BEIJING, China, Sept. 19, 2019 (GLOBE NEWSWIRE) -- Wah Fu Education Group Limited (“Wah Fu” or the “Company”) (NASDAQ: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 strategic cooperation agreement (the “Agreement”) with Guangzhou Modern Information Engineering College (“Guangzhou Modern”), a higher vocational college with over 12,700 students based in Guangzhou, China.
Pursuant to the Agreement executed by and between the two parties earlier this month, Wah Fu will provide the administrators, staffs, teachers and students of Guangzhou Modern with its proprietary online education and training program developed to capture market demand driven by the “1+X” policy announced by the Ministry of Education in early 2019, which currently offers over 5,000 online courses and training materials targeted for higher vocational students. The “1+X” policy is established to encourage students obtain multiple vocational technology training certificates during their college period. Additionally, Wah Fu will develop a customized online education system for Guangzhou Modern which includes online courses, self-study examination, administration and student management services, etc.
Mr. Yang Yu, Chairman of Wah Fu commented, “We are pleased to partner with Guangzhou Modern and honored to extend our proprietary online education solution to China Modern’s over 12,700 students. China’s online education and training services market is rapidly evolving, driven by growing China’s economy, increasing internet and broadband penetration rate and increasing awareness of the importance of higher and professional education. We expect to take advantage of this favorable market trend and continue to grow our business through further expansion of product portfolio and institutional client base.”
About Guangzhou Modern Information Engineering College
Guangzhou Modern Information Engineering College (“Guangzhou Modern”) is a full-time higher vocational and technological education college approved by the Guangdong provincial government and registered with the Ministry of Education of China. Based in Guangzhou City, Guangdong Province, Guangzhou Modern offers programs in continuing education, information engineering, mechanical and electrical engineering, automobile engineering, architectural engineering, business administration, economics, business English, art and design, etc. and currently has over 12,700 students enrolled. For more information about Gaungzhou Modern, please visit: http://www.gzmodern.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.
For more information, please contact:
At the Company:
Email: ashely.ai@horwathcapital.com.cn
Investor Relations:
Tony Tian, CFA
Weitian Group LLC
Email: ttian@weitianco.com
Phone: +1-732-910-9692