ChinaEdu posts 2007 financial results

Nasdaq-listed ChinaEdu Corporation, an educational services provider in China, announced on Thursday its unaudited financial results for the fourth quarter and fiscal year ended Dec. 31, 2007.

For the fourth quarter of 2007, net revenue rose 37.6% to RMB 79.6 million (US$10.9 million) from RMB 57.9 million for the corresponding period in 2006. Net revenue from online degree programs, the core business segment of ChinaEdu, increased by 54.5% to RMB 64.8 million (US $8.9 million) for the fourth quarter of 2007 from RMB 41.9 million for the corresponding period in 2006.

For the fiscal year 2007, net revenue rose 24.1% to RMB 265.0 million (US$36.3 million) from RMB 213.5 million for the fiscal year 2006. Net revenue from online degree programs for the fiscal year 2007 increased by 28.9% to RMB202.2 million (US$27.7 million) from RMB156.8 million for the fiscal year 2006.

ChinaEdu Corporation is a leading educational services provider in China, incorporated as an exempted limited liability company in the Cayman Islands in 1999. They offer comprehensive services to the online degree programs of leading Chinese universities.