Wah Fu Education Group Limited (NASDAQ: WAFU) is a Beijing-based online training and exam prep services provider. Shares of the Chinese online training company are soaring 103.17%, through late trading on Thursday, November 21, 2019. Over the past three months, Wah Fu Education Group has seen average daily volume of 8,880 shares. However, volume of 4.88 million shares or dollar volume of $12.49 million, has exchanged hands through late trading on Thursday.
Shares of Wah Fu Education Group are skyrocketing on Thursday, after the company announced that it has entered into a partnership agreement with Chendu Neusoft University (CNU). CNU is a private undergrad college with a student body size of over 10,000 students. Under the terms of the agreement, Wah Fu Education will create, develop, and maintain a “customized online education platform featuring online courses, self-taught examination, and administration and student management services, etc. for Neusoft University,” according to the company. Here is the full press release detailing of the partnership:
Wah Fu Education Group Limited Press Release:
BEIJING, China, Nov. 21, 2019 (GLOBE NEWSWIRE) — Wah Fu Education Group Limited (“Wah Fu” or the “Company”) (WAFU), a provider of online training and exam preparation services, as well as related training materials and technology solutions for both institutions and individuals, today announced that it has entered into a partnership agreement (the “Agreement”) with Chengdu Neusoft University (“Neusoft University”), a private undergraduate college with over 10,000 students.
Pursuant to the Agreement, Wah Fu will develop and maintain a customized online education platform featuring online courses, self-taught examinations, and administration and student management services, etc. for Neusoft University. The Agreement has an initial term of one year.
“Neusoft University adds to our growing number of institutional clients that include over 100 accredited universities and colleges,” said Mr. Yang Yu, Chairman of Wah Fu. “We are thrilled to partner with Neusoft University where its over 10,000 students, teachers and staff are set to benefit tremendously from our proprietary online training and educational solutions and services and look forward to building a successful partnership with Neusoft University.”
About Chengdu Neusoft University
Founded in 2003 and located in Chengdu City, Sichuan Province, Chengdu Neusoft University (“Neusoft University”) is a private undergraduate college jointly approved by the Ministry of Education of China and the Chengdu Municipal Government. Neusoft University offers 20 undergraduate programs in data science, software engineering, business administration, foreign language studies, etc. and currently enrolls over 10,000 full-time and part-time students. For more information about Chengdu Neusoft, please visit: https://nsu.edu.cn/.
About Wah Fu Education Group Limited
Headquartered in Beijing, China, Wah Fu Education Group Limited provides online training and exam preparation services, as well as related training materials and technology solutions for both institutions, such as universities and training institutions, and students. For more information about Wah Fu, please visit www.edu-edu.cn.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the online training industry in China and the other markets the Company serves or plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the other markets the Company serves or plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly update these forward‐looking statements to reflect events or circumstances that arise after the date hereof.