Ruanyun Edai Technology Inc announced preliminary unaudited revenue of $9.3 million to $9.5 million for the six months ended September 30, 2026 (H1FY27). This represents a substantial increase from approximately $0.37 million in the comparable prior-year period.

The projected first-half revenue exceeds the company's full-year revenue for both fiscal 2026 ($7.48 million) and fiscal 2025 ($6.69 million). The growth is primarily attributed to the launch of the Smart Campus Services business in September 2025, which now contributes the majority of top-line income.

Segment performance breakdown

The company’s revenue mix has shifted significantly with the introduction of campus operations and student-life services. These services include food-service management, merchant settlement, and dormitory utilities.

Campus services revenue follows the academic calendar, with higher earnings during spring semesters and reduced activity during the July-August summer break. New projects typically follow an annual cycle initiated in October and implemented during semesters.

International expansion initiatives

Under the Formind Group identity, Ruanyun is pursuing international partnerships. Key developments since April 2026 include:

• A HanLink pilot with Teachers College, Columbia University.
• The first Formind Global agreement with City University Malaysia.
• A three-year framework memorandum of understanding with Intersect Holding and Nanchang Institute of Science and Technology in Saudi Arabia.

These initiatives are currently at an early stage and are not expected to contribute materially to first-half revenue.

What the numbers show

The disparity between the H1FY27 estimate and historical full-year results highlights a structural shift in Ruanyun’s business model. By generating over $9 million in just six months, the company has already surpassed its entire annual revenue from the previous two fiscal years combined. This indicates that the newly launched campus services segment is not merely incremental but has fundamentally altered the scale of operations, shifting the company from a niche ed-tech provider to a larger-scale service operator. However, the seasonality noted in campus services suggests that second-half performance may face headwinds due to academic breaks.

Link Door Smart Company, a strategic associate of Ruanyun Edai Technology Inc. (NASDAQ: RYET), signed a procurement and service agreement with Learning Time International Schools in Saudi Arabia. The deal secures a paid contract for the HanLink Chinese learning platform.

The agreement is valued at SAR100,000, excluding VAT, and covers the 2026/2027 academic year. Link Door will handle platform deployment, account activation, teacher training, and technical support. Ruanyun is not a signatory to this specific contract.

Commercial Progression in Saudi Arabia

This contract marks a shift from pilot programs to paid institutional access for Ruanyun’s HanLink platform in the Kingdom. The company previously launched a four-week pilot at Education & Skills International School in Riyadh in May 2025. In July 2025, it announced a strategic cooperation with the Confucius Institute at Prince Sultan University to localize teaching resources.

In May 2026, Link Door secured an earlier procurement agreement with Alfyaseh Trading Est. The Learning Time International Schools deal continues this commercialization path by securing a full academic year license. Deployment is due within five business days after Link Door receives the initial payment.

Platform Capabilities and Related Party Structure

HanLink combines classroom tools with an AI "Han" teacher that supports individual practice in Arabic, English, and Chinese. The AI provides pronunciation feedback and conversational activities outside scheduled lessons. Maggie Fu, CEO of Ruanyun, stated that connecting classroom learning with individual AI practice is central to the platform’s value.

Link Door is separately owned but closely tied to Ruanyun’s leadership. Maggie Fu holds a 75% stake, while Chief Technology Officer Cong Zhao owns 25%. The licensing arrangement between Ruanyun and Link Door operates through Jiangxi Ruanyun Technology Co., Ltd., a consolidated variable interest entity in China.

Ruanyun clarified that the SAR100,000 contract value does not equate to immediate revenue or cash receipts for the company. Revenue recognition depends on performance obligations and collectability under applicable accounting standards.