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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
  on March 11, 2024</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>
  
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM S-8</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
  ACT OF 1933</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Puyi Inc.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Exact name of registrant as specified in its
  charter)</I></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
  
  
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Cayman Islands</B></FONT></TD>
      <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Not Applicable</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><I>(State or other jurisdiction of incorporation or organization)</I></FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><I>(I.R.S. Employer Identification Number)</I></FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B>&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>61F, Pearl River Tower</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 15 Zhujiang West Road, Zhujiang New Town,
  Tianhe, Guangzhou</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Guangdong Province, People&rsquo;s Republic
  of China</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Tel: +86-020-28381666</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>(Address of Principal Executive Offices)</I></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2018 Share Incentive Plan and 2024 Share Incentive
  Plan</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Full title of the plan)</I></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
  
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Cogency Global Inc.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>122 East 42nd Street, 18th Floor</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>New York, NY 10168</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>+1 212-947-7200</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>(Name, address, including zip code, and telephone
  number, including area code, of agent for service)</I></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Indicate by check mark whether the registrant is
  a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.
  See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo;
  and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 49%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Large accelerated filer &#9746;</FONT></TD>
      <TD STYLE="width: 2%; padding: 0.25pt">&nbsp;</TD>
      <TD STYLE="width: 49%; padding: 0.25pt 0.25pt 0.25pt 94.75pt"><FONT STYLE="font-size: 10pt">Accelerated filer &#9744;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer &#9744;</FONT></TD>
      <TD STYLE="padding: 0.25pt">&nbsp;</TD>
      <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 94.75pt"><FONT STYLE="font-size: 10pt">Smaller reporting company &#9744;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="padding: 0.25pt">&nbsp;</TD>
      <TD STYLE="padding: 0.25pt">&nbsp;</TD>
      <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 94.75pt"><FONT STYLE="font-size: 10pt">Emerging growth company &#9744;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">If an emerging growth company, indicate by check
  mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
  standards provided pursuant to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act. &#9744;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Copies to:</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Yuanfen Yang<BR> Chief Financial Officer<BR> Puyi Inc.<BR>
  </B> <B>61F, Pearl River Tower</B> <B><BR>
  No. 15 Zhujiang West Road, Zhujiang New Town,<BR>
   Tianhe, Guangzhou<BR>
  </B> <B>Guangdong Province, People&rsquo;s Republic of China<BR>
  </B> <B>Tel: +86-020-28381666</B> &nbsp;</P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXPLANATORY NOTE</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Puyi Inc. (the &ldquo;Registrant&rdquo;) has prepared this registration
  statement (this &ldquo;Registration Statement&rdquo;) in accordance with the requirements of Form S-8 under the Securities Act to register
  (i) 16,806,720 ordinary shares of a par value of US$0.001 each, reserved for issuance under the 2018 Share Incentive Plan (the &ldquo;2018
  Plan&rdquo;) and; (ii) 111,165,518 ordinary shares of a par value of US$0.001 each, reserved for issuance under the 2024 Share Incentive
  Plan (the &ldquo;2024 Plan,&rdquo; together with the 2018 Plan, the &ldquo;Plans&rdquo;).</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 1.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Plan Information</U>*</B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 2.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Registrant Information and Employee Plan Annual Information</U>*</B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Information required by Part I to be contained in the Section 10(a)
  prospectus is omitted from this registration statement in accordance with Rule 428 under the Securities Act and the Note to Part I of
  Form S-8. The documents containing information specified in this Part&nbsp;I will be separately provided to the participants covered by
  the Plans, as specified by Rule&nbsp;428(b)(1) under the Securities Act.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 3.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Incorporation of Documents by Reference</U></B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following documents previously filed by Puyi
  Inc. (the &ldquo;Registrant&rdquo;) with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) are incorporated by reference
  herein:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in">&nbsp;</TD>
      <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">The Registrant&rsquo;s annual report on <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390023078965/f20f2023_puyiinc.htm">Form 20-F</A> (File No.: 001-38813) for the fiscal year ended June 30, 2023 filed on September 25, 2023 pursuant to Section&nbsp;13(a)&nbsp;of the Securities Exchange Act of 1934 (the &ldquo;<B>Exchange Act</B>&rdquo;);</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act by the Registrant, including the Registrant&rsquo;s reports on Form 6-K and amendments to Form 6-K, filed with the Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390023090342/ea189017-6k_puyiinc.htm">November 28, 2023</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390023097832/ea190568-6k_puyiinc.htm">December 22, 2023</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390023098709/ea190745-6k_puyiinc.htm">December 27, 2023</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390024003546/ea191626-6k_puyiinc.htm">January 16, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390024006235/ea192030-6k_puyi.htm">January 25, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390024009345/ea192718-6k_puyiinc.htm">February 2, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390024009807/ea192805-6ka1_puyiinc.htm">February 5, 2024</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390024015104/ea0200262-6k_puyiinc.htm">February 20, 2024</A>; and</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in">&nbsp;</TD>
      <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">The description of the Registrant&rsquo;s securities incorporated by reference in the Registrant&rsquo;s registration statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390019002466/f8a12b021419_puyiinc.htm">Form 8-A</A> (File No. 001-38813) filed with the Commission on February 14, 2019, including any amendment and report subsequently filed for the purpose of updating that description.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All documents subsequently filed by the Registrant
  pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date of this registration statement and prior to the filing
  of a post-effective amendment to this registration statement which indicates that all securities offered have been sold or which deregisters
  all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be part hereof
  from the date of filing of such documents. Any statement in a document incorporated or deemed to be incorporated by reference in this
  registration statement will be deemed to be modified or superseded to the extent that a statement contained in this registration statement
  or in any other later filed document that also is or is deemed to be incorporated by reference modifies or supersedes such statement.
  Any such statement so modified or superseded will not be deemed, except as so modified or superseded, to be a part of this registration
  statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 4.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Description of Securities</U></B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 5.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Interests of Named Experts and Counsel</U></B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 6.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Indemnification of Directors and Officers</U></B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As advised by Walkers (Hong Kong), Cayman
  Islands law does not limit the extent to which a company&rsquo;s articles of association may provide for indemnification of
  directors and officers, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public
  policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. The Registrant&rsquo;s
  second amended and restated memorandum and articles of association, adopted by special resolution passed on November 21, 2018 and
  effective conditional and immediately prior to the completion of the Company's initial public offering of American Depositary Shares
  representing its ordinary shares, provides that the Registrant shall indemnify its directors and officers out of the assets and
  funds of the Company against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or
  sustained by such persons in connection with the execution or discharge of such person&rsquo;s duties, powers, authorities or
  discretions as a director or officer of the Company, otherwise than by reason of such person's own dishonesty, fraud or willful
  default, including without prejudice to the generality of the foregoing, any costs, expenses, losses or liabilities incurred by such
  person in defending (whether successfully or otherwise) any civil proceedings concerning the Registrant or its affairs in any court
  whether in the Cayman Islands or elsewhere.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>
  
  <!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the indemnification agreement, the
  form of which was filed as Exhibit 10.15 to the Registrant&rsquo;s registration statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1750264/000121390018016402/ff12018ex10-15_puyiinc.htm">Form F-1</A>, as amended (File No. 333- 228510),
  the Registrant has agreed to indemnify its directors and officers against certain liabilities and expenses incurred by such persons in
  connection with claims arising from their services as directors or officers of the Registrant.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Insofar as indemnification for liabilities arising
  under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions,
  the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed in the
  Securities Act and is therefore unenforceable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Registrant also maintains a directors and
  officers liability insurance policy for its directors and officers.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 7.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Exemption from Registration Claimed</U></B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 8.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Exhibits</U></B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See the Index to Exhibits attached hereto.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>Item 9.</B></FONT> <FONT STYLE="font-size: 10pt"><B><U>Undertakings</U></B></FONT></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">The undersigned Registrant hereby undertakes:</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.75in">&nbsp;</TD>
      <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">to include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.75in">&nbsp;</TD>
      <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">to reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this registration statement; and</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.75in">&nbsp;</TD>
      <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to that information in the registration statement;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i)
  and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
  in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that
  are incorporated by reference in this Registration Statement;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <!-- Field: Page; Sequence: 5; Value: 1 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT INDEX</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR>
      <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: top; width: 10%"><FONT STYLE="font-size: 10pt"><B>Exhibit<BR>
  Number</B></FONT></TD>
      <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 89%"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390018016402/ff12018ex3-2_puyiinc.htm">Second Amended and Restated Memorandum and Articles of Association of the Registrant, effecitive March 19, 2019 (incorporated by reference to Exhibit 3.2 to the Registrant&rsquo;s registration statement on Form F-1, as amended initially filed with the Securities and Exchange Commission on November 21, 2018 (File No. 333-228510))</A></FONT></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1750264/000121390019001545/ff12018a2ex4-1_puyi.htm">Registrant&rsquo;s specimen share certificate for ordinary shares (incorporated by reference to Exhibit 4.1 to the Registrant&rsquo;s registration statement on Form F-1, as amended (File No. 333-228510) filed with the Securities and Exchange Commission)</A></FONT></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390019020272/f20f2019ex2-5_puyiinc.htm">Deposit agreement, among the Registrant, the depositary and beneficial owners of the American depositary receipts, dated March 27, 2019 (incorporated by reference to Exhibit 2.5 to the Registrant&rsquo;s annual report on Form 20-F filed with the Securities and Exchange Commission on October 14, 2019 (File No. 001-38813))</A> </FONT></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">4.4</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390019020272/f20f2019ex2-5_puyiinc.htm">Form of American Depositary Receipt evidencing American Depositary Shares (included in Exhibit 4.3)</A></FONT></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">5.1*</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="ea0201111ex5-1_puyiinc.htm">Opinion of Walkers (Hong Kong), Cayman Islands counsel to the Registrant, regarding the legality of the ordinary shares being registered</A></FONT></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1750264/000121390018016402/ff12018ex10-27_puyiinc.htm">2018 Share Incentive Plan (incorporated by reference to Exhibit 10.27 to the Registrant&rsquo;s registration statement on the Form F-1, as amended, initially filed on November 21, 2018 (File No. 333-228510))</A></FONT></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">10.2*</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="ea0201111ex10-2_puyiinc.htm">2024 Share Incentive Plan</A></FONT></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">23.1*</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><A HREF="ea0201111ex23-1_puyiinc.htm"><FONT STYLE="font-size: 10pt">Consent of Marcum Asia CPAs LLP, an independent registered public
  accounting firm</FONT></A></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">23.2*</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="ea0201111ex5-1_puyiinc.htm">Consent of Walkers (Hong Kong) (included in Exhibit 5.1)</A></FONT></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">24.1*</FONT></TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><A HREF="#signature"><FONT STYLE="font-size: 10pt">Power of Attorney (included on signature page hereto)</FONT></A></TD></TR>
    <TR STYLE="background-color: White">
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="background-color: rgb(204,238,255)">
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">107*</FONT></TD>
      <TD STYLE="vertical-align: top">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="ea0201111ex-fee_puyiinc.htm">Filing fee table</A></FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Filed herewith.</TD>
  </TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <!-- Field: Page; Sequence: 6; Value: 1 -->
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      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="signature"></A>SIGNATURES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
  Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for
  filing on Form&nbsp;S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly
  authorized, in Guangzhou, Guangdong China, on March 11, 2024.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>P</B></FONT><B>uyi Inc.</B></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="3">&nbsp;</TD></TR>
    <TR>
      <TD>&nbsp;</TD>
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
      <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; vertical-align: bottom"><FONT STYLE="font-size: 10pt">/s/ Hu Yinan</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 60%">&nbsp;</TD>
      <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
      <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt">Name:</FONT>&nbsp;</TD>
      <TD STYLE="width: 31%; text-align: justify"><FONT STYLE="font-size: 10pt">Hu Yinan</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: justify">&nbsp;</TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
      <TD>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vice-Chairman of the Board,</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chief Executive Officer</P></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENTS, that each person
  whose signature appears below constitutes and appoints Hu Yinan with full power to act alone, as his true and lawful attorney-in-fact,
  with the power of substitution, for and in such person&rsquo;s name, place and stead, in any and all capacities, to sign any and all amendments
  (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents
  in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact full power and authority
  to do and perform each and every act and thing requisite and necessary to be done as fully to all intents and purposes as he or she might
  or could do in person, hereby ratifying and confirming all that each said attorney-in-fact may lawfully do or cause to be done by virtue
  hereof.</P>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities Act
  of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities on March 11, 2024.</P>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; text-align: center">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR>
      <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Hu Yinan</FONT></TD>
      <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Vice-Chairman of the Board, Chief Executive Officer</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Hu Yinan</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Peh Chin Hua</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Chairman of the Board</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Peh Chin Hua</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Ren Yong</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Ren Yong</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Kong Youjie</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Kong Youjie</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Luo Jidong</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Independent Director</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Luo Jidong</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Zhai Lihong</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Independent Director</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Zhai Lihong</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Yang Yuanfen</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Yang Yuanfen</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Principal Financial and Accounting Officer)</FONT></TD></TR>
    <TR>
      <TD STYLE="width: 49%">&nbsp;</TD>
      <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
      <TD STYLE="width: 49%; text-align: center">&nbsp;</TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE
  UNITED STATES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the Securities Act of 1933, as amended,
  the undersigned, the duly authorized representative in the United States of Puyi Inc. has signed this registration statement or amendment
  thereto in New York on March 11, 2024.</P>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>Authorized U.S. Representative</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="3">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="3"><B>COGENCY GLOBAL INC.</B></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD COLSPAN="2">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
      <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">/s/ Colleen A. De Vries</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 60%">&nbsp;</TD>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
      <TD STYLE="width: 31%"> <FONT STYLE="font-size: 10pt">Colleen A. De Vries</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">Senior Vice President</FONT></TD></TR>
    </TABLE>
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  <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
  
  <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
  
  <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">II-5</P>
  
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metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "ea0201111-s8_puyiinc.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 57790}]
metadata_filer: {"company-data": {"conformed-name": "PUYI, INC.", "cik": "0001750264", "assigned-sic": "6282", "organization-name": "02 Finance", "irs-number": "000000000", "state-of-incorporation": "E9", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-277814", "film-number": "24736683"}, "business-address": {"street1": "42F, PEARL RIVER TOWER NO. 15, ZHUJIANG", "street2": "WEST ROAD, ZHUJIANG NEW TOWN, GUANGZHOU", "city": "GUANGDONG PROVINCE", "state": "F4", "zip": "510623", "phone": "86 20 29008955"}, "mail-address": {"street1": "42F, PEARL RIVER TOWER NO. 15, ZHUJIANG", "street2": "WEST ROAD, ZHUJIANG NEW TOWN, GUANGZHOU", "city": "GUANGDONG PROVINCE", "state": "F4", "zip": "510623"}}
text: As filed with the Securities and Exchange Commission
  on March 11, 2024
  Registration No. 333-
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT UNDER THE SECURITIES
  ACT OF 1933
  Puyi Inc.
  (Exact name of registrant as specified in its
  charter)
  Cayman Islands
  Not Applicable
  (State or other jurisdiction of incorporation or organization)
  (I.R.S. Employer Identification Number)
  61F, Pearl River Tower
  No. 15 Zhujiang West Road, Zhujiang New Town,
  Tianhe, Guangzhou
  Guangdong Province, People's Republic
  of China
  Tel: +86-020-28381666
  (Address of Principal Executive Offices)
  2018 Share Incentive Plan and 2024 Share Incentive
  Plan
  (Full title of the plan)
  Cogency Global Inc.
  122 East 42nd Street, 18th Floor
  New York, NY 10168
  +1 212-947-7200
  (Name, address, including zip code, and telephone
  number, including area code, of agent for service)
  Indicate by check mark whether the registrant is
  a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.
  See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"
  and "emerging growth company" in Rule 12b-2 of the Exchange Act.
  Large accelerated filer ☒
  Accelerated filer ☐
  Non-accelerated filer ☐
  Smaller reporting company ☐
  Emerging growth company ☐
  If an emerging growth company, indicate by check
  mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
  standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
  Copies to:
  Yuanfen Yang
  Chief Financial Officer
  Puyi Inc.
  61F, Pearl River Tower
  No. 15 Zhujiang West Road, Zhujiang New Town,
  Tianhe, Guangzhou
  Guangdong Province, People's Republic of China
  Tel: +86-020-28381666
  EXPLANATORY NOTE
  Puyi Inc. (the "Registrant") has prepared this registration
  statement (this "Registration Statement") in accordance with the requirements of Form S-8 under the Securities Act to register
  (i) 16,806,720 ordinary shares of a par value of US$0.001 each, reserved for issuance under the 2018 Share Incentive Plan (the "2018
  Plan") and; (ii) 111,165,518 ordinary shares of a par value of US$0.001 each, reserved for issuance under the 2024 Share Incentive
  Plan (the "2024 Plan," together with the 2018 Plan, the "Plans").
  PART I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  Item 1.
  Plan Information
  *
  Item 2.
  Registrant Information and Employee Plan Annual Information
  *
  * Information required by Part I to be contained in the Section 10(a)
  prospectus is omitted from this registration statement in accordance with Rule 428 under the Securities Act and the Note to Part I of
  Form S-8. The documents containing information specified in this Part I will be separately provided to the participants covered by
  the Plans, as specified by Rule 428(b)(1) under the Securities Act.
  1
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3.
  Incorporation of Documents by Reference
  The following documents previously filed by Puyi
  Inc. (the "Registrant") with the Securities and Exchange Commission (the "Commission") are incorporated by reference
  herein:
  (a)
  The Registrant's annual report on
  Form 20-F
  (File No.: 001-38813) for the fiscal year ended June 30, 2023 filed on September 25, 2023 pursuant to Section 13(a) of the Securities Exchange Act of 1934 (the "
  Exchange Act
  ");
  (b)
  All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act by the Registrant, including the Registrant's reports on Form 6-K and amendments to Form 6-K, filed with the Commission on
  November 28, 2023
  ,
  December 22, 2023
  ,
  December 27, 2023
  ,
  January 16, 2024
  ,
  January 25, 2024
  ,
  February 2, 2024
  ,
  February 5, 2024
  and
  February 20, 2024
  ; and
  (c)
  The description of the Registrant's securities incorporated by reference in the Registrant's registration statement on
  Form 8-A
  (File No. 001-38813) filed with the Commission on February 14, 2019, including any amendment and report subsequently filed for the purpose of updating that description.
  All documents subsequently filed by the Registrant
  pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date of this registration statement and prior to the filing
  of a post-effective amendment to this registration statement which indicates that all securities offered have been sold or which deregisters
  all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be part hereof
  from the date of filing of such documents. Any statement in a document incorporated or deemed to be incorporated by reference in this
  registration statement will be deemed to be modified or superseded to the extent that a statement contained in this registration statement
  or in any other later filed document that also is or is deemed to be incorporated by reference modifies or supersedes such statement.
  Any such statement so modified or superseded will not be deemed, except as so modified or superseded, to be a part of this registration
  statement.
  Item 4.
  Description of Securities
  Not applicable.
  Item 5.
  Interests of Named Experts and Counsel
  Not applicable.
  Item 6.
  Indemnification of Directors and Officers
  As advised by Walkers (Hong Kong), Cayman
  Islands law does not limit the extent to which a company's articles of association may provide for indemnification of
  directors and officers, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public
  policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. The Registrant's
  second amended and restated memorandum and articles of association, adopted by special resolution passed on November 21, 2018 and
  effective conditional and immediately prior to the completion of the Company's initial public offering of American Depositary Shares
  representing its ordinary shares, provides that the Registrant shall indemnify its directors and officers out of the assets and
  funds of the Company against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or
  sustained by such persons in connection with the execution or discharge of such person's duties, powers, authorities or
  discretions as a director or officer of the Company, otherwise than by reason of such person's own dishonesty, fraud or willful
  default, including without prejudice to the generality of the foregoing, any costs, expenses, losses or liabilities incurred by such
  person in defending (whether successfully or otherwise) any civil proceedings concerning the Registrant or its affairs in any court
  whether in the Cayman Islands or elsewhere.
  II-
  1
  Pursuant to the indemnification agreement, the
  form of which was filed as Exhibit 10.15 to the Registrant's registration statement on
  Form F-1
  , as amended (File No. 333- 228510),
  the Registrant has agreed to indemnify its directors and officers against certain liabilities and expenses incurred by such persons in
  connection with claims arising from their services as directors or officers of the Registrant.
  Insofar as indemnification for liabilities arising
  under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions,
  the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed in the
  Securities Act and is therefore unenforceable.
  The Registrant also maintains a directors and
  officers liability insurance policy for its directors and officers.
  Item 7.
  Exemption from Registration Claimed
  Not applicable.
  Item 8.
  Exhibits
  See the Index to Exhibits attached hereto.
  Item 9.
  Undertakings
  (a)
  The undersigned Registrant hereby undertakes:
  (1)
  To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
  (i)
  to include any prospectus required by Section 10(a)(3) of the Securities Act;
  (ii)
  to reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this registration statement; and
  (iii)
  to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to that information in the registration statement;
  provided
  ,
  however
  , that paragraphs (a)(1)(i)
  and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
  in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that
  are incorporated by reference in this Registration Statement;
  (2)
  That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
  (3)
  To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
  (b)
  The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
  bona fide
  offering thereof.
  (c)
  Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
  II-
  2
  EXHIBIT INDEX
  Exhibit
  Number
  Description
  4.1
  Second Amended and Restated Memorandum and Articles of Association of the Registrant, effecitive March 19, 2019 (incorporated by reference to Exhibit 3.2 to the Registrant's registration statement on Form F-1, as amended initially filed with the Securities and Exchange Commission on November 21, 2018 (File No. 333-228510))
  4.2
  Registrant's specimen share certificate for ordinary shares (incorporated by reference to Exhibit 4.1 to the Registrant's registration statement on Form F-1, as amended (File No. 333-228510) filed with the Securities and Exchange Commission)
  4.3
  Deposit agreement, among the Registrant, the depositary and beneficial owners of the American depositary receipts, dated March 27, 2019 (incorporated by reference to Exhibit 2.5 to the Registrant's annual report on Form 20-F filed with the Securities and Exchange Commission on October 14, 2019 (File No. 001-38813))
  4.4
  Form of American Depositary Receipt evidencing American Depositary Shares (included in Exhibit 4.3)
  5.1*
  Opinion of Walkers (Hong Kong), Cayman Islands counsel to the Registrant, regarding the legality of the ordinary shares being registered
  10.1
  2018 Share Incentive Plan (incorporated by reference to Exhibit 10.27 to the Registrant's registration statement on the Form F-1, as amended, initially filed on November 21, 2018 (File No. 333-228510))
  10.2*
  2024 Share Incentive Plan
  23.1*
  Consent of Marcum Asia CPAs LLP, an independent registered public
  accounting firm
  23.2*
  Consent of Walkers (Hong Kong) (included in Exhibit 5.1)
  24.1*
  Power of Attorney (included on signature page hereto)
  107*
  Filing fee table
  *
  Filed herewith.
  II-
  3
  SIGNATURES
  Pursuant to the requirements of the Securities
  Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for
  filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly
  authorized, in Guangzhou, Guangdong China, on March 11, 2024.
  P
  uyi Inc.
  By:
  /s/ Hu Yinan
  Name:
  Hu Yinan
  Title:
  Vice-Chairman of the Board,
  Chief Executive Officer
  POWER OF ATTORNEY
  KNOW ALL PERSONS BY THESE PRESENTS, that each person
  whose signature appears below constitutes and appoints Hu Yinan with full power to act alone, as his true and lawful attorney-in-fact,
  with the power of substitution, for and in such person's name, place and stead, in any and all capacities, to sign any and all amendments
  (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents
  in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact full power and authority
  to do and perform each and every act and thing requisite and necessary to be done as fully to all intents and purposes as he or she might
  or could do in person, hereby ratifying and confirming all that each said attorney-in-fact may lawfully do or cause to be done by virtue
  hereof.
  Pursuant to the requirements of the Securities Act
  of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities on March 11, 2024.
  Signature
  Title
  /s/ Hu Yinan
  Vice-Chairman of the Board, Chief Executive Officer
  Hu Yinan
  (Principal Executive Officer)
  /s/ Peh Chin Hua
  Chairman of the Board
  Peh Chin Hua
  /s/ Ren Yong
  Director
  Ren Yong
  /s/ Kong Youjie
  Director
  Kong Youjie
  /s/ Luo Jidong
  Independent Director
  Luo Jidong
  /s/ Zhai Lihong
  Independent Director
  Zhai Lihong
  /s/ Yang Yuanfen
  Chief Financial Officer
  Yang Yuanfen
  (Principal Financial and Accounting Officer)
  II-
  4
  SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE
  UNITED STATES
  Pursuant to the Securities Act of 1933, as amended,
  the undersigned, the duly authorized representative in the United States of Puyi Inc. has signed this registration statement or amendment
  thereto in New York on March 11, 2024.
  Authorized U.S. Representative
  COGENCY GLOBAL INC.
  By:
  /s/ Colleen A. De Vries
  Name:
  Colleen A. De Vries
  Title:
  Senior Vice President
  II-5