China Finance Online Regaining of Minimum Bid Price Compliance

According to the letter received from the Staff on January 21, 2020, the closing bid price of the Company's American Depositary Shares has been at $1.00 per share or greater for a minimum of 10 consecutive business days, and the Company has regained compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) for continued listing on the Nasdaq Global Select Market.