BEIJING, April 28, 2020 /PRNewswire/ -- China Finance
Online Co. Limited ( the "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 fintech-powered online access to securities trading services,
wealth management products, securities investment advisory
services, as well as financial database and analytics services to
institutional customers, announced today that it will report its
unaudited financial results for the fourth quarter and full year
ended December 31, 2019 no later than
May 29, 2020.
Due to social distancing, travel bans and quarantines in
China implemented in response to
the coronavirus disease 2019 ("Covid-19") pandemic, access to JRJC
office has been limited. These actions have substantially impeded
the Company's professional staffs and advisors from completing the
preparation of the Company's consolidated financial statements and
to provide investors with timely information as well as to comply
with filing obligations with the Securities and Exchange
Commission.
The Company also announces that it will be relying on the order
issued by the Securities and Exchange Commission (Release No.
34-88465) to delay the filing of its Annual Report on Form 20-F for
the year ended December 31, 2019 (the
"Annual Report") due to circumstances related to COVID-19. The
explanation for the delay in filing the Annual Report is outlined
in a Report on Form 6-K furnished today by the Company. The Company
expects to file the Annual Report no later than May 29, 2020.
About China Finance Online
China Finance Online Co. Limited is a leading web-based
financial services company that provides Chinese retail investors
with fintech-powered 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, the outbreak of COVID-19 or other health
epidemics in China or globally,
changing customer needs, regulatory environment and market
conditions; the uncertain 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; 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.
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
Awaken Advisors
(212) 521-4050
kevin@awakenlab.com
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SOURCE China Finance Online Co., Ltd.