China Finance On the net Announces Management Variations

BEIJING, May possibly 25, 2021 /PRNewswire/ — China Finance On line Co. Minimal (“China Finance On the internet”, or the “Firm”, “we”, “us” or “our”) (NASDAQ GS: JRJC), a main world wide web-based mostly fiscal expert services business that offers Chinese specific buyers with fintech-powered on the internet access to securities trading companies, prosperity administration products and solutions, securities expenditure advisory providers, as perfectly as economical databases and analytics providers to institutional clients, nowadays declared the next variations to its board of administrators (the “Board”) and senior management. 

Mr. Zhiwei Zhao has resigned from his placement as the Chief Executive Officer of the Enterprise (the “CEO”) and Dr. Z. James Chen has been appointed as the CEO, helpful as of Could 24, 2021. Mr. Zhao continues to provide as a director and the Chairman of the Board. Concurrently with the appointment of the CEO, Dr. Chen gets to be our government director and will phase down as the chairman of the audit committee of the Board (the “Audit Committee”).

Ms. Ying Zhu has been appointed as the Chief Economic Officer of the Business, successfully as of Might 24, 2021. Ms. Zhu served as our Performing Main Financial Officer considering that December 2019.

Ms. Xin Yue Jasmine Geffner has been appointed as an unbiased director of the Board, efficient as of Might 24, 2021. Ms. Geffner will serve as the chairman of the Audit Committee and the Board has decided that she qualifies as the economic qualified of the Audit Committee.

Mr. Jun Wang has resigned as a director of the Business owing to individual explanations, efficient as of May 18, 2021.  Mr. Wang has verified that he has no disagreement with the Board and that there are no issues relating to his resignation which need to have to be brought to the consideration of the shareholders of the Corporation.

Dr. Z. James Chen has served as our director due to the fact June 2015. He served as the chief govt officer and the chief fiscal officer of Origin Agritech from 2018 to 2020 and from 2012 to 2016. Dr. Chen’s earlier skilled encounter incorporates the Chief Economical Officer of Yunji Inc., a rapidly-rising e-commerce enterprise, expense supervisor at the Abu Dhabi Financial commitment Authority (ADIA), and senior equity analyst positions at Morgan Joseph and BB&T Money Marketplaces. Dr. Chen also worked as a Product Supervisor at Celanese and as a License Merchandise Engineering Supervisor at Univation Technologies, a joint undertaking involving ExxonMobil and Dow Chemical. Dr. Chen received his Ph.D. Diploma in Chemical Engineering from the University of Connecticut and his MBA degree from New York College. Dr. Chen has a specialist designation of Chartered Monetary Analyst (“CFA”) and is a member of American Institute of Qualified Community Accountants. Dr. Chen also serves as the authorized agent for Beijing Baofeng Youping Constrained and the chairman of Supervisory Board of Zhejiang Jitai New Resources Constrained.

Ms. Xin Yue Jasmine Geffner, 49, has been the Chief Monetary Officer of Dorsett Hospitality Worldwide Products and services Constrained, a corporation detailed on the Hong Kong  Stock Exchange (HKSE: 0035) because February 2019. She led the IPO of GreenTree Hospitality Team Confined on New York Stock Trade (NYSE: GHG) in March 2018 and served as its Main Money Officer from Oct 2017 to December 2018. Prior to that, Ms. Geffner served as vice president in demand of company finance and growth in LeEco Asia Pacific from October 2016 to August 2017. She was an independent director of AG Semiconductor (Hong Kong) Ltd. from April 2013 to April 2017. From August 2014 to March 2016, she served as the Main Money Officer of Carnival Group Worldwide Holdings Restricted (HKSE: 0996). From November 2008 to January 2011, she served as a director of company and institutional banking in ANZ Hong Kong. From March 2005 to February 2008, she labored for HSBC as head of China business growth and as a vice president of the consumer and retail group in New York. Ms. Geffner acquired a bachelor’s degree in global marketing and finance from the Metropolis University of New York in February 1994 and an MBA degree from the Stern University of Enterprise in New York University in September 1997. She is a Qualified Public Accountant in Washington Condition, United states of america as very well as Hong Kong. She is also a CFA constitution holder.

Ms. Ying Zhu joined our enterprise in July 2010 and has served as our Director of Trader Relations, Director of Technique, Assistant to Chairman, Head of President Office environment and the Acting Main Financial Officer. She also serves as Vice President of Rifa Securities Constrained in Hong Kong. Ms. Zhu received her Master of Legislation and Bachelor of Economics majoring in Finance from International Company Faculty of Beijing Language and Tradition University. Ms. Zhu has been awarded HKSI Institute Specialist Certificates on Securities, Futures and Asset Management.

The Board is thankful for Mr. Wang’s long-time period providers and sizeable contributions to the Company and wishes him the ideal in his foreseeable future endeavors. The Board is confident that the Corporation will be capable to drive its organization growth underneath the ongoing management of Mr. Zhao, Dr. Chen and Ms. Zhu, with the addition of Ms. Geffner’s precious expertise and practical experience.

About China Finance On line

China Finance On-line Co. Constrained is a major internet-based mostly economic solutions company that delivers Chinese particular person traders with fintech-powered on the web accessibility to securities trading companies, wealth administration items, securities financial investment advisory products and services, as very well as money database and analytics expert services to institutional prospects.  The Firm’s notable flagship portal internet site, www.jrj.com, is rated among the top monetary internet websites in China.  In addition to the world-wide-web-dependent securities trading system, the Firm delivers essential fiscal application, information and facts providers and securities investment decision advisory companies to retail traders in China.  By way of its subsidiary, Shenzhen Genius Data Engineering Co. Ltd., the Business offers economical database and analytics to institutional shoppers together with domestic money, investigation, tutorial and regulatory establishments.  China Finance On the net also supplies brokerage services in Hong Kong.

Risk-free Harbor Statement

This push release is made up of ahead-hunting statements which constitute “forward-hunting” statements in the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as described in the U.S. Non-public Securities Litigation Reform Act of 1995.  The statements contained herein mirror management’s latest views with respect to long term occasions and economical general performance.  These forward-on the lookout statements are matter to certain pitfalls and uncertainties that could lead to the precise final results to differ materially from those people in the forward-looking statements, all of which are difficult to forecast and numerous of which are past the regulate of the Enterprise.  These ahead-hunting statements can be discovered by terminology these kinds of as “will,” “expects,” “anticipates,” “future,” “intends,” “designs,” “thinks,” “estimates” and very similar statements.  Amid other issues, this launch incorporates the next ahead-hunting statements relating to:

  • liquidity and sources of funding, including our skill to keep on running as a going issue
  • our prospect and our ability to appeal to new buyers
  • our prospect on making a thorough wealth management ecosystem by giving a totally-integrated online interaction and securities-buying and selling system
  • our prospect on stabilization in cash attrition and enhancement of our fiscal position
  • our initiatives to address customers’ need for intuitive on-line financial commitment platforms and different financial investment chances and
  • the sector prospect of the enterprise of securities-buying and selling, securities financial commitment advisory and wealth administration.

These types of statements include specified risks and uncertainties that could cause real effects to vary materially from people in the ahead-wanting statements, which possibility variables and uncertainties contain, among other folks, significant question about ability to proceed as a heading concern, the outbreak of COVID-19 or other wellbeing epidemics in China or globally, switching buyer needs, regulatory ecosystem and market conditions that we are subject matter to the uneven issue of the planet and Chinese economies that could lead to volatility in the equity markets and have an affect on our running outcomes in the coming quarters the impact of the shifting conditions of the mainland Chinese inventory sector, Hong Kong stock market and worldwide monetary markets on our foreseeable future general performance the unpredictability of our strategic transformation and advancement of new businesses the prospect of our margin-associated company and the diploma to which our implementation of margin account screening and ongoing monitoring will generate effective results the diploma to which our strategic collaborations with companions will generate effective outcomes the potential clients for China’s higher-web-well worth and center-course households the potential clients of equipping our client specialists with new technological innovation, resources and economic information wavering trader confidence that could affect our business and possible non-dollars goodwill, intangible belongings and expenditure impairments might adversely impact our web income.  Additionally, we have recurring losses from operation and lack of ability to produce sufficient dollars movement to meet our obligation and sustain our functions and facial area uncertainty as to the procedure affect of the COVID-19 outbreak, that increase significant doubt about our potential to keep on as a likely problem.  Even further details with regards to these and other threats is provided in the Company’s filings with the U.S. Securities and Trade Fee, which include its yearly report on Variety 20-F under “Ahead-On the lookout Details” and “Threat Variables”.  The Business does not undertake any obligation to update any ahead-looking statement as a outcome of new info, long run functions or or else, except as essential under relevant regulation.

For a lot more details, be sure to get in touch with:

China Finance Online
+86-10-8336-3100
[email protected]

Kevin Theiss
Awaken Advisors
(212) 521-4050
[email protected]

Resource China Finance On the internet Co., Ltd.

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