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China Finance Online Co. Limited (NASDAQ: JRJC) announced significant management changes effective May 24, 2021. Dr. Z. James Chen has been appointed as the new CEO, succeeding Mr. Zhiwei Zhao, who remains as Chairman. Ying Zhu has been named CFO, having served as Acting CFO since December 2019. Additionally, Xin Yue Jasmine Geffner joins as an independent director and Audit Committee Chair. Jun Wang resigned as a director, confirming no disagreements with the Board. The company expresses confidence in its leadership team to drive future growth.
China Finance Online Co. Limited (JRJC) reported its unaudited financial results for Q4 and full year 2020. Net revenues for Q4 increased by 12.3% YoY to $9.8 million, with a gross margin of 69.1%. The financial information and advisory segment surged 99.9% YoY, representing 44.9% of total revenues. Despite revenue growth, the company faced a net loss of $5.6 million in Q4, up from $3.4 million in Q4 2019. For the full year, total revenues grew 12.7% to $40.0 million, while the net loss narrowed to $10.6 million from $11.3 million. The company plans to shift to semi-annual financial reporting.
China Finance Online reported third-quarter 2020 results with a net revenue of $10.7 million, up 32.9% year-over-year. The net loss narrowed to $1.5 million, improving from $2.1 million in Q3 2019. Financial information and advisory services surged 108.0% year-over-year, constituting 46.5% of total revenue. Gross margin increased to 64.4%. For the first nine months, revenues reached $30.3 million, compared to $26.8 million in the same period last year, with a net loss of $4.9 million versus $7.9 million.
China Finance Online (JRJC) will release its third quarter and first nine months unaudited financial results on December 29, 2020, after U.S. market close. The earnings report will be accessible via the Company's Investor Relations section. An earnings conference call is scheduled for 8:00 p.m. U.S. Eastern Time on the same day, with dial-in details provided. A replay will be available until January 5, 2021. The Company is a prominent provider of fintech services for individual investors in China.
China Finance Online (JRJC) reported Q2 2020 results with a net loss of $1.5 million, improved from $3.0 million in Q2 2019. Net revenues reached $9.7 million, a 9.2% growth year-over-year, driven by a 60.7% increase in financial advisory services. Gross margin rose to 63.3%. Investment advisory services saw a remarkable 125.4% growth. For the first half of 2020, net revenues were $19.6 million, up from $18.8 million. The company remains optimistic amid economic uncertainties, focusing on strengthening its fintech capabilities.
China Finance Online Co. Limited (NASDAQ: JRJC) announced it will release unaudited financial results for Q2 and H1 2020 on September 24, 2020, after U.S. market close. The earnings conference call is scheduled for the same day at 8:00 PM U.S. Eastern Time. The call will be accessible via multiple toll-free numbers in the U.S., Hong Kong, Singapore, and Mainland China. A replay will be available until October 1, 2020. The company offers online trading, wealth management, and financial analytics services, prominently through its portal, www.jrj.com.
China Finance Online Co. Limited (NASDAQ GS: JRJC) reported its unaudited financial results for Q1 2020, revealing net revenues of $9.8 million, slightly down from $9.9 million in Q1 2019. The net loss narrowed to $1.9 million compared to $2.8 million a year prior. The financial information and advisory segment generated $3.5 million, up significantly compared to prior quarters, particularly in investment advisory services which surged 61.7% year-over-year. A partnership with Dow Jones aims to enhance their market presence and service offerings amidst challenges posed by COVID-19.
China Finance Online Co. Limited (NASDAQ: JRJC) announced changes to the dial-in numbers for its first quarter 2020 earnings call, scheduled for July 24, 2020 at 8:00 a.m. U.S. Eastern Time. The new numbers include U.S. Toll Free at 1-844-760-0770 and Hong Kong Toll Free at 800-906-613. A replay will be available post-call until July 31, 2020. The earnings release will be accessible on the company's Investor Relations website.
China Finance Online Co. Limited (NASDAQ: JRJC) will release its unaudited financial results for Q1 2020 on July 24, 2020, before U.S. markets open. The earnings conference call is scheduled for the same day at 8:00 a.m. ET. Investors can access the earnings release on the Company’s Investor Relations website. The Company provides fintech-driven financial services to retail investors in China, including securities trading and wealth management products, alongside analytics for institutional clients.
