UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF JUNE 2005
CHINA FINANCE ONLINE CO. LIMITED
(Translation of registrant's name into English)
ROOM 610B, 6/ F PING'AN MANSION
NO. 23 FINANCIAL STREET
XICHENG DISTRICT, BEIJING 100032
CHINA
(86-10) 6621-0425
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
FORM 20-F [X] FORM 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):__________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):__________
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES [ ] NO [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 2g3-2(b): 82-__________.
CHINA FINANCE ONLINE CO. LIMITED
FORM 6-K
TABLE OF CONTENT
PAGE
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Signature Page 3
Press release regarding changes in senior management team, dated June 23, 2005 Page 4
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CHINA FINANCE ONLINE CO. LIMITED
By: /s/ Sam Qian
-------------------------------------
Name: Sam Qian
Title: President and Chief Financial Officer
Date: June 23, 2005
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CHINA FINANCE ONLINE ANNOUNCES CHANGES IN SENIOR MANAGEMENT TEAM
BEIJING, June 23 /Xinhua-PRNewswire/ -- China Finance Online Co., Limited
(Nasdaq: JRJC), a leading Chinese online financial information and listed
company data provider, today announced that Jun Ning, its Chairman and Chief
Executive Officer, has resigned from his positions with the company because of
his health condition, effective July 25, 2005. The Board of Directors has
appointed Mr. Zhiwei Zhao as Chief Executive Officer and a member of the Board
of Directors, effective July 25, 2005. Mr. Hugo Shong was appointed as Chairman
of the Board of Directors. Mr. Jun Ning will continue to work with the board and
the Company in a consulting role after his resignation to ensure a smooth
transition to new leadership for the Company.
"Jun Ning has provided strong leadership to China Finance Online and has
successfully grown the company from a $100,000 start-up to a NASDAQ listed
public company," said Hugo Shong, the newly appointed chairman of the Board of
Directors. "Under Jun's direction, China Finance Online has become a leading
online financial information service provider in China. We regret that Jun has
to leave us because of his health condition. We thank him for his 5-year
indispensable contributions to the company and look forward to his advice during
the management transition over the coming months."
"We believe that Zhiwei's distinguished track record, successful industry
experience and sufficient understanding of the great opportunities ahead of
China Finance Online make him the best choice for CEO," Hugo continued.
Jun Ning also expressed his pride in the team he built and what they had
accomplished together. "Zhiwei is an experienced leader. I am glad to have a
successor like him and I am very confident that he and the new senior management
team will help China Finance Online to continue to innovate for future growth
and move to the next level in terms of success and delivering shareholder
value."
"I'm very excited to join this outstanding team," said Mr. Zhao. "Their
incredible dedication to the high-quality services they provide impressed me
especially, and I'm looking forward to working with them to seize every
opportunity and to meet all the challenges."
Hugo Shong has been with International Data Group since 1993. In 1993, Mr. Shong
assisted Mr. Patrick McGovern in establishing the $50 million IDGVC venture fund
in Beijing, Shanghai and Guangdong. In the past few years, he has helped IDG to
acquire or launch nearly 10 IT publication joint ventures and magazines in
China. Mr. Shong is responsible for IDG's businesses in 15 Asian countries and
regions. He also serves as a director for several public and private companies
in both China and the U.S. He received a Master's Degree in Communication from
Boston University and finished graduate programs at the Fletcher School of Law &
Diplomacy in 1987 and the Business School of Harvard University in 1996.
Zhiwei Zhao has been the Chairman of the Board of Directors of Abitcool Inc
since 2005. Abitcool is a company that provides broadband internet services in
China. It boasts the largest private Internet Data Center in China. From 1998 to
2005, he served as the General Manager of Huatong International Development
Limited in Hong Kong. Mr. Zhao graduated with a Bachelor of Science degree from
Huazhong University of Science and Technology.
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NOTE TO INVESTORS
China Finance Online will host a live conference call to discuss the transition
of the management team. Set forth below is detailed information concerning the
call:
WHEN: 9:00PM Eastern Time on June 23, 2005 (or 9:00AM June 24, 2005 in the Hong
Kong/Beijing Time Zone)
Dial-in Numbers:
U.S Toll Free: +1 877 847 0047
Hong Kong Toll Free: +852 3006 8191
Singapore Toll Free: +800 852 3396
Password for all regions: 7447
Replay: A replay of the event will be available for 16 days at:
U.S: +1 877 847 0047
Hong Kong: +852 3006 8191
Singapore: +800 852 3396
Pass code for all regions: 767635
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements. These statements are made
under the "safe harbor" provisions of 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
Business Highlights section and quotations from management in this press
release, as well as China Finance Online's strategic and operational plans,
contain forward-looking statements. China Finance Online may also make written
or oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on forms 20-F and 6-K, etc., in its annual
report to shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about China
Finance Online's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ materially from those
contained in any forward-looking statement. Potential risks and uncertainties
include, but are not limited to, China Finance Online's historical losses, its
limited operating history, declines or disruptions in the online financial
industry, the recurrence of SARS, China Finance Online's reliance on
relationships with Chinese stock exchanges and raw data providers, fluctuations
in quarterly operating results, failure to successfully compete against new and
existing competitors, and other
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risks outlined in China Finance Online's filings with the U.S. Securities and
Exchange Commission, including its registration statement on Form F-1, as
amended. China Finance Online does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.
ABOUT CHINA FINANCE ONLINE CO. LIMITED
China Finance Online Co. Limited specializes in providing online financial and
listed company data and information in China. Through its website,
http://www.jrj.com, the company offers subscription-based service packages that
integrate financial and listed company data and information 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 that is available by download.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jing Wu
China Finance Online Co. Limited
Tel: (+86-10) 6621-0425
Email: ir@jrj.com
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