Early Life
Lu Zhongfang was born in July 1942. Before entering the business world, she worked in a local county tax bureau. Little is known about her early life, but she later became involved in the business world.
Rise to Success
After retiring from a pesticides factory in northern China's Jilin Province in 1993, Lu Zhongfang invested in the test preparation firm Offcn in 1999. In 2008, at the age of 66, she formally joined the company, which focuses on providing tutoring and test preparation services for China's intensely competitive civil service examinations. Offcn Education Technology completed a backdoor listing at the Shenzhen Stock Exchange in 2019, which significantly increased her wealth. She became a self-made billionaire in her late 70s.
Key Business Strategies
Offcn's main business strategy has been providing test preparation services for China's civil service exams. The company operates centers and schools across China, and demand for their services has been immense due to the high value placed on government jobs. However, the company faced challenges with a refund policy that backfired during the COVID-19 pandemic, impacting the duo’s net worth. The company is run with her son, Li Yongxin.
Philanthropy
No specific information about her philanthropy was found in the search results.