China Finance Online and Ministry of Commerce CAITEC Enter Strategic Partnership to Launch Forecasting Product
Poster: SySAdmin
Posted on July 6, 2010 at 7:56:01 AM
China Finance Online and Ministry of Commerce CAITEC Enter Strategic Partnership to Launch Forecasting Product
BEIJING, July 6 -- China Finance Online Co., Ltd. ("China Finance Online"," the Company") (NASDAQ:JRJC), the technology-driven, user-focused market leader in China in providing vertically integrated financial services and products including news, data, analytics and brokerage through web portals, software systems, and mobile handsets, today announced that its flagship website, jrj.com, has entered into an exclusive agreement to form a strategic partnership with the China Academy of International Trade and Economic Cooperation ("CAITEC"), a Ministry of Commerce organization. Under the partnership, the Company will consolidate and streamline CAITEC's "Themis Financial Safety" data regarding companies listed on both the Shanghai and Shenzhen Stock Exchanges and distribute to China Finance Online's paid retail and institutional users.
Themis is a forecasting system of listed companies' future financial strength based on in-depth quantitative analysis of their historical and current financial statements. CAITEC has authorized China Finance Online to consolidate and streamline the Themis Financial Safety forecasting data for the Chinese stock markets, specific industrial sectors over 1,800 listed companies into our products and distribute to our paid subscribers.
Traditionally only available to institutional investors, authoritative third-party assessments on listed companies' financial soundness are now being offered for the first time to Chinese retail investors to enhance their analytical and informational competitiveness, and to promote the healthy development of China's capital markets.
Mr. Zhiwei Zhao, Chief Executive Officer of China Finance Online, stated, "We are very excited about the opportunity to partner with CAITEC to provide forecasting products to both our paid retail and institutional investors. China Finance Online has strived to further enhance our market leading position in data sourcing capabilities through both internal optimization and external partnerships. Building on the momentum of our acquisition of Genius Finance, our collaboration with Tsinghua University as well as our partnerships with China's leading exchanges, China Finance Online is the only authorized company so far to work with CAITEC after one year of stringent testing and evaluation. CAITEC's endorsement attests to our superior data capability and large registered user base in China, which in turn reinforces our market leading position. This important strategic partnership represents another key milestone as we become a 'one-stop' source for all financial and investment information, data and analytics for our current 15 million registered user base."
About China Finance Online
China Finance Online Co. Limited is the technology-driven, user-focused market leader in China in providing vertically integrated financial services and products including news, data, analytics and brokerage through web portals, software systems, and mobile handsets. Through its web portals, http://www.jrj.com/ and http://www.stockstar.com/ , the Company provides individual users with subscription-based service packages that integrate financial and listed-company data, information and analytics from multiple sources with features and functions such as data and information search, retrieval, delivery, storage and analysis. These features and functions are delivered through proprietary software available by download, through the internet or through mobile handsets. Through its subsidiary, Genius, the Company provides financial information database and analytics to institutional customers including domestic securities and investment firms. Through its subsidiary, Daily Growth, the Company provides securities brokerage services for stocks listed on Hong Kong Stock Exchange.
About China Academy of International Trade and Economic Cooperation
Under the jurisdiction of Ministry of Commerce of People's Republic of China, China Academy of International Trade and Economic Cooperation is a not-for-profit social-scientific research and consulting entity that integrates consulting, education, publishing, research and other functions. CAITEC established the credit rating and authentication center in 2008. For more information, please log on http://www.caitec.org.cn/cn/index.html .
Safe Harbor Statement
This press release contains forward-looking statements. These statements 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. 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, the quotations from management in this press release and the Company's strategic operational plans and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The Company believes that the Chinese economy continues to expand; however, the expansion may be uneven with certain sectors being affected more than others with resulting volatility in the Chinese equity market which could influence the Company's operating results in the coming quarters. 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. 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:
In China:
Julie Zhu
Investor Relations
China Finance Online Co., Ltd.
Email: ir@jrj.com
In the United States:
Kevin Theiss
Grayling
Tel: +1-646-284-9409
Email: kevin.theiss@grayling.com
Source: China Finance Online Co. Limited
CONTACT: In China: Julie Zhu, Investor Relations, China Finance Online
Co., Ltd., ir@jrj.com; In the United States: Kevin Theiss of Grayling, +1-646-
284-9409, or kevin.theiss@grayling.com
Web site: http://www.jrj.com.cn/
http://www.stockstar.com/
http://www.caitec.org.cn/cn/index.html
BEIJING, July 6 -- China Finance Online Co., Ltd. ("China Finance Online"," the Company") (NASDAQ:JRJC), the technology-driven, user-focused market leader in China in providing vertically integrated financial services and products including news, data, analytics and brokerage through web portals, software systems, and mobile handsets, today announced that its flagship website, jrj.com, has entered into an exclusive agreement to form a strategic partnership with the China Academy of International Trade and Economic Cooperation ("CAITEC"), a Ministry of Commerce organization. Under the partnership, the Company will consolidate and streamline CAITEC's "Themis Financial Safety" data regarding companies listed on both the Shanghai and Shenzhen Stock Exchanges and distribute to China Finance Online's paid retail and institutional users.
Themis is a forecasting system of listed companies' future financial strength based on in-depth quantitative analysis of their historical and current financial statements. CAITEC has authorized China Finance Online to consolidate and streamline the Themis Financial Safety forecasting data for the Chinese stock markets, specific industrial sectors over 1,800 listed companies into our products and distribute to our paid subscribers.
Traditionally only available to institutional investors, authoritative third-party assessments on listed companies' financial soundness are now being offered for the first time to Chinese retail investors to enhance their analytical and informational competitiveness, and to promote the healthy development of China's capital markets.
Mr. Zhiwei Zhao, Chief Executive Officer of China Finance Online, stated, "We are very excited about the opportunity to partner with CAITEC to provide forecasting products to both our paid retail and institutional investors. China Finance Online has strived to further enhance our market leading position in data sourcing capabilities through both internal optimization and external partnerships. Building on the momentum of our acquisition of Genius Finance, our collaboration with Tsinghua University as well as our partnerships with China's leading exchanges, China Finance Online is the only authorized company so far to work with CAITEC after one year of stringent testing and evaluation. CAITEC's endorsement attests to our superior data capability and large registered user base in China, which in turn reinforces our market leading position. This important strategic partnership represents another key milestone as we become a 'one-stop' source for all financial and investment information, data and analytics for our current 15 million registered user base."
About China Finance Online
China Finance Online Co. Limited is the technology-driven, user-focused market leader in China in providing vertically integrated financial services and products including news, data, analytics and brokerage through web portals, software systems, and mobile handsets. Through its web portals, http://www.jrj.com/ and http://www.stockstar.com/ , the Company provides individual users with subscription-based service packages that integrate financial and listed-company data, information and analytics from multiple sources with features and functions such as data and information search, retrieval, delivery, storage and analysis. These features and functions are delivered through proprietary software available by download, through the internet or through mobile handsets. Through its subsidiary, Genius, the Company provides financial information database and analytics to institutional customers including domestic securities and investment firms. Through its subsidiary, Daily Growth, the Company provides securities brokerage services for stocks listed on Hong Kong Stock Exchange.
About China Academy of International Trade and Economic Cooperation
Under the jurisdiction of Ministry of Commerce of People's Republic of China, China Academy of International Trade and Economic Cooperation is a not-for-profit social-scientific research and consulting entity that integrates consulting, education, publishing, research and other functions. CAITEC established the credit rating and authentication center in 2008. For more information, please log on http://www.caitec.org.cn/cn/index.html .
Safe Harbor Statement
This press release contains forward-looking statements. These statements 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. 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, the quotations from management in this press release and the Company's strategic operational plans and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The Company believes that the Chinese economy continues to expand; however, the expansion may be uneven with certain sectors being affected more than others with resulting volatility in the Chinese equity market which could influence the Company's operating results in the coming quarters. 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. 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:
In China:
Julie Zhu
Investor Relations
China Finance Online Co., Ltd.
Email: ir@jrj.com
In the United States:
Kevin Theiss
Grayling
Tel: +1-646-284-9409
Email: kevin.theiss@grayling.com
Source: China Finance Online Co. Limited
CONTACT: In China: Julie Zhu, Investor Relations, China Finance Online
Co., Ltd., ir@jrj.com; In the United States: Kevin Theiss of Grayling, +1-646-
284-9409, or kevin.theiss@grayling.com
Web site: http://www.jrj.com.cn/
http://www.stockstar.com/
http://www.caitec.org.cn/cn/index.html