China Finance Online Co. Limited (“China Finance Online”, or the “Company”, “we”, “us” or “our”), a leading web-based financial services company that provides Chinese individual investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, announced that it received a letter, dated January 19, 2022, from the Nasdaq Hearings Panel (the “Panel”) informing the Company that it has determined to delist the Company’s ADSs from Nasdaq by filing a Form 25 (Notification of Delisting) with the Securities and Exchange Commission after applicable appeal periods have lapsed and will suspend trading in our ADSs effective at the open of business on January 21, 2022.
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As previously announced, the Company was notified in May 2021 that it was not in compliance with the shareholders’ equity requirement of Listing Rule 5450(b)(1)(A) and received a delisting notice in August 2021. Following the hearing that took place in September 2021, the Panel granted the Company’s request to phase down to The Nasdaq Capital Market and an extension until January 14, 2022 to evidence compliance with the minimum $2.5 million stockholders’ equity requirement, or the alternative compliance standards as set forth in Nasdaq Listing Rule 5550(b)(1).
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China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese individual investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company’s prominent flagship portal site, is 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.
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