Wah Fu Education Group Limited (WAFU) has seen a decline of 6.82% in the aftermarket. However, the last trading session closed at $4.4 with a decline of 7.95%.
About WAFU
Wah Fu Education Group Limited is based in Beijing, China, and offers online training and test preparation, as well as associated training materials and technological solutions, to both institutions and students.
New Regulations by WAFU – Revealed!
On 27th July 2021, WAFU issued new rules and opinions that will help reduce the burden of homework on school students. The Opinions provide policy advice on the standards and constraints that apply to schools providing discipline-based off-campus tutoring and training. WAFU, on the other hand, concentrates on adult remote learning material and education technology services. Moreover, the Chinese government, on the other hand, is supportive of Wah Fu’s educational technology and infrastructural services.
First Half Fiscal Year 2021 Results – What’s up?
On 31st March 2021, WAFU revealed results for the first half of the fiscal year 2021. According to the reports, the net revenue climbed to $1.80 million. It increased because of the increased revenue from online educational services. Moreover, the online education revenue also rose to $1.74 million, and this increase was all because of B2B2C revenues.
Furthermore, the gross profit increased from $1.44 million to $2.43 million. General and administrative expenditures fell by $0.33 million to $0.93 million. The drop was mostly attributable to the government’s argument that the corporation was free from social insurance for the six months ending September 30, 2020, owing to COVID-19’s impact. Lastly, total operating expenditures declined by $0.28 million, or 13.9 percent, to $1.74 million in the six months ended September 30, 2020.
WAFU partners with Chengdu Neusoft University – What’s the new update?
On 21st November 2019, WAFU reported that it has signed an agreement with Chengdu Neusoft University. For Neusoft University, Wah Fu will create and operate a unique online education platform that includes online courses, self-taught assessments, administration, and student management services, and more. Furthermore, the agreement will last for one year.
So what?
Neusoft University joins the increasing list of institutional clients, which now includes over 100 authorized institutions and colleges. The company is excited to work with Neusoft University, where the patented online training and educational solutions and services will help over 10,000 students, professors, and staff significantly. Lastly, the company looks forward to creating a fruitful collaboration with Neusoft University.
