ZW Data Action Technologies Inc. — Director's Dealing 2011

Sep 6, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ChinaNet Online Holdings, Inc. (CNET)
CIK: 0001376321
Period of Report: 2011-08-31

Reporting Person: Liu Xuanfu (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-31	Common Stock, par value $0.001	P	1700	$1.2141	Acquired	7445033	Indirect
2011-09-01	Common Stock, par value $0.001	P	3172	$1.25	Acquired	7448205	Indirect
2011-09-02	Common Stock, par value $0.001	P	3000	$1.5493	Acquired	7451205	Indirect

Footnotes

F1: Represents the weighted average purchase price for the reported transactions. The range of prices for such transactions was $1.21 to $1.25.

F2: Represents the weighted average purchase price for the reported transactions. The range of prices for such transactions was $1.45 to $1.60.

F3: The reporting person undertakes to provide upon request by the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price.