GUANGZHOU, China, Oct. 31, 2024 — Highest Performances Holdings Inc. (NASDAQ: HPH) (“HPH” or the “Company”) today announced the results of its extraordinary general meeting of shareholders and separate class meeting of the holders of ordinary shares of the Company (the “Combined Meeting”) held in Guangzhou on October 31, 2024.
At the Combined Meeting, shareholders approved the following resolutions:
(i) to modify the Company’s authorized share capital from US$2,000,000 divided into 2,000,000,000 shares, consisting of (i) 1,950,000,000 Ordinary Shares with a nominal or par value of US$0.001 each (the “Ordinary Shares”); and (ii) 50,000,000 Preference Shares with a nominal or par value of US$0.001 each (the “Preference Shares”), to US$5,000,000 divided into 5,000,000,000 shares, consisting of (i) 4,000,000,000 Class A Ordinary Shares with a nominal or par value of US$0.001 each (the “Class A Ordinary Shares”); and (ii) 1,000,000,000 Class B Ordinary Shares with a nominal or par value of US$0.001 each (the “Class B Ordinary Shares”). All previously issued and outstanding Ordinary Shares will be reclassified as Class A Ordinary Shares. Each Class A Ordinary Share will hold one vote per share, while each Class B Ordinary Share will have 100 votes per share, among other rights, preferences, privileges and restrictions as outlined in the AR M&A (as defined below).
(ii) to replace the Company’s current third amended and restated memorandum and articles of association in their entirety with a new fourth amended and restated memorandum and articles of association of the Company (the “AR M&A”) to reflect, among others, the aforementioned changes; and
(iii) to authorize any director of the Company (the “Director”) to take any and all action deemed necessary to implement the foregoing resolutions as such Director, in his or her absolute discretion, deems fit.
About HPH
Established in 2010 and previously known as Puyi Inc., we have evolved with a vision to become a leading provider of artificial intelligent technology-driven family and enterprise services. Our mission is to enhance the quality of life for families globally by leveraging two primary driving forces: technological intelligence and capital investments. We are dedicated to investing in high-quality enterprises with global potential, focusing on areas such as asset allocation, education and study tours, healthcare and elderly care, and family governance.
We currently hold controlling interests in two leading financial service providers in China. The first is Fanhua Inc., a technology-driven independent financial service platform traded on the Nasdaq. The second is Fanhua Puyi Fund Distribution Co., Ltd., an independent wealth management service provider.
Highest Performances Holdings Inc., formerly known as Puyi Inc., was renamed on March 13, 2024 to reflect its strategic transformation.
Forward-looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When HPH uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “project”, “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from HPH’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: HPH’s ability to obtain proceeds from the Agreement; HPH’s goals and strategies; HPH’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the third-party wealth management industry in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets HPH serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by HPH with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in HPH’s filings with the U.S. Securities and Exchange Commission, which are available for review at . HPH undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
Highest Performances Holdings Inc.
CONTACT: For more information, please contact: Highest Performances Holdings Inc. Tel: +86-20-28866499 Email: ir@puyiwm.com