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) regarding a failure to meet Nasdaq’s minimum bid price requirements. The Notification Letter informed the Company that the minimum closing bid price per share for its ordinary shares was below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.