Ruanyun Edai Technology Inc. (NASDAQ: RYET) announced a strategic collaboration with Intersect Holding to accelerate AI education, technology localization, and venture development across Saudi Arabia. The memorandum of agreement was signed on July 10 at LEAP East 2026 in Hong Kong.

The collaboration aims to combine Ruanyun's AI education and China market capabilities with Intersect Holding's Saudi commercialization and venture-building platform. The partnership focuses on localizing technologies, building ventures, and pursuing commercial opportunities within the Kingdom.

Strategic Context

LEAP East 2026 brought together founders, investors, policymakers, and technology companies from Saudi Arabia, China, Hong Kong, and the wider Asia-Pacific region. Ruanyun participated in the event to advance its international growth strategy and strengthen relationships across the Saudi and Asian innovation ecosystems.

The company sought partners capable of turning technology into localized products and services. The signing of the memorandum of agreement with Intersect Holding was a direct outcome of that engagement.

Ruanyun Edai Technology Inc. announced that its Smart Campus Services business generated approximately US$9.49 million (RMB65.54 million) in cumulative operating revenue from its launch in September 2025 through May 31, 2026. The unaudited figures, derived from internal financial records, highlight accelerating growth in the company's campus infrastructure segment. This performance underscores the company's strategic shift beyond classroom-based education technology into broader campus operations and student-life services.

The revenue breakdown shows approximately US$5.66 million (RMB39.08 million) recorded from launch through March 31, 2026. Performance accelerated in the subsequent two months, with April and May 2026 contributing approximately US$3.83 million (RMB26.46 million). This recent surge represents approximately 67% of the total revenue generated during the initial launch-to-March period. All figures are unaudited, have not been prepared in accordance with U.S. GAAP, and exclude pass-through funds collected and remitted on behalf of merchants or service operators, such as student meal, catering, and dormitory utility payments.

Smart Campus Services supports integrated campus operations across various domains, including food-service management, merchant settlement, and dormitory utilities. The services also encompass student-life workflows, vocational development, and employment-related services. Chief Executive Officer Maggie Fu stated that the business demonstrates the company's expansion into campus infrastructure and institutional operations, aligning with its planned transformation into Formind Group.

Ruanyun Edai Technology is evaluating opportunities to introduce elements of the Smart Campus Services model outside China, including through Middle East and international expansion initiatives. Any international deployment remains subject to local partner engagement, regulatory review, and commercial agreements. The company's broader strategy includes AI-driven initiatives such as HanLink, Cogni AI, and YeeZo.