Puyi Inc. to Hold Extraordinary General Meeting On February 22, 2024

GUANGZHOU, China, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Puyi Inc. (NASDAQ: PUYI) (“Puyi” or the “Company”), a leading third-party wealth management services provider in China, today announced it will hold an extraordinary general meeting (“EGM”) of shareholders at its executive office at 61F, Pearl River Tower, No. 15 Zhujiang West Road, Zhujiang New Town, Tianhe, Guangzhou, Guangdong Province, People’s Republic of China on February 22, 2024 at 10:00 a.m. (Beijing time). Holders of record of ordinary shares of the Company at the close of business on January 9, 2024 (New York time), or their proxy holders, are entitled to vote at the EGM or any adjournment or postponement thereof. Holders of the Company’s American depositary shares (“ADSs”) who wish to exercise their voting rights for the underlying ordinary shares must act through the depositary of the Company’s ADS program, Deutsche Bank Trust Company Americas.

The purpose of the EGM is for the Company's shareholders to consider, and if thought fit, pass and approve the following special resolutions to:

(i) change the Company’s English name from Puyi Inc. to Huapu Inc. and the Company’s Chinese name from 普益有限公司to 华普控股集团有限公司. After the name change, the Company also intends to change its ticker symbol from “PUYI” to “HPH”;

(ii) amend the Articles to amend the authorized share capital of the Company from US$2,000,000 divided into 2,000,000,000 Ordinary Shares of a nominal or par value of US$0.001 each to US$2,000,000 divided into (1) 1,950,000,000 Ordinary Shares of a nominal or par value of US$0.001 each and (2) 50,000,000 Preference Shares of a nominal or par value of US$0.001 each, and each holder of the Preference Shares shall have twenty (20) votes for each Preference Share;

(iii) amend the Articles to reflect the exemption of the Company from holding an annual general meeting in each year; and

(iv) replace the existing Articles in their entirety with a new memorandum and articles of association of the Company to reflect aforementioned change.

These changes will not affect any rights of shareholders or the Company's operations and financial position.

The notice of the EGM and voting instruction card for ADS holders are available on the Investor Relations section of the Company's website at https://ir.puyiwm.com/.

About Puyi

Established in 2010 and listed on Nasdaq in 2019, Puyi is a comprehensive financial technology service group based on family financial asset allocation. It focuses on providing personalized wealth management services for emerging middle-class and affluent families, comprehensive support services for financial planners, and diversified financial services for institutional clients.