China Finance Online (NASDAQ:JRJC)
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2 Years : From Apr 2017 to Apr 2019
BEIJING, Dec. 15, 2017 /PRNewswire/ -- China Finance Online Co. Limited ("China Finance Online", or the "Company", "we", "us" or "our") (NASDAQ GS: JRJC), a leading web-based financial services company that provides Chinese retail investors with online access to securities trading services, wealth management products, investment advisory services, as well as financial database and analytics services to institutional customers, today announced the signing of a strategic cooperation agreement with a Top 20 leading brokerage firm in China, China Investment Securities Co., Ltd. ("CISC" or "China Investment Securities").
Pursuant to the strategic cooperation agreement, China Finance Online will provide CISC with China Finance Online' s proprietary cloud-based software products for CISC's investment advisory and wealth management services. In addition, both parties also agreed to hold co-branded events and co-developed training programs for CISC's wealth management advisors.
Mr. Zhiwei Zhao, CEO and Chairman of China Finance Online commented, "We firmly believe that technology empowerment will unlock the potential of financial advisors and wealth management professionals for the large equity capital market in China. We are excited to partner with the three-time winner of Best Investment Advisor Services to raise the bar of the wealth management industry in China."
China Investment Securities Co., Ltd. (CISC), formerly known as China Jianyin Investment Securities Co., Ltd., is a nationwide full-service investment bank and brokerage firm based in Shenzhen. Acquired in late 2016, CISC is a subsidiary of China International Capital Corporation (CICC). Established in 2005, CISC posted a total revenue of RMB 4.38 billion in 2016 with over 3,700 employees spread out in 28 provinces in China. In 2016, CISC's total asset was ranked No. 19 in China. CISC was the winner of the "Best Investment Advisor Service Brand" by the Securities Times in three consecutive years from 2014 to 2016.
About China Finance Online
China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese retail investors with online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company's prominent flagship portal site, www.jrj.com, is ranked among the 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 which 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. The statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the Company. 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 and our ability to attract new users;
- our prospect on building a comprehensive wealth management ecosystem through providing a fully-integrated online communication and securities-trading platform;
- our prospect on stabilization in cash attrition and improvement of our financial position;
- our initiatives to address customers' demand for intuitive online investment platforms and alternative investment opportunities; and
- the market prospect of the business of securities-trading, securities investment advisory and wealth management.
Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which risk factors and uncertainties include, amongst others, changing customer needs, regulatory environment and market conditions that we are subject to; the uneven condition of the world and Chinese economies 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, mainland Chinese precious metals exchanges, Hong Kong stock market and global financial markets on our future performance; the unpredictability of our strategic transformation and growth of new businesses; the prospect of our margin-related business and the degree to which our implementation of margin account screening and ongoing monitoring will yield successful outcomes; the degree to which our strategic collaborations with partners will yield successful outcomes; the prospects for China's high-net-worth and middle-class households; the prospects of equipping our customer specialists with new technology, tools and financial knowledge; wavering investor confidence that could impact our business; and possible non-cash goodwill, intangible assets and investment impairments 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.
For more information, please contact:
China Finance Online
+1 (212) 521-4050
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