WUXI, China, March 2, 2022 /PRNewswire/ -- Skillful Craftsman Education Technology Ltd. ("the Company") (NASDAQ: EDTK), an education technology company providing interactive online learning services, announced that the Company entered into a strategic cooperation agreement (the "Agreement") with Jiangsu Hibao Tech Software Co., Ltd. ("Hibao"), a smart factory technology provider, to develop its Meta-Factory, a smart technical skills training Metaverse platform.
Pursuant to the Agreement, both parties agree to develop Meta-Factory for providing vocational colleges and manufacturing industry customers with multi-person collaborative and multi-scene simulation training bases, which are designed to help them effectively cater to the fast-evolving labor market of manufacturing factories. Hibao agrees to provide basic data of manufacturing industry, and the Company agrees to be responsible for building the virtual reality ("VR") smart operation platform and constructing vocational training bases.
Applied VR and augmented reality ("AR") technology with advanced immersive user interaction designing, Meta-Factory is designed to help students simulate the operation of each step in a smart factory and enhance their learning experience in a high-quality virtual simulation environment. Integrated various types of production data, three-dimensional spatial data, management data, personnel data, and other static data input by sensors and networks, Meta-Factory is expected to duplicate virtual factory buildings, workshops, equipment, personnel, production environment, and dynamic production process of a factory on a full scale with three-dimensional simulation display and full range adjustment and scene switching. Based on the cloud-based collaborative application module, Meta-Factory can achieve synchronization of time, data, location, production process, and personnel, leading to real-time production process monitoring and monitoring and management of production, logistics, and space, equipment, and personnel. Meta-Factory will also support the interaction and communication between students in different positions.
Mr. Xiaofeng Gao, Chairman and Co-CEO of Skillful Craftsman, commented, "We are very excited to cooperate with Hibao to develop our Meta-Factory by leveraging respective advantages and have a high expectation for what Meta-Factory can bring to the vocational education industry. Building a Metaverse platform is significant for vocational students to have an immersive skills training experience that meets the trend of the industry. Following the guideline of the Chinese government and its plan to promote vocational education, we are committed to serving students and vocational colleges with our technologies and upgraded skill training platform and helping them meet the rapid development trend of the modern smart factories. The development of Meta-Factory is a significant milestone for the Company to pave the way to achieve a long-term goal of providing high-quality trainings to students."
About Jiangsu Hibao Tech Software Co., Ltd.
Founded in 2009, Jiangsu Hibao Tech Software Co., Ltd. is a high-tech enterprise specializing in providing "Cloud + Terminal + Application" smart factory solutions for manufacturing enterprises and software and hardware development based on "Integration of Informatization and Industrialization" and "industry 4.0". It has provided smart factory construction and transformation services for more than 500 domestic and abroad customers over years. It has rich experience in the digitization, transparency and intelligence of the whole process of manufacturing enterprises.
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.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
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