Mobile App iTouGu Drives China Finance Online's Member Acquisition
BEIJING, July 9, 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 to institutional customers, announced that since the company launched the updated version 2.0 of mobile application iTouGu in early May, the app downloads and membership registrations have experienced strong growth. In May and June, there were over 100,000 unique member registrations.
The one-stop mobile platform of iTouGu, in Chinese means "love investment and advisory", currently features three main services, 1) the stock brokerage marketplace, Securities Masters; 2) the wealth management marketplace; and 3) stock investment mentoring marketplace.
Since August 2014, the company's real-time web-based trading program, Securities Masters, has successfully and seamlessly integrated with approximately 30 out of total 120 brokerage firms in China. Customers now open accounts, trade stocks and track their holdings with different brokerage firms, all under one log-in and through their mobile devices. During the same period, the company also signed with approximately 70 wealth management firms to offer a broad range of products in mutual funds, fixed income funds and money market funds. In May 2015, the company launched stock investment mentoring marketplace. Since then, there are over 700 portfolio managers opened their stores and began actively mentoring retail investors. With a monthly fee, retail investors now can not only receive stock picking advices nearly 24/7, but review their mentors' current portfolio and live trading records as well.
Mr. Zhiwei Zhao, Chairman and CEO of the Company, commented, "we strongly believe that the fragmented service provider market eventually needs a complete eco-system to better meet retail investors' needs. We were a bit late on mobile but will let our results speak volume as we took time to study the competitive landscape and develop an open marketplace differentiating us from our peers. Our goal for iTouGu is to reach one million members within 12 months. And we already have mechanism in place to monetize our services when we reach that milestone."
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. 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 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. Limited
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