BEIJING, November 15, 2014 /PRNewswire/ — China Finance Online Co. Limited (“China Finance Online”, or the “Company”) (NASDAQ GS: JRJC), a leading web-based financial services company that provides Chinese retail investors online access to securities, commodities and wealth management products, today announced that it has engaged BDO China Shu Lun Pan Certificated Public Accountants LLP (“BDO China”) as the Company’s new independent auditing firm effective on November 12, 2014. The appointment of BDO was approved by the Company’s board of directors and the Audit Committee.
BDO is one of the leading global accounting firms with member firms over 144 countries. BDO China was founded in 1927 and is one of the earliest and most influential accounting firms in China. BDO China’s clients include over 300 listed companies, over 300 IPO companies, and more than 2,000 enterprises with foreign investments. The companies BDO provides services to cover a wide range of size and industries including large national enterprises, state-owned companies, commercial banks, securities companies, futures brokerage, insurance, trusts and funds.
With BDO China team’s thorough understanding of the Company’s business, large local presence and its well-established reputation, the Company believes that BDO China is well qualified to become its independent auditing firm. The Company does not believe that the change of auditor will affect the timely filing of its annual report on Form 20-F for the year ending December 31, 2014.
For more information on the Company’s change in auditing firm, please refer to the Company’s Form 6-K filed on November 13, 2014:
About China Finance Online
China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese retail investors access to stocks, commodities and wealth management products. The Company’s two prominent flagship portal sites, www.jrj.com and www.stockstar.com, are ranked as top financial websites in China. Through Securities Master and Yinglibao platforms, China Finance Online is a pioneer in China in providing integrated online securities trading and wealth management services.
In addition to the web-based securities trading platform, the Company offers financial software, information services and securities investment advisory services to retail investors in China. Through its subsidiary, Shenzhen Genius Information Technology Co. Ltd., the Company provides financial database and analytics to institutional customers including domestic financial, research, academic and regulatory institutions. China Finance Online also provides brokerage services in Hong Kong.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, this release contains the following forward-looking statements regarding:
- the ability of our new auditor to provide high-level services; and
- our ability to timely file annual report on Form 20-F for the year ending December 31, 2014;
Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which risks and uncertainties include, among others, the following:
- the changing customer needs, regulatory environment and market condition that we are subject to;
- the unpredictability of our transition into working with the new auditor;
- the prospect for China’s high-net-worth and middle-class households;
- the prospect of equipping our customer specialists with new technology, tools and financial knowledge;
- the competition we are facing in the new business of internet finance and online securities trading;
- wavering investor confidence that could impact our business; and
- possible non-cash goodwill, intangible assets and investment impairment may adversely affect our net income.
Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F under “Forward-Looking Information” and “Risk Factors.” The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
China Finance Online Co. Limited