China Finance Online announces the quarter four and full year 2019 unaudited financial results of the company on Thursday. According to the financial details released by the company, it has collected a net revenue of $8.7 million with an increase of $0.6 million as compared to the Q3 2019. The company’s revenue from advertising increased 15.2% as compared to the Q3 2020 financial results.
The company has recorded 38.3 year-over-year revenue from institutional customers and 62.5% year-over-year revenue from investment advisory. The gross of the margin stood to 63.8% from 62.3% in the Q3 2019.
The company has recorded the net loss to $3.4 million as compared to the net loss of $4.4 million in Q4 2018 and $2.1 million in Q3 2019. The net loss attributable to the company reached to $11.3 million as compared to $20.0 million in 2018.
Chief Executive Officer and Chairman of the China Finance Online, Mr. Zhiwei Zhao said, “We closed out the year by cutting the total loss for 2019 almost in half compared with 2018. Excluding one-time nonrecurring charges, our fourth quarter results also indicated a sequential improvement in net loss. As we further improve our operational efficiency, we are also actively seeking opportunities for us to capitalize on. Despite the volatility in the Hong Kong market in the third and fourth quarters of 2019, we managed to stabilize our blended gross margin by adjusting our revenue mix.”
“We achieved that by increasing our investment advisory services and growing sales to institutional customers. With more retail investors who are seeking professional advice to navigate through the complex market, we have observed that our innovations in our stock resarch system over the years, are gaining traction in the marketplace,” Mr. Zhiwei further added.
“As more institutions are shifting to the wealth management business, sophisticated research tools like ours will play an increasingly important role for wealth advisors in helping their clients to formulate better financial planning,” Mr. Zhiwei Zhao concluded.
Sandra Hayes is a Master’s in Business Administration by education. After completing her post-graduation, Sandra jumped the journalism bandwagon as a freelance journalist. Soon after that she landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor. As an avid day trader, Sandra is a master of technical analysis and writes tirelessly on how stocks are trading. She has extensive knowledge in technical analysis & news writing.
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