Puhui Wealth Investment Management Co., Ltd. Announces Receipt of Nasdaq Hearings Panel’s Determination Notification

BEIJING, China, Nov. 29, 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 determination letter (the “Letter”) on November 22, 2022 from the Hearings Panel (“Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) granting the request of the Company to continue its listing on Nasdaq pursuant to an exception to the continued listing requirements, subject to the following conditions: (1) on or before December 30, 2022, the Company will demonstrate compliance with Listing Rule 5550(a)(2), and (2) on or before February 15, 2023, the Company will have filed a Form 20-F for the fiscal year ended June 30, 2022, with U.S. Securities and Exchange Commission (“SEC”). Any failure to meet the final deadlines established in this determination will result in an immediate delisting of the Company. It is a requirement during the exception period that the Company provide prompt notification of any significant events that occur during this time that may affect the Company’s compliance with Nasdaq requirements. This includes, but is not limited to, any event that may call into question the Company’s ability to meet the terms of the exception granted.