Skillful Craftsman Education Technology Announces Development Progress on a New Version of its Cloud Education Platform
Skillful Craftsman Education Technology Ltd. (NASDAQ: EDTK) announced the upcoming launch of its enhanced Cloud Education Platform, expected in Q4 2020. After six months of development, the platform is in its final testing phase and aims to integrate innovative technology and structural upgrades. Key features include increased system capacity, improved security measures, and new functional add-ons, designed to enhance user experience and accommodate larger data loads. The company believes this upgrade will enable a wider variety of courses and better learning options for its 68.5 million registered members.
- Launch of the upgraded Cloud Education Platform expected in Q4 2020.
- Enhancements include better security, increased capacity, and improved user experience.
- New features like trial courses and flexible payment methods could attract more users.
- Dependence on successful completion of internal testing before launch.
- Potential risks associated with technological upgrades and market demand.
Wuxi, CHINA, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Skillful Craftsman Education Technology Ltd. (“the Company”) (NASDAQ: EDTK), an education technology company providing interactive online learning services, today announced that a new version of its Cloud Education Platform is undergoing final testing and is expected to launch in fourth quarter 2020.
The new version of its Cloud Education Platform will be designed to implement the latest innovative technology and a new structural concept. After six months of development and construction, it is now entering the final internal testing stage. The Company plans to launch the platform upon successful completion of this internal testing.
This new version of the Cloud Platform will utilize a new infrastructure that will augment capacity, security, and various front-end functional add-ons. With increased cloud and system capacity, the new infrastructure is being designed to accommodate and operate with larger data loads, providing faster processing and response times. It is anticipated that these capabilities will enable new add-on functions and will be compatible with the emerging 5G infrastructure.
Security enhancements will be deployed in the new infrastructure to improve the security and stability of the operating system, heightened information encryption, as well as anti-theft and anti-download protection for course materials and other student resources. The new infrastructure is also being designed to prevent SQL and XSS attacks.
This new infrastructure is being designed to allow for a variety of front-end functional add-ons and layout upgrades that are not offered on the current platform, so that the platform can support compatible layouts and optimized learning tools, facilitating better user habits and user experience.
Other functional add-ons such as purchase methods will be upgraded within the new infrastructure. These upgrades will be designed to enable students to take trial courses and pay as they go, according to their needs and preferences. Single point payments and discounted package purchases will be enabled and optimized for the best user experience.
Mr. Xiaofeng Gao, Chairman and CEO of Skillful Craftsman Education Technology, commented, “As a technology driven company, we continue to invest in our platform development and improve our education services. Students are using our platform to study vocational skills that can enable them to earn a living, and we understand the importance of our services. With our new Cloud Education Platform, we believe we will be able to provide better security and more user-friendly learning channels for our students. We expect that the infrastructure upgrade will enable us to upload a larger variety of courses as well as more add-on functions, and to offer our students different learning options. We are excited about our progress and we look forward to launching this powerful platform.”
About Skillful Craftsman
Skillful Craftsman is an education technology company that provides interactive online vocational training and virtual simulation experiment training courses. The Company was founded in Wuxi, China in 2013 and is a key supporter for China economic development and education reform 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.
Safe Harbor Statement
This report contains “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that represent our beliefs, projections and predictions about future events. All statements other than statements of historical fact are “forward-looking statements,” including any projections of earnings, revenue or other financial items, any statements of the plans, strategies and objectives of management for future operations, any statements concerning proposed new projects or other developments, any statements regarding future economic conditions or performance, any statements of management’s beliefs, goals, strategies, intentions and objectives, and any statements of assumptions underlying any of the foregoing. Words such as “may”, “will”, “should”, “could”, “would”, “predicts”, “potential”, “continue”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar expressions, as well as statements in the future tense, identify forward-looking statements.
Forward-looking statements are based on information available at the time those statements are made and management’s belief as of that time with respect to future events. These statements are necessarily subjective and involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any future results, performance or achievements described in or implied by such statements. Such risks, uncertainties, and other factors include, but are not limited to, our ability to improve launch and leverage new technologies, or anticipate market demand in a timely or cost-effective manner, and those factors discussed under the headings “Risk Factors”, “Operating and Financial Review and Prospects,” and elsewhere in this report. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Actual results may differ materially from expected results described in our forward-looking statements, including with respect to correct measurement and identification of factors affecting our business or the extent of their likely impact, and the accuracy and completeness of the publicly available information with respect to the factors upon which our business strategy is based or the success of our business.. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.
For more information, please contact:
In China:
Skillful Craftsman
Investor Relations Department
Email: iredtk@kingwayedu.cn
The Blueshirt Group
Ms. Susie Wang
Phone: +86 138-1081-7475
Email: susie@blueshirtgroup.com
In the United States:
The Blueshirt Group
Ms. Julia Qian
Phone: +1 973-619-3227
Email: Julia@blueshirtgroup.com
Ms. Evelyn Zhang
Phone: +1 929-215-5211
Email: evelyn@blueshirtgroup.com
FAQ
When is the launch date for the new Cloud Education Platform from EDTK?
What improvements are included in the new Cloud Education Platform by Skillful Craftsman?
How many registered members does Skillful Craftsman Education Technology have?
What is the expected impact of the new platform on EDTK's users?
What kind of technology will the new Cloud Education Platform support?
