Skillful Craftsman Education Tech Files 20-F
Ticker: EDTK · Form: 20-F · Filed: Aug 19, 2024 · CIK: 1782309
Sentiment: neutral
Topics: annual-report, education-technology, financials
TL;DR
Skillful Craftsman Education Tech dropped its 20-F, check financials for FY ending March 31, 2024.
AI Summary
Skillful Craftsman Education Technology Ltd filed its annual 20-F report for the fiscal year ending March 31, 2024. The filing details the company's financial position and operations, including its fiscal year end and incorporation state. Key financial data points from previous fiscal years, such as common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income for the periods ending March 31, 2021, 2022, and 2023, are also provided.
Why It Matters
This filing provides investors with a comprehensive overview of Skillful Craftsman Education Technology Ltd's financial health and operational status for the past fiscal year, crucial for investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard annual report (20-F) for a publicly traded company, which inherently carries market and operational risks, but doesn't indicate immediate distress.
Key Numbers
- 2024-03-31 — Fiscal Year End (Indicates the end of the reporting period for the 20-F filing.)
- 2023-04-01 — Fiscal Year Start (Marks the beginning of the reporting period for the 20-F filing.)
- 2021-03-31 — Prior Fiscal Year End (Provides historical financial data for comparison.)
Key Players & Entities
- Skillful Craftsman Education Technology Ltd (company) — Filer of the 20-F report
- 0001782309 (company) — Central Index Key for Skillful Craftsman Education Technology Ltd
- 20240331 (date) — Conformed period of report
- 20240819 (date) — Filed as of date
- 001-39360 (company) — SEC File Number
FAQ
What is the primary business of Skillful Craftsman Education Technology Ltd?
The filing identifies the company under the Standard Industrial Classification code 8200, which corresponds to 'SERVICES-EDUCATIONAL SERVICES', indicating its primary business is in education technology.
What is the company's registered address?
The company's business and mailing address is listed as Floor 4, Bldg 1, No. 311 Yanxin Rd, Huishan Qu, Wuxi Shi, F4, 214406.
When did the company's fiscal year 2024 reporting period begin?
The fiscal year 2024 reporting period began on April 1, 2023.
What types of financial accounts are detailed for the fiscal years ending March 31, 2021, 2022, and 2023?
The filing details accounts including Common Stock, Additional Paid-In Capital, Statutory Reserve, Retained Earnings, and Accumulated Other Comprehensive Income for these periods.
What is the company's state of incorporation?
The company's state of incorporation is listed as E9.
Filing Stats: 4,608 words · 18 min read · ~15 pages · Grade level 14.5 · Accepted 2024-08-16 20:36:54
Key Financial Figures
- $0.0002 — Registered Ordinary shares, par value $0.0002 per share EDTK NASDAQ Capital Marke
- $1.00 — al Reserve System, that is RMB7.2308 to $1.00. 1 FORWARD-LOOKING STATEMENTS Thi
- $582,098 — nsferred RMB 4.0 million (approximately $582,098) to the VIE as repayment of the VIE's l
Filing Documents
- form20-f.htm (20-F) — 3418KB
- ex2-1.htm (EX-2.1) — 39KB
- ex8-1.htm (EX-8.1) — 6KB
- ex12-1.htm (EX-12.1) — 19KB
- ex12-2.htm (EX-12.2) — 19KB
- ex13-1.htm (EX-13.1) — 8KB
- ex13-2.htm (EX-13.2) — 8KB
- ex15-1.htm (EX-15.1) — 9KB
- ex15-2.htm (EX-15.2) — 9KB
- ex15-3.htm (EX-15.3) — 4KB
- ex19-1.htm (EX-19.1) — 49KB
- ex97-1.htm (EX-97.1) — 41KB
- form20-f_001.jpg (GRAPHIC) — 281KB
- ex15-1_001.jpg (GRAPHIC) — 23KB
- ex15-2_001.jpg (GRAPHIC) — 4KB
- ex15-2_002.jpg (GRAPHIC) — 11KB
- ex15-3_001.jpg (GRAPHIC) — 20KB
- 0001493152-24-032909.txt ( ) — 14252KB
- edtk-20240331.xsd (EX-101.SCH) — 89KB
- edtk-20240331_cal.xml (EX-101.CAL) — 131KB
- edtk-20240331_def.xml (EX-101.DEF) — 312KB
- edtk-20240331_lab.xml (EX-101.LAB) — 535KB
- edtk-20240331_pre.xml (EX-101.PRE) — 486KB
- form20-f_htm.xml (XML) — 2410KB
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS 2 PART I 3 Item 1. Identity of Directors, Senior Management and Advisers 3 Item 2. Offer Statistics and Expected Timetable 3 Item 3. Key Information 3 Item 4. Information on the Company 53 Item 4A. Unresolved Staff Comments 78 Item 5. Operating and Financial Review and Prospects 78 Item 6. Directors, Senior Management and Employees 94 Item 7. Major Shareholders and Related Party Transactions 101 Item 8. Financial Information 102 Item 9. The Offer and Listing 102 Item 10. Additional Information 103 Item 11.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 119 Item 12.
Description of Securities other than Equity Securities
Description of Securities other than Equity Securities 120 PART II 121 Item 13. Defaults, Dividend Arrearages and Delinquencies 121 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 121 Item 15.
Controls and Procedures
Controls and Procedures 121 Item 16A. Audit Committee Financial Expert 123 Item 16B. Code of Ethics 123 Item 16C. Principal Accountant Fees and Services 123 Item 16D. Exemptions from the Listing Standards for Audit Committees 123 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 124 Item 16F. Change in Registrant's Certifying Accountant 124 Item 16G. Corporate Governance 124 Item 16H. Mine Safety Disclosure 124 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 124 Item 16J. Insider Trading Policy 124 Item 16K. Cybersecurity 124 PART III 125 Item 17.
Financial Statements
Financial Statements 125 Item 18.
Financial Statements
Financial Statements 125 Item 19. Exhibits 125 i INTRODUCTION In this annual report on Form 20-F, unless otherwise indicated or the context otherwise requires: "we," "us," "our," the "Company," "our company" or similar terms refers to Skillful Craftsman Education Technology Limited, a Cayman Islands exempted company, and its wholly owned Hong Kong subsidiary Easy Skills Technology Limited, 75% owned Singaporean subsidiary Le First Skillland Pte. Ltd., wholly owned PRC subsidiary Skillful Craftsman Network Technology (Wuxi) Limited and its subsidiaries, and when describing our consolidated financial information and corporate structure, also includes the VIE; "Skillful Craftsman" refers to Skillful Craftsman Education Technology Limited, a Cayman Islands exempted company; "Hong Kong subsidiary" refers to Easy Skills Technology Limited, a wholly owned subsidiary of Skillful Craftsman in Hong Kong; "Craftsman Wuxi" or "WOFE" refers to Skillful Craftsman Network Technology (Wuxi) Limited, a wholly owned subsidiary of Skillful Craftsman in China through Hong Kong subsidiary; "Jisen Information" refers to Shenzhen Qianhai Jisen Information Technology Ltd., a wholly owned subsidiary of Craftsman Wuxi in China; "Kingway Cloud" refers to Wuxi Kingway Cloud Technology Co., Ltd., a wholly owned subsidiary of Wuxi Wangdao in China; "Wuxi Talent Home" refers to Wuxi Talent Home Information Technology Co., Ltd., a minority owned subsidiary of Craftsman Wuxi in China; "PRC subsidiaries" refers to Craftsman Wuxi, Jisen Information and Wuxi Talent Home; "Singaporean subsidiary" refers to Le First Skillland Pte. Ltd., a 75% owned subsidiary of Skillful Craftsman; "VIE" or "Wuxi Wangdao" refers to Wuxi Kingway Technology Co., Ltd., the variable interest entity in China; "China" or the "PRC" refers to the People's Republic of China; "Renminbi" or "RMB" refers to the legal currency of the People's Republic of China; "U.S. dollars," "dollars" or "$" re
Identity
Item 1. Identity of Directors, Senior Management and Advisers Not applicable.
Offer
Item 2. Offer Statistics and Expected Timetable Not applicable.
Key
Item 3. Key Information Investing in our securities involves a high degree of risk. Please carefully consider the risks discussed under the section entitled "Item 3. Key Information—D. Risk Factors" in this annual report. We provide the following disclosure to help investors better understand our corporate structure, operations in China and the associated risks. Our Corporate Structure and Contractual Arrangements with the VIE and Its Shareholders Skillful Craftsman Education Technology Limited, or Skillful Craftsman, is not a Chinese operating company but a Cayman Islands exempted company with operations primarily conducted by its subsidiaries and variable interest entity, or the VIE, which involves unique risks to investors. Neither Skillful Craftsman nor its subsidiaries own any equity interest or direct foreign investment in the VIE, Wuxi Kingway Technology Co., Ltd. The VIE structure is used to provide investors with exposure to foreign investment in China-based companies where PRC law prohibits direct foreign investment in the operating companies in China. PRC laws and regulations restrict and impose conditions on foreign investment in internet-based businesses, including online education services. Accordingly, these businesses are operated by the VIE in China. Skillful Craftsman does not own these operations but relies on contractual arrangements among the WOFE, the VIE and the VIE's nominee shareholders, which allow Skillful Craftsman to (i) direct the activities of the VIE that most significantly impact the VIE's economic performance, (ii) receive substantially all of the economic benefits and absorb substantially all of the losses of the VIE, and (iii) have an exclusive option to purchase all or part of the equity interests in the VIE when and to the extent permitted by PRC law. Because of these contractual arrangements, Skillful Craftsman is considered the primary beneficiary of the VIE for accounting purposes and is able to consolidate the financia