Skillful Craftsman Education Technology Limited

What they do

The company operates through Cayman, Hong Kong, PRC and other subsidiaries including Easy Skills Technology Limited, Skillful Craftsman Network Technology (Wuxi), Shenzhen Qianhai Jisen Information Technology, Skilland Digital Intelligence Limited, Le First Skillland Pte. Ltd. (75% owned, Singapore) and Giga Learning Inc. (U.S.). Its historical PRC operations were conducted through Wuxi Kingway Technology Co., Ltd., which served as its variable interest entity until the VIE Agreements were terminated on March 17, 2025. The filing identifies the company as operating in the Services-Educational Services industry, with principal executive offices in Nanshan District, Shenzhen.

Revenue drivers

• Residual education technology operations — Revenue for fiscal year ended March 31, 2026 was $14,133, versus $893,690 in fiscal 2025, representing the bulk of the near-total revenue collapse.
• Hong Kong and Singapore subsidiaries — Easy Skills Technology Limited (Hong Kong) and Le First Skillland Pte. Ltd. (75%-owned, Singapore) are named subsidiaries, though the excerpts do not attribute revenue amounts to them individually.
• U.S. subsidiary Giga Learning Inc. — Giga Learning Inc. is the company's wholly owned U.S. subsidiary; no revenue contribution is disclosed in the excerpts.
• Former VIE Wuxi Wangdao / Kingway Cloud — The VIE structure through Wuxi Kingway Technology was terminated on March 17, 2025, removing previously consolidated operations.

Recent performance

For fiscal year ended March 31, 2026, revenue was $14,133, down from $893,690 in fiscal 2025, $2.0M in 2024 and $23.1M in 2022. Net loss was $8.5M in fiscal 2026 versus $7.6M in 2025, $4.7M in 2024, $20.9M in 2023 and $1.4M in 2022. Diluted EPS was negative $0.51 in fiscal 2026, compared with negative $0.48, negative $0.31, negative $1.4 and negative $0.1 in the four preceding years. Operating cash flow was negative $1.3M in fiscal 2026, after negative $4.0M, negative $2.7M and negative $2.6M in 2025, 2024 and 2023. As of March 31, 2026, total assets were $8.5M, total liabilities $1.8M, shareholder equity $6.8M and cash and equivalents $243,204.

Strategy

The company's VIE agreements with Wuxi Kingway Technology were terminated effective March 17, 2025, meaning the company no longer operates its prior China VIE structure. It maintains a set of wholly or majority-owned subsidiaries across Hong Kong, mainland China, Singapore and the United States. The filing excerpts provided do not contain management's stated strategic priorities, planned investments or forward initiatives. As of March 31, 2026, the company retained $243,204 in cash and equivalents against a $8.5M asset base. No new product, market or capital plans are described in the provided source material.

Risks

• Revenue collapse — Revenue fell from $23.1M in fiscal 2022 to $14,133 in fiscal 2026, a decline of more than 99.9%, leaving minimal operating scale.
• Persistent net losses — The company reported net losses in each of the last five fiscal years, including $8.5M in fiscal 2026 on revenue of only $14,133.
• Liquidity and going-concern exposure — Cash and equivalents were just $243,204 at March 31, 2026, while operating cash flow was negative $1.3M in fiscal 2026.
• VIE termination and structural change — The termination of the Wuxi Kingway Technology VIE agreements on March 17, 2025 removed the company's prior China operating structure, with no replacement operations described in the excerpts.

Outlook

The source filing excerpts provided do not include a management outlook, guidance, or forward-looking plan for fiscal 2027. Reported figures show that operating cash burn narrowed to $1.3M in fiscal 2026 from $4.0M in fiscal 2025. With $243,204 of cash at March 31, 2026 and a $8.5M balance sheet, the company's stated direction is not described in the materials provided.