China Finance Online Co. Limited (CFO Hong Kong) provides online financial and listed company data and information in China. The Company operates in two operating segments: online financial data subscription service and other related services, and brokerage service. The Company offers subscription-based services on a single information platform that integrates data and information from multiple sources with features and functions, such as data and information search, retrieval, delivery, storage and analysis. The Company delivers these features and functions using software tools that it has developed, which it refers to as research tools. During the year ended December 31, 2008, the Company acquired three VIEs, CFO Zhongcheng, CFO Huifu and CFO Newrand.