Online Training Firm Dong'ao to IPO on ChiNext

Shanghai Securities News, 12/01/09

Wang Songtao, president of Beijing-based online education provider Dong'ao Era Education Science & Technology Co., Ltd., has revealed that the company has made preparations to IPO on the Shenzhen Stock Exchange's ChiNext growth enterprise board, and plans to bring in additional private equity before the listing. The company's online accountant training platform Dongao.com has recorded net profit growth of 300% in less than two years of commercial operation, and expects accumulated net profit for 2008-2010 to reach RMB 30 mln.

Dong'ao originally focused on the accountant training textbook market, holding over 80% of the market. Dong'ao entered the accountant distance training business in 2007.

Keywords: Wang Songtao Dong'ao ChiNext financing market share Internet IPO profit online education Shenzhen Stock Exchange bourse GEB

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