China Finance Online Co. Limited (JRJCY) 20-F 29 May 20 2019 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2019shares
Document Information [Line Items]
Entity Registrant Name	China Finance Online Co. LTD
Entity Central Index Key	0001297830
Trading Symbol	JRJC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2019
Document Type	20-F
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Title of 12(g) Security	American Depositary Shares, each representing 50 ordinary shares
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	122,098,018
Entity File Number	000-50975
Entity Incorporation, State or Country Code	K3
Entity Address, Address Line One	17th Floor of Fuzhuo Plaza A
Entity Address, Address Line Two	No. 28 Xuanwai Street, Xicheng District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100052
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Registration Statement	false
Document Accounting Standard	U.S. GAAP
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	17th Floor of Fuzhuo Plaza A
Entity Address, Address Line Two	No. 28 Xuanwai Street, Xicheng District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100052
Contact Personnel Name	Ying Zhu
Contact Personnel Fax Number	(86 10) 83363188
Contact Personnel Email Address	ir@jrj.com

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 9,599,824	$ 12,493,135
Prepaid expenses and other current assets	2,412,941	2,409,295
Trust bank balances held on behalf of customers	36,987,484	31,217,870
Accounts receivable - margin clients, net of allowance for doubtful accounts of $149,523 and $1,153,521 in 2018 and 2019, respectively	13,451,583	17,751,034
Accounts receivable - others, net of allowance for doubtful accounts of $3,407 and $234,439 in 2018 and 2019, respectively	12,382,170	7,101,910
Short - term investments	1,146,756
Total current assets	75,980,758	70,973,244
Property and equipment, net	4,271,733	4,459,334
Acquired intangible assets, net	74,477	85,154
Equity investments without readily determinable fair value	1,605,459	1,631,892
Equity method investment, net	766,583	778,721
Right-of-use assets	3,988,004
Rental deposits	769,961	963,575
Goodwill	108,416	107,791
Guarantee fund deposits	218,293	217,033
Deferred tax assets	1,380,842	1,472,606
Total assets	89,164,526	80,689,350
Current liabilities:
Deferred revenue, current (including deferred revenue, current of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $7,119,096 and $8,060,844 as of December 31, 2018 and December 31, 2019, respectively)	8,854,985	8,127,440
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $3,845,786 and $5,068,001 as of December 31, 2018 and December 31, 2019, respectively)	17,419,913	11,728,235
Amounts due to customers for the trust bank balances held on their behalf (including amounts due to customers for the trust bank balances held on their behalf of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $5,599,216 and $2,109,546 as of December 31, 2018 and December 31, 2019, respectively)	36,987,484	31,217,870
Accounts payable (including accounts payable of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $189,082 and $184,720 as of December 31, 2018 and December 31, 2019, respectively)	6,741,181	2,947,206
Lease liabilities, current (including lease liabilities, current of the consolidated variable interest entities without recourse to China Finance Online Co. Limited nil and $1,604,241 as of December 31, 2018 and December 31, 2019, respectively)	2,242,757
Income taxes payable (including income taxes payable of the consolidated variable interest entities without recourse to China Finance Online Co. Limited ($2,303) and $44,128 as of December 31, 2018 and December 31, 2019, respectively)	177,151	154,973
Total current liabilities	72,423,471	54,175,724
Deferred revenue, non-current (including deferred revenue, non-current of the consolidated variable interest entities without recourse to China Finance Online Co. Limited ($9,482) and nil as of December 31, 2018 and December 31, 2019, respectively)	151,490	149,107
Deferred tax liabilities (including deferred tax liabilities, non-current of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $12,678 and nil as of December 31, 2018 and December 31, 2019, respectively)	14,211	28,682
Lease liabilities, non-current (including lease liabilities, non-current of the consolidated variable interest entities without recourse to China Finance Online Co. Limited nil and $741,269 as of December 31, 2018 and December 31, 2019, respectively)	1,447,328
Total liabilities	74,036,500	54,353,513
Leases and contingencies (Note 21)
China Finance Online Co. Limited shareholder’s equity:
Ordinary shares (118,098,018 and 122,098,018 shares issued and outstanding as of December 31, 2018 and 2019, respectively)	57,006,534	57,001,017
Additional paid-in capital	36,925,874	36,079,122
Accumulated other comprehensive income	6,412,555	6,291,793
Retained deficits	(75,189,077)	(63,926,256)
Total China Finance Online Co. Limited shareholders’ equity	25,155,886	35,445,676
Noncontrolling interest	(10,027,860)	(9,109,839)
Total equity	15,128,026	26,335,837
Total liabilities and equity	$ 89,164,526	$ 80,689,350

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Accounts receivable - margin clients, net of allowance for doubtful accounts	$ 1,153,521	$ 149,523
Accounts receivable - others, net of allowance for doubtful accounts	234,439	3,407
Deferred revenue, current	8,060,844	7,119,096
Accrued expenses and other current liabilities	5,068,001	3,845,786
Amounts due to customers for the trust bank balances held on their behalf	2,109,546	5,599,216
Accounts payable	184,720	189,082
Variable interest entity, consolidated, liabilities, current, no recourse	1,604,241
Income taxes payable	44,128	(2,303)
Deferred revenue, non-current		(9,482)
Deferred tax liabilities, non-current		$ 12,678
Variable interest entity, consolidated, liabilities, non-current, no recourse	$ 741,269
Ordinary shares, shares issued	122,098,018	118,098,018
Ordinary shares, shares outstanding	122,098,018	118,098,018

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net revenues
Total revenue from external customers	$ 35,518,790	$ 45,477,926	$ 42,622,650
Cost of revenues	12,974,135	16,841,915	21,933,678
Gross profit	22,544,655	28,636,011	20,688,972
Operating expenses:
General and administrative (including share-based compensation of $2,739,892, $1,829,364 and $977,519 for 2017, 2018 and 2019, respectively)	12,186,108	14,254,137	15,250,086
Product development (including share-based compensation of $216,374, $191,708 and $62,298 for 2017, 2018 and 2019, respectively)	9,144,180	13,924,460	16,208,000
Sales and marketing (including share-based compensation of $111,947, $219,440 and $74,011 for 2017, 2018 and 2019, respectively)	13,363,921	22,065,504	29,467,593
Loss from impairment of intangible assets	0	0	291,817
Total operating expenses	34,694,209	50,244,101	61,217,496
Government subsidies			230,174
Income (loss) from operations	(12,149,554)	(21,608,090)	(40,298,350)
Interest income	33,397	96,679	487,007
Interest expense		(1,101)	(3,204)
Exchange gain (loss), net	(134,172)	246,680	(131,461)
Loss on the interest sold and retained noncontrolling investment	(299,645)	(1,186,852)	(1,996,361)
Gain from sale of equity method investment			111,224
Income (Loss) from equity method investment	391	470	(13,404)
Other income (expense), net	22,692	34,498	(219,472)
Loss before income tax expense	(12,526,891)	(22,417,716)	(42,064,021)
Income tax expense	(216,857)	(52,779)	(324,416)
Net loss	(12,743,748)	(22,470,495)	(42,388,437)
Less: net loss attributable to the noncontrolling interest	(1,480,927)	(2,520,375)	(5,651,884)
Net loss attributable to China Finance Online Co. Limited	$ (11,262,821)	$ (19,950,120)	$ (36,736,553)
Net loss per share attributable to China Finance Online Co. Limited
Basic and Diluted	$ (0.10)	$ (0.18)	$ (0.32)
Weighted average shares used in calculating net loss per share
Basic and Diluted	114,687,282	113,883,030	113,601,949
Other comprehensive income (loss), net of tax:
Changes in foreign currency translation adjustment	$ 120,762	$ (362,398)	$ 2,400,548
Net unrealized gain (loss) from short-term investments available-for-sale	11,743	(72,755)	63,303
Less: reclassification adjustment for net (gains) losses included in net income	(11,743)	72,755	(63,303)
Other comprehensive income (loss), net of tax	120,762	(362,398)	2,400,548
Comprehensive loss	(12,622,986)	(22,832,893)	(39,987,889)
Less: comprehensive loss attributable to the noncontrolling interest	(1,480,927)	(2,520,375)	(5,651,884)
Comprehensive loss attributable to China Finance Online Co. Limited	(11,142,059)	(20,312,518)	(34,336,005)
Hong Kong Brokerage Services Revenues
Net revenues
Total revenue from external customers	15,799,347	22,343,950	25,281,733
Financial Information and Advisory Services Revenues
Net revenues
Total revenue from external customers	10,674,164	14,891,267	10,271,822
Advertising Revenues
Net revenues
Total revenue from external customers	8,310,150	7,312,947	3,588,499
Commodities Brokerage Services Revenues
Net revenues
Total revenue from external customers		49,960	2,588,426
Others
Net revenues
Total revenue from external customers	$ 735,129	$ 879,802	$ 892,170

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation	$ 1,113,828	$ 2,240,512	$ 3,068,213
General and Administrative
Share-based Compensation	977,519	1,829,364	2,739,892
Product Development
Share-based Compensation	62,298	191,708	216,374
Selling and Marketing
Share-based Compensation	$ 74,011	$ 219,440	$ 111,947

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)	Total	Ordinary Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings/(Deficits)	Total China Finance Online Co. Limited Shareholders' Equity	Non Controlling Interest
Balance at Dec. 31, 2016	$ 81,794,810	$ 56,973,632	$ 32,176,992	$ 4,253,643	$ (7,239,583)	$ 86,164,684	$ (4,369,874)
Balance, shares at Dec. 31, 2016		118,098,018
Exercise of share options by employees	26,785	$ 26,785				26,785
Share-based compensation	3,068,213		2,191,218			2,191,218	876,995
Deconsolidation	809,692						809,692
Foreign currency translation adjustment	2,400,548			2,400,548		2,400,548
Net loss	(42,388,437)				(36,736,553)	(36,736,553)	(5,651,884)
Balance at Dec. 31, 2017	45,711,611	$ 57,000,417	34,368,210	6,654,191	(43,976,136)	54,046,682	(8,335,071)
Balance, shares at Dec. 31, 2017		118,098,018
Exercise of share options by employees	600	$ 600				600
Share-based compensation	2,240,512		1,710,912			1,710,912	529,600
Deconsolidation	1,216,007						1,216,007
Foreign currency translation adjustment	(362,398)			(362,398)		(362,398)
Net loss	(22,470,495)				(19,950,120)	(19,950,120)	(2,520,375)
Balance at Dec. 31, 2018	26,335,837	$ 57,001,017	36,079,122	6,291,793	(63,926,256)	35,445,676	(9,109,839)
Balance, shares at Dec. 31, 2018		118,098,018
Issuance of ordinary shares for the plan of share options and restricted shares	520	$ 520				520
Issuance of ordinary shares for the plan of share options and restricted shares, shares		4,000,000
Exercise of share options by employees	4,997	$ 4,997				4,997
Share-based compensation	1,113,828		846,752			846,752	267,076
Deconsolidation	295,830						295,830
Foreign currency translation adjustment	120,762			120,762		120,762
Net loss	(12,743,748)				(11,262,821)	(11,262,821)	(1,480,927)
Balance at Dec. 31, 2019	$ 15,128,026	$ 57,006,534	$ 36,925,874	$ 6,412,555	$ (75,189,077)	$ 25,155,886	$ (10,027,860)
Balance, shares at Dec. 31, 2019		122,098,018

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net loss	$ (12,743,748)	$ (22,470,495)	$ (42,388,437)
Adjustments to reconcile net loss to net cash provided by Operating activities:
Share-based Compensation	1,113,828	2,240,512	3,068,213
Depreciation and amortization	1,214,354	1,697,700	2,105,158
Provision of allowance for doubtful accounts	(1,226,833)	(149,429)
Gain from equity method investment	(391)	(470)	(97,820)
(Gain) Loss from short-term investments	(11,743)	72,755	(63,303)
Deferred taxes	72,770	(116,254)	(231,667)
Loss on disposal of property and equipment	367,221	854,160	124,696
Loss from impairment of intangible assets			291,817
Loss on the interest sold and retained noncontrolling investment	299,645	1,186,852	1,996,361
Changes in assets and liabilities:
Accounts receivable, others	(5,014,134)	1,774,118	4,896,250
Accounts receivable, margin clients	5,373,265	(9,600,921)	(515,614)
Prepaid expenses and other current assets	1,554,475	559,702	(1,105,245)
Operating lease right-of-use assets	(4,011,960)
Trust bank balances held on behalf of customers	(5,618,799)	7,601,562	(5,987,800)
Rental deposits	185,294	138,485	15,652
Guarantee deposit funds		307,883	5,616,733
Deferred revenue	873,728	(1,659,248)	3,517,988
Account payable	3,758,493	(6,473,854)	298,975
Accrued expenses and other current liabilities	(728,604)	(683,420)	(3,483,073)
Operating lease liabilities	3,710,693
Amounts due to customers for the trust bank balance held on their behalf	5,618,799	(7,601,562)	5,987,800
Income taxes payable	21,901	(392,551)	(951,595)
Net cash used in operating activities	(5,191,746)	(32,714,475)	(26,904,911)
Investing activities:
Purchase of property and equipment	(1,552,537)	(340,629)	(2,472,409)
Proceeds from disposal of affiliates (Note 9)		4,950	1,576,467
Proceeds from transfer of equity method investment			350,181
Purchase of short-term investments	(10,091,454)	(8,995,273)	(71,492,241)
Proceeds from sales of short-term investments	8,956,178	9,437,363	87,946,966
Acquisition of cost method investment			(76,520)
Net cash provided by (used in) investing activities	(2,687,813)	106,411	15,832,444
Financing activities:
Proceeds from stock options exercised by employees and issuance of ordinary shares	4,997	600	26,786
Funds received from third-party investors	4,947,000	4,466,000
Repayment of Yinglibao Clients			(19,083,181)
Net cash provided by (used in) financing activities	4,951,997	4,466,600	(19,056,395)
Effect of exchange rate changes	34,251	(93,906)	2,222,371
Net (decrease) increase in cash and cash equivalents	(2,893,311)	(28,235,370)	(27,906,491)
Cash, cash equivalents and restricted cash at beginning of the year	12,493,135	40,728,505	68,634,996
Cash, cash equivalents and restricted cash at end of the year	9,599,824	12,493,135	40,728,505
Supplemental disclosure of cash flow information
Income taxes paid	10,130	504,462	1,510,281
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	9,599,824	12,493,135	38,692,871
Restricted cash			2,035,634
Cash, cash equivalents and restricted cash at end of the year	$ 9,599,824	$ 12,493,135	$ 40,728,505

Organization and Principal Acti

Organization and Principal Activities	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Principal Activities	1. China Finance Online Co. Limited (“China Finance Online” or the “Company”) was incorporated in Hong Kong on November 2, 1998. China Finance Online, its subsidiaries, its variable interest entities (“VIEs”) and its VIEs’ subsidiaries (collectively, the “Company”) is a leading web-based financial services company in China. The Company provides Chinese retail investors with online access to securities and commodities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company’s prominent flagship portal site, www.jrj.com, is ranked among the top financial websites in China. In 2015, the Company integrated its web-based trading platform Yinglibao iTougu Yinglibao In 2016, the Company continued to develop our wealth management business, securities investment advisory business, financial database subscription business, individual research tool subscription business, advertisement business, and securities, commodities as well as futures trading business. In addition, we launched a new business line of online peer-to-peer lending. In 2017, the Company was forced to suspend commodities brokerage business due to the suspension of new commodities trading by most of precious metal exchange in China. In addition, the Company offers basic financial software, information services and securities investment advisory services to retail investors in China. Through its subsidiary, Shenzhen Genius Information Technology Co., Ltd., the Company provides financial database and analytics to institutional customers including domestic financial, research, academic and regulatory institutions. China Finance Online also provides brokerage services in Hong Kong. Details of China Finance Online’s significant subsidiaries, VIEs and VIEs’ subsidiaries as of December 31, 2019 were as follows: Company name Place of incorporation or establishment Date of incorporation or acquisition Legal ownership interest Principal activity Subsidiaries: China Finance Online (Beijing) Co., Ltd. (“CFO Beijing”) Beijing, PRC Jul. 9, 1998 100% N/A Fortune Software (Beijing) Co., Ltd. (“CFO Software”) Beijing, PRC Dec. 7, 2004 100% N/A Shenzhen Genius Information Technology Co., Ltd. (“CFO Genius”) Shenzhen, PRC Sep. 21, 2006 100% Subscription service Zhengyong Information & Technology (Shanghai) Co., Ltd. (“CFO Zhengyong”) Shanghai, PRC Aug. 17, 2008 100% N/A Zhengtong Information Technology (Shanghai) Co., Ltd (“CFO Zhengtong”) Shanghai, PRC Jun. 24, 2008 100% N/A Rifa Financial Holdings Limited (“Rifa Financial Holdings”) (Formerly known as “iSTAR Financial Holdings Limited”) BVI Jul. 16, 2007 85% Investment holdings Rifa Securities Limited (“Rifa Securities”) (Formerly known as “iSTAR International Securities Co. Limited”) Hong Kong, PRC Nov. 23, 2007 85% Brokerage service Rifa Futures Limited (“Rifa Futures”) (Formerly known as “iSTAR International Futures Co. Limited”) Hong Kong, PRC Apr. 16, 2008 85% Brokerage service Rifa Asset Management Limited (“Rifa Asset Management”) Hong Kong, PRC Nov. 15, 2016 85% Asset management service Rifa Credit Limited (“Rifa Credit”) (Formerly known as “iSTAR International Credit Co. Limited”) Hong Kong, PRC Feb. 10, 2012 85% N/A Rifa Wealth Management Co. Limited (“Rifa Wealth Management”) Hong Kong, PRC Sep. 13, 2016 85% Insurance brokerage service Variable interest entities: Beijing Fuhua Innovation Technology Development Co., Ltd. (“CFO Fuhua”) Beijing, PRC Dec. 31, 2000 Nil Web portal and advertising service Shenzhen Newrand Securities Advisory and Investment Co., Ltd. (“CFO Newrand”) Shenzhen, PRC Oct. 17, 2008 Nil Securities investment advising Shanghai Stockstar Wealth Management Co., Ltd. (“Stockstar Wealth Management”) Shanghai, PRC Apr. 12, 2011 Nil N/A Beijing Huizhi Fortune Technology Co., Ltd. (“CFO Huizhi”) Beijing, PRC Jun. 14, 2012 Nil N/A Shenzhen Ganlanren Investment Management Co., Ltd. (“CFO Shenzhen Ganlanren”) Shenzhen, PRC Feb. 18, 2016 Nil N/A Beijing CFO Premium Technology Co., Ltd. (“CFO Premium”). Beijing, PRC June 2, 2009 Nil N/A Beijing CFO Glory Technology Co., Ltd. Beijing, PRC Sep. 11, 2007 Nil N/A Subsidiaries of variable interest entities: Shenzhen Newrand Securities Training Center (“CFO Newrand Training”) Shenzhen, PRC Oct. 17, 2008 Nil Securities investment training Fortune (Beijing) Huiying Investment Consulting Co., Ltd. (“CFO Huiying”) Beijing, PRC Dec. 18, 2009 Nil N/A Shenzhen Tahoe Investment and Development Co., Ltd (“CFO Tahoe”) Shenzhen, PRC Sep. 30, 2013 Nil N/A Zhengjin (Tianjin) Precious Metals Investment Co., Ltd. (“CFO Zhengjin Tianjin”) Tianjin, PRC Jul. 23, 2013 Nil Commodities brokerage Beijing Jiayi Management Co., Ltd. (“CFO Zhengjin Beijing”) Beijing, PRC Jan. 13, 2014 Nil Commodities brokerage Yinglibao (Beijing) Technology Co., Ltd. (“CFO Yinglibao”) Beijing, PRC Jan. 15, 2014 Nil Internet-based financial platform Zhengjin (Jiangsu) Precious Metals Co., Ltd. (“CFO Zhengjin Jiangsu”) Nanjing, PRC Nov. 19, 2014 Nil Commodities brokerage Zhengjin (Fujian) Precious Metals Co., Ltd. (“CFO Zhengjin Fujian”) Fujian, PRC Jan. 6, 2013 Nil Commodities brokerage Qingdao Zhengjin Zhida Trading Co., Ltd. (“CFO Qingdao Zhida”) Qingdao, PRC Dec. 21, 2015 Nil Commodities brokerage Tibet Lieqian Network Technology Co., Ltd. Tibet, PRC Mar. 18, 2016 Nil Commodities brokerage Qingdao Zhengjin Taiji Trading Co., Ltd. (“CFO Qingdao Taiji”) Qingdao, PRC Mar. 23, 2016 Nil Commodities brokerage iTougu (Beijing) Network Technology Co., Ltd. (“CFO iTougu”) Beijing, PRC Dec. 8, 2014 Nil Investment advisory service platform Beijing Zhongjun Sunshine Investment and Management Co., Ltd (“CFO Zhongjun Sunshine”) Beijing, PRC Sep. 30, 2013 Nil Financial service Zhongheng Xintai (Beijing) Asset Management Co., Ltd. (“CFO Zhongheng Xintai”) Beijing, PRC Jun. 8, 2016 Nil N/A Beijing Zhengjin Wealth Management Co., Ltd. Beijing, PRC Dec. 24, 2004 Nil Commodities brokerage Shenzhen Rifa Commercial Factoring Co. Ltd. Shenzhen, PRC Oct. 20, 2016 Nil Financial service Shanghai Stockstar Information & Technology Co., Ltd. Shanghai, PRC Dec. 24, 2009 Nil N/A Shanghai Shangtong Co., Ltd. Shanghai, PRC Jun. 6, 2008 Nil N/A Shanghai Ganlan Wealth Asset Management Co., Ltd. Shanghai, PRC Dec. 19, 2014 Nil N/A Beijing Chuangying Advisory and Investment Co., Ltd. ("CFO Chuangying") Beijing, PRC Oct. 9, 1997 Nil P2P Lending Service Shanghai Chongzhi Co., Ltd. Shanghai, PRC Jun. 6, 2008 Nil N/A Tibet Fortune Jinyuan Network Technology Co., Ltd. Tibet, PRC Aug. 22, 2015 Nil N/A The consolidated financial statements of the Company include the financial statements of the Company and its controlled operating entities including the subsidiaries and the variable interest entities for which the Company is the primary beneficiary. A variable interest entity is the entity in which the Company, through contractual arrangements as the primary beneficiary, bears the risks of, and enjoys the rewards normally associated with ownership of the entity. People’s Republic of China (“PRC”) regulations prohibit or restrict direct foreign ownership of business entities providing certain services in PRC, such as internet content service and securities investment advisory service. In order to comply with these regulations, China Finance Online, through its subsidiaries, entered into contractual arrangements with the Company’s VIEs and their equity owners who are PRC citizens. The Company made loans to the shareholders of the VIEs solely for the purposes of capitalizing the VIEs. Pursuant to the loan agreements, these loans can only be repaid by transferring all of their interests in the VIEs to the Company or a third party designated by the Company. The Company has entered into proxy agreements or power of attorney and exclusive equity purchase option agreements with the VIEs and nominee shareholders of the VIEs through the Company’s wholly owned significant subsidiaries including CFO Beijing, CFO Software and CFO Zhengtong (collectively, the “ WFOEs WFOE Despite the lack of technical majority ownership, the agreements with the VIEs provide the WFOEs with effective control over and the ability to receive substantially all of the economic benefits of its VIEs, resembling a parent-subsidiary relationship between the WFOEs and the VIEs. The shareholders of the VIEs effectively assigned all of their voting rights underlying their equity interest in the VIEs to the WFOEs. In addition, through the other exclusive agreements, which consist of strategic consulting services agreement, technical support services agreement and operating support services agreement, the WFOEs demonstrate their ability and intention to continue to exercise the ability to absorb substantially all of the profits and all of the expected losses of the VIEs. The VIEs are subject to operating risks, which determine the variability of the Company’s interest in those entities. Based on these contractual arrangements, the Company consolidates the VIEs as required by SEC Regulation SX-3A-02 and Accounting Standards Codification (“ASC”) Topic 810 (“ASC 810”) because the Company holds all the variable interests of the VIEs through the WFOEs. The principal terms of the agreements entered into amongst the VIEs, their respective shareholders and the WFOEs are further described below. Exclusive technology consulting and management service agreement Pursuant to a series of technology support and service agreements, the WFOEs retain exclusive right to provide the VIEs and their subsidiaries technology support and consulting services and exclusive management consulting service. As a result of these services, the WFOEs are entitled to charge the VIEs and their subsidiaries annual service fees. The terms of the strategic consulting services agreement, the technical support services agreement and the operating support services agreement are twenty, ten and ten years, respectively, and these agreements will be automatically renewed on applicable expiration dates, unless the contracting WFOE informs the corresponding VIE its intention to terminate such contract one month prior to the applicable expiration date. Notwithstanding the foregoing, none of the parties has a right to terminate the service contracts. The principal services agreements that the WFOEs have entered into with VIEs include: • strategic consulting services agreement, pursuant to which the amount of the fee to be charged is 30% of each VIE’s income before tax; • technical support services agreement, pursuant to which the amount of the fee to be charged is 30% of each VIE’s income before tax; and • operating support services agreement, pursuant to which the amount of the fee to be charged is 40% of each VIE’s income before tax. Exclusive purchase right agreement on the equity interest of the VIEs Pursuant to the purchase option agreement, the WFOEs have the unconditional right to purchase the entire equity interest in, or all the assets of the VIEs at a price equal to the total principal amount of the loan lent by the WFOEs to the shareholders of the VIEs when and if such purchase is permitted by the PRC law or the current shareholders of the VIEs cease to be directors or employees of the VIEs. The term of the exclusive purchase right agreement is perpetual and can be terminated at the discretion of the WFOEs. Power of attorney Pursuant to the power of attorney, each of the shareholders of the VIEs have executed an irrevocable power of attorney assigning the WFOEs or individuals designated by the WFOEs as their attorney-in-fact to vote on their behalf on all matters of the VIEs requiring shareholder approval under PRC laws and regulations and the articles of association of VIEs. The Articles of Incorporation of the VIE state that the major rights of the shareholders include the right to appoint directors, the general manager and other senior management. Therefore, through the irrevocable power of attorney arrangement, the WFOEs have the ability to exercise effective control over the VIEs through shareholder votes and, through such votes, to also control the composition of the board of directors. In addition, the senior management team of the VIEs is the same as that of the WFOEs. The term of the power of attorney is twenty years and will be automatically renewed on the expiration date. The contract can be terminated at the discretion of the WFOEs. Pledge agreement Pursuant to the equity pledge agreement between the WFOEs and the shareholders of the VIEs, the shareholders of the VIEs pledged all of their equity interests in the VIEs to the WFOEs to guarantee the VIEs’ performance of its obligations under the exclusive technology consulting and service agreement. If the VIEs breach their contractual obligations under that agreement, the WFOEs, as the pledge, will be entitled to certain rights, including the rights to sell the pledged equity interests. The shareholders of the VIEs agree that, without prior written consent of the WFOEs, they will not transfer, sell, and dispose of or create any encumbrance on their equity interest in the VIEs. The term of the pledge agreement is twenty years and will be automatically renewed on the expiration date, unless the WFOEs inform the VIEs of their intention to terminate the agreement one month prior to the expiration date. Through these contractual agreements, the WFOEs have the ability to effectively control the VIEs and are also able to receive substantially all the economic benefits of the VIEs. Details of significant VIEs and their counterparts which substantially control the VIEs as of December 31, 2019 were as follows: VIE name Contractual arrangement date Counterpart CFO Fuhua May 27, 2004 CFO Beijing CFO Newrand July 11, 2018 CFO Software Stockstar Wealth Management April 12, 2011 CFO Zhengtong CFO Shenzhen Ganlanren April 20, 2017 CFO Software Beijing CFO Premium Technology June 2, 2009 CFO Software Risks in relation to the VIE structure The Company’s ability to control the VIEs also depends on the power of attorney the WFOEs have to vote on all matters requiring shareholder approval in the VIEs. As noted above, the Company believes this power of attorney is legally enforceable but may not be as effective as direct equity ownership. In addition, if the legal structure and contractual arrangements were found to be in violation of any existing PRC laws and regulations, the regulatory authorities may exercise their discretion and • revoke the business and operating licenses of our PRC subsidiaries or VIEs; • restrict the rights to collect revenues from any of our PRC subsidiaries; • discontinue or restrict the operations of any related-party transactions among our PRC subsidiaries or VIEs; • require our PRC subsidiaries or VIEs to restructure the relevant ownership structure or operations; • take other regulatory or enforcement actions, including levying fines that could be harmful to our business; or • impose additional conditions or requirements with which we may not be able to comply. The imposition of any of these penalties may result in a material adverse effect on the Company’s ability to conduct its business. In addition, if the imposition of any of these penalties causes the Company to lose the rights to direct the activities of the VIEs and their subsidiaries or the right to receive their economic benefits, the Company would no longer be able to consolidate the VIEs. The Company does not believe that any penalties imposed or actions taken by the PRC Government would result in the liquidation of the Company, its subsidiaries, or the VIEs. The Company has consolidated its VIEs because it was the primary beneficiary of those entities. Through the contractual agreements discussed above, the Company, through its wholly owned subsidiaries, has (1) the power to direct the activities of the VIEs that most significantly affect the entities’ economic performance and (2) the right to receive benefits from the VIEs, therefore it consolidates the VIEs. The VIEs hold important unrecognized revenue-producing assets, such as our domain names and Internet Content Provider Licenses with respect to www.jrj.com The following financial statement amounts and balances of the VIEs for which the Company is the primary beneficiary and their subsidiaries excluding intercompany elimination as of and for the years ended: December 31, 2018 2019 Assets Current assets: Cash and cash equivalents $ 1,254,459 $ 479,309 Accounts receivable – others, net 1,758,057 1,384,102 Others 8,390,567 3,385,334 Total current assets 11,403,083 5,248,745 Property and equipment, net 2,448,148 1,601,260 Equity investments without readily determinable fair value 1,631,892 1,605,459 Equity method investment, net 778,721 766,583 Rental deposits 590,284 451,975 Investment in subsidiaries 41,631,407 38,597,614 Deferred tax assets 1,292,263 1,238,319 Right-of-use assets — 2,630,373 Total assets $ 59,775,798 $ 52,140,328 Third-party liabilities: Current liabilities: Accrued expenses and other current liabilities $ 16,561,794 $ 16,886,760 Accounts payable 189,082 184,720 Total current liabilities 16,750,876 17,071,480 Non-current liabilities 3,197 741,269 Total third-party liabilities $ 16,754,073 $ 17,812,749 Inter-company liabilities (assets) $ (9,782,857 ) $ (9,272,913 ) Year ended December 31, 2017 2018 2019 Net revenues $ 19,556,988 $ 24,747,244 $ 17,497,599 Net loss $ (35,738,587 ) $ (10,013,159 ) $ (7,098,995 ) Year ended December 31, 2017 2018 2019 Net cash used in operating activities $ (27,938,791 ) $ (8,265,834 ) $ (841,958 ) Net cash (used in) provided by investing activities 16,669,443 (69,989 ) (1,650 ) Net cash used in financing activities (19,083,181 ) — — Effect of exchange rate changes $ (3,470,414 ) $ (621,698 ) $ 68,458 There are no consolidated VIE’s assets that are collateral for the VIE’s obligations and can only be used to settle the VIE’s obligations. Going Concern and Liquidity The Company has incurred net losses of $42.4 million, $22.5 million and $12.7 million in the years ended December 31, 2017, 2018 and 2019, respectively. The Company has generated negative cash flows from operating activities of $26.9 million, $32.7 million and $5.2 million in the years ended December 31, 2017, 2018 and 2019, respectively. As of December 31, 2019, our working capital was approximately $3.6 million. As of December 31, 2019, we have approximately $9.6 million in cash and cash equivalents and have $9.4 million overdue balance payable to the third party investors. To meet the needs of operational cash flow, the Company will need to raise additional funds to continue as a going concern and is currently exploring alternative sources of financing. These factors combined with the uncertainty generated by the economic reaction to the COVID-19 pandemic raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these financial statements are issued. On January 30, 2020, the World Health Organization declared the coronavirus outbreak a "Public Health Emergency of International Concern" and on March 10, 2020, declared it to be a pandemic. Actions taken around the world to help mitigate the spread of the coronavirus include restrictions on travel, and quarantines in certain areas, and forced closures for certain types of public places and businesses. The coronavirus and actions taken to mitigate it have had and are expected to continue to have an adverse impact on the economies and financial markets of many countries, including the geographical area in which the Company operates. China’s economic growth may continue to slow down due to the current outbreak of novel strain of coronavirus (COVID-19). The recent outbreak of COVID-19 has had an adverse impact on our operations and financial condition, including constraints on capital availability for institutional customers who reduced, delayed or canceled their subscriptions for our services because of tighter budget. Furthermore, the capital markets are experiencing pronounced volatility during the current global COVID-19 pandemic, which may adversely affect investor’s confidence and, in turn affect, our securities brokerage business in Hong Kong and our other businesses. The COVID-19 pandemic has adversely affected our revenue and cash flow. Considering the adverse effect of COVID-19, recurring operating losses and future operation requirements, we will continue to implement some cost-cutting measures and improve the overall efficiency, such as cutting spending, terminating some of lease contracts and optimizing marketing and R&D teams. In terms of business initiatives, we will focus our operations on customer-centric sales and will (i) continue to pursue strategies to increase our revenues from financial services and financial information and advisory services, (ii) continue to work closely with our current and prospective institutional customers, gradually penetrate the Chinese financial institutional market with our core fintech-powered intelligent financial products, and turn fintech research findings into scalable revenues, and (iii) continue to strengthen our content production capabilities in order to enhance influence and strive for more advertising client resources. In terms of financing activities, the COVID-19 has adversely impacted access to capital and slowed down our pace of financing. The extent to which COVID-19 will impact our business and financial results will depend on future developments, which are uncertain and cannot be predicted at this time.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Reclassification Certain amounts in the consolidated financial statements have been reclassified from their original presentation to conform to current year presentation. These reclassifications had no material impact on the consolidated financial statements as previously reported. Basis of consolidation The consolidated financial statements include the financial statements of China Finance Online, its subsidiaries, VIEs for which the Company is the primary beneficiary and those VIEs’ subsidiaries. All inter-company transactions and balances have been eliminated upon consolidation. Cash and cash equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments which are unrestricted as to withdrawal or use, and which have original maturities of three months or less when purchased. Restricted cash Restricted cash is the deposit in bank accounts for providing guarantee to perform the contract obligation related to “Yinglibao”, a mobile-based financial platform that integrates cash management solutions and mutual fund distribution. Fair value measurement Fair value is considered to be the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The three levels of inputs may be used to measure fair value include: Level 1 Level 2 Level 3 Financial instruments include cash and cash equivalents, restricted cash, accounts receivable, short-term investment, equity investments without readily determinable fair value, equity method investment and accounts payable. The carrying values of cash and cash equivalents, restricted cash, accounts receivable, short-term investments and accounts payable approximate their fair value due to their short-term maturities. The carrying value of acquired assets was nearly the fair value of the investment based on the valuation performed by the Company as of December 31, 2018 and 2019. See Note 3 for further discussion. The Company’s short-term investment consists of available-for-sale securities. See Note 5 and Note 6 for further discussion. The carrying value of the equity investment without readily determinable fair value was $1,631,892 and $1,605,459 as of December 31, 2018 and 2019, which are accounted for under the measurement alternative method of accounting. These investments are measured at cost, less any impairment, plus or minus any changes resulting from observable price changes in orderly transactions for an identical or similar investment. No dividends were paid to us in history. See Note 7 for further discussion. The carrying value of the equity method investment was $778,721 and $766,583 as of December 31, 2018 and 2019, which approximate the fair value of the investments at the acquired date and subsequently adjusted as the net assets of the investee change through the earning of income. See Note 8 for further discussion. The Company measures certain assets, including intangible assets and goodwill at fair value on a nonrecurring basis when they are deemed to be impaired. The fair values of goodwill and intangible assets are determined based on valuation techniques using the best information available, and may include management judgments, future performance projections, See Note 6 for further discussion. The Company measured the fair value for the assets acquired, with the assistance of an independent valuation firm, using discounted cash flow techniques, and these assets were valued using Level 3 inputs, because the Company used unobservable inputs to value them, reflecting the Company’s assessment of the assumptions market participants would use in valuing these purchased intangible assets. The Company does not use derivative instruments to manage risks. Trust bank balances held on behalf of customers Trust bank balances held on behalf of customers consist three parts: i) Rifa Securities and Rifa Futures receive fund from customers for purpose of buying or selling securities and futures on behalf of its customers and deposits the fund in its interest-bearing bank account; ii) The funds received by CFO Newrand from customers who purchase mutual funds and other wealth management products which are deposited in a trust bank account, iii) Funds received by Beijing Chuangying from customers who invest in P2P lendings which are deposited in a trust bank account. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Company’s consolidated financial statements include account receivable, cost method investment, equity method investment, impairment of goodwill and long-lived assets, income taxes, share-based compensation and purchase price allocation. Actual results could differ from those estimates. Short-term investments Short-term investments comprise marketable debt securities, which are classified as available-for-sale. Short-term investments classified as available for sale are carried at their fair values and the unrealized gains or losses from the changes in fair values are included in accumulated other comprehensive income. Gains and losses from sale of available for sales securities are recognized in short-term investment income or loss of the statements of operations and comprehensive loss. Available for sale securities are classified as current assets on the accompanying consolidated balance sheets because they are available for immediate sale. The Company reviews its short-term investments for other-than-temporary impairment based on the specific identification method. The Company considers available quantitative and qualitative evidence in evaluating potential impairment of its short-term investments. If the cost of an investment exceeds the investment’s fair value, the Company considers, among other factors, general market conditions, government economic plans, the duration and the extent to which the fair value of the investment is less than the cost, and the Company’s intent and ability to hold the investment, in determining if impairment is needed. Property and equipment, net Property and equipment, net are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives: Technology infrastructure 5 years Computer equipment 5 years Furniture, fixtures and equipment 5 years Motor vehicle 5 years Leasehold improvements Shorter of the lease term or 5 years Acquired intangible assets, net Acquired intangible assets are estimated by management based on the fair value of assets acquired. Identifiable intangible assets are carried at cost less accumulated amortization. Amortization of definite-lived intangible assets is computed using the straight-line method over the estimated average useful lives, which are as follows: License and related trademarks 10-15 years Completed technology 5 years Customer relationship 4-5 years Certain trademarks resulting from the acquisitions of business and certain trading rights bought by the Company are determined to have indefinite lives. If an intangible asset is determined to have an indefinite life, it is not amortized until its useful life is determined to be no longer indefinite. Guarantee fund deposits Guarantee fund deposits consist of i) the funds deposited with Hong Kong Exchange and Clearing Limited by Rifa Futures, to guarantee its customers’ settlement obligations; ii) the funds deposited with the commodities exchanges as a result of its customers’ trading. The Company needs to deposit certain percentage of its customers’ trading margins with the commodities exchanges. Leases Effective January 1, 2019, the Company adopted ASC Topic 842, Lease (“ASC 842”) using the modified retrospective method and did not restate the comparable periods. The Company categorizes leases with contractual terms longer than twelve months as either operating or finance lease. However, the Company has no finance leases for any of the periods presented. Right-of-use (“ROU”) assets represent the Company’s rights to use underlying assets for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term, reduced by lease incentives received, plus any initial direct costs, using the discount rate for the lease at the commencement date. As the implicit rate in lease is not readily determinable for the Company’s operating leases, the Company generally use the incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. Impairment of long-lived assets with definite lives The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Company compares the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Company would recognize an impairment loss based on the fair value of the assets. There were no Impairment of goodwill and indefinite-lived intangible assets The Company performs a qualitative analysis that includes reviewing the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist, whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable at least annually. The excess of the purchase price over the fair value of net assets acquired is recorded on the consolidated balance sheet as goodwill. After a qualitative analysis indicates an impairment test is needed, the Company completes a two-step goodwill impairment test. The first step is to compare the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step is to compare the implied fair value of goodwill to the carrying value of a reporting unit’s goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. Estimating fair value is performed by utilizing various valuation techniques, with the primary technique being a discounted cash flow. The impairment test for other intangible assets not subject to amortization consists of a comparison of the fair value of the intangible asset with its carrying value. If the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The estimates of fair values of intangible assets not subject to amortization are determined using various discounted cash flow valuation methodologies. Significant assumptions are inherent in this process, including estimates of discount rates. Discount rate assumptions are based on an assessment of the risk inherent in the respective intangible assets. The Company performed the annual impairment tests on December 31 of each year. Based on the Company’s assessment, the Company recorded no Revenue recognition We provided precious metals spot trading, silver product sales and financial investment advisory services (“commodities brokerage services”) from 2013 to 2017. We also provide brokerage and related services outside mainland China (“Hong Kong Brokerage services”), financial information and advisory services including subscriptions services for financial data, information services and investment advisory, online P2P lending (“Financial information and advisory services”), and advertising services. We adopted ASC topic 606, Revenue from Contracts with Customers (“ASC 606”), from January 1, 2018, using the modified retrospective transition method. Because there was no change to the timing and pattern of revenue recognition, there was no material changes to the Company’s processes and internal controls and there was no adjustment to beginning retained earnings on January 1, 2018. Under ASC 606, an entity recognizes revenue as it satisfies a performance obligation when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price, including variable consideration, if any; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. We only apply the five-step model to contracts when it is probable that the entity will collect the consideration to which it is entitled in exchange for the goods or services it transfers to the customer. Commodities brokerage business During the second quarter of 2017, new commodities trading was suspended by most of precious metal exchange in China. Such suspension announcements have adversely affected companies in commodity brokerage businesses in China, including us. As a result, the Company stopped providing commodities brokerage business in 2017. During 2013 to 2017, the Company derives commission income, carrying charges and trading revenues from its commodities brokerage services. The Company acted as an agent. Commission income is recognized on a trade basis based on their customers’ trading volumes. The commission earned is fixed no matter how the client’s open positions are ultimately settled. Additionally, the Company charges carrying charges to its customers. The commissions and carrying charges are presented in net revenues in the statement of comprehensive income. Amounts are settled with the Exchange by both the Company and the customers and the exchange then settles with any counterparty. The exchange offsets the Company’s gains and losses and amounts receivable and amounts payable from the exchange are presented net on the consolidated balance sheets as the Company and the exchange settle net. Trading gains, net include brokerage fees and margins generated from derivative trades executed with customers and other counterparties and are recognized when trades are executed. Trading gains, net also include activities where the Company acts as market maker in the purchase and sale of commodities derivative instruments with customers. These transactions may be offset simultaneously with another customer or counterparty, offset with similar but not identical positions on an exchange, made from inventory, or may be aggregated with other purchases to provide liquidity intraday, for a number of days, or in some cases, particularly the commodities brokerage business, even longer periods (during which fair value may fluctuate). Therefore, trading gains, net includes activities from the Company’s operations of a proprietary commodity trades. Net trading gains are recognized on a trade-date basis and include realized gains or losses and changes in unrealized gains or losses on investments at fair value. Unrealized gains/losses on open positions are marked to market at each period end and may present trading gains and losses which comprise both realized and unrealized gains and losses, on a net basis in the statement of comprehensive income. The open transactions may lead to receivables and/or payables for open transaction which are recorded on the consolidated balance sheets. Revenue generally is recognized net of any taxes collected from customers and subsequently remitted to governmental authorities. The following table presents the totally recognized net revenue from commodities trading business, consisted of: Years ended December 31, 2018 2019 Commodities trading gain (loss) $ (9,864 ) $ — Commission income 59,824 — Carrying charges — — $ 49,960 $ — Revenue recognition Hong Kong Brokerage services The Company also derives commission from its brokerage services provided by the subsidiaries, Rifa Securities and Rifa Futures which buy or sell securities and future contracts on their customers’ behalf. The Company acts as an agent with their customers for these transactions. The commission income is recognized on a trade date basis as transactions occur. Financial information and advisory services The Company derives revenue from subscription fees from subscribers to their financial data, information services and investment advisory. The Company recognizes revenues when all of the following criteria are met: (1) a contract is identified, (2) the performance obligations in the contract are identified, (3) the transaction price is determined, (4) the transaction price is allocated to the performance obligations in the contract, and (5) performance obligation is satisfied. Upon receipt of the upfront cash payments from the subscriber, the Company will activate the subscriber’s account and provide the subscriber the access code. This will commence a certain subscription period according to the customer demand and the full payment will be deferred and recognized ratably over the subscription period. The Company recognizes revenue ratably over the life of the arrangement. Estimated refund of subscription fees is recorded as deduction of revenue and deferred revenue. The Company also derives revenue from providing services as information intermediary in online P2P lending business. We procure borrowing and lending information from independent third parties, and our professional team evaluates and selects the information provided by third parties, from the perspective of risks. Eventually we display the selected information on the platform of Yinglibao, which is our online consumer finance marketplace. We charge borrowers interests on fixed rates for facilitating loan transactions, and the revenues are recognized upon completion of the services. Advertising revenue The Company derives its advertising fees from advertising sales on their website for a fixed period of time, generally less than one year. The Company acts as a principal and revenues from advertising arrangements are recognized ratably over the period the advertising is displayed. Business taxes and value added taxes Starting from January 1, 2012, the PRC Ministry of Finance and the State Administration of Taxation launched a Business Tax to value added tax (“VAT”) Transformation Pilot Program (the “Pilot Program”), for certain industries in Shanghai. On September 1, 2012, the PRC Ministry of Finance and the State Administration of Taxation extended the Pilot Program to certain industries in other eight regions, including Beijing and Shenzhen. With the adoption of Pilot Program, our advertising-related revenues and certain subscription revenues were subject to VAT tax at a rate of 6%. Our advertising- related revenues, certain subscription revenues and certain commodities brokerage revenues were recognized after deducting VAT and other related surcharges. Revenue is recorded net of business taxes when incurred. The Company is subject to business taxes of 3%-5% on taxable services provided to its customers. During the years ended December 31, 2017, 2018, and 2019 business taxes and related surcharges totaled $262,117, $349,270 and $310,257, respectively. The Company’s certain PRC subsidiaries, VIEs and VIEs’ subsidiaries are subject to VAT at a rate of 17% before May 1, 2018, 16% between May 1, 2018 and April 1, 2019, and 13% after April 1, 2019 on subscription-based revenue. VAT payable on subscription-based revenue is computed net of VAT paid on purchases. In respect of subscription-based revenue, however, if the net amount of VAT payable exceeds 3% of subscription-based revenue, the excess portion of value added tax can be refunded immediately. The Company therefore is subject to an effective net VAT burden of 3% from subscription-based revenue and records VAT on a net basis. Net amount of value added tax is recorded either in the line item of other current liabilities or prepaid expenses and other current assets on the face of consolidated balance sheet. Subscription-based revenue includes the benefit of the refund of value added taxes on sale of the downloadable software received from the Chinese tax authorities as part of the PRC government policy of encouraging software development in the PRC. In 2017, 2018 and 2019, the Company recognized $348,165, $189,335 and $96,709, respectively, in VAT refunds. Government subsidies The Company records government subsidies when granted by local government authority and are not subject to future return. The government subsidies include research & development subsidy, business tax refund, innovation fund and high-tech company subsidy. When the grant relates to an expense item, it is recognized as income over the periods necessary to match the grant on a systematic basis to the costs that it is intended to compensate. Deferred revenue Payments received in advance of for our financial information and advisory service, advertising service are recorded as deferred revenue until earned and when the relevant revenue recognition requirements have been met. Equity investment without readily determinable fair value (previously known as cost method investment) Equity investments without readily determinable fair value are accounted for under the measurement alternative method of accounting. These investments are measured at cost, less any impairment, plus or minus any changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. No dividends were paid Equity method investment Under the equity method, the Company initially records its investment at cost. The Company subsequently adjusts the carrying amount of the investment to recognize the Company’s proportionate share of each equity investee’s net income or loss. The Company will discontinue applying equity method if an investment (and additional financial supports to the investee, if any) has been reduced to zero. When the equity-method investment in ordinary shares is reduced to zero and further investments are made that have a higher liquidation preference than ordinary shares, the Company would recognize the loss based on its percentage of the investment with the same liquidation preference, and the loss would be applied to those investments of a lower liquidation preference first before being further applied to the investments of a higher liquidation preference. An impairment loss on the equity method investments is recognized in the consolidated statements of comprehensive income when the decline in value is determined to be other than-temporary. Also, noncontrolling interests of the Company are reported as a component of equity, separate from the parent company’s equity. Results of operations attributable to the non-controlling interest are included in the Company’s consolidated statements of comprehensive loss. Foreign currency translation The functional and reporting currency of the Company is the United States dollar (“U.S. dollar”). The financial records of the Company’s subsidiaries, VIEs and VIEs’ subsidiaries located in the PRC, Hong Kong and British Virgin Islands are maintained in their local currencies, the Renminbi (“RMB”), Hong Kong Dollars (“HK$”), and U.S. Dollars (“US$”), respectively, which are also the functional currencies of these entities. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the statements of operations. The Company’s entities with functional currency of RMB and HK$ translate their operating results and financial position into the US$, the Company’s reporting currency. Assets and liabilities are translated using the exchange rates in effect on the balance sheet date. Revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are report as cumulative translation adjustments and are shown as a separate component of other comprehensive income. Translations of amounts from RMB and HK$ into U.S. dollars were made at the following exchange rates for the respective dates and periods: At December 31, 2017 2018 2019 Consolidated balance sheets: RMB to $1.00 6.5342 6.8632 6.9762 HKD to $1.00 7.8170 7.8329 7.7877 Consolidated statements of operations and comprehensive income: RMB to $1.00 6.7518 6.6174 6.8985 HKD to $1.00 7.7930 7.8380 7.8346 Foreign currency risk The RMB is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of Renminbi into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. Cash and cash equivalents of the Company included aggregate amounts of $15,237,326, $4,271,342 and $1,241,702 at December 31, 2017, 2018 and 2019 which were denominated in RMB. Product development expenses Costs of product development, including investment in data capability, are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized. The Company essentially completed its development concurrently with the establishment of technological feasibility, and, accordingly, no costs have been capitalized. Advertising costs The Company expenses advertising costs as incurred. Total advertising expenses were $1,014,481, $540,574 and $87,629 for the years ended December 31, 2017, 2018 and 2019, respectively, and have been included as part of sales and marketing expenses in the accompanying consolidated statements of operations. Commissions paid Commissions paid are the commission of our Hong Kong brokerage business and the commissions paid to the sales agents of our commodities brokerage business. Total commissions paid were $13,976,505, $11,110,741 and $7,836,793 for the years ended December 31, 2017, 2018 and 2019. Income taxes The Company accounts for income taxes using the liability method whereby deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable values. In evaluating the ability to recover its deferred income tax assets, the Company considers all available positive and negative evidence, including its operating results, ongoing tax planning and forecasts of future taxable income on a jurisdiction-by-jurisdiction basis. In the event the Company determines that it would be able to realize its deferred income tax assets in the future in excess of their net recorded amount, it would make an adjustment to the valuation allowance that would reduce the provision for income taxes. Conversely, in the event that all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to earnings in the period such determination is made. Tax benefits related to uncertain tax positions are recognized when it is more likely than not that a tax position will be sustained during an audit. Interest and penalties related to unrecognized tax benefits are included within the provision for income tax. Comprehensive loss Comprehensive loss includes net loss, unrealized gain (loss) on short-term investments and foreign currency translation adjustments. Beginning in January 1, 2012, the Company presents the components of net income, the components of other comprehensive income and total comprehensive income a single continuous consolidated statement of comprehensive income. Share-based compensation Share-based compensation with employees is measured based on the grant date fair value of the equity instrument. The Company recognizes the compensation costs net of an estimated forfeiture rate using the straight-line method for performance based awards or graded vesting attribution method for service based awards, over the requisite service period of the award, which is generally the vesting period of the award. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of share-based compensation expense to be recognized in future periods. Share awards issued to nonemployees are measured at fair value at the earlier of the commitment date or the date the services is completed and recognized over the period the service is provided or as goods is received. Net loss per share Basic net loss per share attributable to China Finance Online Co. Limited is computed by dividing net loss attributable to China Finance Online Co. Limited by the weighted average number of ordinary shares outstanding during the period. Diluted net income per ordinary share attributable to China Finance Online Co. Limited reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. The dilutive effect of the stock options and nonvested shares is computed using treasury stock method. Concentrations of credit risk Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash and cash equivalents, restricted cash, short-term investments, loan receivable and accounts receivable. The Company places its cash and cash equivalents, restricted cash, short-term investments in major financial institutions located in PRC and Hong Kong, which management considers to be of high credit quality. The Company conducts ongoing credit evaluations of its customers and generally does not require collateral or other security from its customers except for the accounts receivable-margin clients which represents the margin loan to customers for securities purchase. The accounts receivable-margin client was collateralized by the securities the margin client purchased. The Company manages its credit risk by collecting up-front fee from its customers and billing at regular intervals during the contract period. The

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Accounts Receivable	3 . December 31, 2018 2019 Accounts receivable-margin clients $ 17,900,557 $ 14,605,104 Less: Allowance for doubtful accounts (149,523 ) (1,153,521 ) Accounts receivable- margin clients, net $ 17,751,034 $ 13,451,583 Accounts receivable-others 7,105,317 12,616,609 Less: Allowance for doubtful accounts (3,407 ) (234,439 ) Accounts receivable-others, net $ 7,101,910 $ 12,382,170 Accounts receivable- margin clients represent the receivables derived in the Hong Kong brokerage service in Rifa Securities, which is pledged by the customer’s purchased securities. Accounts receivable-others represent the receivables derived in Hong Kong brokerage service and other ordinary business without any collateral or other security from its customers.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	4 . Prepaid expenses and other current assets consist of the following: December 31, 2018 2019 Prepayment of advertising fees $ 18,944 $ 10,105 Advances to suppliers 1,125,187 1,018,164 VAT refund receivable 308,532 222,847 Interest receivable 44,726 24,908 Prepayment of office rental 81,239 47,845 Advances to employees 418,271 397,885 Advances to consulting service fees 17,773 153,444 Consideration receivable 77,300 77,749 Other current assets 317,323 459,994 $ 2,409,295 $ 2,412,941

Short-Term Investments

Short-Term Investments	12 Months Ended
	Dec. 31, 2019
Short Term Investments [Abstract]
Short-Term Investments	5 . As of December 31, 2018 and 2019, the Company’s short-term investment consisted of available-for-sale securities with maturities of one year or less. The Company measured the available-for-sale securities at the fair value shown by the financial institution which the Company believes a Level 2 valuation. The following table presents changes in level 2 available-for-sale securities measured on a recurring basis for the twelve-month period ended December 31, 2018 and 2019, respectively: December 31, 2018 2019 Beginning balance $ 532,912 $ — Purchases 8,995,273 10,091,454 Redemption (9,437,363 ) (8,956,178 ) Realized gain(loss) (72,755 ) 11,743 Exchange difference (18,067 ) (263 ) Ending balance $ — $ 1,146,756 As of the year ended December 31, 2019, the unrealized gain related to the ending balance of short-term investments available-for-sale was $1,000. The following table provides additional information on the realized gains of the sale of available-for-sale short-term investments as of December 31, 2018 and 2019, respectively. For purposes of determining gross realized gains, the cost of short-term investments sold is based on specific identification. Year ended December 31, 2019 Exchange Proceeds Costs Gains difference Available-for-sale short-term investments $ (8,956,178 ) $ 10,091,454 $ 11,743 $ (263 ) Total $ (8,956,178 ) $ 10,091,454 $ 11,743 $ (263 ) Year ended December 31, 2018 Exchange Proceeds Costs Gains difference Available-for-sale short-term investments $ (9,437,363 ) $ 8,995,273 $ (72,755 ) $ (18,067 ) Total $ (9,437,363 ) $ 8,995,273 $ (72,755 ) $ (18,067 ) The fair value of available-for-sale short-term investments as disclosed is further discussed in Note 6.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement	6 . Fair value disclosed or measured on a recurring basis The fair values of the Company’s available-for-sale short-term investments as measured as disclosed are determined based on the discounted cash flow method. The following table summarizes the Company’s financial assets measured or disclosed at fair value on a recurring basis. Fair value disclosure or measurement at December 31, 2019 using Fair value at December 31, 2019 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Fair value disclosure Cash and cash equivalents: $ 9,599,824 $ 9,599,824 Fair value measurement Short-term investments: Available-for-sale short-term investments $ 1,146,756 $ 1,146,756 Total assets measured at fair value $ 1,146,756 $ 1,146,756 Fair value disclosure or measurement at December 31, 2018 using Fair value at December 31, 2018 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Fair value disclosure Cash and cash equivalents: Cash and cash equivalents $ 12,493,135 $ 12,493,135 Fair value measurement Short-term investments: Available-for-sale short-term investments — — Total assets measured at fair value — — The Company’s available-for-sale short-term investments as of December 31, 2019 mainly consists of wealth management products purchased from banks. The Company values these wealth management products using alternative pricing sources and models utilizing market observable inputs, and accordingly the Company classifies the valuation techniques that use these inputs as Level 2. The following table presents changes of available-for-sale short-term investments measured on a recurring basis for the twelve-month period ended December 31, 2018 and 2019, respectively: December 31, 2018 2019 Beginning balance $ 532,912 $ — Purchases 8,995,273 10,091,454 Redemption (9,437,363 ) (8,956,178 ) Realized gain (loss) (72,755 ) 11,743 Exchange difference (18,067 ) (263 ) Ending balance $ — $ 1,146,756 Fair value disclosed or measured on a nonrecurring basis The Company's goodwill and intangible assets are primarily acquired through business acquisitions. The fair value for goodwill and acquired intangibles assets measured at fair value on a nonrecurring basis was categorized as Level 3 due to the use of significant unobservable inputs in the valuation. The Company used the discounted cash flow method under the income approach to measure the fair value of goodwill and acquired intangible assets. Significant unobservable inputs that were used included expected revenues, net income related to the assets, expected cash flows, and the expected life of the assets. The Company recognized impairment loss related to intangible assets of $291,817, nil and nil for the years ended December 31, 2017, 2018 and 2019, respectively. There was no impairment loss related to goodwill for the years ended December 31, 2017, 2018 and 2019. Fair value at December 31, 2018 Total losses in the year ended December 31, 2018 Fair value at December 31, 2019 Total losses in the year ended December 31, 2019 Non-Recurring Goodwill 107,791 — 108,416 — Intangible Assets 85,154 — 74,477 — The goodwill impairment test is further discussed in Note 2.

Equity Investments Without Read

Equity Investments Without Readily Determinable Fair Value	12 Months Ended
	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Equity Investments Without Readily Determinable Fair Value	7 . As of December 31, 2018, and 2019, we had investments in four private companies without a readily determinable fair value. We owned not more than 10% of the total investment in each such company. Under ASU 2016-01, we elected to measure these equity investments using the measurement alternative, which requires that these investments are measured at cost, less any impairment, plus or minus any changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. For the years ended December 31, 2018 and 2019, these investments were not impaired and there were no observable price changes. As a result, the balance shown below as of December 31, 2018 and 2019 represents the cost of the investments adjusted for exchange rate differences. As of December 31, 2018 and 2019, our equity investments without readily determinable fair value were as follows: December 31, 2018 2019 Beginning balance $ 1,714,058 $ 1,631,892 Acquisitions — — Observable price changes — — Exchange difference (82,166 ) (26,433 ) Ending balance $ 1,631,892 $ 1,605,459 There was no impairment of the Company’s cost method investment for the year ended December 31, 2018 and 2019.

Equity Method Investment

Equity Method Investment	12 Months Ended
	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Equity Method Investment	8 . In June 2015, the Company paid $307,996 to acquire 20% of an investee’s the equity interest. In December 2015, the Company entered a contractual arrangement with a third party to transfer its 15% equity interests in Aishang (Beijing) Fortune Technology Co., Ltd. (“CFO Aishang”), which was previously owned 55% equity interests by the Company. The remaining 40% equity interests in CFO Aishang was recorded as equity method investment at the disposal date, as the Company lost control over CFO Aishang. The fair value of the retained noncontrolling investment of $985,586 was recognized in the consolidated balance sheets, based on the valuation performed by a third party. The Company recognized a gain from equity method investment of $470 and $391 in the consolidated statement of comprehensive income for the year ended December 31, 2018 and 2019, respectively. The carrying balance of equity method investment was $778,721 and $ 766,583 as of December 31, 2018 and 2019, respectively. The following table presents changes in equity method investment for the twelve-month period ended December 31, 2018 and 2019, respectively: December 31, 2018 2019 Beginning balance $ 817,223 $ 778,721 Equity method investment income 470 391 Consideration Received on Disposal — — Exchange difference (38,972 ) (12,529 ) Ending balance $ 778,721 $ 766,583

Deconsolidation

Deconsolidation	12 Months Ended
	Dec. 31, 2019
Deconsolidation Disclosure [Abstract]
DECONSOLIDATION	9 . In the first quarter of 2017, the Company fully disposed Shanghai Stockstar Asset Management Co., Ltd. ("Stockstar Asset Management") which was previously owned 100% equity interests by the Company. Pursuant to the arrangement, the total cash consideration was $1,451,723 and all the consideration was received in 2017. The Company recorded a gain on the interest sold and the retained noncontrolling investment of $1,080 in the consolidated statement of operations and comprehensive loss for the year ended December 31, 2017. Furthermore, the Company deregistered four affiliates, which were all previously owned 59.83% equity interest by the Company. The Company recorded a loss on the interest sold and the retained noncontrolling investment of $738,397 in the consolidated statement of operations and comprehensive loss for the year ended December 31, 2017. In the second quarter of 2017, the Company fully disposed Zhengjin (Qingdao) Wisdom Trading Co., Ltd. ("CFO Zhengjin Qingdao") which was previously owned 59.83% equity interests by the Company. Pursuant to the arrangement, the total cash consideration was $159,907 and all the consideration was received in 2017. The Company recorded a loss on the interest sold and the retained noncontrolling investment of $1,259,044 in the consolidated statement of operations and comprehensive loss for the year ended December 31, 2017. In 2018, the Company deregistered seven affiliates, of which five were previously owned 59.83% equity interest by the Company and two were fully owned by the Company. The Company recorded a loss on the interest sold and the retained noncontrolling investment of $1,186,852 in the consolidated statement of operations and comprehensive loss for the year ended December 31, 2018. In 2019, the Company deregistered two affiliates, of which one was previously owned 59.83% equity interest by the Company and one was fully owned by the Company. The Company recorded a loss on the interest sold and the retained noncontrolling investment of $299,645 in the consolidated statement of operations and comprehensive loss for the year ended December 31, 2019. The gain on the interest sold and the retained noncontrolling investment was calculated as the difference between the aggregate of (i) the fair value of the consideration transferred, (ii) the fair value of any retained noncontrolling investment in the former affiliated company on the date the affiliated company was deconsolidated, if any, (iii) the carrying amount of any noncontrolling interest in the former subsidiary (including any accumulated other comprehensive income or loss attributable to the noncontrolling interests) on the date the subsidiary is deconsolidated, and (iv) the carrying amount of any noncontrolling interest in the former affiliated company on the date the affiliated company was deconsolidated, if applicable; and the carrying amount of the former affiliated company’s net assets. None of the disposals described above was presented as discontinued operation, because none of the disposals meets the criteria of discontinued operation. To meet the criteria of discontinued operation, the disposal group must be qualified as a component of an entity. A component of an entity may be a reportable segment or an operating segment, a reporting unit, a subsidiary, or an asset group. The entities disposed by the company don’t constitute any reportable segment or operating segments, so none of the disposals presented as discontinued operations.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Property and Equipment, Net	1 0 . Property and equipment, net consisted of: December 31, 2018 2019 Technology infrastructure $ 10,730,756 $ 9,857,786 Computer equipment 1,886,170 1,778,945 Furniture, fixtures and equipment 3,383,846 4,206,010 Motor vehicle 1,033,864 1,017,117 Leasehold improvements 4,219,050 3,577,145 21,253,686 20,437,003 Less: accumulated depreciation (16,794,352 ) (16,165,270 ) $ 4,459,334 $ 4,271,733 Depreciation expense for the years ended December 31, 2017, 2018 and 2019 were $2,093,993, $1,686,588 and $1,203,235, respectively.

Acquired Intangible Assets, Net

Acquired Intangible Assets, Net	12 Months Ended
	Dec. 31, 2019
Intangible Assets Net Excluding Goodwill Abstract
Acquired Intangible Assets, Net	1 1 . ACQUIRED INTANGIBLE ASSETS, NET Intangible assets as of December 31, 2018 and 2019 were as follows: December, 31 2018 2019 Gross carrying amount Accumulated amortization Impairment Net carrying amount Gross carrying amount Accumulated amortization Impairment Net carrying amount PIBA license 111,070 (25,916 ) — 85,154 111,715 (37,238 ) — 74,477 111,070 (25,916 ) — 85,154 111,715 (37,238 ) — 74,477 Amortization expenses for the years ended December 31, 2017, 2018 and 2019 were $11,165, $11,112 and $11,119, respectively. Future amortization expenses of acquired intangible assets with determinable lives are $11,172, $11,172, $11,172, $11,172 and $29,789 for 2020, 2021, 2022, 2023, 2024 and thereafter, respectively. During 2017, the Company recorded an impairment loss on its intangible assets in the amount of $291,817 associated with the acquired commodities trading right. The Company recorded no impairment loss on its intangible assets associated with the acquired commodities trading right in 2018 and 2019.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	1 2 . Changes in goodwill for the years ended December 31, 2017, 2018 and 2019 were as follows: Commodities brokerage Investment advisory services Institution subscription services Hong Kong brokerage services Total Balance as of December 31, 2017 $ — $ — $ — $ 108,010 $ 108,010 Exchange difference — — — (219 ) (219 ) Balance as of December 31, 2018 $ — $ — $ — $ 107,791 $ 107,791 Exchange difference — — — 625 625 Balance as of December 31, 2019 $ — $ — $ — $ 108,416 $ 108,416 The goodwill related to the acquisition of Rifa Wealth Management was allocated to Hong Kong brokerage services reporting unit, which was acquired on September 13, 2016. The Company performed the annual impairment tests on December 31 of each year. Based on the Company’s assessment, the Company recorded no goodwill impairment losses during the years ended December 31, 2018 and 2019.

Accounts Payable

Accounts Payable	12 Months Ended
	Dec. 31, 2019
Accounts Payable Current [Abstract]
Accounts Payable	1 3 . Accounts payable consist of: December 31, 2018 2019 Amount due to customers of Hong Kong brokerage business $ 2,748,745 $ 6,552,742 Amount due to sales agents 114,408 112,555 Others 84,053 75,884 $ 2,947,206 $ 6,741,181

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2019
Accrued Expenses And Other Current Liabilities [Abstract]
Accrued Expenses and Other Current Liabilities	1 4 . Accrued expenses and other current liabilities consist of: December 31, 2018 2019 Accrued bonus $ 1,889,145 $ 1,063,891 Accrued professional service fees 450,015 558,752 Withholding individual income tax-option exercise 36,696 215,945 Value added taxes and other taxes payable (20,502 ) 375,548 Accrued raw data cost 470,664 651,633 Accrued bandwidth cost 180,151 (24,970 ) Accrued welfare benefits 69,306 64,167 Deposit payable (i) 1,384,194 — Funds received from third party investors (ii) 4,468,798 9,415,798 Accrued sales service fees 272,849 81,623 Others 2,526,919 5,017,526 $ 11,728,235 $ 17,419,913 In November 2018, China Finance Online entered into a Share Transfer Agreement with West Platinum Limited (the “Buyer”) to sell 1,552,000 shares (“Sale Shares”), or 20% of Rifa Financial Holdings Limited (“Rifa Financial”) for HK$73.8 million (or approximately US$9.4 million) (the “Purchase Price”). (i) Pursuant to the Share Transfer Agreement, the Buyer provided a refundable deposit to the Company of $1.4 million. The refundable deposit was not considered part of the Purchase Price. The deposit was refundable to the Buyer upon the Share Transfer approval by Securities and Futures Commission of Hong Kong (“SFC”), which was one of the prerequisites for the transaction. The Share Transfer was approved during 2018 and the Company refunded the deposit to the Buyer during 2019. (ii) Pursuant to the Share Transfer Agreement, the completion of the equity transfer is subject to conditions, including but not limited to obtaining all necessary approvals and consents of Securities and Futures Commission of Hong Kong. As of December 31, 2019, both the register of shareholders and business registration had not been changed, therefore the equity transfer has not been completed and recorded in noncontrolling interests. In addition, the Share Transfer Agreement was subject to Rifa Financial being listed on the Main Board of the Stock Exchange of Hong Kong Limited (“HKEX”) as of December 31, 2019. If Rifa Financial is not listed on the HKEX, the Company would refund all amounts received under the Share Transfer Agreement without interest to the Buyer within two weeks from December 31, 2019. Due to the failure of Rifa Financial listing on HKEX through December 31, 2019, the shares were not transferred to the Buyer. The Company is obligated to return the Purchase Price (funds received) to the Buyer.

Stock Options and Nonvested Sha

Stock Options and Nonvested Shares	12 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Options and Nonvested Shares	1 5 . As of December 31, 2019, the Company and its subsidiaries have five share-based compensation plans, which are described below. The compensation expenses that had been charged against income for those plans were $3,068,213, $2,240,512 and $1,113,828 for 2017, 2018, and 2019, respectively. 2004 Stock incentive plan In January 2004, the Company adopted the 2004 stock incentive plan (the “2004 Plan”) which allows the Company to offer a variety of incentive awards to employees, directors, officers and other eligible persons in the Company, and consultants and advisors outside the Company. We amended the 2004 Plan in September 2004, August 2006, June 2009 and June 2010. The total number of ordinary shares authorized under the 2004 Plan was 30,688,488, and all of these authorized ordinary shares were granted to directors, officers, employees and non-employees as of December 31, 2014. Summary of stock options to employees and non-employees A summary of the stock option activity is as follows: 2017 2018 2019 Weighted Weighted Weighted Number average Number average Number average of options exercise price of options exercise price of options exercise price Outstanding at beginning of year 16,180,260 $ 0.53 13,677,960 $ 0.46 13,202,200 $ 0.43 Exercised (107,200 ) 0.25 (2,400 ) 0.25 (20,000 ) 0.25 Forfeited (2,395,100 ) 0.98 (473,360 ) 1.16 (22,000 ) 1.43 Outstanding at end of year 13,677,960 $ 0.46 13,202,200 $ 0.43 13,160,200 $ 0.43 Shares exercisable at end of year 13,677,960 $ 0.46 13,202,200 $ 0.43 13,160,200 $ 0.43 The following table summarizes information with respect to stock options outstanding at December 31, 2019: Options outstanding Option exercisable Stock option with exercise price of: Number outstanding Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value as of December 31, 2019 Number exercisable Weighted average exercise price Aggregate intrinsic value as of December 31, 2019 $ 1.43 2,012,500 2,012,500 $ 0.25 11,147,700 11,147,700 13,160,200 3.01 $ 0.43 $ — 13,160,200 $ 0.43 $ — Summary of stock options to employees and non-employees The total intrinsic value of options exercised during the years ended December 31, 2017, 2018 and 2019 was $30,659, nil, and nil, respectively. The total fair value of shares vested during the year ended December 31, 2017, 2018 and 2019 were nil, nil and nil, respectively. Restricted shares to employees On January 2, 2014, the Company granted remaining 1,100,240 ordinary shares, which were in the form of restricted shares, to employees under 2004 Plan. The vesting of the restricted shares is subject to rendering service to the Company for three years. Based on the Company’s requisite service period stated in the 2004 Plan, all the granted restricted shares were vested as of January 2, 2017, of which 330,085 shares were issued to employees as of December 31, 2018. The fair value of restricted shares is $1.106, which equal to the fair market value of the Company’s shares at the date of grant. As of December 31, 2016, all the share-based compensation expenses relating to the restricted shares under the 2004 Plan were recognized. 2007 Equity incentive plan In July 2007, the Company adopted the 2007 Equity incentive plan (the “2007 Plan”) and granted nonvested shares covering 10,558,493 ordinary shares of the Company to the employees who were eligible for the 2007 Plan. The vesting of the nonvested shares are subject to achieving certain operating performance targets and rendering service to the Company for the requisite service period stated in the 2007 Plan. Based on the Company’s operating performance, 8,658,048 shares were vested as of December 31, 2010. In June 2014, the Annual General Meeting approved the amendment to the 2007 Plan and the Restricted Stock Issuance and Allocation Agreement of 2007 Plan. Pursuant to such agreement, together with the remaining 1,900,445 ordinary shares which were not vested due to the operating performance targets under 2007 Plan not being achieved, 3,000,000 ordinary shares were collectively granted to the employees who were eligible. The fair value of a nonvested share on the grant date was measured at the quoted market price of the Company’s equity shares. The nonvested shares shall become activated and vest during the period commencing from the grant date and ending on December 31, 2016 based on the Company’s achievement of the performance targets. As of December 31, 2014, there was no nonvested shares become activated and vested due to the performance targets were not achieved, and nil share-based compensation expenses relating to the nonvested shares was recognized. As of December 31, 2015, the granted shares were activated and vested based on the Company’s achievement of performance target. The fair value of granted share is $0.82, which equal to the fair market value of the Company’s shares at the date of grant. The Company recognized share-based compensation expenses of nil, nil and nil for the years ended December 31, 2017, 2018 and 2019, respectively. As of December 31, 2016, all the share-based compensation expenses relating to the restricted shares under the 2007 Plan were recognized. 2010 Equity incentive plan of Rifa Financial Holdings In November 2010, Rifa Financial Holdings, a subsidiary of the Company, implemented the “2010 equity incentive plan” (the “2010 Plan”) under which the Company transferred 1,500 nonvested shares which representing 15% of total Rifa Financial Holdings’ equity interest to its management group as a share incentive. If the grantees left the Company before the third anniversary of the grant date when the nonvested shares become vested, they should transfer the shares to the Company at no consideration. Therefore, the total share based compensation expenses are recognized ratably over the three years of vesting period. In addition, as the grantees are entitled to all the shareholder’s rights, including the dividend rights since the date of grant, the 15% share of the earnings of Rifa Financial Holdings is recognized as noncontrolling interest on the Company’s consolidated financial statements since November 1, 2010, the date of grant. 2014 Stock incentive plan In July 2014, the Company adopted the 2014 stock incentive plan (the “2014 Plan”) which allows the Company to offer a variety of incentive awards to employees, directors, officers and other eligible persons in the Company, and consultants and advisors outside the Company. The maximum number of ordinary Shares that may be delivered pursuant to awards granted to eligible persons under 2014 Plan during calendar year 2014 is equal to 5,000,000 ordinary shares; provided, that, as of January 1 of each calendar year thereafter during the term of 2014 plan, the maximum number of ordinary shares that may be delivered pursuant to awards granted to eligible persons under 2014 Plan shall be increased by 3,000,000 Ordinary Shares. As of result, the total number of ordinary shares authorized under the 2014 Plan was 20,000,000 as of December 31, 2019. As of December 31, 2019, 1,039,900 shares were available for future grant of awards. Options to employees During 2017 and 2018, the Company granted totaling 2,490,000 and 280,000 stock options to employees at an exercise price that equaled the trading price of the stock upon the stock option grant, respectively. These options vest over 3 years. There was no grant in 2019. The fair value of employee options was estimated on the basis of the Black-Scholes Option Price model with the following assumptions: Years ended December 31, 2017 2018 2019 Weighted average risk free rate of return 1.88% - 2.13% 2.52% — Weighted average expected option life 7.36 – 7.38 years 7.34 years — Expected volatility rate 73.31% - 74.76% 76.44% — Dividend yield — — — (1) Expected volatility The volatility of the underlying ordinary shares during the life of the options was estimated based on the historical stock price volatility of the Company over the past years. (2) Risk-free interest rate Risk-free interest rate was estimated based on the yield to maturity of treasury bonds of the United States with a maturity period close to the expected term of the options. (3) Expected option life The expected life was estimated based on historical information. (4) Dividend yield The dividend yield was estimated by the Company based on its expected dividend policy over the expected term of the options. (5) Exercise price Options are generally granted at an exercise price equal to the fair market value of the Company’s shares at the date of grant. Options to non-employees During 2014 and 2017, the Company granted 30,000 and 200,000 options under the 2014 Plan to a consultant. The fair value of non-employee options is estimated using the Black-Scholes Option Pricing model as such method provided a more accurate estimate of the fair value of services provided by the consultants and strategic advisers. The fair value of the stock options is remeasured as of the end of each reporting period until the services of these non-employees are complete under the service contracts. These options vest over 3 years. There were no grants in 2019. Summary of stock options to employees and non-employees A summary of the stock option activity is as follows: 2017 2018 2019 Weighted Weighted Weighted Number average Number average Number average of options exercise price of options exercise price of options exercise price Outstanding at beginning of year 1,105,000 $ 0.87 3,755,000 $ 0.49 3,675,000 $ 0.48 Granted 2,690,000 0.34 280,000 0.43 — — Exercised — — — — — — Forfeited (40,000 ) 0.89 (360,000 ) 0.62 (200,000 ) 0.72 Outstanding at end of year 3,755,000 $ 0.49 3,675,000 $ 0.48 3,475,000 $ 0.46 Shares exercisable at end of year 1,045,800 $ 0.88 1,877,000 $ 0.59 2,529,000 $ 0.49 The following table summarizes information with respect to stock options outstanding at December 31, 2019: Options outstanding Option exercisable Stock option with exercise price of: Number outstanding Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value as of December 31, 2019 Number exercisable Weighted average exercise price Aggregate intrinsic value as of December 31, 2019 $ 0.878 585,000 585,000 $ 0.920 40,000 40,000 $ 1.032 — — $ 1.038 — — $ 0.870 120,000 120,000 $ 0.302 880,000 668,800 $ 0.348 1,640,000 1,115,200 $ 0.434 210,000 — 3,475,000 5.38 $ 0.46 — 2,529,000 $ 0.49 — Summary of stock options to employees and non-employees The weighted-average grant-date fair value of options granted during the years 2017 and 2018 was $0.24 and $0.32, respectively. The total intrinsic value of options exercised were nil during the years ended December 31, 2017, 2018 and 2019. The total fair value of shares vested during the year ended December 31, 2017, 2018 and 2019 was $174,360, $646,612 and $445,888, respectively. There were no grants in 2019. The Company recognized share-based compensation expenses of $115,428, $360,884 and $177,414 for stock option under 2014 Plan in the years ended December 31, 2017, 2018 and 2019, respectively. As of December 31, 2019, there were $57,187 unrecognized share-based compensation expenses relating to the stock options under 2014 Plan, which are expected to be recognized over a weighted average period of 0.9 year. Restricted shares to employees During 2014, the Company granted 1,780,000 restricted shares under the 2014 Plan to directors and employees. The vesting of the restricted shares is subject to rendering service to the Company for two years. Based on the Company’s requisite service period stated in the 2014 Plan, all the 1,780,000 shares were vested, of which 750,885 shares were issued as of December 31, 2019. The fair value of restricted shares was $0.878, which was the fair market value of the Company’s shares at the date of grant. On November 16, 2015, the Company granted 3,800,000 restricted shares under the 2014 Plan to selected directors and employees. Subject to the agreement, the awards became activated and vest during the period commencing on the grant date and ending on November 16, 2018 (the “Vesting Term”), provided that the participant has achieved all the performance targets. The fair value of restricted shares was $0.742, which was the fair market value of the Company’s shares at the date of grant. As of December 31, 2019, 2,414,500 granted shares were activated, all of which were vested based on the participant’s achievement of performance target and the Company’s requisite service period stated. Furthermore, 773,685 shares were issued as of December 31, 2019. On November 8, 2016, the Company granted 200,000 restricted shares under the 2014 Plan to a selected employee. The vesting of the restricted shares is subject to rendering service to the Company for two years. As of December 31, 2019, all of 200,000 shares were vested, and no share was issued as of December 31, 2019. On July 12, 2017, the Company granted 150,000 restricted shares under the 2014 Plan to a selected employee. The vesting of the restricted shares is subject to rendering service to the Company for 2.5 years. As of December 31, 2019, 138,000 shares were vested, and 77,975 shares were issued as of December 31, 2019. On December 28, 2018, the Company granted 1,900,000 restricted shares under the 2014 Plan to a selected employee. The vesting of the restricted shares is subject to rendering service to the Company for 3 years. As of December 31, 2019, 684,000 shares were vested, and no share was issued as of December 31, 2019. On December 3, 2019, the Company granted 8,000,000 restricted shares under the 2014 Plan to selected employees. The vesting of the restricted shares is subject to rendering service to the Company for 2 years. As of December 31, 2019, no share was vested, and no share was issued as of December 31, 2019. The Company recognized share-based compensation expenses of $682,424, $497,531 and $239,590 relating to the restricted shares granted to employees in 2017, 2018 and 2019, respectively. As of December 31, 2019, there were $926,212 unrecognized share-based compensation expenses relating to the restricted shares granted to employees, which are expected to be recognized over a weighted average period of 1.93 years. Restricted shares to non-employees During 2014, the Company granted 1,150,000 restricted shares under the 2014 Plan to consultants. The fair value of the restricted shares was remeasured as of the end of each reporting period until the services of these non-employees are completed under the service contracts. These restricted shares vest over two years except 50,000 restricted shares granted to one consultant which vest over three years. The Company recognized share-based compensation expenses of $(15,657), nil and nil relating to the restricted shares granted to non-employees in 2017, 2018 and 2019. As of December 31, 2019, there were no unrecognized share-based compensation expenses relating to the restricted shares granted to non-employees. Restricted shares of Shanghai Shangtong Co., Ltd. (“CFO Shangtong”), Fortune Zhengjin and CFO Tahoe On July 1, 2014, CFO Shangtong and Fortune Zhengjin, two affiliates of the Company, entered into a series of contractual arrangement with selected employees of the Company. Pursuant to the agreement, these employees were granted 10% restricted shares of CFO Shangtong and Fortune Zhengjin. The vesting of the restricted shares is subject to rendering service to the Company for five years. The fair value of restricted shares was $28,965 and $2,464,455, which equal to the fair value of the CFO Shangtong and Fortune Zhengjin’s 10% net assets at the effective date of the agreement, respectively. On July 1, 2015, Fortune Zhengjin entered into an additional arrangement with selected employees of the Company. Pursuant to the agreement, these employees were granted 8% restricted shares of Fortune Zhengjin. The vesting of the restricted shares is subject to rendering service to the Company for five years. The fair value of restricted shares was $4,681,533, which equal to the fair value of Fortune Zhengjin’s 8% net assets at the effective date of the agreement. CFO Tahoe also entered an arrangement with selected employees of the Company. Pursuant to the agreement, these employees were granted 1.95% restricted shares of CFO Tahoe. The fair value of restricted shares is subject to rendering service to the Company for five years. The fair value of restricted shares was $1,141,124, which equal to the fair value of CFO Tahoe’s 1.95% net assets at the effective date of the agreement. On May 31, 2016, Fortune Zhengjin entered into another arrangement with selected employees of the Company. Pursuant to the agreement, these employees were granted 5.35% restricted shares of Fortune Zhengjin. The vesting of the restricted shares is subject to rendering service to the Company for five years. The fair value of restricted shares was $2,460,213, which equal to the fair value of Fortune Zhengjin’s 5.35% net assets at the effective date of the agreement. There were $3,223, $2,056,931 and $225,864 share-based compensation expenses recorded in 2017 relating to CFO Shangtong, Fortune Zhengjin and CFO Tahoe, respectively. There were $1,769, $1,240,579 and $139,749 share-based compensation expenses recorded in 2018 relating to CFO Shangtong, Fortune Zhengjin and CFO Tahoe, respectively. There were $522, $625,978 and $70,324 share-based compensation expenses recorded in 2019 relating to CFO Shangtong, Fortune Zhengjin and CFO Tahoe, respectively. As of December 31, 2019, there were nil and $274,776 and $21,077 unrecognized share-based compensation expenses relating to CFO Shangtong, Fortune Zhengjin and CFO Tahoe, respectively, which are expected to be recognized over a weighted average period of 0.6 years.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	1 6 . Hong Kong China Finance Online, Rifa Securities, Rifa Futures, Rifa Credit, Rifa Wealth Management and other nine subsidiaries were established in Hong Kong. These companies were subject to Hong Kong profit tax at 16.5%. In addition, companies who incorporated outside of Hong Kong and carried on a trade, profession or business in Hong Kong were also subject to Hong Kong profit tax in respect of their profits arising in or derived from Hong Kong. British Virgin Islands Companies that were incorporated in the BVI are not subject to taxation in their country of incorporation. Subsidiaries incorporated in the BVI include Rifa Financial Holdings and other eleven subsidiaries. PRC The Company’s PRC entities are subject to 25% PRC Enterprise Income Tax (“EIT”) on the taxable income in accordance with the relevant PRC income tax laws, except for certain entities that enjoy preferential tax rates, which are lower than the statutory rates, as described below. Under the EIT Law and its implementing rules, an enterprise which qualifies as a “high and new technology enterprise” (“the HNTE”) is entitled to a tax rate of 15%. Under the EIT law and its implementing rules, enterprises that obtain status of “Software Enterprises” are entitled to be exempted from EIT tax for the first two profit-making years and enjoy a preferential 12.5% tax rate, which is half of the standard EIT rate of 25% for the three years thereafter. A summary of the main PRC entities that subject to tax preferential policies for the year ended December 31, 2019 is as follows: PRC entities Chinese EIT rate Qualification for preferential tax rate CFO Genius Preferential tax rate of 15% from 2018 to 2020. HNTE CFO Tibet Preferential tax rate of 9% from 2015 to 2017 and 15% thereafter Preferential tax rate for enterprises in Tibet, China Tibet Lieqian Network Technology Co., Ltd Preferential tax rate of 15% from 2018 and thereafter Preferential tax rate for enterprises in Tibet, China CFO Chongzhi and CFO Shangtong filed their EIT by adopting the “deemed-profit method”. In 2015, Zhengjin (Jiangsu) Precious Metals Co., Ltd. also adopted this method. In 2016, CFO Qingdao Zhida adopted this method. Under this method, the qualifying entities filed their income tax by calculating as 2.5% of the gross revenues. This method is subject to be reevaluated by the local tax authority in the future. The EIT Law includes a provision specifying that legal entities organized outside of the PRC will be considered residents for PRC Income tax purposes if the place of effective management or control is within the PRC. The implementation rules to the EIT Law provide that non-resident legal entities will be considered PRC residents if substantial and overall management and control over the manufacturing and business operations, personnel, accounting, properties, etc., occurs within the PRC. Despite the present uncertainties resulting from the limited PRC tax guidance on the issue, the Company does not believe that currently the legal entities organized outside of the PRC within the Company should be treated as residents for EIT law purposes. If the PRC tax authorities subsequently determine that the Company and its subsidiaries registered outside the PRC should be deemed a resident enterprise, the Company and its subsidiaries registered outside the PRC will be subject to the PRC income tax at a rate of 25%. If the Company were to be non-resident for PRC tax purpose, dividends paid to it out of profits earned after January 1, 2008 would be subject to a withholding tax. In the case of dividends paid by PRC subsidiaries the withholding tax would be 10% not considering the arrangements for the Avoidance of Double Taxation on income and Prevention of Fiscal Evasion with respect to Taxes on Income between mainland and Hong Kong. Aggregate deficits of the Company’s subsidiaries located in the PRC were approximately $46.9 million at December 31, 2019. And accordingly, no provision has been made for the Chinese dividend withholding taxes. There were no aggregate undistributed earnings of the Company’s VIEs and its VIEs’ subsidiaries located in the PRC that is available for distribution to the Company at December 31, 2019. A deferred tax liability should be recorded for taxable temporary differences attributable to the excess of financial reporting amounts over tax basis amounts, including those differences attributable to a more than 50% interest in a domestic subsidiary. However, recognition is not required in situations where the tax law provides a means by which the reported amount of that investment can be recovered tax-free and the enterprise expects that it will ultimately use that means. The Company has not recorded any such deferred tax liability attributable to the undistributed earnings of its financial interest in VIEs because it believes such excess earnings can be distributed in a manner that would not be subject to income tax. Income tax expense was as follows: December 31, 2017 2018 2019 Current $ (578,367 ) $ (169,033 ) $ (144,087 ) Deferred 253,951 116,254 (72,770 ) Total $ (324,416 ) $ (52,779 ) $ (216,857 ) The principal components of deferred income taxes were as follows: December 31, 2018 2019 Deferred tax assets: Deferred revenue $ 1,220,370 $ 1,307,149 Accrued expenses and other liabilities 246,452 73,693 Net operating loss carrying forwards 26,418,044 27,126,541 27,884,866 28,507,383 Less: valuation allowance (26,412,260 ) (27,126,541 ) Total deferred tax assets $ 1,472,606 $ 1,380,842 Deferred tax liabilities: Account receivable and other assets (14,632 ) (1,922 ) Intangible assets (14,050 ) (12,289 ) Total deferred tax liabilities $ (28,682 ) $ (14,211 ) A valuation allowance of $26,412,260 and $27,126,541 was established as of December 31, 2018 and 2019, respectively, for the entities that have incurred losses because the Company believes that it is more likely than not that the related deferred tax assets will not be realized in the future. At December 31, 2019, operating loss carry forwards includes approximately $93.2 million which will expire by 2024, and $25.0 million which will carry forward indefinitely. Reconciliation between total income tax expense and the amount computed by applying the PRC EIT statutory rate to income before income taxes is as follows: Years ended December 31, 2017 2018 2019 Loss before tax $ (42,064,021 ) $ (22,417,716 ) $ (12,526,891 ) Income tax benefits calculated at 25% (10,516,005 ) (5,604,429 ) (3,131,723 ) Effect of PRC preferential tax rates and tax holiday 2,678,633 11,750 (49,582 ) Effect of income tax rate difference in other jurisdictions (267,503 ) (652,330 ) 71,057 Non-deductible expenses 7,650,137 2,014,345 886,418 Non-taxable income (8,934,794 ) (929,875 ) (353,790 ) Change in valuation allowance 8,505,113 1,612,806 714,281 Expiration of NOL 1,208,835 3,600,512 2,080,196 Income tax expense $ 324,416 $ 52,779 $ 216,857 During the years ended December 31, 2017, 2018 and 2019, if the Company’s subsidiaries, VIEs and VIEs’ subsidiaries in the PRC were neither in the tax holiday period nor had they been specifically allowed special tax concessions, they would have recorded additional income tax expense of $8,123, nil and $5,545, respectively. There was no significant impact of the tax holidays on basic net loss per ordinary share for the year ended December 31, 2017, 2018 and 2019, respectively . The Company did not identify significant unrecognized tax benefits for the years ended December 31, 2017, 2018 and 2019. The Company did not incur any interest and penalties related to potential underpaid income tax expenses and also believed that the adoption of pronouncement issued by FASB regarding accounting for uncertainty in income taxes did not have a significant impact on the unrecognized tax benefits within 12 months from December 31, 2019. In accordance with relevant PRC tax administration laws, tax years from 2014 to 2019 of the Company’s PRC subsidiaries and VIEs remain subject to tax audits as of December 31, 2019, at the tax authority’s discretion.

American Depositary Shares ("AD

American Depositary Shares ("ADS") Plan	12 Months Ended
	Dec. 31, 2019
American Depositary Shares Plan [Abstract]
American Depositary Shares ("ADS") Plan	1 7 . In September 2015, the Company issued 4,000,000 ordinary shares to its American Depositary Receipt bank and in exchange received 800,000 ADSs under the 2004 Plan and 2014 Plan. As of December 31, 2019, 1,083,955 shares were available for future exercise of options and vesting of granted shares. In April 2019, the Company issued 4,000,000 ordinary shares to its American Depositary Receipt bank and in exchange received 800,000 ADSs under the 2004 Plan and 2014 Plan. As of December 31, 2019, 4,000,000 shares were available for future exercise of options and vesting of granted shares.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Net Loss Per Share	1 8 . The following table sets forth the computation of basic and diluted income (loss) per share for the years indicated: Years ended December 31, 2017 2018 2019 Net loss attributable to China Finance Online Co. Limited $ (36,736,553 ) $ (19,950,120 ) $ (11,262,821 ) Weighted average ordinary shares outstanding used in computing basic net loss per share 113,601,949 113,883,030 114,687,282 Plus: Incremental shares from assumed conversions of stock options, restricted shares and nonvested shares — — — Weighted average ordinary shares outstanding used in computing diluted net loss per share 113,601,949 113,883,030 114,687,282 Net loss per share attributable to China Finance Online Co. Limited - basic $ (0.32 ) $ (0.18 ) $ (0.10 ) - diluted $ (0.32 ) $ (0.18 ) $ (0.10 ) For the year ended December 31, 2018, 4,094,656 options, 5,637,453 restricted shares and 3,000,000 nonvested shares, were anti-dilutive, respectively, because the Company was in the loss position. For the year ended December 31, 2019, 98,901 options, 5,316,935 restricted shares and 3,000,000 nonvested shares, were anti-dilutive, respectively, because the Company was in the loss position.

Mainland China Contribution Pla

Mainland China Contribution Plan and Profit Appropriation	12 Months Ended
	Dec. 31, 2019
Defined Contribution Pension And Other Postretirement Plans Disclosure [Abstract]
Mainland China Contribution Plan and Profit Appropriation	19 . Full time employees of the Company in the PRC participate in a government-mandated defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require the Company to accrue for these benefits based on certain percentages of the employees’ salaries. The total provisions for such employee benefits were $4,768,614, $4,000,211 and $2,708,316 for the years ended December 31, 2017, 2018 and 2019, respectively.

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2019
Noncontrolling Interest [Abstract]
Noncontrolling Interests	2 0 . Commodities brokerage Services Investment Advisory services Institution Subscription services Rifa Financial Holdings Brokerage services Other Total Balance as of January 1, 2017 $ (4,524,931 ) $ — $ — $ 155,057 — $ (4,369,874 ) Dividends paid to noncontrolling shareholders — — — — — — Changes in controlling ownership interest — — — — — — Deconsolidation 809,692 — — — — 809,692 Share-based compensation (Note 15) 876,995 — — — — 876,995 Net income (loss) (6,388,746 ) — — 736,862 — (5,651,884 ) Balance as of December 31, 2017 $ (9,226,990 ) $ — $ — $ 891,919 — $ (8,335,071 ) Dividends paid to noncontrolling interest — — — — — — Changes in controlling ownership interest — — — — — — Deconsolidation 1,216,007 — — — — 1,216,007 Share-based compensation (Note 15) 529,600 — — — — 529,600 Net income (loss) (3,249,840 ) — — 729,465 — (2,520,375 ) Balance as of December 31, 2018 $ (10,731,223 ) $ — $ — $ 1,621,384 — $ (9,109,839 ) Dividends paid to noncontrolling interest — — — — — — Changes in controlling ownership interest — — — — — — Deconsolidation 295,830 — — — — 295,830 Share-based compensation (Note 15) 267,076 — — — — 267,076 Net income (loss) (1,704,695 ) — — 223,768 — (1,480,927 ) Balance as of December 31, 2019 $ (11,873,012 ) $ — $ — $ 1,845,152 — $ (10,027,860 ) In November 2018, China Finance Online entered into a Share Transfer Agreement with West Platinum Limited (the “Buyer”) to sell 1,552,000 shares (“Sale Shares”), or 20% of Rifa Financial Holdings Limited (“Rifa Financial”) for HK$73.8 million (or approximately US$9.4 million) (the “Purchase Price”). Pursuant to the Share Transfer Agreement, the Buyer provided a refundable deposit to the Company of $1.4 million. The refundable deposit was not considered part of the Purchase Price. The deposit was refundable to the Buyer upon the Share Transfer approval by Securities and Futures Commission of Hong Kong (“SFC”). The Share Transfer was approved during 2018 and the Company refunded the deposit to the Buyer during 2019. Pursuant to the Share Transfer Agreement, the completion of the equity transfer is subject to conditions, including but not limited to obtaining all necessary approvals and consents of Securities and Futures Commission of Hong Kong. As of December 31, 2019, both the register of shareholders and business registration had not been changed, therefore the equity transfer has not been completed and recorded in noncontrolling interests. In addition, the Share Transfer Agreement was subject to Rifa Financial being listed on the Main Board of the Stock Exchange of Hong Kong Limited (“HKEX”) as of December 31, 2019. If Rifa Financial is not listed on the HKEX, the Company would refund all amounts received under the Share Transfer Agreement without interest to the Buyer within two weeks from December 31, 2019. Due to the failure of Rifa Financial listing on HKEX through December 31, 2019, the shares were not transferred to the Buyer. The Company is obligated to return the Purchase Price to the Buyer

Leases and Contingencies

Leases and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Leases and Contingencies	2 1 . Leases Leases are classified as operating leases or finance leases in accordance with ASC 842. The Company’s operating leases mainly related to certain office premises under non-cancelable leases. Our principal executive offices as well as our subsidiaries and affiliates that locate in Beijing lease approximately 4,200 square meters. Our subsidiaries and affiliates that locate in Shanghai lease approximately 540 square meters. Our subsidiaries and affiliates that locate in Shenzhen lease approximately 760 square meters. Our subsidiaries and affiliates that locate in Wuhan lease approximately 110 square meters. Our subsidiaries and affiliates that locate in Shandong province lease approximately 275 square meters. Our subsidiaries that locate in Hong Kong lease approximately 460 square meters. As of December 31, 2019, the Company had no long-term leases that were classified as a financing lease. Most leases include one or more options to renew. The exercise of lease renewal options is typically at the Company’s sole discretion; therefore, the majority of renewals to extend the lease terms are not included in the Company’s right-of-use assets and lease liabilities as they are not reasonably certain of exercise. The Company regularly evaluates the renewal options, and when they are reasonably certain of exercise, the Company includes the renewal period in its lease term. Lease costs were as follows: Year Ended December 31, 2019 Operating lease cost (i) $ 2,832,968 Total lease cost 2,832,968 (i) Excluding cost of short-term contracts. Short-term lease costs for year ended December 31, 2019 were $261,136. Supplemental cash flow information related to operating leases for the year ended December 31, 2019 is as follows: December 31, 2019 Operating cash payment for operating leases $ 2,606,034 Weighted average remaining lease term on operating leases 1.20 years Weighted average discount rate on operating leases 4.95 % Future operating leases Year ending 2020 $ 2,350,404 2021 1,101,102 2022 377,082 2023 48,647 Total lease payments 3,877,235 Less: interest (187,150 ) Present value of lease payments $ 3,690,085 Legal Proceedings On June 2, 2019, one of our subsidiaries, Zhengjin (Fujian) Precious Metal Investment Co., Ltd. and its Beijing Consulting Branch Company were sued by Lin Zhang, a PRC citizen in a lawsuit filed in Xicheng District People’s Court in Beijing, PRC (the “Court”) claiming that his/her trading activities in the trading system of Haixi Commodity Trading are invalidated and the defendants shall return the transaction amount in the aggregate of RMB2,729,996, approximately $391,000. The defendants filed an application for objection to jurisdiction to the Court on October 24, 2019. The Court then issued a civil ruling No. 22769 of Beijing 0102 Minchu (2019) on May 6, 2020, and transferred the case to the Gulou District People's Court in Fuzhou City, Fujian Province, PRC for trial. This case remains in its preliminary stage. We intend to defend the actions vigorously. If the final ruling is against us, it may result in adverse effect on our financial position, results of operations or cash flows. On November 29, 2018, our Company, our CEO and one of the editors of our Company were named as defendants in a lawsuit filed in the Supreme Court of the State of New York, County of New York (the “Court”) by Khan Funds Management America and Xuefeng Dai for defamation and libel and other claims. Specifically, the plaintiffs alleged that certain report with respect to a China-based investment company of Xuefeng Dai that was edited by Zhenjiang Zhang and published on the website of the Company has caused, and continues to cause, irreparable harm to plaintiffs professional and personal reputations. The plaintiffs sought damages in an amount exceeding $500 million. On July 24, 2019, the Company filed a motion to dismiss the case. On August 16, 2019, the plaintiffs submitted to Court the notice of discontinuance without prejudice.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment and Geographic Information	2 2 . The Company has three operating segments (1) commodities brokerage services, (2) online financial information and advisory service, and other related services in PRC, (3) Hong Kong brokerage services. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-makers in deciding how to allocate resources and in assessing performance. The Company’s chief executive officer has been identified as the chief operating decision makers. The Company’s chief operating decision maker directs the allocation of resources to operating segments based on the profitability and cash flows of each respective segment. The Company evaluates performance based on several factors, including net revenue, cost of revenue, operating expenses, income from operation. The following tables show the operations of the Company’s operating segments: For the year ended December 31, 2019 Commodities brokerage services Subscription services and other related services Hong Kong brokerage services Consolidated Net revenues $ — $ 26,323,194 $ 15,802,418 $ 42,125,612 Less: intersegment sales — (6,603,751 ) (3,071 ) (6,606,822 ) Net revenues from external customer — 19,719,443 15,799,347 35,518,790 Cost of revenues — 5,348,329 7,839,764 13,188,093 Less: intersegment cost of revenues — (213,958 ) — (213,958 ) Cost of revenues after elimination — 5,134,371 7,839,764 12,974,135 Operating expenses: General and administrative 1,428,075 5,200,622 5,616,870 12,245,567 Product development 7,677 15,502,285 24,011 15,533,973 Sales and marketing 234,661 9,751,017 3,380,644 13,366,322 Total segments operating expenses 1,670,413 30,453,924 9,021,525 41,145,862 Less: intersegment operating expenses — (6,389,793 ) (61,860 ) (6,451,653 ) Total operating expenses 1,670,413 24,064,131 8,959,665 34,694,209 Income (loss) from operations $ (1,670,413 ) $ (9,479,059 ) $ (1,000,082 ) $ (12,149,554 ) Total segments assets 12,200,897 157,264,579 89,864,646 259,330,122 Less: intersegment asset. (11,703,363 ) (138,083,606 ) (20,378,627 ) (170,165,596 ) Total assets $ 497,534 $ 19,180,973 $ 69,486,019 $ 89,164,526 For the year ended December 31, 2018 Commodities brokerage services Subscription services and other related services Hong Kong brokerage services Consolidated Net revenues $ 49,960 $ 34,498,830 $ 22,440,556 $ 56,989,346 Less: intersegment sales — (11,414,814 ) (96,606 ) (11,511,420 ) Net revenues from external customer 49,960 23,084,016 22,343,950 45,477,926 Cost of revenues 2,813 6,249,529 11,212,825 17,465,167 Less: intersegment cost of revenues — (623,252 ) — (623,252 ) Cost of revenues after elimination 2,813 5,626,277 11,212,825 16,841,915 Operating expenses: General and administrative 3,174,478 7,022,338 4,200,746 14,397,562 Product development 277,353 24,394,373 44,295 24,716,021 Sales and marketing 929,411 17,574,405 3,656,372 22,160,188 Total segments operating expenses 4,381,242 48,991,116 7,901,413 61,273,771 Less: intersegment operating expenses — (10,791,561 ) (238,109 ) (11,029,670 ) Total operating expenses 4,381,242 38,199,555 7,663,304 50,244,101 Income (loss) from operations $ (4,334,095 ) $ (20,741,816 ) $ 3,467,821 $ (21,608,090 ) Total segments assets 13,201,206 156,883,869 76,292,657 246,377,732 Less: intersegment asset. (12,624,577 ) (133,070,873 ) (19,992,932 ) (165,688,382 ) Total assets $ 576,629 $ 23,812,996 $ 56,299,725 $ 80,689,350 For the year ended December 31, 2017 Commodities brokerage services Subscription services and other related services Hong Kong brokerage services Consolidated Net revenues $ 3,698,857 $ 23,984,993 $ 25,497,974 $ 53,181,824 Less: intersegment sales (1,110,431 ) (9,232,502 ) (216,241 ) (10,559,174 ) Net revenues from external customer 2,588,426 14,752,491 25,281,733 42,622,650 Cost of revenues (60,504 ) 7,453,185 14,540,997 21,933,678 Less: intersegment cost of revenues — — — — Cost of revenues after elimination (60,504 ) 7,453,185 14,540,997 21,933,678 Operating expenses: General and administrative 4,511,167 7,565,268 3,930,479 16,006,914 Product development 1,776,007 23,502,362 — 25,278,369 Sales and marketing 11,115,488 16,830,525 2,933,763 30,879,776 Loss from impairment of intangible assets — 291,817 — 291,817 Total segments operating expenses 17,402,662 48,189,972 6,864,242 72,456,876 Less: intersegment operating expenses (1,110,431 ) (9,439,947 ) (689,002 ) (11,239,380 ) Total operating expenses 16,292,231 38,750,025 6,175,240 61,217,496 Government subsidies 230,174 — — 230,174 Income (loss) from operations $ (13,413,127 ) $ (31,450,719 ) $ 4,565,496 $ (40,298,350 ) Total segments assets 21,569,350 187,122,375 89,004,771 297,696,496 Less: intersegment asset. (13,995,983 ) (149,214,015 ) (19,882,645 ) (183,092,643 ) Total assets $ 7,573,367 $ 37,908,360 $ 69,122,126 $ 114,603,853 Enterprise wide disclose The Company derives revenue from external customers for each of the following services during the years presented: Years ended December 31, 2017 2018 2019 Commodities brokerage services revenues $ 2,588,426 $ 49,960 $ — Financial information and advisory services revenues 10,271,822 14,891,267 10,674,164 Advertising revenues 3,588,499 7,312,947 8,310,150 Hong Kong brokerage services revenues 25,281,733 22,343,950 15,799,347 Others 892,170 879,802 735,129 Total revenue from external customers $ 42,622,650 $ 45,477,926 $ 35,518,790 Substantially all of the Company’s revenues for the years ended December 31, 2017, 2018 and 2019 were generated from the PRC and Hong Kong. As of December 31, 2017, 2018 and 2019, respectively, substantially all of long-lived assets of the Company are located in the PRC and Hong Kong.

Statutory Reserves and Restrict

Statutory Reserves and Restricted Net Assets	12 Months Ended
	Dec. 31, 2019
Statutory Reserves And Restricted Net Assets [Abstract]
Statutory Reserves and Restricted Net Assets	2 3 . PRC legal restrictions permit payments of dividends by the Company’s PRC entities only out of their retained earnings, if any, determined in accordance with PRC regulations. Prior to payment of dividends, pursuant to the laws applicable to the PRC Domestic Enterprises and PRC Foreign Investment Enterprises, the PRC entities must make appropriations from after-tax profit to non-distributable statutory reserve funds as determined by the Board of Directors of the Company. These reserve funds include the (1) general reserve, (2) enterprise expansion fund and (3) staff bonus and welfare fund. Subject to certain cumulative limits, the general reserve fund requires annual appropriations of not less than 10% of after-tax profit (as determined under accounting principles and financial regulations applicable to PRC enterprises at each year-end); the other two funds are to be made at the discretion of the board of directors of each of the Company’s subsidiaries. These reserve funds can only be used for specific purposes and are not distributable as cash dividends. The balance of the statutory reserves was $8,909,338 and $8,875,124 as of December 31, 2018 and 2019. Such reserves have been included in the retained earnings of the Company’s consolidated balance sheet. As a result of these PRC laws and regulations and the requirement that distributions by PRC entities can only be paid out of distributable profits computed in accordance with PRC GAAP, the PRC entities are restricted from transferring a portion of their net assets to the Company. Amounts restricted include paid-in capital and the statutory reserves of the Company’s PRC subsidiaries and VIEs. As of December 31, 2019, the aggregate amounts restricted which represented the amount of net assets of the relevant subsidiaries and VIEs in the Company not available for distribution was $6,533,816. As a result of the above restrictions, parent-only financials are presented on financial statement Schedule I.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Event	2 4 . i) On January 6, 2020, the Company effected a 10:1 ratio change of the Company’s ADS program from 1 ADS representing 5 ordinary shares of the Company to a new ratio of 1 ADS representing 50 ordinary shares of the Company. ii) On January 30, 2020, the World Health Organization declared the coronavirus outbreak a "Public Health Emergency of International Concern" and on March 10, 2020, declared it to be a pandemic. Actions taken around the world to help mitigate the spread of the coronavirus include restrictions on travel, and quarantines in certain areas, and forced closures for certain types of public places and businesses. The coronavirus and actions taken to mitigate it have had and are expected to continue to have an adverse impact on the economies and financial markets of many countries, including the geographical area in which the Company operates. The outbreak of COVID-19, the coronavirus, has grown both in the United States and globally, and related government and private sector responsive actions have adversely affected the Company’s business operations. COVID-19 originated in Wuhan, China, in December 2019, and a series of emergency quarantine measures taken by the PRC government disrupted domestic business activities in the PRC during the weeks after the initial outbreak of COVID-19. Since that time, an increasing number of countries, including the United States, have imposed restrictions on travel to and from the PRC and elsewhere, as well as general movement restrictions, business closures and other measures imposed to slow the spread of COVID-19. The situation continues to develop rapidly, however, and it is impossible to predict the effect and ultimate impact of the COVID-19 outbreak on the Company’s business operations and results. While the quarantine, social distancing and other regulatory measures instituted or recommended in response to COVID-19 are expected to be temporary, the duration of the business disruptions, and related financial impact, cannot be estimated at this time. The COVID-19 outbreak could evolve into a worldwide health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn and changes in global economic policy that could reduce demand for the Company’s products and services and have a material adverse impact on the Company’s business, operating results and financial condition. Travel and other restrictions have limited access to the Company’s facilities and have resulted in delays by the Company in the preparation of its financial statements due to limited support from our staff, and by the Company’s independent public accountant in the completion of the necessary audit procedures. This, in turn, has delayed the Company’s ability to complete its audit and prepare the Annual Report in time to be filed by the original due date of April 30, 2020. During the COVID-19 pandemic in China, some institutional customers reduced, delayed or canceled their subscriptions for our services because of tighter budget, which adversely affects our revenues generated from financial information and advertising businesses. Furthermore, the capital markets are experiencing pronounced volatility during the current global COVID-19 pandemic, which may adversely affect investor’s confidence and, in turn affect, our securities brokerage business in Hong Kong and our other businesses. In addition, the COVID-19 pandemic has caused us to modify our business practices (such as employee travel plan and cancellation of physical participation in meetings, events, and conference), and we may take further actions as required by governmental authorities in China or that we determine are in the best interests of our employees, customers, and business partners. As a result of social distancing, travel bans and quarantine measures, access to our facilities, customers, management, support staff, and professional advisors has been limited, which in turn, will impact our operations, financial condition and demand for our services. The extent to which COVID-19 impacts our business, results of operations and financial condition will depend on future developments, which are uncertain and cannot be predicted, including, but not limited to, the duration and spread of the outbreak, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Even after the COVID-19 outbreak has subsided, we may continue to experience materially adverse impacts to our business as a result of its global economic impact, including any recession that has occurred or may occur in the future.

Financial Information of Parent

Financial Information of Parent Company	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Financial Information of Parent Company	December 31, 2018 2019 Assets Current assets: Cash and cash equivalents $ 2,375,055 $ 753,380 Amounts due from subsidiaries, VIEs and VIE’s subsidiaries 9,840,733 9,557,835 Prepaid expenses and other current assets 104,338 260,303 Total current assets 12,320,126 10,571,518 Investments in subsidiaries, VIEs and VIE’s subsidiaries 41,009,649 39,142,555 Total assets $ 53,329,775 $ 49,714,073 Liabilities and shareholders’ equity Current liabilities: Accrued expenses and other current liabilities 4,793,891 9,936,508 Amounts due to subsidiaries, VIEs and VIE’s subsidiaries 13,090,208 14,621,679 Total current liabilities $ 17,884,099 $ 24,558,187 Shareholders’ equity Ordinary shares (118,098,018 and 122,098,018 shares issued and outstanding as of December 31, 2018 and 2019, respectively) 57,001,017 57,006,534 Additional paid-in capital 36,079,122 36,925,874 Accumulated other comprehensive income 6,291,793 6,412,555 Retained deficits (63,926,256 ) (75,189,077 ) Total shareholders’ equity 35,445,676 25,155,886 Total liabilities and shareholders’ equity $ 53,329,775 $ 49,714,073 CHINA FINANCE ONLINE CO. LIMITED Financial information of Parent Company Statements of Comprehensive Income (In U.S. dollars) December 31, 2017 2018 2019 Cost of revenues $ 84,717 $ 85,493 $ 87,105 Gross loss (84,717 ) (85,493 ) (87,105 ) Operating expenses: General and administrative 1,122,440 1,069,590 1,111,665 Sales and marketing 181,073 17,526 — Share-based compensation 782,196 858,415 417,004 Total operating expenses 2,085,709 1,945,531 1,528,669 Interest income 2,246 4,851 93 Equity in earnings (deficits) of subsidiaries, VIEs and VIE’s subsidiaries (34,540,850 ) (17,888,289 ) (9,627,269 ) Exchange loss, net (2,785 ) (10,608 ) (19,871 ) Other income (expense), net (24,738 ) (25,050 ) — Net income (loss) $ (36,736,553 ) $ (19,950,120 ) $ (11,262,821 ) Other comprehensive income (loss), net of tax: Changes in foreign currency translation adjustment 2,400,548 (362,398 ) 120,762 Other comprehensive income (loss), net of tax 2,400,548 (362,398 ) 120,762 Comprehensive income (loss) $ (34,336,005 ) $ (20,312,518 ) $ (11,142,059 ) CHINA FINANCE ONLINE CO. LIMITED Financial Information of Parent Company Statement of Shareholders’ Equity (In U.S. dollars, except share data) Additional Accumulated other Retained Total Ordinary shares paid-in comprehensive earnings shareholders’ Shares Amount capital income (loss) (deficits) equity Balance as of January 1, 2017 118,098,018 $ 56,973,632 $ 32,176,992 $ 4,253,643 $ (7,239,583 ) $ 86,164,684 Exercise of share options by employees — 26,785 — — — 26,785 Share-based compensation — — 782,196 — — 782,196 Equity pick up from compensation of VIE's subsidiaries — — 1,409,022 — — 1,409,022 Foreign currency translation adjustment — — — 2,400,548 — 2,400,548 Net loss — — — — (36,736,553 ) (36,736,553 ) Balance as of December 31, 2017 118,098,018 $ 57,000,417 $ 34,368,210 $ 6,654,191 $ (43,976,136 ) $ 54,046,682 Exercise of share options by employees — 600 — — — 600 Share-based compensation — — 858,415 — — 858,415 Equity pick up from compensation of VIE's subsidiaries — — 852,497 — — 852,497 Changes in controlling ownership interest — — — — — — Foreign currency translation adjustment — — — (362,398 ) — (362,398 ) Net income — — — — (19,950,120 ) (19,950,120 ) Balance as of December 31,2018 118,098,018 $ 57,001,017 $ 36,079,122 $ 6,291,793 $ (63,926,256 ) $ 35,445,676 Issuance of ordinary shares for the plan of stock options and restricted shares 4,000,000 520 — — — 520 Exercise of share options by employees — 4,997 — — — 4,997 Share-based compensation — — 417,004 — — 417,004 Equity pick up from compensation of VIE's subsidiaries — — 429,748 — — 429,748 Changes in controlling ownership interest — — — — — — Foreign currency translation adjustment — — — 120,762 — 120,762 Net income — — — — (11,262,821 ) (11,262,821 ) Balance as of December 31,2019 122,098,018 $ 57,006,534 $ 36,925,874 $ 6,412,555 $ (75,189,077 ) $ 25,155,886 CHINA FINANCE ONLINE CO. LIMITED Financial information of Parent Company Statements of Cash Flows (In U.S. dollars, except share-related data) December 31, 2017 2018 2019 Operating activities: Net income (loss) $ (36,736,553 ) $ (19,950,120 ) $ (11,262,821 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Share-based compensation 782,196 858,415 417,004 Equity in deficits (earnings) of subsidiaries, VIEs and VIE’s subsidiaries 34,540,850 17,888,289 9,627,269 Changes in assets and liabilities: Prepaid expenses and other current assets 83,021 37,254 (155,445 ) Amounts due from subsidiaries, VIEs and VIE’s subsidiaries 28,544 4,972 282,898 Accrued expenses and other current liabilities (211,691 ) 235,882 225,952 Amounts due to subsidiaries, VIEs and VIE’s subsidiaries (326,263 ) 3,319,598 1,531,471 Net cash (used in) provided by operating activities (1,839,898 ) 2,394,290 666,328 Investing activities: Capital paid to subsidiaries — (12,100,010 ) (7,240,000 ) Net cash provided by (used in) investing activities — (12,100,010 ) (7,240,000 ) Financing activities: Proceeds from stock options exercised by employees and Issuance of ordinary shares 26,786 600 4,997 Proceeds from paid-in capital of noncontrolling shareholders — 4,466,000 4,947,000 Net cash provided by financing activities 26,786 4,466,600 4,951,997 Net (decrease) increase in cash, cash and restricted cash equivalents (1,813,112 ) (5,239,120 ) (1,621,675 ) Cash, cash equivalents and restricted cash, beginning of the year 9,427,287 7,614,175 2,375,055 Cash, cash equivalents and restricted cash, end of the year $ 7,614,175 $ 2,375,055 $ 753,380 Note: Basis for preparation The parent-company Financial Information of China Finance Online has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that China Finance Online has used equity method to account for its investments in its subsidiaries and variable interest entities.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Reclassification	Reclassification Certain amounts in the consolidated financial statements have been reclassified from their original presentation to conform to current year presentation. These reclassifications had no material impact on the consolidated financial statements as previously reported.
Basis of Consolidation	Basis of consolidation The consolidated financial statements include the financial statements of China Finance Online, its subsidiaries, VIEs for which the Company is the primary beneficiary and those VIEs’ subsidiaries. All inter-company transactions and balances have been eliminated upon consolidation.
Cash and Cash Equivalents	Cash and cash equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments which are unrestricted as to withdrawal or use, and which have original maturities of three months or less when purchased.
Restricted Cash	Restricted cash Restricted cash is the deposit in bank accounts for providing guarantee to perform the contract obligation related to “Yinglibao”, a mobile-based financial platform that integrates cash management solutions and mutual fund distribution.
Fair Value Measurement	Fair value measurement Fair value is considered to be the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The three levels of inputs may be used to measure fair value include: Level 1 Level 2 Level 3 Financial instruments include cash and cash equivalents, restricted cash, accounts receivable, short-term investment, equity investments without readily determinable fair value, equity method investment and accounts payable. The carrying values of cash and cash equivalents, restricted cash, accounts receivable, short-term investments and accounts payable approximate their fair value due to their short-term maturities. The carrying value of acquired assets was nearly the fair value of the investment based on the valuation performed by the Company as of December 31, 2018 and 2019. See Note 3 for further discussion. The Company’s short-term investment consists of available-for-sale securities. See Note 5 and Note 6 for further discussion. The carrying value of the equity investment without readily determinable fair value was $1,631,892 and $1,605,459 as of December 31, 2018 and 2019, which are accounted for under the measurement alternative method of accounting. These investments are measured at cost, less any impairment, plus or minus any changes resulting from observable price changes in orderly transactions for an identical or similar investment. No dividends were paid to us in history. See Note 7 for further discussion. The carrying value of the equity method investment was $778,721 and $766,583 as of December 31, 2018 and 2019, which approximate the fair value of the investments at the acquired date and subsequently adjusted as the net assets of the investee change through the earning of income. See Note 8 for further discussion. The Company measures certain assets, including intangible assets and goodwill at fair value on a nonrecurring basis when they are deemed to be impaired. The fair values of goodwill and intangible assets are determined based on valuation techniques using the best information available, and may include management judgments, future performance projections, See Note 6 for further discussion. The Company measured the fair value for the assets acquired, with the assistance of an independent valuation firm, using discounted cash flow techniques, and these assets were valued using Level 3 inputs, because the Company used unobservable inputs to value them, reflecting the Company’s assessment of the assumptions market participants would use in valuing these purchased intangible assets. The Company does not use derivative instruments to manage risks.
Trust Bank Balances Held on Behalf of Customers	Trust bank balances held on behalf of customers Trust bank balances held on behalf of customers consist three parts: i) Rifa Securities and Rifa Futures receive fund from customers for purpose of buying or selling securities and futures on behalf of its customers and deposits the fund in its interest-bearing bank account; ii) The funds received by CFO Newrand from customers who purchase mutual funds and other wealth management products which are deposited in a trust bank account, iii) Funds received by Beijing Chuangying from customers who invest in P2P lendings which are deposited in a trust bank account.
Use of Estimates	Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Company’s consolidated financial statements include account receivable, cost method investment, equity method investment, impairment of goodwill and long-lived assets, income taxes, share-based compensation and purchase price allocation. Actual results could differ from those estimates.
Short-term Investments	Short-term investments Short-term investments comprise marketable debt securities, which are classified as available-for-sale. Short-term investments classified as available for sale are carried at their fair values and the unrealized gains or losses from the changes in fair values are included in accumulated other comprehensive income. Gains and losses from sale of available for sales securities are recognized in short-term investment income or loss of the statements of operations and comprehensive loss. Available for sale securities are classified as current assets on the accompanying consolidated balance sheets because they are available for immediate sale. The Company reviews its short-term investments for other-than-temporary impairment based on the specific identification method. The Company considers available quantitative and qualitative evidence in evaluating potential impairment of its short-term investments. If the cost of an investment exceeds the investment’s fair value, the Company considers, among other factors, general market conditions, government economic plans, the duration and the extent to which the fair value of the investment is less than the cost, and the Company’s intent and ability to hold the investment, in determining if impairment is needed.
Property and Equipment, Net	Property and equipment, net Property and equipment, net are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives: Technology infrastructure 5 years Computer equipment 5 years Furniture, fixtures and equipment 5 years Motor vehicle 5 years Leasehold improvements Shorter of the lease term or 5 years
Acquired Intangible Assets, Net	Acquired intangible assets, net Acquired intangible assets are estimated by management based on the fair value of assets acquired. Identifiable intangible assets are carried at cost less accumulated amortization. Amortization of definite-lived intangible assets is computed using the straight-line method over the estimated average useful lives, which are as follows: License and related trademarks 10-15 years Completed technology 5 years Customer relationship 4-5 years Certain trademarks resulting from the acquisitions of business and certain trading rights bought by the Company are determined to have indefinite lives. If an intangible asset is determined to have an indefinite life, it is not amortized until its useful life is determined to be no longer indefinite.
Guarantee Fund Deposits	Guarantee fund deposits Guarantee fund deposits consist of i) the funds deposited with Hong Kong Exchange and Clearing Limited by Rifa Futures, to guarantee its customers’ settlement obligations; ii) the funds deposited with the commodities exchanges as a result of its customers’ trading. The Company needs to deposit certain percentage of its customers’ trading margins with the commodities exchanges.
Leases	Leases Effective January 1, 2019, the Company adopted ASC Topic 842, Lease (“ASC 842”) using the modified retrospective method and did not restate the comparable periods. The Company categorizes leases with contractual terms longer than twelve months as either operating or finance lease. However, the Company has no finance leases for any of the periods presented. Right-of-use (“ROU”) assets represent the Company’s rights to use underlying assets for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term, reduced by lease incentives received, plus any initial direct costs, using the discount rate for the lease at the commencement date. As the implicit rate in lease is not readily determinable for the Company’s operating leases, the Company generally use the incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date.
Impairment of Long-Lived Assets with Definite Lives	Impairment of long-lived assets with definite lives The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Company compares the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Company would recognize an impairment loss based on the fair value of the assets. There were no
Impairment of Goodwill and Indefinite-Lived Intangible Assets	Impairment of goodwill and indefinite-lived intangible assets The Company performs a qualitative analysis that includes reviewing the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist, whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable at least annually. The excess of the purchase price over the fair value of net assets acquired is recorded on the consolidated balance sheet as goodwill. After a qualitative analysis indicates an impairment test is needed, the Company completes a two-step goodwill impairment test. The first step is to compare the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step is to compare the implied fair value of goodwill to the carrying value of a reporting unit’s goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. Estimating fair value is performed by utilizing various valuation techniques, with the primary technique being a discounted cash flow. The impairment test for other intangible assets not subject to amortization consists of a comparison of the fair value of the intangible asset with its carrying value. If the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The estimates of fair values of intangible assets not subject to amortization are determined using various discounted cash flow valuation methodologies. Significant assumptions are inherent in this process, including estimates of discount rates. Discount rate assumptions are based on an assessment of the risk inherent in the respective intangible assets. The Company performed the annual impairment tests on December 31 of each year. Based on the Company’s assessment, the Company recorded no
Revenue Recognition	Revenue recognition We provided precious metals spot trading, silver product sales and financial investment advisory services (“commodities brokerage services”) from 2013 to 2017. We also provide brokerage and related services outside mainland China (“Hong Kong Brokerage services”), financial information and advisory services including subscriptions services for financial data, information services and investment advisory, online P2P lending (“Financial information and advisory services”), and advertising services. We adopted ASC topic 606, Revenue from Contracts with Customers (“ASC 606”), from January 1, 2018, using the modified retrospective transition method. Because there was no change to the timing and pattern of revenue recognition, there was no material changes to the Company’s processes and internal controls and there was no adjustment to beginning retained earnings on January 1, 2018. Under ASC 606, an entity recognizes revenue as it satisfies a performance obligation when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price, including variable consideration, if any; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. We only apply the five-step model to contracts when it is probable that the entity will collect the consideration to which it is entitled in exchange for the goods or services it transfers to the customer. Commodities brokerage business During the second quarter of 2017, new commodities trading was suspended by most of precious metal exchange in China. Such suspension announcements have adversely affected companies in commodity brokerage businesses in China, including us. As a result, the Company stopped providing commodities brokerage business in 2017. During 2013 to 2017, the Company derives commission income, carrying charges and trading revenues from its commodities brokerage services. The Company acted as an agent. Commission income is recognized on a trade basis based on their customers’ trading volumes. The commission earned is fixed no matter how the client’s open positions are ultimately settled. Additionally, the Company charges carrying charges to its customers. The commissions and carrying charges are presented in net revenues in the statement of comprehensive income. Amounts are settled with the Exchange by both the Company and the customers and the exchange then settles with any counterparty. The exchange offsets the Company’s gains and losses and amounts receivable and amounts payable from the exchange are presented net on the consolidated balance sheets as the Company and the exchange settle net. Trading gains, net include brokerage fees and margins generated from derivative trades executed with customers and other counterparties and are recognized when trades are executed. Trading gains, net also include activities where the Company acts as market maker in the purchase and sale of commodities derivative instruments with customers. These transactions may be offset simultaneously with another customer or counterparty, offset with similar but not identical positions on an exchange, made from inventory, or may be aggregated with other purchases to provide liquidity intraday, for a number of days, or in some cases, particularly the commodities brokerage business, even longer periods (during which fair value may fluctuate). Therefore, trading gains, net includes activities from the Company’s operations of a proprietary commodity trades. Net trading gains are recognized on a trade-date basis and include realized gains or losses and changes in unrealized gains or losses on investments at fair value. Unrealized gains/losses on open positions are marked to market at each period end and may present trading gains and losses which comprise both realized and unrealized gains and losses, on a net basis in the statement of comprehensive income. The open transactions may lead to receivables and/or payables for open transaction which are recorded on the consolidated balance sheets. Revenue generally is recognized net of any taxes collected from customers and subsequently remitted to governmental authorities. The following table presents the totally recognized net revenue from commodities trading business, consisted of: Years ended December 31, 2018 2019 Commodities trading gain (loss) $ (9,864 ) $ — Commission income 59,824 — Carrying charges — — $ 49,960 $ — Revenue recognition Hong Kong Brokerage services The Company also derives commission from its brokerage services provided by the subsidiaries, Rifa Securities and Rifa Futures which buy or sell securities and future contracts on their customers’ behalf. The Company acts as an agent with their customers for these transactions. The commission income is recognized on a trade date basis as transactions occur. Financial information and advisory services The Company derives revenue from subscription fees from subscribers to their financial data, information services and investment advisory. The Company recognizes revenues when all of the following criteria are met: (1) a contract is identified, (2) the performance obligations in the contract are identified, (3) the transaction price is determined, (4) the transaction price is allocated to the performance obligations in the contract, and (5) performance obligation is satisfied. Upon receipt of the upfront cash payments from the subscriber, the Company will activate the subscriber’s account and provide the subscriber the access code. This will commence a certain subscription period according to the customer demand and the full payment will be deferred and recognized ratably over the subscription period. The Company recognizes revenue ratably over the life of the arrangement. Estimated refund of subscription fees is recorded as deduction of revenue and deferred revenue. The Company also derives revenue from providing services as information intermediary in online P2P lending business. We procure borrowing and lending information from independent third parties, and our professional team evaluates and selects the information provided by third parties, from the perspective of risks. Eventually we display the selected information on the platform of Yinglibao, which is our online consumer finance marketplace. We charge borrowers interests on fixed rates for facilitating loan transactions, and the revenues are recognized upon completion of the services. Advertising revenue The Company derives its advertising fees from advertising sales on their website for a fixed period of time, generally less than one year. The Company acts as a principal and revenues from advertising arrangements are recognized ratably over the period the advertising is displayed.
Business Taxes and Value Added Taxes	Business taxes and value added taxes Starting from January 1, 2012, the PRC Ministry of Finance and the State Administration of Taxation launched a Business Tax to value added tax (“VAT”) Transformation Pilot Program (the “Pilot Program”), for certain industries in Shanghai. On September 1, 2012, the PRC Ministry of Finance and the State Administration of Taxation extended the Pilot Program to certain industries in other eight regions, including Beijing and Shenzhen. With the adoption of Pilot Program, our advertising-related revenues and certain subscription revenues were subject to VAT tax at a rate of 6%. Our advertising- related revenues, certain subscription revenues and certain commodities brokerage revenues were recognized after deducting VAT and other related surcharges. Revenue is recorded net of business taxes when incurred. The Company is subject to business taxes of 3%-5% on taxable services provided to its customers. During the years ended December 31, 2017, 2018, and 2019 business taxes and related surcharges totaled $262,117, $349,270 and $310,257, respectively. The Company’s certain PRC subsidiaries, VIEs and VIEs’ subsidiaries are subject to VAT at a rate of 17% before May 1, 2018, 16% between May 1, 2018 and April 1, 2019, and 13% after April 1, 2019 on subscription-based revenue. VAT payable on subscription-based revenue is computed net of VAT paid on purchases. In respect of subscription-based revenue, however, if the net amount of VAT payable exceeds 3% of subscription-based revenue, the excess portion of value added tax can be refunded immediately. The Company therefore is subject to an effective net VAT burden of 3% from subscription-based revenue and records VAT on a net basis. Net amount of value added tax is recorded either in the line item of other current liabilities or prepaid expenses and other current assets on the face of consolidated balance sheet. Subscription-based revenue includes the benefit of the refund of value added taxes on sale of the downloadable software received from the Chinese tax authorities as part of the PRC government policy of encouraging software development in the PRC. In 2017, 2018 and 2019, the Company recognized $348,165, $189,335 and $96,709, respectively, in VAT refunds.
Government Subsidies	Government subsidies The Company records government subsidies when granted by local government authority and are not subject to future return. The government subsidies include research & development subsidy, business tax refund, innovation fund and high-tech company subsidy. When the grant relates to an expense item, it is recognized as income over the periods necessary to match the grant on a systematic basis to the costs that it is intended to compensate.
Deferred Revenue	Deferred revenue Payments received in advance of for our financial information and advisory service, advertising service are recorded as deferred revenue until earned and when the relevant revenue recognition requirements have been met.
Equity investment without readily determinable fair value	Equity investment without readily determinable fair value (previously known as cost method investment) Equity investments without readily determinable fair value are accounted for under the measurement alternative method of accounting. These investments are measured at cost, less any impairment, plus or minus any changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. No dividends were paid
Equity Method Investment	Equity method investment Under the equity method, the Company initially records its investment at cost. The Company subsequently adjusts the carrying amount of the investment to recognize the Company’s proportionate share of each equity investee’s net income or loss. The Company will discontinue applying equity method if an investment (and additional financial supports to the investee, if any) has been reduced to zero. When the equity-method investment in ordinary shares is reduced to zero and further investments are made that have a higher liquidation preference than ordinary shares, the Company would recognize the loss based on its percentage of the investment with the same liquidation preference, and the loss would be applied to those investments of a lower liquidation preference first before being further applied to the investments of a higher liquidation preference. An impairment loss on the equity method investments is recognized in the consolidated statements of comprehensive income when the decline in value is determined to be other than-temporary. Also, noncontrolling interests of the Company are reported as a component of equity, separate from the parent company’s equity. Results of operations attributable to the non-controlling interest are included in the Company’s consolidated statements of comprehensive loss.
Foreign Currency Translation	Foreign currency translation The functional and reporting currency of the Company is the United States dollar (“U.S. dollar”). The financial records of the Company’s subsidiaries, VIEs and VIEs’ subsidiaries located in the PRC, Hong Kong and British Virgin Islands are maintained in their local currencies, the Renminbi (“RMB”), Hong Kong Dollars (“HK$”), and U.S. Dollars (“US$”), respectively, which are also the functional currencies of these entities. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the statements of operations. The Company’s entities with functional currency of RMB and HK$ translate their operating results and financial position into the US$, the Company’s reporting currency. Assets and liabilities are translated using the exchange rates in effect on the balance sheet date. Revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are report as cumulative translation adjustments and are shown as a separate component of other comprehensive income. Translations of amounts from RMB and HK$ into U.S. dollars were made at the following exchange rates for the respective dates and periods: At December 31, 2017 2018 2019 Consolidated balance sheets: RMB to $1.00 6.5342 6.8632 6.9762 HKD to $1.00 7.8170 7.8329 7.7877 Consolidated statements of operations and comprehensive income: RMB to $1.00 6.7518 6.6174 6.8985 HKD to $1.00 7.7930 7.8380 7.8346
Foreign Currency Risk	Foreign currency risk The RMB is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of Renminbi into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. Cash and cash equivalents of the Company included aggregate amounts of $15,237,326, $4,271,342 and $1,241,702 at December 31, 2017, 2018 and 2019 which were denominated in RMB.
Product Development Expenses	Product development expenses Costs of product development, including investment in data capability, are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized. The Company essentially completed its development concurrently with the establishment of technological feasibility, and, accordingly, no costs have been capitalized.
Advertising Costs	Advertising costs The Company expenses advertising costs as incurred. Total advertising expenses were $1,014,481, $540,574 and $87,629 for the years ended December 31, 2017, 2018 and 2019, respectively, and have been included as part of sales and marketing expenses in the accompanying consolidated statements of operations.
Commissions Paid	Commissions paid Commissions paid are the commission of our Hong Kong brokerage business and the commissions paid to the sales agents of our commodities brokerage business. Total commissions paid were $13,976,505, $11,110,741 and $7,836,793 for the years ended December 31, 2017, 2018 and 2019.
Income Taxes	Income taxes The Company accounts for income taxes using the liability method whereby deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable values. In evaluating the ability to recover its deferred income tax assets, the Company considers all available positive and negative evidence, including its operating results, ongoing tax planning and forecasts of future taxable income on a jurisdiction-by-jurisdiction basis. In the event the Company determines that it would be able to realize its deferred income tax assets in the future in excess of their net recorded amount, it would make an adjustment to the valuation allowance that would reduce the provision for income taxes. Conversely, in the event that all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to earnings in the period such determination is made. Tax benefits related to uncertain tax positions are recognized when it is more likely than not that a tax position will be sustained during an audit. Interest and penalties related to unrecognized tax benefits are included within the provision for income tax.
Comprehensive Loss	Comprehensive loss Comprehensive loss includes net loss, unrealized gain (loss) on short-term investments and foreign currency translation adjustments. Beginning in January 1, 2012, the Company presents the components of net income, the components of other comprehensive income and total comprehensive income a single continuous consolidated statement of comprehensive income.
Share-based Compensation	Share-based compensation Share-based compensation with employees is measured based on the grant date fair value of the equity instrument. The Company recognizes the compensation costs net of an estimated forfeiture rate using the straight-line method for performance based awards or graded vesting attribution method for service based awards, over the requisite service period of the award, which is generally the vesting period of the award. The estimate of forfeitures will be adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures will be recognized through a cumulative catch-up adjustment in the period of change and will also impact the amount of share-based compensation expense to be recognized in future periods. Share awards issued to nonemployees are measured at fair value at the earlier of the commitment date or the date the services is completed and recognized over the period the service is provided or as goods is received.
Net Loss Per Share	Net loss per share Basic net loss per share attributable to China Finance Online Co. Limited is computed by dividing net loss attributable to China Finance Online Co. Limited by the weighted average number of ordinary shares outstanding during the period. Diluted net income per ordinary share attributable to China Finance Online Co. Limited reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. The dilutive effect of the stock options and nonvested shares is computed using treasury stock method.
Concentrations of Credit Risk	Concentrations of credit risk Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash and cash equivalents, restricted cash, short-term investments, loan receivable and accounts receivable. The Company places its cash and cash equivalents, restricted cash, short-term investments in major financial institutions located in PRC and Hong Kong, which management considers to be of high credit quality. The Company conducts ongoing credit evaluations of its customers and generally does not require collateral or other security from its customers except for the accounts receivable-margin clients which represents the margin loan to customers for securities purchase. The accounts receivable-margin client was collateralized by the securities the margin client purchased. The Company manages its credit risk by collecting up-front fee from its customers and billing at regular intervals during the contract period. The Company assesses the adequacy of allowance for doubtful accounts primarily based upon the age of the receivables and factors surrounding the credit risk of specific customers. Details of clients accounting for 10% or more of accounts receivable are as follows: Year ended December 31, 2018 2019 Amount % Amount % A * * $ 5,262,041 20.4 % *Represented less than 10% of consolidated account receivable balance. There were no customers with 10% or more of the Company’s revenues during 2017, 2018, or 2019.
Accounting Pronouncements Adopted and Not Yet Effective	Accounting pronouncements adopted during the year ended December 31, 2019 In June 2018, the FASB issued ASU 2018-07, which simplifies several aspects of the accounting for nonemployee share-based payment transactions resulting from expanding the scope of Topic 718, Compensation-Stock Compensation, to include share-based payment transactions for acquiring goods and services from non-employees. Some of the areas for simplification apply only to nonpublic entities. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted. We do not plan to early adopt this ASU. Effective January 1, 2019, the Company adopted ASU 2018-07, which did not have a material impact on the Company’s consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (“ASU 2018-02”), which provides financial statement preparers with an option to reclassify stranded tax effects within accumulated other comprehensive income to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of ASU 2018-02 is permitted, including adoption in any interim period for the public business entities for reporting periods for which financial statements have not yet been issued. The amendments in this ASU should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of the ASU 2018-02 did not have a material impact on the Company’s consolidated financial statements. In July 2017, the FASB issued ASU No. 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Non-controlling Interests with a Scope Exception” (“ASU 2017-11”), which addresses the complexity of accounting for certain financial instruments with down round features. Down round features are features of certain equity-linked instruments (or embedded features) that result in the strike price being reduced on the basis of the pricing of future equity offerings. Current accounting guidance creates cost and complexity for entities that issue financial instruments (such as warrants and convertible instruments) with down round features that require fair value measurement of the entire instrument or conversion option. The amendments in Part I of this ASU are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The adoption of the ASU 2017-11 did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Subtopic 842).” The new guidance requires lessees to recognize assets and liabilities arising from leases as well as extensive quantitative and qualitative disclosures. A lessee will need to recognize on its balance sheet a right-of-use asset and a lease liability for the majority of its leases (other than leases that meet the definition of a short-term lease). The lease liabilities will be equal to the present value of lease payments. The right-of-use asset will be measured at the lease liability amount, adjusted for lease prepayment, lease incentives received and the lessee’s initial direct costs. The standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Effective January 1, 2019, the Company adopted ASU 2016-02. The original guidance required application on a modified retrospective basis with the earliest period presented. In August 2018, the FASB issued ASU 2018-11, Targeted Improvements to ASC 842, Leases, which included an option to not restate comparative periods in transition and elect to use the effective date of Accounting Standards Codification (“ASC”) 842 as the date of initial application of transition, which the Company elected. As a result of its adoption of ASC 842 as of January 1, 2019, the Company recorded operating lease right-of-use assets of $3,988,004 and lease liabilities of $3,690,085. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company to carry forward the historical lease classification. Additional information and disclosures required by this new standard are contained in Note 21. In May 2017, the FASB issued ASU No. 2017-09, “Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting” (“ASU 2017-09”), which provides guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. The amendments in this ASU are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The adoption of ASU 2017-09 did not have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers (Topic 606), which is effective January 1, 2018. The guidance clarifies that revenue from contracts with customers should be recognized in a manner that depicts both the likelihood of payment and the timing of the related transfer of goods or performance of services. In March 2016, the FASB issued an amendment (ASU 2016-08) to the new revenue recognition guidance clarifying how to determine if an entity is a principal or agent in a transaction. In April (ASU 2016-10), May (ASU 2016-12), and December (ASU 2016-20) of 2016, the FASB further amended the guidance to include performance obligation identification, licensing implementation, collectability assessment and other presentation and transition clarifications. The effective date and transition requirements for the amendments is the same as for ASU 2014-09. The Company adopted the revenue recognition guidance from January 1, 2018 using the modified retrospective method of adoption. The Company has performed an assessment of our revenue contracts and concluded that there will be no change to (1) the timing and pattern of revenue recognition for its current revenue streams in scope of Topic 606, which includes subscription fees, commission income, carrying charges and advertising fees, or (2) the presentation of revenue as gross versus net upon adoption of Topic 606. Because there was no change to the timing and pattern of revenue recognition, there was no material changes to the Company’s processes and internal controls and there was no adjustment to beginning retained earnings on January 1, 2018. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). Under this new standard, the FASB issued new guidance related to accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. ASU 2016-01 is effective beginning after December 15, 2017 including interim periods within those annual periods. Early adoption is permitted. The adoption of ASU 2016-01 did not have a material impact on our consolidated financial statements. Accounting pronouncements not yet effective: In March 2020, the FASB issued ASU 2020-03, Codification Improvements to Financial Instruments, (“ASU 2020-03”). ASU 2020-03 improves various financial instruments topics, including the CECL Standard. ASU 2020-03 includes seven different issues that describe the areas of improvement and the related amendments to GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments related to Issue 1, Issue 2, Issue 4 and Issue 5 were effective upon issuance of ASU 2020-03. The amendments related to Issue 3, Issue 6 and Issue 7 were effective for the Company beginning on January 1, 2020. We are currently evaluating the impact of the adoption of ASU 2020-3 on our consolidated financial statements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, (“ASU 2019-04”). ASU 2019-04 clarifies and improves areas of guidance related to the recently issued standards on credit losses (ASU 2016-13), hedging (ASU 2017-12), and recognition and measurement of financial instruments (ASU 2016-01). The amendments generally have the same effective dates as their related standards. If already adopted, the amendments of ASU 2016-01 and ASU 2016-13 are effective for fiscal years beginning after December 15, 2019 and the amendments of ASU 2017-12 are effective as of the beginning of the Company’s next annual reporting period; early adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2019-04 on our consolidated financial statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities, (“ASU 2018-17”). ASU 2018-17 requires reporting entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety for determining whether a decision-making fee is a variable interest. The standard is effective for all entities for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. Entities are required to apply the amendments in ASU 2018-17 retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. We currently evaluating the impact of adopting ASU 2018-17 on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), which eliminates, adds and modifies certain disclosure requirements for fair value measurements. The modified standard eliminates the requirement to disclose changes in unrealized gains and losses included in earnings for recurring Level 3 fair value measurements and requires changes in unrealized gains and losses be included in other comprehensive income for recurring Level 3 fair value measurements of instruments. The standard also requires the disclosure of the range and weighted average used to develop significant unobservable inputs and how weighted average is calculate for recurring and nonrecurring Level 3 fair value measurements. The amendment is effective for fiscal years beginning after December 15, 2019 and interim periods within that fiscal year, with early adoption permitted. The Company does not expect the adoption of ASU 2018-13 to have a material impact on our consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”), which removes Step 2 from the goodwill impairment test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. Public business entity that is a U.S. Securities and Exchange Commission filer should adopt the amendments in this ASU for its annual or any interim goodwill impairment test in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently evaluating the impact of the adoption of ASU 2017-04 on our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). Financial Instruments—Credit Losses (Topic 326) amends guideline on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact of the adoption of ASU 2016-13 on our consolidated financial statements.

Organization and Principal Ac_2

Organization and Principal Activities (Tables)	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Showing China Finance Online's Significant Subsidiaries, VIEs and VIEs' Subsidiaries	Company name Place of incorporation or establishment Date of incorporation or acquisition Legal ownership interest Principal activity Subsidiaries: China Finance Online (Beijing) Co., Ltd. (“CFO Beijing”) Beijing, PRC Jul. 9, 1998 100% N/A Fortune Software (Beijing) Co., Ltd. (“CFO Software”) Beijing, PRC Dec. 7, 2004 100% N/A Shenzhen Genius Information Technology Co., Ltd. (“CFO Genius”) Shenzhen, PRC Sep. 21, 2006 100% Subscription service Zhengyong Information & Technology (Shanghai) Co., Ltd. (“CFO Zhengyong”) Shanghai, PRC Aug. 17, 2008 100% N/A Zhengtong Information Technology (Shanghai) Co., Ltd (“CFO Zhengtong”) Shanghai, PRC Jun. 24, 2008 100% N/A Rifa Financial Holdings Limited (“Rifa Financial Holdings”) (Formerly known as “iSTAR Financial Holdings Limited”) BVI Jul. 16, 2007 85% Investment holdings Rifa Securities Limited (“Rifa Securities”) (Formerly known as “iSTAR International Securities Co. Limited”) Hong Kong, PRC Nov. 23, 2007 85% Brokerage service Rifa Futures Limited (“Rifa Futures”) (Formerly known as “iSTAR International Futures Co. Limited”) Hong Kong, PRC Apr. 16, 2008 85% Brokerage service Rifa Asset Management Limited (“Rifa Asset Management”) Hong Kong, PRC Nov. 15, 2016 85% Asset management service Rifa Credit Limited (“Rifa Credit”) (Formerly known as “iSTAR International Credit Co. Limited”) Hong Kong, PRC Feb. 10, 2012 85% N/A Rifa Wealth Management Co. Limited (“Rifa Wealth Management”) Hong Kong, PRC Sep. 13, 2016 85% Insurance brokerage service Variable interest entities: Beijing Fuhua Innovation Technology Development Co., Ltd. (“CFO Fuhua”) Beijing, PRC Dec. 31, 2000 Nil Web portal and advertising service Shenzhen Newrand Securities Advisory and Investment Co., Ltd. (“CFO Newrand”) Shenzhen, PRC Oct. 17, 2008 Nil Securities investment advising Shanghai Stockstar Wealth Management Co., Ltd. (“Stockstar Wealth Management”) Shanghai, PRC Apr. 12, 2011 Nil N/A Beijing Huizhi Fortune Technology Co., Ltd. (“CFO Huizhi”) Beijing, PRC Jun. 14, 2012 Nil N/A Shenzhen Ganlanren Investment Management Co., Ltd. (“CFO Shenzhen Ganlanren”) Shenzhen, PRC Feb. 18, 2016 Nil N/A Beijing CFO Premium Technology Co., Ltd. (“CFO Premium”). Beijing, PRC June 2, 2009 Nil N/A Beijing CFO Glory Technology Co., Ltd. Beijing, PRC Sep. 11, 2007 Nil N/A Subsidiaries of variable interest entities: Shenzhen Newrand Securities Training Center (“CFO Newrand Training”) Shenzhen, PRC Oct. 17, 2008 Nil Securities investment training Fortune (Beijing) Huiying Investment Consulting Co., Ltd. (“CFO Huiying”) Beijing, PRC Dec. 18, 2009 Nil N/A Shenzhen Tahoe Investment and Development Co., Ltd (“CFO Tahoe”) Shenzhen, PRC Sep. 30, 2013 Nil N/A Zhengjin (Tianjin) Precious Metals Investment Co., Ltd. (“CFO Zhengjin Tianjin”) Tianjin, PRC Jul. 23, 2013 Nil Commodities brokerage Beijing Jiayi Management Co., Ltd. (“CFO Zhengjin Beijing”) Beijing, PRC Jan. 13, 2014 Nil Commodities brokerage Yinglibao (Beijing) Technology Co., Ltd. (“CFO Yinglibao”) Beijing, PRC Jan. 15, 2014 Nil Internet-based financial platform Zhengjin (Jiangsu) Precious Metals Co., Ltd. (“CFO Zhengjin Jiangsu”) Nanjing, PRC Nov. 19, 2014 Nil Commodities brokerage Zhengjin (Fujian) Precious Metals Co., Ltd. (“CFO Zhengjin Fujian”) Fujian, PRC Jan. 6, 2013 Nil Commodities brokerage Qingdao Zhengjin Zhida Trading Co., Ltd. (“CFO Qingdao Zhida”) Qingdao, PRC Dec. 21, 2015 Nil Commodities brokerage Tibet Lieqian Network Technology Co., Ltd. Tibet, PRC Mar. 18, 2016 Nil Commodities brokerage Qingdao Zhengjin Taiji Trading Co., Ltd. (“CFO Qingdao Taiji”) Qingdao, PRC Mar. 23, 2016 Nil Commodities brokerage iTougu (Beijing) Network Technology Co., Ltd. (“CFO iTougu”) Beijing, PRC Dec. 8, 2014 Nil Investment advisory service platform Beijing Zhongjun Sunshine Investment and Management Co., Ltd (“CFO Zhongjun Sunshine”) Beijing, PRC Sep. 30, 2013 Nil Financial service Zhongheng Xintai (Beijing) Asset Management Co., Ltd. (“CFO Zhongheng Xintai”) Beijing, PRC Jun. 8, 2016 Nil N/A Beijing Zhengjin Wealth Management Co., Ltd. Beijing, PRC Dec. 24, 2004 Nil Commodities brokerage Shenzhen Rifa Commercial Factoring Co. Ltd. Shenzhen, PRC Oct. 20, 2016 Nil Financial service Shanghai Stockstar Information & Technology Co., Ltd. Shanghai, PRC Dec. 24, 2009 Nil N/A Shanghai Shangtong Co., Ltd. Shanghai, PRC Jun. 6, 2008 Nil N/A Shanghai Ganlan Wealth Asset Management Co., Ltd. Shanghai, PRC Dec. 19, 2014 Nil N/A Beijing Chuangying Advisory and Investment Co., Ltd. ("CFO Chuangying") Beijing, PRC Oct. 9, 1997 Nil P2P Lending Service Shanghai Chongzhi Co., Ltd. Shanghai, PRC Jun. 6, 2008 Nil N/A Tibet Fortune Jinyuan Network Technology Co., Ltd. Tibet, PRC Aug. 22, 2015 Nil N/A
Schedule of Significant VIEs and Counterparts	VIE name Contractual arrangement date Counterpart CFO Fuhua May 27, 2004 CFO Beijing CFO Newrand July 11, 2018 CFO Software Stockstar Wealth Management April 12, 2011 CFO Zhengtong CFO Shenzhen Ganlanren April 20, 2017 CFO Software Beijing CFO Premium Technology June 2, 2009 CFO Software
Schedule of Financial Statement Amounts and Balances of VIEs	December 31, 2018 2019 Assets Current assets: Cash and cash equivalents $ 1,254,459 $ 479,309 Accounts receivable – others, net 1,758,057 1,384,102 Others 8,390,567 3,385,334 Total current assets 11,403,083 5,248,745 Property and equipment, net 2,448,148 1,601,260 Equity investments without readily determinable fair value 1,631,892 1,605,459 Equity method investment, net 778,721 766,583 Rental deposits 590,284 451,975 Investment in subsidiaries 41,631,407 38,597,614 Deferred tax assets 1,292,263 1,238,319 Right-of-use assets — 2,630,373 Total assets $ 59,775,798 $ 52,140,328 Third-party liabilities: Current liabilities: Accrued expenses and other current liabilities $ 16,561,794 $ 16,886,760 Accounts payable 189,082 184,720 Total current liabilities 16,750,876 17,071,480 Non-current liabilities 3,197 741,269 Total third-party liabilities $ 16,754,073 $ 17,812,749 Inter-company liabilities (assets) $ (9,782,857 ) $ (9,272,913 ) Year ended December 31, 2017 2018 2019 Net revenues $ 19,556,988 $ 24,747,244 $ 17,497,599 Net loss $ (35,738,587 ) $ (10,013,159 ) $ (7,098,995 ) Year ended December 31, 2017 2018 2019 Net cash used in operating activities $ (27,938,791 ) $ (8,265,834 ) $ (841,958 ) Net cash (used in) provided by investing activities 16,669,443 (69,989 ) (1,650 ) Net cash used in financing activities (19,083,181 ) — — Effect of exchange rate changes $ (3,470,414 ) $ (621,698 ) $ 68,458

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of Property and Equipment, Net Estimated Useful Lives	Property and equipment, net are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives: Technology infrastructure 5 years Computer equipment 5 years Furniture, fixtures and equipment 5 years Motor vehicle 5 years Leasehold improvements Shorter of the lease term or 5 years
Schedule of Acquired Intangible Assets, Net Estimated Average Useful Lives	Amortization of definite-lived intangible assets is computed using the straight-line method over the estimated average useful lives, which are as follows: License and related trademarks 10-15 years Completed technology 5 years Customer relationship 4-5 years
Schedule of Revenue Recognition, Net	The following table presents the totally recognized net revenue from commodities trading business, consisted of: Years ended December 31, 2018 2019 Commodities trading gain (loss) $ (9,864 ) $ — Commission income 59,824 — Carrying charges — — $ 49,960 $ —
Schedule of Exchange Rates Used in Translation	Translations of amounts from RMB and HK$ into U.S. dollars were made at the following exchange rates for the respective dates and periods: At December 31, 2017 2018 2019 Consolidated balance sheets: RMB to $1.00 6.5342 6.8632 6.9762 HKD to $1.00 7.8170 7.8329 7.7877 Consolidated statements of operations and comprehensive income: RMB to $1.00 6.7518 6.6174 6.8985 HKD to $1.00 7.7930 7.8380 7.8346
Schedule of Accounts Receivable by Customers	Details of clients accounting for 10% or more of accounts receivable are as follows: Year ended December 31, 2018 2019 Amount % Amount % A * * $ 5,262,041 20.4 %

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Schedule of Accounts Receivable	December 31, 2018 2019 Accounts receivable-margin clients $ 17,900,557 $ 14,605,104 Less: Allowance for doubtful accounts (149,523 ) (1,153,521 ) Accounts receivable- margin clients, net $ 17,751,034 $ 13,451,583 Accounts receivable-others 7,105,317 12,616,609 Less: Allowance for doubtful accounts (3,407 ) (234,439 ) Accounts receivable-others, net $ 7,101,910 $ 12,382,170

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following: December 31, 2018 2019 Prepayment of advertising fees $ 18,944 $ 10,105 Advances to suppliers 1,125,187 1,018,164 VAT refund receivable 308,532 222,847 Interest receivable 44,726 24,908 Prepayment of office rental 81,239 47,845 Advances to employees 418,271 397,885 Advances to consulting service fees 17,773 153,444 Consideration receivable 77,300 77,749 Other current assets 317,323 459,994 $ 2,409,295 $ 2,412,941

Short-Term Investments (Tables)

Short-Term Investments (Tables)	12 Months Ended
	Dec. 31, 2019
Short Term Investments [Abstract]
Schedule of Changes in Level 2 Available-for-Sale Securities Measured on a Recurring Basis	The following table presents changes in level 2 available-for-sale securities measured on a recurring basis for the twelve-month period ended December 31, 2018 and 2019, respectively: December 31, 2018 2019 Beginning balance $ 532,912 $ — Purchases 8,995,273 10,091,454 Redemption (9,437,363 ) (8,956,178 ) Realized gain(loss) (72,755 ) 11,743 Exchange difference (18,067 ) (263 ) Ending balance $ — $ 1,146,756
Schedule of Realized Gains of Sale of Available-For-Sale Short-Term Investments	The following table provides additional information on the realized gains of the sale of available-for-sale short-term investments as of December 31, 2018 and 2019, respectively. For purposes of determining gross realized gains, the cost of short-term investments sold is based on specific identification. Year ended December 31, 2019 Exchange Proceeds Costs Gains difference Available-for-sale short-term investments $ (8,956,178 ) $ 10,091,454 $ 11,743 $ (263 ) Total $ (8,956,178 ) $ 10,091,454 $ 11,743 $ (263 ) Year ended December 31, 2018 Exchange Proceeds Costs Gains difference Available-for-sale short-term investments $ (9,437,363 ) $ 8,995,273 $ (72,755 ) $ (18,067 ) Total $ (9,437,363 ) $ 8,995,273 $ (72,755 ) $ (18,067 )

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Measured or Disclosed at Fair Value on Recurring Basis	The following table summarizes the Company’s financial assets measured or disclosed at fair value on a recurring basis. Fair value disclosure or measurement at December 31, 2019 using Fair value at December 31, 2019 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Fair value disclosure Cash and cash equivalents: $ 9,599,824 $ 9,599,824 Fair value measurement Short-term investments: Available-for-sale short-term investments $ 1,146,756 $ 1,146,756 Total assets measured at fair value $ 1,146,756 $ 1,146,756 Fair value disclosure or measurement at December 31, 2018 using Fair value at December 31, 2018 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Fair value disclosure Cash and cash equivalents: Cash and cash equivalents $ 12,493,135 $ 12,493,135 Fair value measurement Short-term investments: Available-for-sale short-term investments — — Total assets measured at fair value — —
Schedule of Level 2 Available-for-Sale Securities Measured on Recurring Basis	The Company’s available-for-sale short-term investments as of December 31, 2019 mainly consists of wealth management products purchased from banks. The Company values these wealth management products using alternative pricing sources and models utilizing market observable inputs, and accordingly the Company classifies the valuation techniques that use these inputs as Level 2. The following table presents changes of available-for-sale short-term investments measured on a recurring basis for the twelve-month period ended December 31, 2018 and 2019, respectively: December 31, 2018 2019 Beginning balance $ 532,912 $ — Purchases 8,995,273 10,091,454 Redemption (9,437,363 ) (8,956,178 ) Realized gain (loss) (72,755 ) 11,743 Exchange difference (18,067 ) (263 ) Ending balance $ — $ 1,146,756
Schedule of Fair Value Disclosed or Measured on Non-Recurring Basis	The Company's goodwill and intangible assets are primarily acquired through business acquisitions. The fair value for goodwill and acquired intangibles assets measured at fair value on a nonrecurring basis was categorized as Level 3 due to the use of significant unobservable inputs in the valuation. Fair value at December 31, 2018 Total losses in the year ended December 31, 2018 Fair value at December 31, 2019 Total losses in the year ended December 31, 2019 Non-Recurring Goodwill 107,791 — 108,416 — Intangible Assets 85,154 — 74,477 — The goodwill impairment test is further discussed in Note 2.

Equity Investments Without Re_2

Equity Investments Without Readily Determinable Fair Value (Tables)	12 Months Ended
	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Schedule of Equity investments without Readily Determinable Fair Value Investment	December 31, 2018 2019 Beginning balance $ 1,714,058 $ 1,631,892 Acquisitions — — Observable price changes — — Exchange difference (82,166 ) (26,433 ) Ending balance $ 1,631,892 $ 1,605,459

Equity Method Investment (Table

Equity Method Investment (Tables)	12 Months Ended
	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Summary of Changes In Equity Method Investment	The following table presents changes in equity method investment for the twelve-month period ended December 31, 2018 and 2019, respectively: December 31, 2018 2019 Beginning balance $ 817,223 $ 778,721 Equity method investment income 470 391 Consideration Received on Disposal — — Exchange difference (38,972 ) (12,529 ) Ending balance $ 778,721 $ 766,583

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of: December 31, 2018 2019 Technology infrastructure $ 10,730,756 $ 9,857,786 Computer equipment 1,886,170 1,778,945 Furniture, fixtures and equipment 3,383,846 4,206,010 Motor vehicle 1,033,864 1,017,117 Leasehold improvements 4,219,050 3,577,145 21,253,686 20,437,003 Less: accumulated depreciation (16,794,352 ) (16,165,270 ) $ 4,459,334 $ 4,271,733

Acquired Intangible Assets, N_2

Acquired Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Intangible Assets Net Excluding Goodwill Abstract
Schedule of Intangible Assets	December, 31 2018 2019 Gross carrying amount Accumulated amortization Impairment Net carrying amount Gross carrying amount Accumulated amortization Impairment Net carrying amount PIBA license 111,070 (25,916 ) — 85,154 111,715 (37,238 ) — 74,477 111,070 (25,916 ) — 85,154 111,715 (37,238 ) — 74,477

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	Changes in goodwill for the years ended December 31, 2017, 2018 and 2019 were as follows: Commodities brokerage Investment advisory services Institution subscription services Hong Kong brokerage services Total Balance as of December 31, 2017 $ — $ — $ — $ 108,010 $ 108,010 Exchange difference — — — (219 ) (219 ) Balance as of December 31, 2018 $ — $ — $ — $ 107,791 $ 107,791 Exchange difference — — — 625 625 Balance as of December 31, 2019 $ — $ — $ — $ 108,416 $ 108,416

Accounts Payable (Tables)

Accounts Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Accounts Payable Current [Abstract]
Schedule of Accounts Payable	Accounts payable consist of: December 31, 2018 2019 Amount due to customers of Hong Kong brokerage business $ 2,748,745 $ 6,552,742 Amount due to sales agents 114,408 112,555 Others 84,053 75,884 $ 2,947,206 $ 6,741,181

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Accrued Expenses And Other Current Liabilities [Abstract]
Schedule of Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities consist of: December 31, 2018 2019 Accrued bonus $ 1,889,145 $ 1,063,891 Accrued professional service fees 450,015 558,752 Withholding individual income tax-option exercise 36,696 215,945 Value added taxes and other taxes payable (20,502 ) 375,548 Accrued raw data cost 470,664 651,633 Accrued bandwidth cost 180,151 (24,970 ) Accrued welfare benefits 69,306 64,167 Deposit payable (i) 1,384,194 — Funds received from third party investors (ii) 4,468,798 9,415,798 Accrued sales service fees 272,849 81,623 Others 2,526,919 5,017,526 $ 11,728,235 $ 17,419,913

Stock Options and Nonvested S_2

Stock Options and Nonvested Shares (Tables)	12 Months Ended
	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Stock Option Activity	A summary of the stock option activity is as follows: 2017 2018 2019 Weighted Weighted Weighted Number average Number average Number average of options exercise price of options exercise price of options exercise price Outstanding at beginning of year 16,180,260 $ 0.53 13,677,960 $ 0.46 13,202,200 $ 0.43 Exercised (107,200 ) 0.25 (2,400 ) 0.25 (20,000 ) 0.25 Forfeited (2,395,100 ) 0.98 (473,360 ) 1.16 (22,000 ) 1.43 Outstanding at end of year 13,677,960 $ 0.46 13,202,200 $ 0.43 13,160,200 $ 0.43 Shares exercisable at end of year 13,677,960 $ 0.46 13,202,200 $ 0.43 13,160,200 $ 0.43
Schedule of Information with Respect to Stock Options Outstanding	The following table summarizes information with respect to stock options outstanding at December 31, 2019: Options outstanding Option exercisable Stock option with exercise price of: Number outstanding Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value as of December 31, 2019 Number exercisable Weighted average exercise price Aggregate intrinsic value as of December 31, 2019 $ 1.43 2,012,500 2,012,500 $ 0.25 11,147,700 11,147,700 13,160,200 3.01 $ 0.43 $ — 13,160,200 $ 0.43 $ —
2014 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Stock Option Activity	A summary of the stock option activity is as follows: 2017 2018 2019 Weighted Weighted Weighted Number average Number average Number average of options exercise price of options exercise price of options exercise price Outstanding at beginning of year 1,105,000 $ 0.87 3,755,000 $ 0.49 3,675,000 $ 0.48 Granted 2,690,000 0.34 280,000 0.43 — — Exercised — — — — — — Forfeited (40,000 ) 0.89 (360,000 ) 0.62 (200,000 ) 0.72 Outstanding at end of year 3,755,000 $ 0.49 3,675,000 $ 0.48 3,475,000 $ 0.46 Shares exercisable at end of year 1,045,800 $ 0.88 1,877,000 $ 0.59 2,529,000 $ 0.49
Schedule of Information with Respect to Stock Options Outstanding	The following table summarizes information with respect to stock options outstanding at December 31, 2019: Options outstanding Option exercisable Stock option with exercise price of: Number outstanding Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value as of December 31, 2019 Number exercisable Weighted average exercise price Aggregate intrinsic value as of December 31, 2019 $ 0.878 585,000 585,000 $ 0.920 40,000 40,000 $ 1.032 — — $ 1.038 — — $ 0.870 120,000 120,000 $ 0.302 880,000 668,800 $ 0.348 1,640,000 1,115,200 $ 0.434 210,000 — 3,475,000 5.38 $ 0.46 — 2,529,000 $ 0.49 —
Schedule of Fair Value of Employee Options Estimated on the Basis of Black-Scholes Option Price Model	The fair value of employee options was estimated on the basis of the Black-Scholes Option Price model with the following assumptions: Years ended December 31, 2017 2018 2019 Weighted average risk free rate of return 1.88% - 2.13% 2.52% — Weighted average expected option life 7.36 – 7.38 years 7.34 years — Expected volatility rate 73.31% - 74.76% 76.44% — Dividend yield — — —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Tax Preferential Policies	A summary of the main PRC entities that subject to tax preferential policies for the year ended December 31, 2019 is as follows: PRC entities Chinese EIT rate Qualification for preferential tax rate CFO Genius Preferential tax rate of 15% from 2018 to 2020. HNTE CFO Tibet Preferential tax rate of 9% from 2015 to 2017 and 15% thereafter Preferential tax rate for enterprises in Tibet, China Tibet Lieqian Network Technology Co., Ltd Preferential tax rate of 15% from 2018 and thereafter Preferential tax rate for enterprises in Tibet, China
Schedule of Income Tax Expense	Income tax expense was as follows: December 31, 2017 2018 2019 Current $ (578,367 ) $ (169,033 ) $ (144,087 ) Deferred 253,951 116,254 (72,770 ) Total $ (324,416 ) $ (52,779 ) $ (216,857 )
Schedule of Principal Components of Deferred Income Taxes	The principal components of deferred income taxes were as follows: December 31, 2018 2019 Deferred tax assets: Deferred revenue $ 1,220,370 $ 1,307,149 Accrued expenses and other liabilities 246,452 73,693 Net operating loss carrying forwards 26,418,044 27,126,541 27,884,866 28,507,383 Less: valuation allowance (26,412,260 ) (27,126,541 ) Total deferred tax assets $ 1,472,606 $ 1,380,842 Deferred tax liabilities: Account receivable and other assets (14,632 ) (1,922 ) Intangible assets (14,050 ) (12,289 ) Total deferred tax liabilities $ (28,682 ) $ (14,211 )
Schedule of Reconciliation Between Total Income Tax Expense	Reconciliation between total income tax expense and the amount computed by applying the PRC EIT statutory rate to income before income taxes is as follows: Years ended December 31, 2017 2018 2019 Loss before tax $ (42,064,021 ) $ (22,417,716 ) $ (12,526,891 ) Income tax benefits calculated at 25% (10,516,005 ) (5,604,429 ) (3,131,723 ) Effect of PRC preferential tax rates and tax holiday 2,678,633 11,750 (49,582 ) Effect of income tax rate difference in other jurisdictions (267,503 ) (652,330 ) 71,057 Non-deductible expenses 7,650,137 2,014,345 886,418 Non-taxable income (8,934,794 ) (929,875 ) (353,790 ) Change in valuation allowance 8,505,113 1,612,806 714,281 Expiration of NOL 1,208,835 3,600,512 2,080,196 Income tax expense $ 324,416 $ 52,779 $ 216,857

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Income (Loss) Per Share	The following table sets forth the computation of basic and diluted income (loss) per share for the years indicated: Years ended December 31, 2017 2018 2019 Net loss attributable to China Finance Online Co. Limited $ (36,736,553 ) $ (19,950,120 ) $ (11,262,821 ) Weighted average ordinary shares outstanding used in computing basic net loss per share 113,601,949 113,883,030 114,687,282 Plus: Incremental shares from assumed conversions of stock options, restricted shares and nonvested shares — — — Weighted average ordinary shares outstanding used in computing diluted net loss per share 113,601,949 113,883,030 114,687,282 Net loss per share attributable to China Finance Online Co. Limited - basic $ (0.32 ) $ (0.18 ) $ (0.10 ) - diluted $ (0.32 ) $ (0.18 ) $ (0.10 )

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2019
Noncontrolling Interest [Abstract]
Schedule of Noncontrolling Interests	Commodities brokerage Services Investment Advisory services Institution Subscription services Rifa Financial Holdings Brokerage services Other Total Balance as of January 1, 2017 $ (4,524,931 ) $ — $ — $ 155,057 — $ (4,369,874 ) Dividends paid to noncontrolling shareholders — — — — — — Changes in controlling ownership interest — — — — — — Deconsolidation 809,692 — — — — 809,692 Share-based compensation (Note 15) 876,995 — — — — 876,995 Net income (loss) (6,388,746 ) — — 736,862 — (5,651,884 ) Balance as of December 31, 2017 $ (9,226,990 ) $ — $ — $ 891,919 — $ (8,335,071 ) Dividends paid to noncontrolling interest — — — — — — Changes in controlling ownership interest — — — — — — Deconsolidation 1,216,007 — — — — 1,216,007 Share-based compensation (Note 15) 529,600 — — — — 529,600 Net income (loss) (3,249,840 ) — — 729,465 — (2,520,375 ) Balance as of December 31, 2018 $ (10,731,223 ) $ — $ — $ 1,621,384 — $ (9,109,839 ) Dividends paid to noncontrolling interest — — — — — — Changes in controlling ownership interest — — — — — — Deconsolidation 295,830 — — — — 295,830 Share-based compensation (Note 15) 267,076 — — — — 267,076 Net income (loss) (1,704,695 ) — — 223,768 — (1,480,927 ) Balance as of December 31, 2019 $ (11,873,012 ) $ — $ — $ 1,845,152 — $ (10,027,860 )

Leases and Contingencies (Table

Leases and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Schedule of Lease Costs	Lease costs were as follows: Year Ended December 31, 2019 Operating lease cost (i) $ 2,832,968 Total lease cost 2,832,968 (i) Excluding cost of short-term contracts. Short-term lease costs for year ended December 31, 2019 were $261,136.
Supplemental Cash Flow Information Related to Operating Leases.	Supplemental cash flow information related to operating leases for the year ended December 31, 2019 is as follows: December 31, 2019 Operating cash payment for operating leases $ 2,606,034 Weighted average remaining lease term on operating leases 1.20 years Weighted average discount rate on operating leases 4.95 %
Schedule of Future Minimum Payments under Non-cancelable Operating Leases	Future operating leases Year ending 2020 $ 2,350,404 2021 1,101,102 2022 377,082 2023 48,647 Total lease payments 3,877,235 Less: interest (187,150 ) Present value of lease payments $ 3,690,085

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Operations of Company's Operating Segments	The following tables show the operations of the Company’s operating segments: For the year ended December 31, 2019 Commodities brokerage services Subscription services and other related services Hong Kong brokerage services Consolidated Net revenues $ — $ 26,323,194 $ 15,802,418 $ 42,125,612 Less: intersegment sales — (6,603,751 ) (3,071 ) (6,606,822 ) Net revenues from external customer — 19,719,443 15,799,347 35,518,790 Cost of revenues — 5,348,329 7,839,764 13,188,093 Less: intersegment cost of revenues — (213,958 ) — (213,958 ) Cost of revenues after elimination — 5,134,371 7,839,764 12,974,135 Operating expenses: General and administrative 1,428,075 5,200,622 5,616,870 12,245,567 Product development 7,677 15,502,285 24,011 15,533,973 Sales and marketing 234,661 9,751,017 3,380,644 13,366,322 Total segments operating expenses 1,670,413 30,453,924 9,021,525 41,145,862 Less: intersegment operating expenses — (6,389,793 ) (61,860 ) (6,451,653 ) Total operating expenses 1,670,413 24,064,131 8,959,665 34,694,209 Income (loss) from operations $ (1,670,413 ) $ (9,479,059 ) $ (1,000,082 ) $ (12,149,554 ) Total segments assets 12,200,897 157,264,579 89,864,646 259,330,122 Less: intersegment asset. (11,703,363 ) (138,083,606 ) (20,378,627 ) (170,165,596 ) Total assets $ 497,534 $ 19,180,973 $ 69,486,019 $ 89,164,526 For the year ended December 31, 2018 Commodities brokerage services Subscription services and other related services Hong Kong brokerage services Consolidated Net revenues $ 49,960 $ 34,498,830 $ 22,440,556 $ 56,989,346 Less: intersegment sales — (11,414,814 ) (96,606 ) (11,511,420 ) Net revenues from external customer 49,960 23,084,016 22,343,950 45,477,926 Cost of revenues 2,813 6,249,529 11,212,825 17,465,167 Less: intersegment cost of revenues — (623,252 ) — (623,252 ) Cost of revenues after elimination 2,813 5,626,277 11,212,825 16,841,915 Operating expenses: General and administrative 3,174,478 7,022,338 4,200,746 14,397,562 Product development 277,353 24,394,373 44,295 24,716,021 Sales and marketing 929,411 17,574,405 3,656,372 22,160,188 Total segments operating expenses 4,381,242 48,991,116 7,901,413 61,273,771 Less: intersegment operating expenses — (10,791,561 ) (238,109 ) (11,029,670 ) Total operating expenses 4,381,242 38,199,555 7,663,304 50,244,101 Income (loss) from operations $ (4,334,095 ) $ (20,741,816 ) $ 3,467,821 $ (21,608,090 ) Total segments assets 13,201,206 156,883,869 76,292,657 246,377,732 Less: intersegment asset. (12,624,577 ) (133,070,873 ) (19,992,932 ) (165,688,382 ) Total assets $ 576,629 $ 23,812,996 $ 56,299,725 $ 80,689,350 For the year ended December 31, 2017 Commodities brokerage services Subscription services and other related services Hong Kong brokerage services Consolidated Net revenues $ 3,698,857 $ 23,984,993 $ 25,497,974 $ 53,181,824 Less: intersegment sales (1,110,431 ) (9,232,502 ) (216,241 ) (10,559,174 ) Net revenues from external customer 2,588,426 14,752,491 25,281,733 42,622,650 Cost of revenues (60,504 ) 7,453,185 14,540,997 21,933,678 Less: intersegment cost of revenues — — — — Cost of revenues after elimination (60,504 ) 7,453,185 14,540,997 21,933,678 Operating expenses: General and administrative 4,511,167 7,565,268 3,930,479 16,006,914 Product development 1,776,007 23,502,362 — 25,278,369 Sales and marketing 11,115,488 16,830,525 2,933,763 30,879,776 Loss from impairment of intangible assets — 291,817 — 291,817 Total segments operating expenses 17,402,662 48,189,972 6,864,242 72,456,876 Less: intersegment operating expenses (1,110,431 ) (9,439,947 ) (689,002 ) (11,239,380 ) Total operating expenses 16,292,231 38,750,025 6,175,240 61,217,496 Government subsidies 230,174 — — 230,174 Income (loss) from operations $ (13,413,127 ) $ (31,450,719 ) $ 4,565,496 $ (40,298,350 ) Total segments assets 21,569,350 187,122,375 89,004,771 297,696,496 Less: intersegment asset. (13,995,983 ) (149,214,015 ) (19,882,645 ) (183,092,643 ) Total assets $ 7,573,367 $ 37,908,360 $ 69,122,126 $ 114,603,853
Schedule of Revenue From External Customers	The Company derives revenue from external customers for each of the following services during the years presented: Years ended December 31, 2017 2018 2019 Commodities brokerage services revenues $ 2,588,426 $ 49,960 $ — Financial information and advisory services revenues 10,271,822 14,891,267 10,674,164 Advertising revenues 3,588,499 7,312,947 8,310,150 Hong Kong brokerage services revenues 25,281,733 22,343,950 15,799,347 Others 892,170 879,802 735,129 Total revenue from external customers $ 42,622,650 $ 45,477,926 $ 35,518,790

Organization and Principal Ac_3

Organization and Principal Activities - Schedule of Showing China Finance Online's Significant Subsidiaries, VIEs and VIEs' Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2019
Beijing Fuhua Innovation Technology Development Co., Ltd. ("CFO Fuhua") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Dec. 31, 2000
Legal ownership interest	0.00%
Principal activity	Web portal and advertising service
Shenzhen Newrand Securities Advisory and Investment Co., Ltd. ("CFO Newrand") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shenzhen, PRC
Date of incorporation or acquisition	Oct. 17, 2008
Legal ownership interest	0.00%
Principal activity	Securities investment advising
Shanghai Stockstar Wealth Management Co., Ltd. ("Stockstar Wealth Management") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shanghai, PRC
Date of incorporation or acquisition	Apr. 12, 2011
Legal ownership interest	0.00%
Principal activity	N/A
Beijing Huizhi Fortune Technology Co., Ltd. ("CFO Huizhi") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Jun. 14, 2012
Legal ownership interest	0.00%
Principal activity	N/A
Shenzhen Ganlanren Investment Management Co., Ltd. ("CFO Shenzhen Ganlanren") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shenzhen, PRC
Date of incorporation or acquisition	Feb. 18, 2016
Legal ownership interest	0.00%
Principal activity	N/A
Beijing CFO Premium Technology Co., Ltd. ("CFO Premium") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Jun. 2, 2009
Legal ownership interest	0.00%
Principal activity	N/A
Beijing CFO Glory Technology Co., Ltd. | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Sep. 11, 2007
Principal activity	N/A
Shenzhen Newrand Securities Training Center ("CFO Newrand Training") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shenzhen, PRC
Date of incorporation or acquisition	Oct. 17, 2008
Legal ownership interest	0.00%
Principal activity	Securities investment training
Fortune (Beijing) Huiying Investment Consulting Co., Ltd. ("CFO Huiying") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Dec. 18, 2009
Legal ownership interest	0.00%
Principal activity	N/A
Shenzhen Tahoe Investment and Development Co., Ltd ("CFO Tahoe") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shenzhen, PRC
Date of incorporation or acquisition	Sep. 30, 2013
Legal ownership interest	0.00%
Principal activity	N/A
Zhengjin (Tianjin) Precious Metals Investment Co., Ltd. ("CFO Zhengjin Tianjin") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Tianjin, PRC
Date of incorporation or acquisition	Jul. 23, 2013
Legal ownership interest	0.00%
Principal activity	Commodities brokerage
Beijing Jiayi Management Co., Ltd. ("CFO Zhengjin Beijing") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Jan. 13, 2014
Legal ownership interest	0.00%
Principal activity	Commodities brokerage
Yinglibao (Beijing) Technology Co., Ltd. ("CFO Yinglibao") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Jan. 15, 2014
Legal ownership interest	0.00%
Principal activity	Internet-based financial platform
Zhengjin (Jiangsu) Precious Metals Co., Ltd. ("CFO Zhengjin Jiangsu") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Nanjing, PRC
Date of incorporation or acquisition	Nov. 19, 2014
Legal ownership interest	0.00%
Principal activity	Commodities brokerage
Zhengjin (Fujian) Precious Metals Co., Ltd. ("CFO Zhengjin Fujian") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Fujian, PRC
Date of incorporation or acquisition	Jan. 6, 2013
Legal ownership interest	0.00%
Principal activity	Commodities brokerage
Qingdao Zhengjin Zhida Trading Co., Ltd. ("CFO Qingdao Zhida") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Qingdao, PRC
Date of incorporation or acquisition	Dec. 21, 2015
Legal ownership interest	0.00%
Principal activity	Commodities brokerage
Tibet Lieqian Network Technology Co., Ltd | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Tibet, PRC
Date of incorporation or acquisition	Mar. 18, 2016
Legal ownership interest	0.00%
Principal activity	Commodities brokerage
Qingdao Zhengjin Taiji Trading Co., Ltd. ("CFO Qingdao Taiji") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Qingdao, PRC
Date of incorporation or acquisition	Mar. 23, 2016
Legal ownership interest	0.00%
Principal activity	Commodities brokerage
iTougu (Beijing) Network Technology Co., Ltd. ("CFO iTougu") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Dec. 8, 2014
Legal ownership interest	0.00%
Principal activity	Investment advisory service platform
Beijing Zhongjun Sunshine Investment and Management Co., Ltd ("CFO Zhongjun Sunshine") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Sep. 30, 2013
Legal ownership interest	0.00%
Principal activity	Financial service
Zhongheng Xintai (Beijing) Asset Management Co., Ltd. ("CFO Zhongheng Xintai") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Jun. 8, 2016
Legal ownership interest	0.00%
Principal activity	N/A
Beijing Zhengjin Wealth Management Co., Ltd. | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Dec. 24, 2004
Principal activity	Commodities brokerage
Shenzhen Rifa Commercial Factoring Co. Ltd. | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shenzhen, PRC
Date of incorporation or acquisition	Oct. 20, 2016
Principal activity	Financial service
Shanghai Stockstar Information & Technology Co., Ltd. | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shanghai, PRC
Date of incorporation or acquisition	Dec. 24, 2009
Principal activity	N/A
Shanghai Shangtong Co., Ltd. | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shanghai, PRC
Date of incorporation or acquisition	Jun. 6, 2008
Principal activity	N/A
Shanghai Ganlan Wealth Asset Management Co., Ltd. | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shanghai, PRC
Date of incorporation or acquisition	Dec. 19, 2014
Principal activity	N/A
Beijing Chuangying Advisory and Investment Co., Ltd. ("CFO Chuangying") | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Oct. 9, 1997
Legal ownership interest	0.00%
Principal activity	P2P Lending Service
Shanghai Chongzhi Co., Ltd. | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shanghai, PRC
Date of incorporation or acquisition	Jun. 6, 2008
Principal activity	N/A
Tibet Fortune Jinyuan Network Technology Co., Ltd. | VIEs
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Tibet, PRC
Date of incorporation or acquisition	Aug. 22, 2015
Principal activity	N/A
China Finance Online (Beijing) Co., Ltd. ("CFO Beijing")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Jul. 9, 1998
Legal ownership interest	100.00%
Principal activity	N/A
Fortune Software (Beijing) Co., Ltd. ("CFO Software")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Beijing, PRC
Date of incorporation or acquisition	Dec. 7, 2004
Legal ownership interest	100.00%
Principal activity	N/A
Shenzhen Genius Information Technology Co., Ltd. ("CFO Genius")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shenzhen, PRC
Date of incorporation or acquisition	Sep. 21, 2006
Legal ownership interest	100.00%
Principal activity	Subscription service
Zhengyong Information & Technology (Shanghai) Co., Ltd. ("CFO Zhengyong")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shanghai, PRC
Date of incorporation or acquisition	Aug. 17, 2008
Legal ownership interest	100.00%
Principal activity	N/A
Zhengtong Information Technology (Shanghai) Co., Ltd ("CFO Zhengtong")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Shanghai, PRC
Date of incorporation or acquisition	Jun. 24, 2008
Legal ownership interest	100.00%
Principal activity	N/A
Rifa Financial Holdings Limited ("Rifa Financial Holdings") (Formerly known as "iSTAR Financial Holdings Limited")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	BVI
Date of incorporation or acquisition	Jul. 16, 2007
Legal ownership interest	85.00%
Principal activity	Investment holdings
Rifa Securities Limited ("Rifa Securities") (Formerly known as "iSTAR International Securities Co. Limited")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Hong Kong, PRC
Date of incorporation or acquisition	Nov. 23, 2007
Legal ownership interest	85.00%
Principal activity	Brokerage service
Rifa Futures Limited ("Rifa Futures") (Formerly known as "iSTAR International Futures Co. Limited")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Hong Kong, PRC
Date of incorporation or acquisition	Apr. 16, 2008
Legal ownership interest	85.00%
Principal activity	Brokerage service
Rifa Asset Management Limited (“Rifa Asset Management”)
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Hong Kong, PRC
Date of incorporation or acquisition	Nov. 15, 2016
Legal ownership interest	85.00%
Principal activity	Asset management service
Rifa Credit Limited ("Rifa Credit") (Formerly known as "iSTAR International Credit Co. Limited")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Hong Kong, PRC
Date of incorporation or acquisition	Feb. 10, 2012
Legal ownership interest	85.00%
Principal activity	N/A
Rifa Wealth Management Co. Limited ("Rifa Wealth Management")
Condensed Financial Statements Captions [Line Items]
Place of incorporation or establishment	Hong Kong, PRC
Date of incorporation or acquisition	Sep. 13, 2016
Legal ownership interest	85.00%
Principal activity	Insurance brokerage service

Organization and Principal Ac_4

Organization and Principal Activities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Organization And Principal Activities [Line Items]
Net loss	$ (12,743,748)	$ (22,470,495)	$ (42,388,437)
Cash outflow from operating activities	5,191,746	32,714,475	26,904,911
Cash and cash equivalents	9,599,824	12,493,135	38,692,871
Overdue balance payable to third party investors	9,400,000
VIEs
Organization And Principal Activities [Line Items]
Consolidated assets as collateral for obligations	0
Cash outflow from operating activities	841,958	8,265,834	27,938,791
Cash and cash equivalents	479,309	1,254,459
VIEs | COVID-19
Organization And Principal Activities [Line Items]
Net loss	(12,700,000)	(22,500,000)	(42,400,000)
Cash outflow from operating activities	5,200,000	$ 32,700,000	$ 26,900,000
Working capital	3,600,000
Cash and cash equivalents	$ 9,600,000
Strategic Consulting Services Agreement
Organization And Principal Activities [Line Items]
Service agreement, term	20 years
VIE's income before tax	30.00%
Technical Support Services Agreement
Organization And Principal Activities [Line Items]
Service agreement, term	10 years
VIE's income before tax	30.00%
Operating Support Services Agreement
Organization And Principal Activities [Line Items]
Service agreement, term	10 years
VIE's income before tax	40.00%

Organization and Principal Ac_5

Organization and Principal Activities - Schedule of Significant VIEs and Counterparts (Details)	12 Months Ended
	Dec. 31, 2019
CFO Fuhua
Variable Interest Entity [Line Items]
Contractual arrangement date	May 27, 2004
Counterpart	CFO Beijing
CFO Newrand
Variable Interest Entity [Line Items]
Contractual arrangement date	July 11, 2018
Counterpart	CFO Software
Stockstar Wealth Management
Variable Interest Entity [Line Items]
Contractual arrangement date	April 12, 2011
Counterpart	CFO Zhengtong
CFO Shenzhen Ganlanren
Variable Interest Entity [Line Items]
Contractual arrangement date	April 20, 2017
Counterpart	CFO Software
Beijing CFO Premium Technology
Variable Interest Entity [Line Items]
Contractual arrangement date	June 2, 2009
Counterpart	CFO Software

Organization and Principal Ac_6

Organization and Principal Activities - Schedule of Financial Statement Amounts and Balances of VIEs - Balance Sheets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 9,599,824	$ 12,493,135	$ 38,692,871
Accounts receivable – others, net	12,382,170	7,101,910
Total current assets	75,980,758	70,973,244
Property and equipment, net	4,271,733	4,459,334
Equity investments without readily determinable fair value	1,605,459	1,631,892
Equity method investment, net	766,583	778,721	817,223
Deferred tax assets	1,380,842	1,472,606
Total assets	89,164,526	80,689,350	$ 114,603,853
Current liabilities:
Accrued expenses and other current liabilities	5,017,526	2,526,919
Total current liabilities	72,423,471	54,175,724
VIEs
Current assets:
Cash and cash equivalents	479,309	1,254,459
Accounts receivable – others, net	1,384,102	1,758,057
Others	3,385,334	8,390,567
Total current assets	5,248,745	11,403,083
Property and equipment, net	1,601,260	2,448,148
Equity investments without readily determinable fair value	1,605,459	1,631,892
Equity method investment, net	766,583	778,721
Rental deposits	451,975	590,284
Investment in subsidiaries	38,597,614	41,631,407
Deferred tax assets	1,238,319	1,292,263
Total assets	52,140,328	59,775,798
Right-of-use assets	2,630,373
Current liabilities:
Accrued expenses and other current liabilities	16,886,760	16,561,794
Accounts payable	184,720	189,082
Total current liabilities	17,071,480	16,750,876
Non-current liabilities	741,269	3,197
Total third-party liabilities	17,812,749	16,754,073
Inter-company liabilities (assets)	$ (9,272,913)	$ (9,782,857)

Organization and Principal Ac_7

Organization and Principal Activities - Schedule of Financial Statement Amounts and Balances of VIEs - Comprehensive Income ( (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Net revenues	$ 35,518,790	$ 45,477,926	$ 42,622,650
Net loss	(11,262,821)	(19,950,120)	(36,736,553)
VIEs
Variable Interest Entity [Line Items]
Net revenues	17,497,599	24,747,244	19,556,988
Net loss	$ (7,098,995)	$ (10,013,159)	$ (35,738,587)

Organization and Principal Ac_8

Organization and Principal Activities - Schedule of Financial Statement Amounts and Balances of VIEs - Cash Flow (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Net cash used in operating activities	$ (5,191,746)	$ (32,714,475)	$ (26,904,911)
Net cash (used in) provided by investing activities	(2,687,813)	106,411	15,832,444
Net cash used in financing activities	4,951,997	4,466,600	(19,056,395)
Effect of exchange rate changes	34,251	(93,906)	2,222,371
VIEs
Variable Interest Entity [Line Items]
Net cash used in operating activities	(841,958)	(8,265,834)	(27,938,791)
Net cash (used in) provided by investing activities	(1,650)	(69,989)	16,669,443
Net cash used in financing activities			(19,083,181)
Effect of exchange rate changes	$ 68,458	$ (621,698)	$ (3,470,414)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	Apr. 01, 2019	Mar. 31, 2019	May 01, 2018	Apr. 30, 2018	Sep. 01, 2012	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Summary of Significant Accounting Policies [Line Items]
Equity investments without readily determinable fair value						$ 1,605,459	$ 1,631,892
Equity method investment						766,583	778,721	$ 817,223
Impairment losses on long-lived assets						0	0	0
Goodwill impairment losses						0	0	0
Impairment loss on indefinite intangible assets								291,817
VAT tax rate	13.00%	16.00%	16.00%	17.00%	6.00%
Business taxes and related surcharges						$ 310,257	349,270	262,117
VAT payable subscription-based revenue, percentage						3.00%
VAT refunds						$ 96,709	189,335	348,165
Cash and cash equivalents						1,241,702	4,271,342	15,237,326
Advertising expenses, total						87,629	540,574	1,014,481
Commissions paid, total						7,836,793	$ 11,110,741	$ 13,976,505
Right-of-use assets						$ 3,988,004			$ 3,988,004
Operating lease liabilities									$ 3,690,085
Revenue | Customer Concentration Risk
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage						10.00%	10.00%	10.00%
Minimum
Summary of Significant Accounting Policies [Line Items]
Business tax on services provided						3.00%
Maximum
Summary of Significant Accounting Policies [Line Items]
Business tax on services provided						5.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Property and Equipment, Net Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2019
Technology Infrastructure
Property, Plant and Equipment [Line Items]
Property and equipment, net estimated useful lives	5 years
Computer Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, net estimated useful lives	5 years
Furniture, Fixtures and Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, net estimated useful lives	5 years
Motor Vehicle
Property, Plant and Equipment [Line Items]
Property and equipment, net estimated useful lives	5 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, net estimated useful lives	Shorter of the lease term or 5 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Acquired Intangible Assets, Net Estimated Average Useful Lives (Details)	12 Months Ended
	Dec. 31, 2019
License And Related Trademarks | Maximum
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets, useful life	15 years
License And Related Trademarks | Minimum
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets, useful life	10 years
Completed Technology
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets, useful life	5 years
Customer Relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets, useful life	5 years
Customer Relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets, useful life	4 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Revenue Recognition, Net (Details) - Commodities Brokerage Services	12 Months Ended
	Dec. 31, 2018USD ($)
Summary of Significant Accounting Policies [Line Items]
Commodities trading gain (loss)	$ (9,864)
Commission income	59,824
Total net revenue from commodities trading business	$ 49,960

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Exchange Rates Used in Translation (Details)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
RMB | Consolidated Statements of Operations and Comprehensive
Summary of Significant Accounting Policies [Line Items]
Foreign currency exchange rate	6.8985	6.6174	6.7518
RMB | Consolidated Balance Sheets
Summary of Significant Accounting Policies [Line Items]
Foreign currency exchange rate	6.9762	6.8632	6.5342
HKD | Consolidated Statements of Operations and Comprehensive
Summary of Significant Accounting Policies [Line Items]
Foreign currency exchange rate	7.8346	7.8380	7.7930
HKD | Consolidated Balance Sheets
Summary of Significant Accounting Policies [Line Items]
Foreign currency exchange rate	7.7877	7.8329	7.8170

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of Accounts Receivable by Customers (Details) - Accounts Receivable - Customer Concentration Risk - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Concentrations of credit risk accounts receivable	$ 5,262,041
Concentration risk, percentage	20.40%	10.00%

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Schedule of Accounts Receivable by Customers (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivable | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	20.40%	10.00%

Accounts Receivable - Schedule

Accounts Receivable - Schedule of Accounts Receivable (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Accounts receivable-margin clients	$ 14,605,104	$ 17,900,557
Less: Allowance for doubtful accounts	(1,153,521)	(149,523)
Accounts receivable- margin clients, net	13,451,583	17,751,034
Accounts receivable-others	12,616,609	7,105,317
Less: Allowance for doubtful accounts	(234,439)	(3,407)
Accounts receivable-others, net	$ 12,382,170	$ 7,101,910

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Prepayment of advertising fees	$ 10,105	$ 18,944
Advances to suppliers	1,018,164	1,125,187
VAT refund receivable	222,847	308,532
Interest receivable	24,908	44,726
Prepayment of office rental	47,845	81,239
Advances to employees	397,885	418,271
Advances to consulting service fees	153,444	17,773
Consideration receivable	77,749	77,300
Other current assets	459,994	317,323
Total	$ 2,412,941	$ 2,409,295

Short-Term Investments - Schedu

Short-Term Investments - Schedule of Changes in Level 2 Available-for-Sale Securities Measured on a Recurring Basis (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Short Term Investments [Abstract]
Beginning balance		$ 532,912
Purchases	$ 10,091,454	8,995,273
Redemption	(8,956,178)	(9,437,363)
Realized gain(loss)	11,743	(72,755)
Exchange difference	(263)	$ (18,067)
Ending balance	$ 1,146,756

Short-Term Investments - Additi

Short-Term Investments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Short Term Investments [Abstract]
Net unrealized gain (loss) from available-for-sale	$ 1,000

Short-Term Investments - Sche_2

Short-Term Investments - Schedule of Realized Gains of Sale of Available-for-Sale Short-Term Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Proceeds	$ (8,956,178)	$ (9,437,363)
Costs	10,091,454	8,995,273
Realized gain(loss)	11,743	(72,755)
Exchange difference	(263)	(18,067)
Available-for-Sale Short-Term Investments
Schedule of Investments [Line Items]
Proceeds	(8,956,178)	(9,437,363)
Costs	10,091,454	8,995,273
Realized gain(loss)	11,743	(72,755)
Exchange difference	$ (263)	$ (18,067)

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Financial Assets Measured or Disclosed at Fair Value on Recurring Basis (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents:
Cash and cash equivalents	$ 9,599,824	$ 12,493,135	$ 38,692,871
Short-term investments:
Available-for-sale short-term investments	1,146,756		$ 532,912
Total assets measured at fair value	1,146,756
Quoted Prices in Active Markets for Identical Assets (Level 1)
Cash and cash equivalents:
Cash and cash equivalents	9,599,824	$ 12,493,135
Significant Other Observable Inputs (Level 2)
Short-term investments:
Available-for-sale short-term investments	1,146,756
Total assets measured at fair value	$ 1,146,756

Fair Value Measurement - Sche_2

Fair Value Measurement - Schedule of Level 2 Available-for-Sale Short-term Investments Measured on Recurring Basis (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Beginning balance		$ 532,912
Purchases	$ 10,091,454	8,995,273
Redemption	(8,956,178)	(9,437,363)
Realized gain (loss)	11,743	(72,755)
Exchange difference	(263)	$ (18,067)
Ending balance	$ 1,146,756

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Indefinite-lived Intangible assets impairment loss recognized			$ 291,817
Goodwill, impairment loss	$ 0	$ 0	$ 0

Fair Value Measurement - Sche_3

Fair Value Measurement - Schedule of Fair Value Disclosed or Measured on Non-Recurring Basis (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible Assets (excluding goodwill), Total losses in the year ended			$ (291,817)
Non-Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, Fair value	108,416	107,791
Intangible Assets, Fair value	$ 74,477	$ 85,154

Equity Investments Without Re_3

Equity Investments Without Readily Determinable Fair Value - Additional Information (Details) - Privatecompany	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Trading Securities And Other Trading Assets [Line Items]
number of invested companies without readily determianable fair value	4	4
Maximum
Schedule Of Trading Securities And Other Trading Assets [Line Items]
investment percentage	10.00%	10.00%

Equity Investments Without Re_4

Equity Investments Without Readily Determinable Fair Value - Schedule of Equity investments without Readily Determinable Fair Value Investment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Beginning balance	$ 1,631,892	$ 1,714,058
Acquisitions
Observable price changes
Exchange difference	(26,433)	(82,166)
Ending balance	$ 1,605,459	$ 1,631,892

Equity Method Investment - Addi

Equity Method Investment - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Equity interests, description	the Company paid $307,996 to acquire 20% of an investee’s the equity interest.
Equity method investment, ownership percentage				20.00%
Equity method investment, ownership transferred percentage			59.83%
Recognized gain from equity method investment	$ 391	$ 470
Equity method investment, net	$ 766,583	$ 778,721	$ 817,223
CFO Aishang
Schedule Of Equity Method Investments [Line Items]
Equity method investments, fair value disclosure				$ 985,586
Equity interests, description	The remaining 40% equity interests in CFO Aishang was recorded as equity method investment at the disposal date
Payments to acquire equity method investments				$ 307,996
Equity method investment, ownership percentage				55.00%
Equity method investment, ownership transferred percentage				15.00%
Remaining equity interests				40.00%

Equity Method Investment - Summ

Equity Method Investment - Summary of Changes In Equity Method Investment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments And Joint Ventures [Abstract]
Beginning balance	$ 778,721	$ 817,223
Recognized gain from equity method investment	391	470
Consideration Received on Disposal
Exchange difference	(12,529)	(38,972)
Ending balance	$ 766,583	$ 778,721

Deconsolidation - Additional In

Deconsolidation - Additional Information (Details)	3 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2019USD ($)Affiliate	Dec. 31, 2018USD ($)Affiliate	Dec. 31, 2017USD ($)Affiliate	Dec. 31, 2015
Schedule Of Deconsolidation [Line Items]
Equity method investment, ownership percentage					59.83%
Gain on interest sold retained noncontrolling investment			$ 299,645	$ 1,186,852	$ 738,397
Number of deregisted affiliates | Affiliate			2	7	4
Number of previously owned deregistered affiliates | Affiliate			1	5
Number of fully owned deregistered affiliates | Affiliate			1	2
Investement in affiliates, percentage						20.00%
Shanghai Meining Computer Software Co., Ltd
Schedule Of Deconsolidation [Line Items]
Cash consideration		$ 1,451,723
Equity method investment, ownership percentage		100.00%
Gain on interest sold retained noncontrolling investment					$ 1,080
CFO Zhengjin Qingdao
Schedule Of Deconsolidation [Line Items]
Cash consideration	$ 159,907
Equity method investment, ownership percentage	59.83%
Gain on interest sold retained noncontrolling investment					$ 1,259,044
Affiliates [Member]
Schedule Of Deconsolidation [Line Items]
Investement in affiliates, percentage			59.83%	59.83%
iSTAR Wealth Management
Schedule Of Deconsolidation [Line Items]
Description of gain on interest sold retained noncontrolling investment			(i) the fair value of the consideration transferred, (ii) the fair value of any retained noncontrolling investment in the former affiliated company on the date the affiliated company was deconsolidated, if any, (iii) the carrying amount of any noncontrolling interest in the former subsidiary (including any accumulated other comprehensive income or loss attributable to the noncontrolling interests) on the date the subsidiary is deconsolidated, and (iv) the carrying amount of any noncontrolling interest in the former affiliated company on the date the affiliated company was deconsolidated, if applicable; and the carrying amount of the former affiliated company’s net assets.

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,437,003	$ 21,253,686
Less: accumulated depreciation	(16,165,270)	(16,794,352)
Property and equipment, net	4,271,733	4,459,334
Technology Infrastructure
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,857,786	10,730,756
Computer Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,778,945	1,886,170
Furniture, Fixtures and Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,206,010	3,383,846
Motor Vehicle
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,017,117	1,033,864
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,577,145	$ 4,219,050

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Abstract]
Depreciation expense	$ 1,203,235	$ 1,686,588	$ 2,093,993

Acquired Intangible Assets, N_3

Acquired Intangible Assets, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 111,715	$ 111,070
Accumulated Amortization	(37,238)	(25,916)
Intangible Assets (excluding goodwill), Total losses in the year ended			$ (291,817)
Acquired intangible assets, net	74,477	85,154
PIBA License [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	111,715	111,070
Accumulated amortization	(37,238)	(25,916)
Net carrying amount	$ 74,477	$ 85,154

Acquired Intangible Assets, N_4

Acquired Intangible Assets, Net - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 11,119	$ 11,112	$ 11,165
Future amortization expenses for 2020		11,172
Future amortization expenses for 2021		11,172
Future amortization expenses for 2022		11,172
Future amortization expenses for 2023		11,172
Future amortization expenses for 2024 and thereafter		29,789
Loss from impairment of intangible assets	$ 0	$ 0	$ 291,817

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Balance	$ 107,791	$ 108,010
Exchange difference	625	(219)
Balance	108,416	107,791
Commodities Brokerage
Goodwill [Line Items]
Balance
Exchange difference
Balance
Investment Advisory Services
Goodwill [Line Items]
Balance
Exchange difference
Balance
Institutional Subscription Services
Goodwill [Line Items]
Balance
Exchange difference
Balance
HongKong Brokerage Services
Goodwill [Line Items]
Balance	107,791	108,010
Exchange difference	625	(219)
Balance	$ 108,416	$ 107,791

Goodwill - Additional Informati

Goodwill - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill Textual
Goodwill, impairment loss	$ 0	$ 0	$ 0

Accounts Payable - Schedule of

Accounts Payable - Schedule of Accounts Payable (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Accounts Payable [Line Items]
Accounts payable	$ 6,741,181	$ 2,947,206
Amount due to customers of Hong Kong brokerage business [Member]
Accounts Payable [Line Items]
Accounts payable	6,552,742	2,748,745
Amount due to sales agents [Member]
Accounts Payable [Line Items]
Accounts payable	112,555	114,408
Others [Member]
Accounts Payable [Line Items]
Accounts payable	$ 75,884	$ 84,053

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses And Other Current Liabilities (Details) - USD ($)		Dec. 31, 2019	Dec. 31, 2018
Accrued Expenses And Other Current Liabilities [Abstract]
Accrued bonus		$ 1,063,891	$ 1,889,145
Accrued professional service fees		558,752	450,015
Withholding individual income tax-option exercise		215,945	36,696
Value added taxes and other taxes payable		375,548	(20,502)
Accrued raw data cost		651,633	470,664
Accrued bandwidth cost		(24,970)	180,151
Accrued welfare benefits		64,167	69,306
Deposit payable	[1]		1,384,194
Funds received from third party investors	[2]	9,415,798	4,468,798
Accrued sales service fees		81,623	272,849
Accrued expenses and other current liabilities		5,017,526	2,526,919
Accrued liabilities and other liabilities current total		$ 17,419,913	$ 11,728,235
[1]	Pursuant to the Share Transfer Agreement, the Buyer provided a refundable deposit to the Company of $1.4 million. The refundable deposit was not considered part of the Purchase Price. The deposit was refundable to the Buyer upon the Share Transfer approval by Securities and Futures Commission of Hong Kong (“SFC”), which was one of the prerequisites for the transaction. The Share Transfer was approved during 2018 and the Company refunded the deposit to the Buyer during 2019
[2]	Pursuant to the Share Transfer Agreement, the completion of the equity transfer is subject to conditions, including but not limited to obtaining all necessary approvals and consents of Securities and Futures Commission of Hong Kong. As of December 31, 2019, both the register of shareholders and business registration had not been changed, therefore the equity transfer has not been completed and recorded in noncontrolling interests. In addition, the Share Transfer Agreement was subject to Rifa Financial being listed on the Main Board of the Stock Exchange of Hong Kong Limited (“HKEX”) as of December 31, 2019. If Rifa Financial is not listed on the HKEX, the Company would refund all amounts received under the Share Transfer Agreement without interest to the Buyer within two weeks from December 31, 2019. Due to the failure of Rifa Financial listing on HKEX through December 31, 2019, the shares were not transferred to the Buyer. The Company is obligated to return the Purchase Price (funds received) to the Buyer.

Accrued Expenses and Other Cu_4

Accrued Expenses and Other Current Liabilities (Details Textual) $ in Millions, $ in Millions	1 Months Ended
	Nov. 30, 2018USD ($)shares	Nov. 30, 2018HKD ($)shares	Dec. 31, 2019	Dec. 31, 2018USD ($)
Rifa Financial Holdings Limited
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Percentage of investment			85.00%
Buyer | Share Transfer Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of shares sold under agreement | shares	1,552,000	1,552,000
Consideration under agreement	$ 9.4	$ 73.8
Deposit from paid-in capital of noncontrolling shareholders | $				$ 1.4
Buyer | Share Transfer Agreement | Rifa Financial Holdings Limited
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Percentage of investment	20.00%	20.00%

Stock Options and Nonvested S_3

Stock Options and Nonvested Shares - Additional Information (Details)

Dec. 03, 2019shares

Dec. 28, 2018shares

Jul. 12, 2017shares

Nov. 08, 2016shares

May 31, 2016USD ($)

Nov. 16, 2015$ / sharesshares

Jul. 01, 2014USD ($)Affiliate

Jan. 02, 2014shares

Jul. 01, 2015USD ($)

Jun. 30, 2014shares

Nov. 30, 2010shares

Jul. 31, 2007shares

Dec. 31, 2019USD ($)shares

Dec. 31, 2018USD ($)$ / sharesshares

Dec. 31, 2017USD ($)$ / sharesshares

Dec. 31, 2015$ / shares

Dec. 31, 2014$ / sharesshares

Dec. 31, 2010shares

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based compensation expenses | $

$ 1,113,828

$ 2,240,512

$ 3,068,213

Number of shares vested

0

Number of affiliates | Affiliate

2

Shenzhen Shangtong Software Co., Ltd. ("CFO Shenzhen Shangtong")

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based compensation expenses | $

$ 522

1,769

3,223

Share based compensation period for recognition

7 months 6 days

Shenzhen Tahoe Investment and Development Co., Ltd ("CFO Tahoe")

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based compensation expenses | $

$ 70,324

139,749

225,864

Unrecognized share based compensation expenses | $

$ 21,077

Share based compensation period for recognition

7 months 6 days

Fortune Zhengjin Company Limited

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based compensation expenses | $

$ 625,978

$ 1,240,579

2,056,931

Unrecognized share based compensation expenses | $

$ 274,776

Share based compensation period for recognition

7 months 6 days

Restricted Shares

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based compensation expenses | $

(15,657)

Share based compensation available for grant

773,685

Share based compensation arrangement grants in period

2,414,500

Restricted Shares | Shenzhen Tahoe Investment and Development Co., Ltd ("CFO Tahoe")

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation period for recognition

5 years

Restricted Shares | Employees | Shenzhen Shangtong Software Co., Ltd. ("CFO Shenzhen Shangtong")

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation for rendering service

5 years

Share based payment award percentage of net assets granted

10.00%

Share based compensation arrangement by percentage of shares granted

10.00%

Share based compensation arrangement by grants in period fair value | $

$ 28,965

Restricted Shares | Employees | Fortune Zhengjin

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation for rendering service

5 years

5 years

Share based payment award percentage of net assets granted

5.35%

8.00%

Share based compensation arrangement by percentage of shares granted

5.35%

8.00%

Share based compensation arrangement by grants in period fair value | $

$ 2,460,213

$ 2,464,455

$ 4,681,533

Restricted Shares | Employees | Shenzhen Tahoe Investment and Development Co., Ltd ("CFO Tahoe")

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based payment award percentage of net assets granted

1.95%

Share based compensation arrangement by percentage of shares granted

1.95%

Share based compensation arrangement by grants in period fair value | $

$ 1,141,124

2004 Stock incentive plan

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Number of ordinary shares authorized

30,688,488

Share based compensation intrinsic value | $

30,659

2004 Stock incentive plan | Restricted Shares

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement grants in period

1,100,240

Share based compensation for rendering service

3 years

Fair value of restricted shares | $ / shares

$ 1.106

2004 Stock incentive plan | Restricted Shares | Employees

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement grants in period

330,085

2007 Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement of vested in period

8,658,048

Fair value of granted share | $ / shares

$ 0.82

2007 Equity Incentive Plan | Nonvested Ordinary Shares

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement grants in period

3,000,000

10,558,493

2007 Equity Incentive Plan | Nonvested Ordinary Shares | Not vested under 2007 Plan

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement grants in period

1,900,445

2010 Equity Incentive Plan of Rifa Financial Holdings [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement grants in period

1,500

Share based compensation for rendering service

3 years

Fair value of restricted shares

15.00%

Nonvested shares granted percentage of earnings

15.00%

2014 Stock Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based compensation expenses | $

$ 177,414

$ 360,884

115,428

Number of ordinary shares authorized

20,000,000

5,000,000

Share based compensation arrangement vested in period, fair value | $

$ 445,888

$ 646,612

$ 174,360

Share based compensation arrangement of vested in period

200,000

Share based compensation available for grant

1,039,900

Number of options, Granted

280,000

2,690,000

Weighted average grant date fair value | $ / shares

$ 0.32

$ 0.24

Unrecognized share based compensation expenses | $

$ 57,187

Share based compensation period for recognition

10 months 24 days

2014 Stock Incentive Plan | Consultant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement grants in period

3,000,000

Share based compensation for rendering service

3 years

3 years

Number of options, Granted

0

200,000

30,000

2014 Stock Incentive Plan | Restricted Shares

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share-based compensation expenses | $

$ 239,590

$ 497,531

$ 682,424

Share based compensation for rendering service

2 years

3 years

2 years 6 months

2 years

2 years

Fair value of restricted shares | $ / shares

$ 0.742

$ 0.878

Share based compensation arrangement of vested in period

1,780,000

Unrecognized share based compensation expenses | $

$ 926,212

Share based compensation period for recognition

1 year 11 months 4 days

Share based compensation arrangement grants in period

8,000,000

1,900,000

150,000

200,000

3,800,000

750,885

0

1,780,000

2014 Stock Incentive Plan | Restricted Shares | Employees

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement of vested in period

138,000

Share based compensation arrangement grants in period

77,975

2014 Stock Incentive Plan | Restricted Shares | Consultant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement grants in period

1,150,000

2014 Stock Incentive Plan | Restricted Shares | Consultant [Member] | Share-Based Compensation Award, Tranche Two

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement grants in period

50,000

Share based compensation for rendering service

2 years

2014 Stock Incentive Plan | Restricted Shares | Employee One

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement of vested in period

684,000

Share based compensation arrangement grants in period

0

2014 Stock Incentive Plan | Restricted Shares | Employee Two

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation arrangement of vested in period

0

Share based compensation arrangement grants in period

0

2014 Stock Incentive Plan | Restricted Shares | One Consultant | Share-Based Compensation Award, Tranche Two

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation for rendering service

3 years

2014 Stock Incentive Plan | Employee Stock Option

Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]

Share based compensation for rendering service

3 years

3 years

Number of options, Granted

0

280,000

2,490,000

Stock Options and Nonvested S_4

Stock Options and Nonvested Shares - Summary of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
2004 Stock incentive plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of options, Outstanding at beginning of year	13,202,200	13,677,960	16,180,260
Number of options, Exercised	(20,000)	(2,400)	(107,200)
Number of options, Forfeited	(22,000)	(473,360)	(2,395,100)
Number of options, Outstanding at end of year	13,160,200	13,202,200	13,677,960
Number of options , Shares exercisable at end of year	13,160,200	13,202,200	13,677,960
Weighted average exercise price, Outstanding at beginning of year	$ 0.43	$ 0.46	$ 0.53
Weighted average exercise price, Exercised	0.25	0.25	0.25
Weighted average exercise price, Forfeited	1.43	1.16	0.98
Weighted average exercise price, Outstanding at end of year	0.43	0.43	0.46
Weighted average exercise price, Shares exercisable at end of year	$ 0.43	$ 0.43	$ 0.46
2014 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of options, Outstanding at beginning of year	3,675,000	3,755,000	1,105,000
Number of options, Granted		280,000	2,690,000
Number of options, Forfeited	(200,000)	(360,000)	(40,000)
Number of options, Outstanding at end of year	3,475,000	3,675,000	3,755,000
Number of options , Shares exercisable at end of year	2,529,000	1,877,000	1,045,800
Weighted average exercise price, Outstanding at beginning of year	$ 0.48	$ 0.49	$ 0.87
Weighted average exercise price, Granted		0.43	0.34
Weighted average exercise price, Forfeited	0.72	0.62	0.89
Weighted average exercise price, Outstanding at end of year	0.46	0.48	0.49
Weighted average exercise price, Shares exercisable at end of year	$ 0.49	$ 0.59	$ 0.88

Stock Options and Nonvested S_5

Stock Options and Nonvested Shares - Schedule of Information with Respect to Stock Options Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
2004 Stock incentive plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Number outstanding	13,160,200	13,202,200	13,677,960	16,180,260
Options outstanding, Weighted average remaining contractual life	3 years 3 days
Options outstanding, Weighted average exercise price	$ 0.43	$ 0.43	$ 0.46	$ 0.53
Option exercisable, Number exercisable	13,160,200	13,202,200	13,677,960
Option exercisable, Weighted average exercise price	$ 0.43	$ 0.43	$ 0.46
2004 Stock incentive plan | $1.43 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 1.43
Options outstanding, Number outstanding	2,012,500
Option exercisable, Number exercisable	2,012,500
2004 Stock incentive plan | $0.25 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 0.25
Options outstanding, Number outstanding	11,147,700
Option exercisable, Number exercisable	11,147,700
2014 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Number outstanding	3,475,000	3,675,000	3,755,000	1,105,000
Options outstanding, Weighted average remaining contractual life	5 years 4 months 17 days
Options outstanding, Weighted average exercise price	$ 0.46	$ 0.48	$ 0.49	$ 0.87
Option exercisable, Number exercisable	2,529,000	1,877,000	1,045,800
Option exercisable, Weighted average exercise price	$ 0.49	$ 0.59	$ 0.88
2014 Stock Incentive Plan | $0.878 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 0.878
Options outstanding, Number outstanding	585,000
Option exercisable, Number exercisable	585,000
2014 Stock Incentive Plan | $0.920 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 0.920
Options outstanding, Number outstanding	40,000
Option exercisable, Number exercisable	40,000
2014 Stock Incentive Plan | $1.032 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 1.032
2014 Stock Incentive Plan | $1.038 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	1.038
2014 Stock Incentive Plan | $0.870 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 0.870
Options outstanding, Number outstanding	120,000
Option exercisable, Number exercisable	120,000
2014 Stock Incentive Plan | $0.302 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 0.302
Options outstanding, Number outstanding	880,000
Option exercisable, Number exercisable	668,800
2014 Stock Incentive Plan | $0.348 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 0.348
Options outstanding, Number outstanding	1,640,000
Option exercisable, Number exercisable	1,115,200
2014 Stock Incentive Plan | $0.434 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options outstanding, Stock option with exercise price of:	$ 0.434
Options outstanding, Number outstanding	210,000

Stock Options and Nonvested S_6

Stock Options and Nonvested Shares - Summary of Fair Value of Employee Options Estimated on the Basis of Black-Scholes Option Price Model (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk free rate of return	2.52%
Weighted average expected option life	7 years 4 months 2 days
Expected volatility rate	76.44%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk free rate of return		1.88%
Weighted average expected option life		7 years 4 months 9 days
Expected volatility rate		73.31%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk free rate of return		2.13%
Weighted average expected option life		7 years 4 months 17 days
Expected volatility rate		74.76%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Effective profit tax rate	16.50%
Effective income tax rate	25.00%	25.00%	25.00%
Income tax rate, description	In the case of dividends paid by PRC subsidiaries the withholding tax would be 10% not considering the arrangements for the Avoidance of Double Taxation on income and Prevention of Fiscal Evasion with respect to Taxes on Income between mainland and Hong Kong
Withholding taxes, percent	10.00%
Aggregate deficits	$ 46,900,000
Aggregate undistributed earnings	$ 0
Interest on domestic subsidiary	50.00%
Valuation allowance	$ 27,126,541	$ 26,412,260
Operating loss carry forwards	$ 93,200,000
Operating loss carryforwards, expiration date	Dec. 31, 2024
Operating loss carryforwards, description	operating loss carry forwards includes approximately $93.2 million which will expire by 2024, and $25.0 million which will carry forward indefinitely.
Additional income tax expense	$ 5,545		$ 8,123
Unrecognized tax benefits term, description	in income taxes did not have a significant impact on the unrecognized tax benefits within 12 months from December 31, 2019
CFO Qingdao Zhida
Income Taxes [Line Items]
Income tax rate, description	Under this method, the qualifying entities filed their income tax by calculating as 2.5% of the gross revenues.
PRC
Income Taxes [Line Items]
Effective income tax rate	25.00%
Income tax rate, description	Under the EIT law and its implementing rules, enterprises that obtain status of “Software Enterprises” are entitled to be exempted from EIT tax for the first two profit-making years and enjoy a preferential 12.5% tax rate, which is half of the standard EIT rate of 25% for the three years thereafter.
PRC | Earliest Tax Year
Income Taxes [Line Items]
Year under tax examination	2014
PRC | Latest Tax Year
Income Taxes [Line Items]
Year under tax examination	2019
HNTE
Income Taxes [Line Items]
Effective income tax rate	15.00%
Income tax rate, description	Under the EIT Law and its implementing rules, an enterprise which qualifies as a “high and new technology enterprise” (“the HNTE”) is entitled to a tax rate of 15%.

Income Taxes - Schedule of Tax

Income Taxes - Schedule of Tax Preferential Policies (Details)	12 Months Ended
	Dec. 31, 2019
Tibet Lieqian Network Technology Co., Ltd
Income Tax Contingency [Line Items]
Chinese EIT rate	Preferential tax rate of 15% from 2018 and thereafter
Qualification for preferential tax rate	Preferential tax rate for enterprises in Tibet, China
CFO Genius
Income Tax Contingency [Line Items]
Chinese EIT rate	Preferential tax rate of 15% from 2018 to 2020.
Qualification for preferential tax rate	HNTE
CFO Tibet
Income Tax Contingency [Line Items]
Chinese EIT rate	Preferential tax rate of 9% from 2015 to 2017 and 15% thereafter
Qualification for preferential tax rate	Preferential tax rate for enterprises in Tibet, China

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Current	$ (144,087)	$ (169,033)	$ (578,367)
Deferred	(72,770)	116,254	253,951
Income tax expense	$ (216,857)	$ (52,779)	$ (324,416)

Income Taxes - Schedule of Prin

Income Taxes - Schedule of Principal Components of Deferred Income Taxes (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Deferred revenue	$ 1,307,149	$ 1,220,370
Accrued expenses and other liabilities	73,693	246,452
Net operating loss carrying forwards	27,126,541	26,418,044
Gross current deferred tax assets	28,507,383	27,884,866
Less: valuation allowance	(27,126,541)	(26,412,260)
Total deferred tax assets	1,380,842	1,472,606
Deferred tax liabilities:
Account receivable and other assets	(1,922)	(14,632)
Intangible assets	(12,289)	(14,050)
Total deferred tax liabilities	$ (14,211)	$ (28,682)

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation Between Total Income Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Loss before tax	$ (12,526,891)	$ (22,417,716)	$ (42,064,021)
Income tax benefits calculated at 25%	(3,131,723)	(5,604,429)	(10,516,005)
Effect of PRC preferential tax rates and tax holiday	(49,582)	11,750	2,678,633
Effect of income tax rate difference in other jurisdictions	71,057	(652,330)	(267,503)
Non-deductible expenses	886,418	2,014,345	7,650,137
Non-taxable income	(353,790)	(929,875)	(8,934,794)
Change in valuation allowance	714,281	1,612,806	8,505,113
Expiration of NOL	2,080,196	3,600,512	1,208,835
Income tax expense	$ 216,857	$ 52,779	$ 324,416

Income Taxes - Schedule of Re_2

Income Taxes - Schedule of Reconciliation Between Total Income Tax Expense (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate	25.00%	25.00%	25.00%

American Depositary Shares ("_2

American Depositary Shares ("ADS") Plan - Additional Information (Details) - shares	1 Months Ended
	Apr. 30, 2019	Sep. 30, 2015	Dec. 31, 2019
September 2015
American Depositary Shares [Line Items]
Exercise of options and vesting of granted shares			1,083,955
April 2019
American Depositary Shares [Line Items]
Exercise of options and vesting of granted shares			4,000,000
2004 Plan and 2014 Plan | September 2015
American Depositary Shares [Line Items]
Ordinary shares issued		4,000,000
Exchanged received		800,000
2004 Plan and 2014 Plan | April 2019
American Depositary Shares [Line Items]
Ordinary shares issued	4,000,000
Exchanged received	800,000

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net Income (Loss) Per Share [Abstract]
Net loss attributable to China Finance Online Co. Limited	$ (11,262,821)	$ (19,950,120)	$ (36,736,553)
Weighted average ordinary shares outstanding used in computing diluted net loss per share	114,687,282	113,883,030	113,601,949
Weighted average ordinary shares outstanding used in computing basic net loss per share	114,687,282	113,883,030	113,601,949
Net loss per share attributable to China Finance Online Co. Limited
- basic	$ (0.10)	$ (0.18)	$ (0.32)
- diluted	$ (0.10)	$ (0.18)	$ (0.32)

Net Loss Per Share - Additional

Net Loss Per Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares	98,901	4,094,656
Restricted Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares	5,316,935	5,637,453
Nonvested Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive shares	3,000,000	3,000,000

Mainland China Contribution P_2

Mainland China Contribution Plan and Profit Appropriation - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution Pension And Other Postretirement Plans Disclosure [Abstract]
Total provisions	$ 2,708,316	$ 4,000,211	$ 4,768,614

Noncontrolling Interests - Sche

Noncontrolling Interests - Schedule of Noncontrolling Interests (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Noncontrolling Interest [Line Items]
Balance, Beginning	$ (9,109,839)
Deconsolidation	295,830	$ 1,216,007	$ 809,692
Share-based compensation (Note 15)	1,113,828	2,240,512	3,068,213
Net income (loss)	(1,480,927)	(2,520,375)	(5,651,884)
Balance, Ending	(10,027,860)	(9,109,839)
Commodities Brokerage Services
Noncontrolling Interest [Line Items]
Balance, Beginning	(10,731,223)	(9,226,990)	(4,524,931)
Dividends paid to noncontrolling shareholders
Changes in controlling ownership interest
Deconsolidation	295,830	1,216,007	809,692
Share-based compensation (Note 15)	267,076	529,600	876,995
Net income (loss)	(1,704,695)	(3,249,840)	(6,388,746)
Balance, Ending	(11,873,012)	(10,731,223)	(9,226,990)
Investment Advisory Services
Noncontrolling Interest [Line Items]
Balance, Beginning
Dividends paid to noncontrolling shareholders
Changes in controlling ownership interest
Deconsolidation
Share-based compensation (Note 15)
Net income (loss)
Balance, Ending
Institution Subscription services [Member]
Noncontrolling Interest [Line Items]
Balance, Beginning
Dividends paid to noncontrolling shareholders
Changes in controlling ownership interest
Deconsolidation
Share-based compensation (Note 15)
Net income (loss)
Balance, Ending
Rifa Financial Holdings Brokerage services [Member]
Noncontrolling Interest [Line Items]
Balance, Beginning	1,621,384	891,919	155,057
Dividends paid to noncontrolling shareholders
Changes in controlling ownership interest
Deconsolidation
Share-based compensation (Note 15)
Net income (loss)	223,768	729,465	736,862
Balance, Ending	1,845,152	1,621,384	891,919
Other [Member]
Noncontrolling Interest [Line Items]
Balance, Beginning
Dividends paid to noncontrolling shareholders
Changes in controlling ownership interest
Deconsolidation
Share-based compensation (Note 15)
Net income (loss)
Balance, Ending
Non Controlling Interest
Noncontrolling Interest [Line Items]
Balance, Beginning	(9,109,839)	(8,335,071)	(4,369,874)
Dividends paid to noncontrolling shareholders
Changes in controlling ownership interest
Deconsolidation	295,830	1,216,007	809,692
Share-based compensation (Note 15)	267,076	529,600	876,995
Net income (loss)	(1,480,927)	(2,520,375)	(5,651,884)
Balance, Ending	$ (10,027,860)	$ (9,109,839)	$ (8,335,071)

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Details) $ in Millions, $ in Millions	1 Months Ended
	Nov. 30, 2018USD ($)shares	Nov. 30, 2018HKD ($)shares	Dec. 31, 2019	Dec. 31, 2018USD ($)
Rifa Financial Holdings Limited ("Rifa Financial Holdings") (Formerly known as "iSTAR Financial Holdings Limited")
Minority Interest [Line Items]
Percentage of investment			85.00%
Buyer | Share Transfer Agreement
Minority Interest [Line Items]
Number of shares sold under agreement | shares	1,552,000	1,552,000
Consideration under agreement	$ 9.4	$ 73.8
Deposit from paid-in capital of noncontrolling shareholders | $				$ 1.4
Buyer | Rifa Financial Holdings Limited ("Rifa Financial Holdings") (Formerly known as "iSTAR Financial Holdings Limited") | Share Transfer Agreement
Minority Interest [Line Items]
Percentage of investment	20.00%	20.00%

Leases and Contingencies - Addi

Leases and Contingencies - Additional Information (Details)	May 06, 2020	Oct. 24, 2019	Jun. 02, 2019USD ($)	Nov. 29, 2018USD ($)	Dec. 31, 2019USD ($)Squaremetre
Loss Contingencies [Line Items]
Finance lease, noncurrent | $					$ 0
Minimum
Loss Contingencies [Line Items]
Damages sought, value | $				$ 500,000,000
Zhengjin (Fujian) Precious Metal Investment Co. Ltd. [Member]
Loss Contingencies [Line Items]
Lawsuit filing date			June 2, 2019
Name of plaintiff			Zhengjin
Domicile of litigation			Xicheng District People’s Court in Beijing, PRC
Plantiff's allegations			Lin Zhang, a PRC citizen in a lawsuit filed in Xicheng District People’s Court in Beijing, PRC (the “Court”) claiming that his/her trading activities in the trading system of Haixi Commodity Trading are invalidated and the defendants shall return the transaction amount in the aggregate of RMB2,729,996, approximately $391,000.
Actions taken by defendant		The defendants filed an application for objection to jurisdiction to the Court on October 24, 2019.
Zhengjin (Fujian) Precious Metal Investment Co. Ltd. [Member] | Subsequent Event
Loss Contingencies [Line Items]
Domicile of litigation	Gulou District People's Court in Fuzhou City, Fujian Province, PRC
Actions taken by the Court	The Court then issued a civil ruling No. 22769 of Beijing 0102 Minchu (2019) on May 6, 2020, and transferred the case to the Gulou District People's Court in Fuzhou City, Fujian Province, PRC for trial. This case remains in its preliminary stage.
Zhengjin (Fujian) Precious Metal Investment Co. Ltd. [Member] | RMB
Loss Contingencies [Line Items]
Damages sought, value | $			$ 729,996
Zhengjin (Fujian) Precious Metal Investment Co. Ltd. [Member] | United States of America, Dollars
Loss Contingencies [Line Items]
Damages sought, value | $			$ 391,000
Beijing Lease
Loss Contingencies [Line Items]
Area of lease					4,200
Shanghai Lease
Loss Contingencies [Line Items]
Area of lease					540
Shenzhen Lease
Loss Contingencies [Line Items]
Area of lease					760
Wuhan Lease
Loss Contingencies [Line Items]
Area of lease					110
Shandong Province Lease
Loss Contingencies [Line Items]
Area of lease					275
Hong Kong Lease
Loss Contingencies [Line Items]
Area of lease					460

Leases and Contingencies - Sche

Leases and Contingencies - Schedule of Lease Costs (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Operating lease cost	$ 2,832,968	[1]
Total lease cost	$ 2,832,968
[1]	Excluding cost of short-term contracts. Short-term lease costs for year ended December 31, 2019 were $261,136.

Leases and Contingencies - Sc_2

Leases and Contingencies - Schedule of Lease Costs (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Short-term lease cost	$ 261,136

Leases and Contingencies - Sc_3

Leases and Contingencies - Schedule of Operating Leases (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Operating cash payment for operating leases	$ 2,606,034
Weighted average remaining lease term on operating leases	1 year 2 months 12 days
Weighted average discount rate on operating leases	4.95%

Leases and Contingencies - Sc_4

Leases and Contingencies - Schedule of Future Minimum Payments under Non-cancelable Operating Leases (Details)	Dec. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
2020	$ 2,350,404
2021	1,101,102
2022	377,082
2023	48,647
Total lease payments	3,877,235
Less: interest	(187,150)
Present value of lease payments	$ 3,690,085

Segment and Geographic Inform_3

Segment and Geographic Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019Segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment and Geographic Inform_4

Segment and Geographic Information - Schedule of Operations of Company's Operating Segments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net revenues	$ 35,518,790	$ 45,477,926	$ 42,622,650
Cost of revenues	13,188,093	17,465,167	21,933,678
Less: intersegment cost of revenues	(213,958)	(623,252)
Cost of revenues after elimination	12,974,135	16,841,915	21,933,678
Operating expenses:
General and administrative	12,245,567	14,397,562	16,006,914
Product development	15,533,973	24,716,021	25,278,369
Sales and marketing	13,366,322	22,160,188	30,879,776
Total segments operating expenses	41,145,862	61,273,771	72,456,876
Loss from impairment of intangible assets	0	0	291,817
Less: intersegment operating expenses	(6,451,653)	(11,029,670)	(11,239,380)
Total operating expenses	34,694,209	50,244,101	61,217,496
Government subsidies			230,174
Income (loss) from operations	(12,149,554)	(21,608,090)	(40,298,350)
Total segments assets	259,330,122	246,377,732	297,696,496
Less: intersegment asset balances	(170,165,596)	(165,688,382)	(183,092,643)
Total assets	89,164,526	80,689,350	114,603,853
Operating Segments
Segment Reporting Information [Line Items]
Net revenues	42,125,612	56,989,346	53,181,824
Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	(6,606,822)	(11,511,420)	(10,559,174)
Commodities Brokerage Services
Segment Reporting Information [Line Items]
Net revenues		49,960	2,588,426
Cost of revenues		2,813	(60,504)
Cost of revenues after elimination		2,813	(60,504)
Operating expenses:
General and administrative	1,428,075	3,174,478	4,511,167
Product development	7,677	277,353	1,776,007
Sales and marketing	234,661	929,411	11,115,488
Total segments operating expenses	1,670,413	4,381,242	17,402,662
Less: intersegment operating expenses			(1,110,431)
Total operating expenses	1,670,413	4,381,242	16,292,231
Government subsidies			230,174
Income (loss) from operations	(1,670,413)	(4,334,095)	(13,413,127)
Total segments assets	12,200,897	13,201,206	21,569,350
Less: intersegment asset balances	(11,703,363)	(12,624,577)	(13,995,983)
Total assets	497,534	576,629	7,573,367
Commodities Brokerage Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenues		49,960	3,698,857
Commodities Brokerage Services | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues			(1,110,431)
Subscription Services And Other Related Services
Segment Reporting Information [Line Items]
Net revenues	19,719,443	23,084,016	14,752,491
Cost of revenues	5,348,329	6,249,529	7,453,185
Less: intersegment cost of revenues	(213,958)	(623,252)
Cost of revenues after elimination	5,134,371	5,626,277	7,453,185
Operating expenses:
General and administrative	5,200,622	7,022,338	7,565,268
Product development	15,502,285	24,394,373	23,502,362
Sales and marketing	9,751,017	17,574,405	16,830,525
Total segments operating expenses	30,453,924	48,991,116	48,189,972
Loss from impairment of intangible assets			291,817
Less: intersegment operating expenses	(6,389,793)	(10,791,561)	(9,439,947)
Total operating expenses	24,064,131	38,199,555	38,750,025
Income (loss) from operations	(9,479,059)	(20,741,816)	(31,450,719)
Total segments assets	157,264,579	156,883,869	187,122,375
Less: intersegment asset balances	(138,083,606)	(133,070,873)	(149,214,015)
Total assets	19,180,973	23,812,996	37,908,360
Subscription Services And Other Related Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenues	26,323,194	34,498,830	23,984,993
Subscription Services And Other Related Services | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	(6,603,751)	(11,414,814)	(9,232,502)
HongKong Brokerage Services
Segment Reporting Information [Line Items]
Net revenues	15,799,347	22,343,950	25,281,733
Cost of revenues	7,839,764	11,212,825	14,540,997
Cost of revenues after elimination	7,839,764	11,212,825	14,540,997
Operating expenses:
General and administrative	5,616,870	4,200,746	3,930,479
Product development	24,011	44,295
Sales and marketing	3,380,644	3,656,372	2,933,763
Total segments operating expenses	9,021,525	7,901,413	6,864,242
Less: intersegment operating expenses	(61,860)	(238,109)	(689,002)
Total operating expenses	8,959,665	7,663,304	6,175,240
Income (loss) from operations	(1,000,082)	3,467,821	4,565,496
Total segments assets	89,864,646	76,292,657	89,004,771
Less: intersegment asset balances	(20,378,627)	(19,992,932)	(19,882,645)
Total assets	69,486,019	56,299,725	69,122,126
HongKong Brokerage Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenues	15,802,418	22,440,556	25,497,974
HongKong Brokerage Services | Intersegment Eliminations
Segment Reporting Information [Line Items]
Net revenues	$ (3,071)	$ (96,606)	$ (216,241)

Segment and Geographic Inform_5

Segment and Geographic Information - Schedule of Revenue From External Customers (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total revenue from external customers	$ 35,518,790	$ 45,477,926	$ 42,622,650
Commodities Brokerage Services Revenues
Segment Reporting Information [Line Items]
Total revenue from external customers		49,960	2,588,426
Financial Information And Advisory Services Revenues
Segment Reporting Information [Line Items]
Total revenue from external customers	10,674,164	14,891,267	10,271,822
Advertising Revenues
Segment Reporting Information [Line Items]
Total revenue from external customers	8,310,150	7,312,947	3,588,499
Hong Kong Brokerage Services Revenues
Segment Reporting Information [Line Items]
Total revenue from external customers	15,799,347	22,343,950	25,281,733
Others
Segment Reporting Information [Line Items]
Total revenue from external customers	$ 735,129	$ 879,802	$ 892,170

Statutory Reserves and Restri_2

Statutory Reserves and Restricted Net Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statutory Reserves And Restricted Net Assets [Abstract]
Statutory reserve tax profit, description	These reserve funds include the (1) general reserve, (2) enterprise expansion fund and (3) staff bonus and welfare fund. Subject to certain cumulative limits, the general reserve fund requires annual appropriations of not less than 10% of after-tax profit (as determined under accounting principles and financial regulations applicable to PRC enterprises at each year-end); the other two funds are to be made at the discretion of the board of directors of each of the Company’s subsidiaries
Statutory reserves	$ 8,875,124	$ 8,909,338
Statutory reserves not available for distribution	$ 6,533,816

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - ADS Program - Subsequent Event	Jan. 06, 2020shares
Subsequent Event [Line Items]
Number of shares represented by each unit of ADS	50
Ordinary shares, conversion ratio	10
Sale of stock, description of transaction	the Company effected a 10:1 ratio change of the Company’s ADS program from 1 ADS representing 5 ordinary shares of the Company to a new ratio of 1 ADS representing 50 ordinary shares of the Company.

Schedule I - Balance Sheets (De

Schedule I - Balance Sheets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 9,599,824	$ 12,493,135	$ 38,692,871
Prepaid expenses and other current assets	2,412,941	2,409,295
Total current assets	75,980,758	70,973,244
Total assets	89,164,526	80,689,350	114,603,853
Current liabilities:
Total current liabilities	72,423,471	54,175,724
Shareholders’ equity
Ordinary shares (118,098,018 and 122,098,018 shares issued and outstanding as of December 31, 2018 and 2019, respectively)	57,006,534	57,001,017
Additional paid-in capital	36,925,874	36,079,122
Accumulated other comprehensive income	6,412,555	6,291,793
Retained deficits	(75,189,077)	(63,926,256)
Total China Finance Online Co. Limited shareholders’ equity	25,155,886	35,445,676
Total liabilities and equity	89,164,526	80,689,350
Parent Company [Member]
Current assets:
Cash and cash equivalents	753,380	2,375,055
Amounts due from subsidiaries, VIEs and VIE’s subsidiaries	9,557,835	9,840,733
Prepaid expenses and other current assets	260,303	104,338
Total current assets	10,571,518	12,320,126
Investment in subsidiaries	39,142,555	41,009,649
Total assets	49,714,073	53,329,775
Current liabilities:
Accrued expenses and other current liabilities	9,936,508	4,793,891
Amounts due to subsidiaries, VIEs and VIE’s subsidiaries	14,621,679	13,090,208
Total current liabilities	24,558,187	17,884,099
Shareholders’ equity
Ordinary shares (118,098,018 and 122,098,018 shares issued and outstanding as of December 31, 2018 and 2019, respectively)	57,006,534	57,001,017
Additional paid-in capital	36,925,874	36,079,122
Accumulated other comprehensive income	6,412,555	6,291,793
Retained deficits	(75,189,077)	(63,926,256)
Total China Finance Online Co. Limited shareholders’ equity	25,155,886	35,445,676	$ 54,046,682	$ 86,164,684
Total liabilities and equity	$ 49,714,073	$ 53,329,775

Schedule I - Balance Sheets (Pa

Schedule I - Balance Sheets (Parenthetical) (Details) - shares	Dec. 31, 2019	Dec. 31, 2018
Condensed Balance Sheet Statements Captions [Line Items]
Ordinary shares, shares issued	122,098,018	118,098,018
Ordinary shares, shares outstanding	122,098,018	118,098,018
Parent Company [Member]
Condensed Balance Sheet Statements Captions [Line Items]
Ordinary shares, shares issued	122,098,018	118,098,018
Ordinary shares, shares outstanding	122,098,018	118,098,018

Schedule I - Financial informat

Schedule I - Financial information of Parent Company - Statements of Comprehensive Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Statement Of Income Captions [Line Items]
Cost of revenues	$ 12,974,135	$ 16,841,915	$ 21,933,678
Gross profit	22,544,655	28,636,011	20,688,972
Operating expenses:
General and administrative	12,245,567	14,397,562	16,006,914
Sales and marketing	13,366,322	22,160,188	30,879,776
Share-based Compensation	1,113,828	2,240,512	3,068,213
Total operating expenses	34,694,209	50,244,101	61,217,496
Interest income	33,397	96,679	487,007
Exchange gain (loss), net	(134,172)	246,680	(131,461)
Other income (expense), net	22,692	34,498	(219,472)
Net loss attributable to China Finance Online Co. Limited	(11,262,821)	(19,950,120)	(36,736,553)
Other comprehensive income (loss), net of tax:
Changes in foreign currency translation adjustment	120,762	(362,398)	2,400,548
Other comprehensive income (loss), net of tax	120,762	(362,398)	2,400,548
Comprehensive loss	(12,622,986)	(22,832,893)	(39,987,889)
Parent Company [Member]
Condensed Statement Of Income Captions [Line Items]
Cost of revenues	87,105	85,493	84,717
Gross profit	(87,105)	(85,493)	(84,717)
Operating expenses:
General and administrative	1,111,665	1,069,590	1,122,440
Sales and marketing		17,526	181,073
Share-based Compensation	417,004	858,415	782,196
Total operating expenses	1,528,669	1,945,531	2,085,709
Interest income	93	4,851	2,246
Equity in earnings (deficits) of subsidiaries, VIEs and VIE’s subsidiaries	(9,627,269)	(17,888,289)	(34,540,850)
Exchange gain (loss), net	(19,871)	(10,608)	(2,785)
Other income (expense), net		(25,050)	(24,738)
Net loss attributable to China Finance Online Co. Limited	(11,262,821)	(19,950,120)	(36,736,553)
Other comprehensive income (loss), net of tax:
Changes in foreign currency translation adjustment	120,762	(362,398)	2,400,548
Other comprehensive income (loss), net of tax	120,762	(362,398)	2,400,548
Comprehensive loss	$ (11,142,059)	$ (20,312,518)	$ (34,336,005)

Schedule I - Financial inform_2

Schedule I - Financial information of Parent Company - Statement of Shareholders' Equity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements Captions [Line Items]
Balance	$ 35,445,676
Issuance of ordinary shares for the plan of share options and restricted shares	520
Exercise of share options by employees	4,997	$ 600	$ 26,785
Share-based compensation	1,113,828	2,240,512	3,068,213
Net loss	(11,262,821)	(19,950,120)	(36,736,553)
Balance	25,155,886	35,445,676
Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Balance	35,445,676	54,046,682	86,164,684
Issuance of ordinary shares for the plan of share options and restricted shares	520
Exercise of share options by employees	4,997	600	26,785
Share-based compensation	417,004	858,415	782,196
Equity pick up from compensation of VIE's subsidiaries	429,748	852,497	1,409,022
Foreign currency translation adjustment	120,762	(362,398)	2,400,548
Net loss	(11,262,821)	(19,950,120)	(36,736,553)
Balance	$ 25,155,886	$ 35,445,676	$ 54,046,682
Ordinary Shares
Condensed Financial Statements Captions [Line Items]
Balance, shares	118,098,018	118,098,018	118,098,018
Issuance of ordinary shares for the plan of share options and restricted shares	$ 520
Issuance of ordinary shares for the plan of share options and restricted shares, shares	4,000,000
Exercise of share options by employees	$ 4,997	$ 600	$ 26,785
Balance, shares	122,098,018	118,098,018	118,098,018
Ordinary Shares | Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Balance	$ 57,001,017	$ 57,000,417	$ 56,973,632
Balance, shares	118,098,018	118,098,018	118,098,018
Issuance of ordinary shares for the plan of share options and restricted shares	$ 520
Issuance of ordinary shares for the plan of share options and restricted shares, shares	4,000,000
Exercise of share options by employees	$ 4,997	$ 600	$ 26,785
Balance	$ 57,006,534	$ 57,001,017	$ 57,000,417
Balance, shares	122,098,018	118,098,018	118,098,018
Additional Paid-in Capital
Condensed Financial Statements Captions [Line Items]
Share-based compensation	$ 846,752	$ 1,710,912	$ 2,191,218
Additional Paid-in Capital | Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Balance	36,079,122	34,368,210	32,176,992
Share-based compensation	417,004	858,415	782,196
Equity pick up from compensation of VIE's subsidiaries	429,748	852,497	1,409,022
Balance	36,925,874	36,079,122	34,368,210
Accumulated Other Comprehensive Income (Loss) | Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Balance	6,291,793	6,654,191	4,253,643
Foreign currency translation adjustment	120,762	(362,398)	2,400,548
Balance	6,412,555	6,291,793	6,654,191
Retained Earnings/(Deficits) | Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Balance	(63,926,256)	(43,976,136)	(7,239,583)
Net loss	(11,262,821)	(19,950,120)	(36,736,553)
Balance	$ (75,189,077)	$ (63,926,256)	$ (43,976,136)

Schedule I - Financial inform_3

Schedule I - Financial information of Parent Company - Statement of Cash Flows (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net loss	$ (11,262,821)	$ (19,950,120)	$ (36,736,553)
Adjustments to reconcile net loss to net cash provided by Operating activities:
Share-based Compensation	1,113,828	2,240,512	3,068,213
Changes in assets and liabilities:
Prepaid expenses and other current assets	1,554,475	559,702	(1,105,245)
Accrued expenses and other current liabilities	(728,604)	(683,420)	(3,483,073)
Net cash used in operating activities	(5,191,746)	(32,714,475)	(26,904,911)
Investing activities:
Net cash provided by (used in) investing activities	(2,687,813)	106,411	15,832,444
Financing activities:
Proceeds from stock options exercised by employees and issuance of ordinary shares	4,997	600	26,786
Net cash provided by (used in) financing activities	4,951,997	4,466,600	(19,056,395)
Net (decrease) increase in cash and cash equivalents	(2,893,311)	(28,235,370)	(27,906,491)
Cash, cash equivalents and restricted cash at beginning of the year	12,493,135	40,728,505	68,634,996
Cash, cash equivalents and restricted cash at end of the year	9,599,824	12,493,135	40,728,505
Parent Company [Member]
Operating activities:
Net loss	(11,262,821)	(19,950,120)	(36,736,553)
Adjustments to reconcile net loss to net cash provided by Operating activities:
Share-based Compensation	417,004	858,415	782,196
Equity in deficits (earnings) of subsidiaries, VIEs and VIE’s subsidiaries	9,627,269	17,888,289	34,540,850
Changes in assets and liabilities:
Prepaid expenses and other current assets	(155,445)	37,254	83,021
Amounts due from subsidiaries, VIEs and VIE’s subsidiaries	282,898	4,972	28,544
Accrued expenses and other current liabilities	225,952	235,882	(211,691)
Amounts due to subsidiaries, VIEs and VIE’s subsidiaries	1,531,471	3,319,598	(326,263)
Net cash used in operating activities	666,328	2,394,290	(1,839,898)
Investing activities:
Capital paid to subsidiaries	(7,240,000)	(12,100,010)
Net cash provided by (used in) investing activities	(7,240,000)	(12,100,010)
Financing activities:
Proceeds from stock options exercised by employees and issuance of ordinary shares	4,997	600	26,786
Proceeds from paid-in capital of noncontrolling shareholders	4,947,000	4,466,000
Net cash provided by (used in) financing activities	4,951,997	4,466,600	26,786
Net (decrease) increase in cash and cash equivalents	(1,621,675)	(5,239,120)	(1,813,112)
Cash, cash equivalents and restricted cash at beginning of the year	2,375,055	7,614,175	9,427,287
Cash, cash equivalents and restricted cash at end of the year	$ 753,380	$ 2,375,055	$ 7,614,175