BEIJING, Dec. 7, 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 its
ceremonial signing of a strategic cooperation agreement with the leading brokerage firm in China, CITIC Securities.
At the signing ceremony, China Finance Online and CITIC
Securities announced that both parties will be committed to a
long-term and comprehensive strategic cooperation on investment
advisory and wealth management services by applying more
intelligent finance technologies.
Mr. Zhiwei Zhao, CEO and Chairman
of China Finance Online commented, "In this day and age of the
convergence of technology and finance, the competing area among
Chinese brokerage firms is gradually moving from commission to the
depth of services. The companies create more value for users get to
retain customers and attract new customers through word-of-mouth.
We have witnessed that science and technology enable a significant
improvement of services which produce the ultimate benefits for
customers. As an undisputed industry leader, CITIC securities
foresaw this trend and made this strategic plan to empower its
investment advisers with financial technology to improve services
in the midst of broadening its brokerage business to the wealth
management business."
Under the agreement, both parties will cooperate in the area of
investment advisory services, and China Finance Online will provide
CITIC Securities' investment advisors with our proprietary
cloud-based software products. Both parties will cooperate to carry
out intelligent asset allocation research to enhance their wealth
management capabilities.
Using the philosophy that "science and technology to promote
service, service to promote efficiency", CITIC Securities as the
industry leader has made Fintech a core priority to enhance its
investment advisory services, and to promote the transition of the
brokerage business to the wealth management business.
Mr. Xinli Yu, managing director
and the executive director of the market research department of
CITIC Securities, commented, "Limited by scale, efficiency and
cost, the traditional brokerage and investment advisory services
cannot meet the huge and rapid growth of the wealth management
needs of more than 100 million Chinese retail investors, who have
not access to professional investment advisory services. The
combination of financial service with artificial intelligence, big
data, cloud computing and other technologies, will greatly enhance
the investment advisers' research capacity and service efficiency.
We look forward to working with China Finance Online to extend our
market leadership."
CITIC Securities Limited, a comprehensive securities company
approved by the China Securities and Regulatory Commission (CSRC),
has a wide range of financial products, services, corresponding
core financial support system. CITIC Securities is committed to
providing customers with convenient, fast and safe financial
services. CITIC's total assets and operating income are
ranked No. 1 in
China.
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, Hong Kong stock market and global financial
markets on our future performance; the unpredictability of our
strategic transformation and growth of new businesses including our
commodities brokerage services; 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
+86-10-8336-3100
ir@jrj.com
Kevin Theiss
(212) 521-4050
kevin.theiss@awakenlab.com
View original
content:http://www.prnewswire.com/news-releases/china-finance-online-and-citic-securities-sign-strategic-cooperation-to-develop-intelligent-finance-technology-to-empower-investment-advisory-and-wealth-management-services-300568412.html
SOURCE China Finance Online Co., Ltd.