Subsidiaries and Variable Interest Entity Sample Clauses

Subsidiaries and Variable Interest Entity. All direct and indirect Subsidiaries of the Company are duly organized and in good standing under the laws of the place of organization or incorporation, and each Subsidiary is in good standing in each jurisdiction in which its ownership or lease of property or the conduct of business requires such qualification, except where the failure to qualify would not have a material adverse effect on the assets, business or operations of the Company taken as a whole. The Company’s ownership and control of each Subsidiary is as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus. The Company does not own or control, directly or indirectly, any corporation, association or entity other than Puhui Wealth Investment Management (Beijing) Co., Ltd. (“Puhui Beijing”), a variable interest entity (“VIE”) which is a limited liability company incorporated under the laws of the PRC, which the Company controls through contract arrangements as described in the Prospectus (the “VIE Agreements”), a 90.21% economic and voting interest; 100% of the equity interest in PCZ Limited (“PCZ”), a British Virgin Islands exempted limited liability company; HZF (HK) Limited, a limited liability company established under the laws of the Hong Kong Special Administrative Region and wholly-owned subsidiary of PCZ; and Beijing Rucong Enterprise Management and Advisory Co., Ltd. (“Rucong” or “WFOE”), a wholly foreign owned enterprise established under the laws of the PRC and a subsidiary of HZF (HK) Limited.