China Finance Online Co., Ltd. announced that the 2015 Annual General Meeting held on June 30, 2015 has approved the elections of Mr. Zheng Chen, Mr. Jian Wang and Mr. Yaowei Zhang as independent directors of the Board of Directors (the "Board") of the company effective June 30, 2015. Dr. Zheng Chen (Z. James Chen) has been the Chief Financial Officer of Origin Agritech Limited ("Origin"), since January 2012. Mr. Jian Wang has been the president of Five Star Holdings Limited since 2013.

Dr. Yaowei Zhang has been an Independent Director of Shanghai Cimic Holdings Co., Ltd. since March 2014. Mr. Zhang was also a Director of China Communication Telecom Services Co., Ltd. On July 3, 2015, the Board has approved the appointment of Mr. Zheng Chen as a member and the chairman of the Audit Committee, Mr. Jian Wang as a member of each of the Audit Committee, the Compensation Committee and the Nomination Committee and Mr. Yaowei Zhang as a member of each of the Audit Committee, the Compensation Committee and the Nomination Committee, with immediate effect.