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China Finance Online (ticker: JRJC) held a conference call last week to address recent management changes. Here is what participants including outgoing Chairman and CEO Jun Ning, newly appointed CEO Zhiwei Zhao, and incoming Board Chair Hugo Shong had to say:

  • The company's subscription business remains weak.
  • Its personal finance product for individuals looks promising and will be rolled out in Q3.
  • Current
    strategy has been successful. 
  • New management will stick with the
    existing strategy going forward.
  • The goal is to speed the roll-out of
    new products.

Comment: A major management shake-up and no change of strategy???? Subscription growth has been flat, the company is searching for new sources of revenue, the stock is down (a lot!) and the company is planning to stay the course? Hmmm......

See what management said would drive Q2 revenue here.

JRJC chart.

Jrjc628

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Source: New management to stay the course (JRJC)