UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
______________
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): January 14, 2010
ChinaNet Online Holdings,
Inc.
(Exact
Name of Registrant as Specified in Charter)
|
Nevada
|
000-52672
|
20-4672080
|
||
|
(State
or Other Jurisdiction of Incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
No.3
Min Zhuang Road, Building 6,
Yu
Quan Hui Gu Tuspark, Haidian District, Beijing, PRC
100195
|
|
(Address
of Principal Executive Offices and Zip
Code)
|
Registrant’s
telephone number, including area code: +86-10-51600828
_________________________________
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item
8.01 Other
Events.
On
January 14, 2010, ChinaNet Online Holdings, Inc. announced that it has entered
into a co-operation agreement with China’s Social Welfare & Education
Foundation to fund public service programs in support of the government’s social
goal of raising employment rates among college graduates in China. A
copy of the press release is furnished as Exhibit 99.1 hereto.
Item
9.01 Financial Statements
and Exhibits
| (d) | Exhibit No. | Description | ||
| 99.1 | Press Release |
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
Dated: January
18, 2010
|
ChinaNet
Online Holdings, Inc.
|
||
|
|
By:
|
/s/ Handong Cheng | |
| Name: Handong Cheng | |||
| Title: Chief Executive Officer | |||
EXHIBIT
INDEX
|
Exhibit
No.
|
Description
|
|
|
99.1
|
Press
Release
|
Exhibit
99.1
ChinaNet
Online Holdings, Inc. Announces 3-Year Agreement with Chinese Government to Host
Employment
Initiative on 28.com Web Portal
Beijing,
China, January 14, 2010 – ChinaNet Online Holdings, Inc. (“ChinaNet”, OTCBB:
CHNT), a leading full-service media development, advertising and communications
company for small and medium-sized enterprises (SMEs) in the People's Republic
of China ("China"), today announced that it has entered into a co-operation
agreement with China’s Social Welfare & Education Foundation to fund public
service programs in support of the government’s social goal of raising
employment rates among college graduates in China.
ChinaNet’s
www.28.com is the leading networking website in China for matching entrepreneurs
with business opportunities. ChinaNet anticipates this agreement could yield an
additional 50 to 100 clients annually who would utilize the portal to advertise
to this population of college students and graduates, their products, services
and business opportunities over the internet. ChinaNet estimates that each new
client would contribute approximately $30,000 in annual revenues.
According
to the agreement, ChinaNet will donate approximately $1.5 million per year for
the next three years starting in 2010 to China’s Social Welfare & Education
Foundation. These funds will help to support the Venture Resources Program
(“Program”). Through the Program, college graduates will apply for grants that
will help offset the costs associated with starting a new
business. Important information regarding the Program will be
accessible through ChinaNet’s www.28.com portal
which will serve as the official website for the Program. College
graduates lacking real world experience will also benefit from guidance provided
by well-known
entrepreneurs and venture experts. These experts will teach business knowledge,
help students establish self-awareness, inspire and support students to develop
their own businesses, and to improve their prospects for
employment.
“Raising
the employment rate of college graduates is a high priority for the Chinese
government, and we are pleased to have developed a program specifically targeted
for this important social initiative,” stated Mr. Handong Cheng, Chief Executive
Officer of the Company. “Given our resources and experience as a growing
entrepreneurial company coupled with our desire to improve the public welfare,
our cooperation was a natural fit. Our participation will
specifically enhance the awareness of ChinaNet among China's universities,
industry and venture communities, while increasing traffic to our website
www.28.com and creating a new online customer base of Chinese university
graduates.”
About
Venture Resources Program
The Venture Resources Program for
college students is a public service initiated by the Chinese National Federation
of Industry through partnerships with the Chinese Ministry of Education, the
Chinese
Communist Youth League Central Committee, and the Chinese Ministry of Civil
Affairs. A recent Chinese government report on the promotion of SME
development and employment highlighted the difficulty of college graduates
gaining employment. According to the Chinese State Council and Ministry
of Education, college graduates will total 6.1 million in 2010. Including
un-employed graduates from past years, the total is more than 7
million.
About
China Net Online Holdings, Inc.
The
Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in
the BVI ("ChinaNet" or "Zhong Wang Zai Xian"), is a leading full-service media
development, advertising and communications company for SMEs in the PRC. The
Company, through certain contractual arrangements with operating companies in
the PRC, provides internet advertising and other services for Chinese SMEs via
its portal website http://www.28.com , TV commercials and program production via
China-Net TV, and in-house LCD advertising on banking kiosks targeting Chinese
banking patrons. Website: http://www.chinanet-online.com
Safe
Harbor
This
release contains certain "forward-looking statements" relating to the business
of ChinaNet Online Holdings, Inc., which can be identified by the use of
forward-looking terminology such as "believes," "expects," "anticipates,"
"estimates" or similar expressions. Such forward-looking statements involve
known and unknown risks and uncertainties, including business uncertainties
relating to government regulation of our industry, market demand, reliance on
key personnel, future capital requirements, competition in general and other
factors that may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected. Certain of
these risks and uncertainties are or will be described in greater detail in our
filings with the Securities and Exchange Commission. These forward-looking
statements are based on ChinaNet’s current expectations and beliefs concerning
future developments and their potential effects on the company. There can be no
assurance that future developments affecting ChinaNet will be those anticipated
by ChinaNet. These forward-looking statements involve a number of risks,
uncertainties (some of which are beyond the control of the Company) or other
assumptions that may cause actual results or performance to be materially
different from those expressed or implied by such forward-looking statements.
ChinaNet undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required under applicable securities
laws.
For
further information, contact:
|
Mark
Elenowitz
|
Ted
Haberfield
|
|
TriPoint
Capital Advisors
|
HC
International, Inc.
|
|
US
+1-917-512-0822
|
US
+1-760-755-2716
|
|
thaberfield@hcinternational.net
|
|
|
www.hcinternational.net
|