Wah Fu Education Group Ltd. (中国)

The Company is primarily engaged in providing online education services and technological development and operation services in China.
The Company through its subsidiaries, provides online exam preparation services and related technology solutions in the People s Republic of China.
The Company has determined that it has two operating segments: online education services, and technological development and operation service.
- The online education services provided by the Company to its customers are an integrated service, including audio-video course content, mock examinations and online chat rooms during the subscription service period. Audio-video course content, mock examinations and online chat rooms are not practical to be sold on standalone basis and have never been sold separately. The online education segment consists of two types of online services: Online Education Cloud Service (“B2B2C”) and Online Training Service (“B2C”).
Technological development and operation service including information technology system design and cloud platform development, are recognized when the system or platform are delivered and accepted by the customers. , normally within a year. Upon delivery of services, project completion inspection and customer acceptance notice are required as proof of the completion of performance obligations, which is a confirmation of customer to its ability to direct the use of and obtain substantially all of the benefits from, the design and development service.
HISTORY
2012 The Company was incorporated under the laws of the British Virgin Islands on July 23, 2012. In December 2012, the Company acquired 100 equity interest of Beijing Huaxia Dadi Distance Learning Services Co., Ltd.
2019 The Company s common stock began trading on the NASDAQ Global Market under the symbol “WAFU” on April 30, 2019.