China

Puhui Wealth to Expand International Development

Puhui Wealth Investment Management, 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, has announced it will formally initiate an international development strategy beginning with expansion in the Hong Kong market.

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."

 

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