Government deregulation benefiting web-based trading
BEIJING, September 2, 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 is ranked as a leading online financial firm amongst China’s Top-100 Internet Companies, according to the Internet Society of China and the Information Center of the Ministry of Industry and Information Technology of China.
“We are very proud to be ranked amongst the leading internet companies in China,” stated Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online. “We will continue to invest in our broadening financial platform, especially our “Securities Master” trading platform, to further improve user experience. As government efforts to liberalize and stimulate the consumer financial industry gain traction, we firmly believe that demand for our one-stop platform for timely information and on-line trading, available on any device, demonstrates the tremendous advantages our platform possesses as compared with traditional channels. As an example, with the recent deregulation initiatives allowing investors in China to open accounts at multiple brokerages, now investors with existing securities accounts elsewhere have an easier path to potentially migrate into our financial trading ecosystem.”
About China Finance Online
China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese retail investors access to securities, 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. In addition to the web-based securities trading platform, the Company offers basic 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:
- our prospect on our Stock Master web-based stock trading platform;
- our prospect on the growth of and our investments in our financial platform;
- our prospect on maintaining the advantages of our financial platform compared with traditional channels;
- our prospect on attracting investors to migrate into our financial trading ecosystem; and
- the market prospect of the business of internet finance.
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 and demands, regulatory environment and market condition that we are subject to;
- the uneven condition of the world and Chinese economy that could lead to volatility in the equity markets and affect our operating results in the coming quarters;
- the impact of the changing conditions of the Chinese stock market, Hong Kong stock market and global financial market on our future performance;
- the unpredictability of our strategic transformation and growth of new businesses, including our online securities trading services and platform;
- the degree to which our strategic collaborations with partners will yield successful outcome;
- the prospect of integrating Yinglibao with our newly launched web-based securities trading platform;
- 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.