China Finance Online Co., Ltd. (NASDAQ:JRJC) Q2 2020 Earnings Conference Call - Final Transcript

Sep 24, 2020 • 08:00 am ET


China Finance Online Co., Ltd. (NASDAQ:JRJC) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the China Finance Online Q2 2020 Conference Call. [Operator Instructions] I would now hand the conference over to your first speaker, Mr. Dixon Chen. Sir, please go ahead.

Dixon Chen

Thank you, operator. Welcome to China Finance Online's 2020 second quarter and first six months financial results earnings conference call. With us today are Mr. Zhiwei Zhao, Chairman and CEO; and Ms. Julie Zhu, acting CFO. Mr. Zhao will provide a summary of business dynamics in the quarter, and then Ms. Julie will review the quarterly financial results. Thereafter, the management will hold a question-and-answer session.

Before we begin, I want to remind all listeners that throughout this call, we may present statements that may contain forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. The words belief, estimates, plans, expects, anticipate, projects, targets, optimistic, intend, aim, future, will or similar expressions are intended to identify forward-looking statements.

All statements other than historical facts may be deemed forward-looking statements. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning China Finance Online's operations, financial performance and conditions.

China Finance Online cautions that these statements, by their nature, involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including those discussed in China Finance Online's reports filed with the Securities and Exchange Commission from time to time.

China Finance Online specifically disclaims any obligation to update the forward-looking statements in the future.

At this time, I would now like to turn the conference call over to Mr. Zhao. [Foreign Speech]

Zhiwei Zhao

[Foreign Speech] Good morning and good evening. Thank you for joining today's call.During the second quarter of 2020, the Chinese economy and stock markets staged a strong comeback as the pandemic was mostly contained. As a result of improved market sentiment, along with our more effective new marketing programs and extensive product and services provisions, our financial information and advisory business experienced solid rebound.

[Foreign Speech]

We further reduced our bottom line losses in the second quarter as our diversified offerings, especially in the personal wealth management category continues to gain traction. And our ongoing cost control proved to be effective.

[Foreign Speech]

In the post-COVID era, businesses in China, big or small, are facing unprecedented uncertainties that present both challenges and opportunities. As a professional financial media, we have continued to introduce more innovative marketing strategies that leverage our advantages in mediate resources and capital market services experience not only to promote more transparent and long-term sustainable development of Chinese capital markets, but also help position publicly listed companies to increase their exposure among investment community and deliver a well-crafted message to investors in this post-COVID area.

In September, we successfully hosted two impactful events to gather thought leaders, elite investors and Chinese operators in healthcare and real estate sectors to discuss the growth trends and investment opportunities. Our mission remains to help operators