Skillful Craftsman Enters into Strategic Cooperation Agreement to Participate in National Pilot Project of “Education Certificate + Several Vocation Skill Level Certificates”

11/23/2020 - 08:30 AM

WUXI, China, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Skillful Craftsman Education Technology Ltd. (“the Company”) (NASDAQ: EDTK), an education technology company providing interactive online learning services, today announced that the Company has entered into a strategic cooperation agreement (the “Agreement”) with Tianfu Institute of International Big Data Strategy Technology (“TIBD”) on November 11, 2020 to participate in the national pilot project of “Education Certificate + Several Vocational Skill Level Certificates”(“1+X”). The purpose of the 1+X pilot project is to allow students to obtain certificates of various vocational skills at the same time of obtaining academic certificates.

TIBD has actively participated in the “1+X” pilot project and successfully developed “Big Data Governance” Vocational Skill Level Certificate, which is one of the vocational skill level certificates of “1+X” and was officially approved and publicized by an inter-ministerial joint meeting on vocational education of the State Council in September 2020. As of November 18, 2020, 320 companies have participated in the “1+X” pilot project.

As part of the Agreement, both parties agree to cooperate, for an initial three-year period, in the development and operation of the “China Big Data Educational Cloud” as well as the development of the learning resources platform for “Big Data Governance” Vocational Skill Level Certificate. TIBD agrees to provide the Company with experts, talent, content and associated support while the Company agrees to provide comprehensive online educational cloud service technology, hardware, software and other related operational supporting services that are necessary.

Additionally, both parties agreed to cooperate in the funding of several related projects of the pilot project of the “1+X” Vocational Skill Level Certificate, among which the Company expects to contribute about RMB 9 million. TIBD has agreed to support the Company’s participation in the project and provide experts, channels, experience and other assistance.

Mr. Xiaofeng Gao, Chairman and CEO of Skillful Craftsman Education Technology Ltd., commented, “We're a technology innovation company that is established to meet the evolving needs of the market. Our cooperation with TIBD will enable us to continue improving our business model, forming closer partnerships, and making good use of national policies. The cooperation also augments the strength of our brand. Our expertise, industry experience, and market coverage make it possible for us to seize opportunities timely and put our business strategy into practice. By participating in the “1+X” pilot project, we hope to expand market share, diversify our business model and create more value to all of our shareholders.”

About Tianfu Institute of International Big Data Strategy Technology

Founded in July 13, 2018, Tianfu Institute of International Big Data Strategy Technology(“TIBD”) is a scientific research enterprise jointly established by SCIG Information Industry Group Co., Ltd, a top-tier big data research team from Chinese Academy of Sciences (CAS) led by Professor Yong Shi, and Chengyue Project Consulting Group. TIBD focuses on introducing, transforming international advanced technologies of big data, conducting research of big data, artificial intelligence, Internet of Things (IOT) and others, incubating and investing in big data associated projects, building big data platforms for industrial application, and cultivating big data talents with globalized visions.

About Skillful Craftsman

Skillful Craftsman is an education technology company that provides interactive online vocational training and virtual simulation experimental training courses. The Company began operations in Wuxi, China in 2013 and is a key supporter for China education reform and development for labor employment. As of March 31, 2020, the Company had 68.5 million total registered members, of which 3.1 million are fee-paying members. For more information, please visit: ir.kingwayup.com.

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For investor and media enquiries, please contact:

Skillful Craftsman

Investor Relations Department

Email: iredtk@kingwayedu.cn

Ascent Investor Relations LLC

Tina Xiao

Tel: +1 917-609-0333

Email: tina.xiao@ascent-ir.com