[China Finance Online Reports 2012 First Quarter Unaudited Financial Results Beijing, China, June 27, 2012 – China Finance Online Co. Limited (“China Finance Online”, “the Company”) (NASDAQ GS: JRJC) 2012 Q1 Financial Summary • Net revenues were $9.1 million compared with $15.0 million for the first quarter of 2011; • Gross profit was $7.1 million compared with $12.7 million for] [China Finance Online Co. Limited]

[Changes of Board Members On May 29, 2012, Mr. Ling Wang resigned from the Board of Directors (the “Board”) for personal reasons and the Board has approved the election of Mr. Jun Wang, the Company’s Chief Financial Officer, as a director, effective immediately. Mr. Jun Wang will continue to serve as the Chief Financial Officer of the Company. Mr. Jun]

[CHINA FINANCE ONLINE CO. LIMITED NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS AND PROXY STATEMENT Notice is hereby given that an Annual General Meeting of Shareholders, or the Meeting, of China Finance Online Co. Limited, or the Company, will be held on June 29, 2012 at 10:00 a.m., Beijing time, at the offices of the Company, 9 th Floor of] [ORDINARY RESOLUTIONS 1. To re-elect Neo Chee Beng as a Director. ¨ ¨ ¨ 2. To re-elect Rongquan Leng as a Director. ¨ ¨ ¨ 3. To re-elect Jun Wang as a Director. ¨ ¨ ¨ 4. To re-elect Kheng Nam Lee as a Director. ¨ ¨ ¨ 5. To approve the re-appointment of Deloitte Touche Tohmatsu CPA Ltd. as] [ORDINARY RESOLUTIONS 1. To re-elect Neo Chee Beng as a Director. 2. To re-elect Rongquan Leng as a Director. 3. To re-elect Jun Wang as a Director. 4. To re-elect Kheng Nam Lee as a Director. 5. To approve the re-appointment of Deloitte Touche Tohmatsu CPA Ltd. as independent auditors of the Company for a term ending on the date] [3 4 EX-99.1 NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS AND PROXY STATEMENT FOR ANNUAL GENERAL MEETING EX-99.2 FORM OF PROXY CARD FOR HOLDERS OF ORDINARY SHARES EX-99.3 FORM OF PROXY CARD FOR HOLDERS OF AMERICAN DEPOSITORY SHARES]

[CHINA FINANCE ONLINE CO. LIMITED http:///www.sec.gov http://ir.chinafinanceonline.com/phoenix.zhtml?c=183451&p=irol-reportsannual The directors of China Finance Online Co. Limited, or the Company, present their report and the audited financial statements for the year ended December 31, 2011, or the Financial Statements, which can be accessed through the SEC website at PRINCIPAL ACTIVITIES The Company acts as an investment holding company and provides corporate management] [TABLE OF CONTENTS 3 4 2]