Puhui Wealth Investment Management Co. Announces Closing of its Initial Public Offering

BEIJING,Dec. 18,2018 -- Puhui Wealth Investment Management Co.,Ltd. (NASDAQ: PHCF) ("Puhui" or "the Company"),a premier third-party wealth management service provider with focus on wealth management services for high net worth individuals and corporate clients,announced the anticipated closing of its initial public offering of its ordinary shares at a price of $6.00 per share on December 20th.The gross proceeds will be in excess of minimum US$8 million.

Joseph Stone Capital,LLC,aglobal provider of brokerage,investment banking,corporate/advisory services,served as sole underwriter and book-running manager for the offering.

The offering of these securities is made only by means of a prospectus.A registration statement relating to these securities being sold in the IPO has been declared effective by the Securities and Exchange Commission on November 6,2018.This press release does not constitute an offer to sell in the United States or the solicitation of an offer to buy,nor shall there be any sale of these securities in any state in which such offer,solicitation,or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

A copy of the final prospectus containing detailed information about Puhui,its management and financial statements may be obtained by contacting Joseph Stone Capital,LLC via email: corporatefinance@josephstonecapital.com,or standard mail at Joseph Stone Capital,LLC 200 Old Country Rd,Ste 610,Mineola,NY 11501,Attn: Investment Banking Department,Cathy Cao.The final prospectus relating to the offering may also be obtained on the Securities and Exchange Commission's Web site at www.sec.gov.

About Puhui Wealth Investment Management Co.

Headquartered in Beijing,China,Puhui Wealth Investment Management Co. is a third-party wealth management service provider focusing on marketing financial products to,and managing funds for,individuals and corporate clients in the PRC. The Company's main operating activities are carried out through Puhui Wealth Investment Management (Beijing) Co.,Ltd. ("Puhui Beijing"),and its subsidiaries.

Additional information about Puhui Wealth Investment Management Co. can be found at the Company's corporate website: www.puhuiwealth.com.

Investor Relations:

The Equity Group Inc.

In China

Adam Prior,Senior Vice President

Katherine Yao,Senior Associate

(212) 836-9606

+86 10 5661 7012

aprior@equityny.com

kyao@equityny.com

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