GlobeNewswire Inc | Aug 16, 2021 08:30AM EDT

August 16, 2021

WUXI, China, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Skillful Craftsman Education Technology Ltd. (the Company or Skillful Craftsman) (NASDAQ: EDTK), an education technology company providing interactive online learning services, today announced that its board of directors (the Board) has appointed Mr. Shaowei Zhang as a new independent director of the Board to succeed Mr. Limin Huang, who has resigned on August 13, 2021.

Mr. Shaowei Zhang is the founder of First High-School Education Group Co., Ltd ("First High-School Education") (NYSE: FHS). Mr. Zhang has served as the chairman of board of directors and chief executive officer of First High-School Education since September 2018. Prior to founding First High-School Education, Mr. Zhang established and served as the principal of Kunming Qihang Education and Training School and Kunming Epoch Giant Tutorial School in 2006 and 2009, respectively. Mr. Zhang established Kunming College Student Private Tutorial Services Station and Kunming Xindenuo Accounting Training Center in 2003 and 2004, respectively. Mr. Zhang serves as a member of the Yunnan Provincial Committee of the Chinese Peoples Political Consultative Conference and a director of Long-Spring Institute of Learning and Human Development of Tsinghua University. Mr. Zhang received his bachelors degree in accounting in 2006 and his masters degree in business administration in 2012 from Kunming University of Science and Technology. Mr. Zhang is currently pursuing his doctorate degree in education from Tsinghua University.

Mr. Zhang has been determined by the Board to satisfy the independence requirements of Rule 5605(c)(2) of the Listing Rules of the Nasdaq Stock Market and Rule 10A-3 under the Securities Exchange Act of 1934, as amended. Immediately following the appointment of Mr. Zhang, the Companys Board will consist of five directors, including three independent directors. The Companys Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee will continue to solely comprise independent directors with the following compositions.

Nominating and Audit Committee Compensation Committee Corporate Governance CommitteeChairperson Steven Yuan Ning Sim Shaowei Zhang Huiqing YeMember Shaowei Zhang Steven Yuan Ning Sim Steven Yuan Ning SimMember Huiqing Ye Huiqing Ye Shaowei Zhang

Mr. Xiaofeng Gao, Chairman and Co-Chief Executive Officer of Skillful Craftsman, commented, We are excited to welcome Mr. Shaowei Zhang to join us. He is a fantastic addition to our team, and we look forward to drawing on his network, experience and insights as we conduct future direction review and implement growth strategies accordingly. We will work towards formulating a plan that will create long-term value for all shareholders.

Mr. Shaowei Zhang, Director of Skillful Craftsman, stated, I am excited to join Skillful Craftsman as a key supporter for Chinas education reform and development for labor employment with relentless focus on providing interactive online vocational training and virtual simulation experimental training courses. I look forward to partnering with the Board as the company continues to advance education technology and explore vocational education market."

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. For more information, please visit: http://ir.skillfulcraftsman.com/.

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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 managements 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 managements 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 to differ materially from any future results, performance or achievements described in or implied by such statements. 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. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.

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