China Finance Online (JRJC) Announces Investigation of Board Chairman

China Finance Online Co. Limited (NASDAQ GS: JRJC) announced today that the Company learned of an investigation of Mr. Zhiwei Zhao, Chairman of Board of Directors of the Company by Xicheng Branch of Beijing Municipal Public Security Bureau. The Company has been informed that Mr. Zhao is currently cooperating with the government authorities for the investigation.

Separately, Xicheng Branch of Beijing Municipal Public Security Bureau has recently requested Beijing Zhengjin Wealth Management Co., Ltd., a subsidiary of our variable interest entity in China, to provide certain business and financial documents concerning its commodities brokerage services business. Zhengjin and its affiliates have provided the information requested. As initially disclosed in the Company's 2017 annual report on Form 20-F, the Company suspended its commodities brokerage business in 2017 due to the suspension of new commodities trading by most of precious metal exchange in China.

The Company does not have any specific information regarding the above investigation and information request. The Company plans to continue to cooperate with the government investigation if requested. There can be no assurance that the ultimate outcome of the investigations will not result in administrative, civil or criminal actions against us, Mr. Zhao, our directors or employees, which could materially and adversely affect our business, financial condition and results of operations.

You May Also Be Interested In

• Alphabet (GOOGL) soars 16% on Q1 results beat, first-ever dividend
• Rollins (ROL) Appoints Louise S. Sams to its Board
• Roper's (ROP) iPipeline Appoints Adam Boone as CFO