Wah Fu Education Group is a China-based online education company focused on exam preparation and training services, primarily targeting students pursuing college degrees through China's national self-study higher education examination system. Wah Fu operates through two main customer-facing models. In its B2B2C model, Wah Fu provides cloud-based education platforms to universities and training institutions, which then deliver services to their students; over 200 universities across 14 provinces use these platforms, with more than 12,900 courses available. In its B2C model, Wah Fu sells exam prep courses directly to students via web and mobile app. Wah Fu also generates revenue through technology services, developing and maintaining custom online education platforms for universities, government agencies, and private clients on a cost-plus basis. On the B2B2C side, Wah Fu provides platforms to universities for free but charges students per course, typically RMB 10–120 per class. B2C courses run RMB 50–180 per class for online-only programs, with higher-end options bundling online and in-person training. Revenue is primarily driven by student enrollment volume and courses consumed. The business is seasonal, with enrollment peaking in the two months before major national exams in April and October. Wah Fu's cost base is dominated by its technology and development team, and instructors are engaged as independent contractors, keeping teaching costs variable.