Skillful Craftsman Education Tech Ltd. (EDTK) stock prices were up by 3.21% as of the market closing on September 13th, 2021. This brought the price per share up to USD$1.61 at the end of the trading day. Subsequent premarket fluctuations saw the stock dip by 9.94%, bringing it down to USD$1.45.
EDTK Stock Partners with WTH
August 10th, 2021 saw EDTK stock announce a strategic partnership with Wuxi Talent Home Information Technology Co., Ltd. (WTH). The collaboration will combine the company’s expertise in vocational education with WTH’s market leadership in regional flexible staffing. This is hoped to better serve both talents and employers. The synergy between the education technology company and the flexible staffing platform is expected to benefit both parties involved.
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Details of Collaboration
As per the agreement EDTK stock will provide its partner with elementary skills training courses free of cost. WTH will also be provided with paid vocational skills certificate training courses, as well as having its business scale expanded. This expansion will be facilitated by increasing customer channels. WTH has agreed to share corresponding revenue with the company as consideration.
Scope of EDTK Stock’s Partnership
A research report by iResearch has pegged the flexible staffing market in China at roughly USD$100.58 million in 2020. This valuation is expected to grow at a compound rate of 25% until 2025. Many flexible staffing platforms in China lack the technical advantage and brand awareness to capitalize on the huge market potential. Accordingly, the combination of a flexible staffing platform and a skill training platform will serve as a solid foundation to build brand awareness and establish technical barriers.
EDTK stock’s collaboration with WTH has proved to be a landmark milestone in the company’s strategic development. The company hopes to effectively increase its user stickiness and boost revenue with the provision of vocational skills training that is commensurate with the actual needs of employers. The benefits of the collaboration will also be facilitated by the application of embedded cooperation of internet platform technology and flexible staffing platform. The partnership will also allow WTF to replicate this model and facilitate an overall expansion to other regions.
Future Outlook for EDTK Stock
EDTK stock reported a promising quarter, consolidated by changes in management and an expansive partnership with WTH. The company is keen to continue leveraging the additional resources at its disposal. Current and potential investors are hopeful that this will result in significant and sustained increases in shareholder value over the long term.