Puyi Inc. Appoints Mr. Yong Ren as Chief Executive Officer

GUANGZHOU, China, Sept. 23, 2019 (GLOBE NEWSWIRE) — Puyi Inc. (“Puyi” or the “Company”) (NASDAQ: PUYI), a leading third-party wealth management service provider in China focusing on mass affluent and emerging middle class population, today announced the appointment of Mr. Yong Ren as its new chief executive officer (the “CEO”) to succeed Mr. Haifeng Yu, the Company’s current CEO, with immediately effect. Mr. Haifeng Yu, being the founder and largest shareholder of Puyi, will work with Mr. Yong Ren to ensure a successful transition.  Mr. Haifeng Yu will remain chairman of the board after the change.