Skillful Craftsman Education Technology Limited (EDTK) stock soared 9.40% in the pre-market trading session at the price of $1.28 despite no fundamental reason. The last published news was the appointment of Mr. Shaowei Zhang as the new independent director. EDTK is an education technology company that offers virtual vocational training courses and experimental coaching sessions.
EDTK Reported Changes in Board of Directors
On 16th August 2021, EDTK published changes to its board of directors. The company has appointed Mr. Shaowei Zhang as the new independent director. He succeeded Mr. Limin Huang, who had resigned on 13th August 2021.
Mr. Shaowei Zhang is the founder of First High-School Education Group. He has served as the chairman of the Board of Directors and CEO of First-High School Education since September 2018. Previously, Mr. Zhang has worked as the principal of Kunming Qihang Education and Training School in 2006. He has a bachelor’s degree in accounting and received his master’s degree in business administration from Kunming University of Science and Technology.
Management Commentary
Co-Chief Executive Officer and Chairman of EDTK, Mr. Xiaofeng Gao, remarked that they are delighted to welcome Mr. Shaowei Zhang to EDTK. He is an excellent addition to their team, and they hope his experience and insights will further lead their growth strategies accordingly. They will work together towards formulating a plan to create a long-term value for shareholders, he added.
Mr. Shaowei Zhang stated that he is excited to join EDTK as a leading supporter of China’s education reform and development. He looks forward to directing the board as the company advances in education technology and vocational education market, he added.
Partnership with Wuxi Talent Home Information Technology
On 10th August 2021, EDTK published a strategic partnership with Wuxi Talent Home Information Technology. WTH is one of the biggest staffing platforms in Jiangsu Province. The strategic collaboration will unite EDTK’s vocational education expertise with Wuxi’s flexible staffing market to better serve employers. As per the deal, EDTK will provide free introductory skills training courses and paid vocational skills certificate training courses to Wuxi. The company will also assist WTH in expanding its business scale by growing customer channels.
Mr. Xiaofeng Gao remarked that this cooperation is a pivotal step towards their strategic development. They can effectively improve their user’s growth and boost revenue by offering vocational skills training. The experience from this partnership will help them develop a solid foundation for business growth, he added.
