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Skillful Craftsman Education Technology Limited (EDTK) stock surged in the premarket trading session; here’s why

In the premarket trading session, Skillful Craftsman Education Technology Limited (EDTK) stock had surged by 10.17% to $2.6 at last check. EDTK stock previously closed the session at $2.36. The EDKT stock volume traded 0.18 million shares, which was lower than the average daily volume of 0.43 million shares within the past 3 months.

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What you need to know about Skillful Craftsman Education Technology

Skillful Craftsman Education Technology Limited (“The Company” or “Skillful Craftsman”)is an education and training services company which specifically focuses on providing professional online training and financial services to understudies and graduates in the People’s Republic of China. Its schooling services cover a scope of subjects, including professional and fundamental training, along with advanced education. It works three schooling stages, including the Lifelong Education Public Service Platform that offers around 200 courses; Vocational Training stage, which gives 407 courses covering mechanics, gadgets, auto fix, and development subjects; and Virtual Simulation Experimental Training stage that offers 9 exploratory projects. The organization likewise offers techn services, including programming improvement and maintenance, hardware and software, and testing and related counseling and preparing solutions, just as cloud service offers. The company has built a client market for privately owned businesses, scholarly foundations, and government offices. Handy Craftsman Education Technology Limited was established in 2013 and is settled in Wuxi, China.

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Recent board changes and operational expansion of the company

The company has recently made some executive and board-level changes to its interior management team. Furthermore, the company is expanding its operations by engaging in new acquisitions and mergers as it has incorporated for its strategic plan for other educational service providers which seem to be a good fit for the Skillful Craftsman’s core business objective.

On 24th May 2021, Skillful Craftsman appointed a co-chief executive officer known as Mr. Bin Fu effectively. The company has stated that Mr. Fu’s addition to its executive ranks will contribute to the financial and vocational expertise solution assistance and operation management for the company’s aim of expansion for the offline business of colleges and universities as well as improvement in the internal capabilities as a listed company. Furthermore, the company is aiming to come up with a long-term source and conversion of students for the company’s certain certification project which is known by the name of “Education Certificate + Several Vocational Skill Level Certificates”.

Along with Mr. Bin Fu, there have been other significant board member changes which include the appointment of Mr. Steven Yuan NingSim, who will step down as chairperson of Nominating and Corporate Governance Committee and act in the role of audit committee financial expert by serving as the chairperson of the Audit Committee, replacing Mr. H. David Sherma. Mr. H. David Sherman will remain an independent advisor to the company. EDTK stock also appointed Mr. Huiqing Ye, who will serve as a member of the Audit Committee, and service in the Nominating and Corporate Governance Committee as its chairperson, replacing Mr. Steven Yuan NingSim.

Acquisition of Jisen Information is a great asset for Skillful Craftsman

EDTK stock has also announced the 100% acquisition of equity interest in ShenzenJisen Information Tech Limited (“Jisen Information”) which is also an integrated financial education and service provider. This acquisition will greatly benefit and expand the financial education portfolio of Skillful Craftsman’s business. Jisen Information relies on big data of the global financial market, trade simulations, cloud education curriculum systems, and customized data analysis platforms.

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