China Securities Depository and Clearing Corporation Limited Launches Yimatong, a unified brokerage account system for Chinese Investors
BEIJING, October 8, 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 expects the Company and its Securities Master platform users will benefit from China Securities Depository and Clearing Corporation Limited’s launch of Yimatong, a unified brokerage account system which assigns an account to investors with existing securities brokerage accounts in China, starting October 8, 2014. The launch of Yimatong highlights the significant progress made in the current deregulation environment, allowing investors in China to open accounts in multiple brokerages over time.
Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online commented, “Since pioneering the concept of ‘Making Investment Easier’ in China, we continue to aim towards building a fully-integrated online securities-trading platform, where retail investors can have access to one-stop professional-level financial information and services. With recent deregulation achievements, going forward, investors with existing accounts trading accounts at other brokerages will have an easier path to migrate to other trading platforms, including China Finance Online’s financial ecosystem, strengthening our foundation for further monetization opportunities.”
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:
- the prospect of Yimatong and its impact on the finance industry in China, in particular, the deregulation of the industry;
- our prospect on our Securities Master web-based securities trading platform and on attracting investors to migrate to our financial trading ecosystem;
- our prospect on strengthening our foundation for future monetization;
- our prospect on the concept of ‘Making Investment Easier’; and
- the market prospect of the businesses of internet finance and securities brokerage.
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 mainland 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 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.