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Wah Fu Education Group Ltd

For the period ended Mar 31, 2024. Filed Jul 30, 2024.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Jul 30, 2024

WAFU$1.40-1.4%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended March 31,2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report:

Commission file number:001-38619

Wah Fu Education Group Ltd.

(Exact name of Registrant as Specified in its Charter)

British Virgin Islands

(Jurisdiction of Incorporation or Organization)

L207b, Hesheng Fortune Plaza, No.13 Deshengmenwai Street

Xicheng District, Beijing, China 100088

(Address of Principal Executive Offices)

Yang Yu

Tel:+ 86 10 59942599 Fax:+ 86 10 85171378

L207b, Hesheng Fortune Plaza, No.13 Deshengmenwai Street

Xicheng District, Beijing, China 100088

(Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading symbolName of Each Exchange On Which Registered
Ordinary shares, par value US$0.01 per shareWAFUNASDAQ Capital Market

Securities registered or to be registered pursuant to Section 12(g) of the Act:

None

(Title of Class)

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

None

(Title of Class)

The number of outstanding shares of each of the issuer’s classes of capital or common stock as of March 31, 2024 was:4,410,559 ordinary shares, par value $0.01 per share.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes☐ No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐Accelerated filer ☐Non-accelerated filer ☒Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards † provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

☒ U.S. GAAP☐ International Financial Reporting Standards as issued by the International Accounting Standards Board☐ Other

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow:

Item 17☐ Item 18☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes☐No☒

WAH FU EDUCATION GROUP LIMITED

FORM 20-F ANNUAL REPORT

TABLE OF CONTENTS

Page
PART I1
Item 1.Identity of Directors, Senior Management and Advisers4
Item 2.Offer Statistics and Expected Timetable4
Item 3.Key Information5
Item 4.Information on the Company55
Item 4A.Unresolved Staff Comments83
Item 5.Operating and Financial Review and Prospects84
Item 6.Directors, Senior Management and Employees99
Item 7.Major Shareholders and Related Party Transactions105
Item 8.Financial Information105
Item 9.The Offer and Listing106
Item 10.Additional Information106
Item 11.Quantitative and Qualitative Disclosures about Market Risk119
Item 12.Description of Securities Other than Equity Securities119
PART II120
Item 13.Defaults, Dividend Arrearages and Delinquencies120
Item 14.Material Modifications to The Rights Of Security Holders and Use Of Proceeds120
Item 15.Controls And Procedures120
Item 16.[Reserved]122
Item 16A.Audit Committee Financial Expert122
Item 16B.Code Of Ethics122
Item 16C.Principal Accountant Fees and Services122
Item 16D.Exemptions From the Listing Standards for Audit Committees122
Item 16E.Purchases of Equity Securities by the Issuer and Affiliated Purchasers122
Item 16F.Change in Registrant’s Certifying Accountant122
Item 16G.Corporate Governance123
Item 16H.Mine Safety Disclosure123
Item 16IDisclosure Regarding Foreign Jurisdictions that Prevent Inspections123
Item 16JInsider Trading Policies123
Item 16KCybersecurity124
PART III125
Item 17.Financial Statements125
Item 18.Financial Statements125
Item 19.Exhibits125

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