Wah Fu Education Group Limited Ordinary Shares - WAFU STOCK NEWS

Wah Fu Education Group (NASDAQ: WAFU) has announced its entry into educational AI and informatization. The company, known for online education and exam preparation services, has established a new subsidiary through Beijing Huaxia Dadi Distance Learning Services Co., This venture aims to explore smart education, smart psychology, and digital learning using patented technologies and an AI R&D team.

Wah Fu aims to capitalize on China's growing smart education industry, which has a market size of over RMB one trillion (about USD 150 billion). The sector is expected to continue expanding due to rapid development in education informatization, policy support, and high market demand.

Wah Fu Education Group (WAFU) announced unaudited financial results for the six months ended September 30, 2023, showing a 33.1% decrease in revenue, 26.0% decrease in gross profit, and 75.6% decrease in income from operations. Net income also decreased by 88.2% compared to the same period in the prior fiscal year.

Wah Fu Education Group Limited (NASDAQ: WAFU) announced its unaudited financial results for the six months ended September 30, 2022. Revenue declined by 6.1% to $5.45 million, primarily due to a decrease in one course offering. Gross profit fell 18.1% to $2.79 million, with gross margins at 51.1%. Operating income increased 62.4% to $1.12 million, leading to a net income rise of 77.8% to $1.06 million, or $0.19 per share. The company experienced significant cost reductions, with total operating expenses decreasing 38.5% to $1.67 million. Despite these challenges, cash reserves were $10.83 million as of September 30, 2022.

Wah Fu Education Group Limited (NASDAQ: WAFU) announced cooperation agreements to develop online education platforms with Sichuan International Studies University and Dotease Information Technology. The agreements involve creating an Online Course Platform and a Vocational Skills Level Evaluation Examination Training and Examination Platform. The company will handle platform development, maintenance, and education solutions to enhance user experience while cutting operational costs. This collaboration aims to respond to the growing demand for online education and improve the company's standing in the educational technology sector.

Wah Fu Education Group Limited (NASDAQ: WAFU) announced that the recent Chinese policy on reducing homework and off-campus training will not significantly impact its operations or financials. The company focuses on adult education and technology services, which are encouraged by the government. Wah Fu does not engage in K-12 tutoring services and has no plans to expand into that area. The firm remains compliant with relevant laws and policies.

Wah Fu Education Group (NASDAQ:WAFU) reported strong financial results for the six months ending September 30, 2020. Revenue surged by 72.1% to $4.30 million, driven mainly by increased online education services due to COVID-19. Gross profit also rose significantly, up 146.5% to $2.43 million, with a gross margin of 56.5%. The company recorded an operating income of $0.69 million, reversing a loss from the previous year. Net income stood at $0.51 million, or $0.09 per share, compared to a loss in the same period last year.