China Finance Online's iTouGu Opens First Nationwide Investment Masters Tournament
Sep 08, 2015, 08:00 ET
BEIJING, Sept. 8, 2015 /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 and commodities trading, wealth management products, investment advisory services, as well as financial database and analytics services, today announced that based on our popular one-stop mobile platform of iTouGu, we have launched the first iTougu Masters Tournament (the "Tournament") for "grass-root" and professional investment advisors across China.
The first iTouGu Masters Tournament takes place at a critical stage of a volatile A share market when many retail investors, who account for majority volume of daily trading, incurred huge losses. The demand for professional advice on investment management and risk controls is on the rise, not only because many investors' confidence is decimated, but because a large portion of retail investors lack adequate investment knowledge, discipline and judgment. The purpose of the Masters Tournament is to showcase featured investment advisors with different investment styles and to enable investors to consult with the advisors online.
The Tournament will feature two group tournaments, individual and institutional participants. Starting on September 7, 2015, all participants shall display daily performance of their investment portfolios over a three-month period. Throughout the Tournament, all registered users of China Finance Online's flagship portals (jrj.com.cn, stockstar.com, and the iTouGu marketplaces) will be able to view the Tournament participants' stock portfolios and live trading records free of charge. The-aggregate online viewership is targeted at approximately 50 million. The co-host of the Tournament is Changjiang Securities Company Limited, a leading full-service brokerage firm in China. Institutions entering the tournament also include twelve leading Chinese brokerage firms, such as Ping'An Securities, Northeast Securities and Haitong Securities.
Since China Finance Online launched its iTouGu mobile application in early May, app downloads and membership registrations have grown rapidly. Up till today, there have been over 400,000 unique member registrations and over a million downloads from app stores. In addition, more than 1,200 investment advisors have signed up for the stock investment mentoring marketplace, where they actively mentor retail investors. Through the mentoring service, retail investors may receive stock-picking advice, follow real-time commentaries on the markets and have access to their mentors' portfolios for a monthly fee.
Mr. Zhiwei Zhao, the Chairman and CEO of China Finance Online, commented, "The rapid growth of the iTouGu stock advisory platform is a testament to the value we are creating for retail investors quality stock market advice. The support from leading brokerage firms also demonstrated their endorsement of our business model and long-term interest from their client-base."
"With the recent volatility in the Chinese stock market, we anticipate an increasing need from retail investors for investment advice and wealth management ideas. China Finance Online is a leader in this high-barrier, high growth space. Our Masters Tournament will further the awareness of our program's benefits and drive growth of our investor and advisor member base." Mr. Zhao concluded.
For more information on iTouGu Masters Tournament, please visit itougu.jrj.com.cn/portfolio/masters/main.shtml
For more information for iTouGu, please log on itougu.jrj.com.cn
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 and commodities trading services, wealth management products, securities investment advisory services. The Company's two prominent flagship portal sites, www.jrj.com and www.stockstar.com, are 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.
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 risk factors and uncertainties include, amongst others, the changing customer needs, 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 precious metal trading service; the prospect of our margin-related business and the degree to which our implementation of margin account screening and ongoing monitoring will yield successful outcome; the degree to which our strategic collaborations with partners will yield successful outcome; 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; 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.
SOURCE China Finance Online Co., Ltd.