{"success":true,"data":{"pressRelease":{"id":"18918","rtpr_id":"nGNX4H9cq0","ticker":"RYET","exchange":"NASDAQ","all_tickers":["RYET"],"title":"Ruanyun Edai Technology’s Saudi RHQ Signs MOU with Wadi Makkah, A Subsidiary of Umm Al-Qura University","author":"Globe Newswire","published_at":"2026-05-04T12:00:02.275Z","article_body":"Framework with Umm Al-Qura University-owned technology and investment company\nto explore AI education, language testing and Saudi market initiatives\n\nNanchang, China, May 04, 2026 (GLOBE NEWSWIRE) -- Ruanyun Edai Technology Inc.\n(NASDAQ: RYET) (the “Company”), an AI-driven education technology company\nfocused on intelligent content recognition, automated assessment and\nnext-generation learning systems, today announced that Soft Cloud Smart\nTechnology Company, the Company’s subsidiary overseeing its Saudi Regional\nHeadquarters, has signed a Memorandum of Understanding (“MOU”) with Wadi\nMakkah Technology Company (“Wadi Makkah”), a Saudi technology and\ninvestment company wholly owned by Umm Al-Qura University.\n\nThe MOU establishes a preliminary framework to explore potential cooperation\nin the Kingdom of Saudi Arabia. Potential areas of collaboration include AI\nsolutions for education, language testing initiatives, joint research,\ntechnical and commercial exchanges, AI-focused training programs, potential\njoint investments, participation in industry events, and initiatives\nsupporting the Company’s integration into the Saudi education and innovation\necosystem.\n\nThe MOU also contemplates the parties exploring cooperation in Arabic language\ntesting initiatives and opportunities relating to a potential artificial\nintelligence academy in Saudi Arabia. Given Wadi Makkah’s position as a\ntechnology and investment company wholly owned by Umm Al-Qura University, the\nCompany believes the framework may provide a relevant platform for evaluating\nsuch initiatives within the Kingdom’s university-linked education and\ninnovation ecosystem, subject to further discussions, required approvals and\ndefinitive agreements.\n\nWadi Makkah is part of the Umm Al-Qura University ecosystem and is focused on\nsupporting the knowledge economy through cooperation among educational and\nresearch institutions, entrepreneurs, technology companies and the business\nand investment community. The Company believes this relationship may support\nits evaluation of practical cooperation opportunities in AI-supported\neducation, language readiness, assessment, training, research\ncommercialization and localized educational services in Saudi Arabia.\n\n“The signing of this MOU with Wadi Makkah marks an important step in the\ndevelopment of our Saudi Regional Headquarters,” said Maggie Fu, Chief\nExecutive Officer of Ruanyun Edai Technology Inc. “We view Saudi Arabia as a\nkey market in our global strategy, where local partnerships, implementation\ncapabilities, and alignment with regulatory frameworks are essential to\nbuilding a sustainable edtech platform. Wadi Makkah’s position as a\ntechnology and investment company wholly owned by Umm Al-Qura University\nprovides strong relevance within Saudi Arabia’s education and innovation\necosystem, and through this MOU, we intend to explore potential collaboration\nin AI-enabled education, language testing, training, research, and localized\nservices to support institutions and learners across the Kingdom”\n\nThe Company believes such cooperation frameworks may support its broader\nobjective of evolving from standalone education software into a more\ninstitution-facing model for educational support services. Under this model,\nthe Company aims to provide technology, implementation support, localized\nlearning tools, language readiness solutions, assessment capabilities and\ncross-border educational support services for institutions, students and\neducation partners in international markets. As previously disclosed, the\nCompany targets deriving approximately 60% of its total revenue from global\nmarkets by the end of 2027, and believes its Saudi Regional Headquarters,\ntogether with institutional cooperation frameworks in Saudi Arabia and other\ninternational markets, may support the development of a more diversified\nglobal platform. There can be no assurance that this target will be achieved\nwithin the anticipated timeframe, or at all.\n\nThe Company noted that the MOU is a preliminary framework for cooperation\nonly. Any specific projects commercial terms, financial arrangements,\noperational responsibilities, data protection, intellectual property, and\nregulatory matters, as well as other binding rights and obligations, if any,\nwill be subject to further discussion and definitive agreements. The MOU does\nnot create any binding revenue commitment or guarantee the completion of any\nproject, investment or commercial initiatives. The Company also believes the\nMOU aligns with its planned transition to the Formind Group identity, subject\nto shareholder approval and applicable corporate and regulatory processes.\n\nAbout Ruanyun Edai Technology Inc.\n\nRuanyun Edai Technology Inc. (NASDAQ: RYET) is an AI-driven technology company\nfocused on intelligent content recognition, automated assessment and\nnext-generation learning systems. The Company is committed to delivering\nscalable, efficient and intelligent technology solutions globally. Subject to\nshareholder approval and completion of applicable processes, the Company plans\nto transition to the Formind Group name as part of its broader global\nstrategy. For more information, please visit: ruanyun.net\n(https://www.globenewswire.com/Tracker?data=mqGzmm4mztmRa7k8Q0JVWLO5MF4fVljpOF5rXhY-ukhoiuSnzv7IsSz1FC0Hf9qE4hDqJffMc6YxB-Hk5j9TiA==).\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe safe harbor provisions of the U.S. Private Securities Litigation Reform\nAct of 1995.\n\nForward-looking statements include, without limitation, statements regarding\nthe Company’s Saudi Regional Headquarters, the MOU with Wadi Makkah\nTechnology Company, the Company’s international expansion strategy, the\nanticipated role of Saudi Arabia as a regional hub, the Company’s planned\ntransition toward the Formind Group identity, the Company’s strategic target\nrelating to future global revenue mix, the potential significance of the MOU,\npossible future cooperation in AI education, language testing, research,\ntraining, investment, market-entry and innovation initiatives, the Company’s\nability to develop institutional education support services, and the\npossibility of entering into future definitive agreements or implementing\nprojects in Saudi Arabia or other international markets.\n\nThese forward-looking statements are based on current expectations, estimates,\nforecasts and assumptions, and involve known and unknown risks and\nuncertainties that could cause actual results to differ materially from those\nexpressed or implied by such statements. These risks and uncertainties\ninclude, among others, risks relating to the parties’ ability to identify\nviable projects, negotiate and enter into definitive agreements, obtain any\nrequired governmental, institutional, regulatory or third-party approvals,\ncomply with applicable Saudi, Chinese, U.S. and other regulatory requirements,\nimplement contemplated initiatives on acceptable terms or at all, protect\nintellectual property and data rights, comply with data protection and\ncybersecurity requirements, localize and commercialize products and services\nin Saudi Arabia and other international markets, establish and scale\noperations in new jurisdictions, maintain customer and partner relationships,\nsatisfy revenue recognition criteria, secure sufficient financing, manage\nliquidity, costs, competition, regulatory developments, macroeconomic\nconditions and geopolitical factors, and complete the Company’s planned\ntransition to the Formind Group name.\n\nThe MOU is preliminary in nature and does not guarantee that any definitive\nagreement, commercial project, revenue, investment, academy, language testing\nprogram, deployment or other initiative will result. There can be no assurance\nthat the Company will achieve its stated strategic targets within the\nanticipated timeframe, or at all. Additional risks are described in the\nCompany’s filings with the Securities and Exchange Commission. Readers are\ncautioned not to place undue reliance on these forward-looking statements,\nwhich speak only as of the date of this press release. The Company undertakes\nno obligation to update any forward-looking statements, except as required by\nlaw.\n\nFor Investor Inquiries and Media Contact:\n\nWFS Investor Relations Inc.\nEmail: services@wfsir.com\nPhone: +1 628 283 9214\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/0b7372f3-6354-4bba-acc5-bb10b1de4c3a)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX4H9cq0","title":"Ruanyun Edai Technology’s Saudi RHQ Signs MOU with Wadi Makkah, A Subsidiary of Umm Al-Qura University","author":"Globe Newswire","ticker":"RYET","created":"2026-05-04T12:00:02.275Z","tickers":["RYET"],"exchange":"NASDAQ","article_body":"Framework with Umm Al-Qura University-owned technology and investment company\nto explore AI education, language testing and Saudi market initiatives\n\nNanchang, China, May 04, 2026 (GLOBE NEWSWIRE) -- Ruanyun Edai Technology Inc.\n(NASDAQ: RYET) (the “Company”), an AI-driven education technology company\nfocused on intelligent content recognition, automated assessment and\nnext-generation learning systems, today announced that Soft Cloud Smart\nTechnology Company, the Company’s subsidiary overseeing its Saudi Regional\nHeadquarters, has signed a Memorandum of Understanding (“MOU”) with Wadi\nMakkah Technology Company (“Wadi Makkah”), a Saudi technology and\ninvestment company wholly owned by Umm Al-Qura University.\n\nThe MOU establishes a preliminary framework to explore potential cooperation\nin the Kingdom of Saudi Arabia. Potential areas of collaboration include AI\nsolutions for education, language testing initiatives, joint research,\ntechnical and commercial exchanges, AI-focused training programs, potential\njoint investments, participation in industry events, and initiatives\nsupporting the Company’s integration into the Saudi education and innovation\necosystem.\n\nThe MOU also contemplates the parties exploring cooperation in Arabic language\ntesting initiatives and opportunities relating to a potential artificial\nintelligence academy in Saudi Arabia. Given Wadi Makkah’s position as a\ntechnology and investment company wholly owned by Umm Al-Qura University, the\nCompany believes the framework may provide a relevant platform for evaluating\nsuch initiatives within the Kingdom’s university-linked education and\ninnovation ecosystem, subject to further discussions, required approvals and\ndefinitive agreements.\n\nWadi Makkah is part of the Umm Al-Qura University ecosystem and is focused on\nsupporting the knowledge economy through cooperation among educational and\nresearch institutions, entrepreneurs, technology companies and the business\nand investment community. The Company believes this relationship may support\nits evaluation of practical cooperation opportunities in AI-supported\neducation, language readiness, assessment, training, research\ncommercialization and localized educational services in Saudi Arabia.\n\n“The signing of this MOU with Wadi Makkah marks an important step in the\ndevelopment of our Saudi Regional Headquarters,” said Maggie Fu, Chief\nExecutive Officer of Ruanyun Edai Technology Inc. “We view Saudi Arabia as a\nkey market in our global strategy, where local partnerships, implementation\ncapabilities, and alignment with regulatory frameworks are essential to\nbuilding a sustainable edtech platform. Wadi Makkah’s position as a\ntechnology and investment company wholly owned by Umm Al-Qura University\nprovides strong relevance within Saudi Arabia’s education and innovation\necosystem, and through this MOU, we intend to explore potential collaboration\nin AI-enabled education, language testing, training, research, and localized\nservices to support institutions and learners across the Kingdom”\n\nThe Company believes such cooperation frameworks may support its broader\nobjective of evolving from standalone education software into a more\ninstitution-facing model for educational support services. Under this model,\nthe Company aims to provide technology, implementation support, localized\nlearning tools, language readiness solutions, assessment capabilities and\ncross-border educational support services for institutions, students and\neducation partners in international markets. As previously disclosed, the\nCompany targets deriving approximately 60% of its total revenue from global\nmarkets by the end of 2027, and believes its Saudi Regional Headquarters,\ntogether with institutional cooperation frameworks in Saudi Arabia and other\ninternational markets, may support the development of a more diversified\nglobal platform. There can be no assurance that this target will be achieved\nwithin the anticipated timeframe, or at all.\n\nThe Company noted that the MOU is a preliminary framework for cooperation\nonly. Any specific projects commercial terms, financial arrangements,\noperational responsibilities, data protection, intellectual property, and\nregulatory matters, as well as other binding rights and obligations, if any,\nwill be subject to further discussion and definitive agreements. The MOU does\nnot create any binding revenue commitment or guarantee the completion of any\nproject, investment or commercial initiatives. The Company also believes the\nMOU aligns with its planned transition to the Formind Group identity, subject\nto shareholder approval and applicable corporate and regulatory processes.\n\nAbout Ruanyun Edai Technology Inc.\n\nRuanyun Edai Technology Inc. (NASDAQ: RYET) is an AI-driven technology company\nfocused on intelligent content recognition, automated assessment and\nnext-generation learning systems. The Company is committed to delivering\nscalable, efficient and intelligent technology solutions globally. Subject to\nshareholder approval and completion of applicable processes, the Company plans\nto transition to the Formind Group name as part of its broader global\nstrategy. For more information, please visit: ruanyun.net\n(https://www.globenewswire.com/Tracker?data=mqGzmm4mztmRa7k8Q0JVWLO5MF4fVljpOF5rXhY-ukhoiuSnzv7IsSz1FC0Hf9qE4hDqJffMc6YxB-Hk5j9TiA==).\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe safe harbor provisions of the U.S. Private Securities Litigation Reform\nAct of 1995.\n\nForward-looking statements include, without limitation, statements regarding\nthe Company’s Saudi Regional Headquarters, the MOU with Wadi Makkah\nTechnology Company, the Company’s international expansion strategy, the\nanticipated role of Saudi Arabia as a regional hub, the Company’s planned\ntransition toward the Formind Group identity, the Company’s strategic target\nrelating to future global revenue mix, the potential significance of the MOU,\npossible future cooperation in AI education, language testing, research,\ntraining, investment, market-entry and innovation initiatives, the Company’s\nability to develop institutional education support services, and the\npossibility of entering into future definitive agreements or implementing\nprojects in Saudi Arabia or other international markets.\n\nThese forward-looking statements are based on current expectations, estimates,\nforecasts and assumptions, and involve known and unknown risks and\nuncertainties that could cause actual results to differ materially from those\nexpressed or implied by such statements. These risks and uncertainties\ninclude, among others, risks relating to the parties’ ability to identify\nviable projects, negotiate and enter into definitive agreements, obtain any\nrequired governmental, institutional, regulatory or third-party approvals,\ncomply with applicable Saudi, Chinese, U.S. and other regulatory requirements,\nimplement contemplated initiatives on acceptable terms or at all, protect\nintellectual property and data rights, comply with data protection and\ncybersecurity requirements, localize and commercialize products and services\nin Saudi Arabia and other international markets, establish and scale\noperations in new jurisdictions, maintain customer and partner relationships,\nsatisfy revenue recognition criteria, secure sufficient financing, manage\nliquidity, costs, competition, regulatory developments, macroeconomic\nconditions and geopolitical factors, and complete the Company’s planned\ntransition to the Formind Group name.\n\nThe MOU is preliminary in nature and does not guarantee that any definitive\nagreement, commercial project, revenue, investment, academy, language testing\nprogram, deployment or other initiative will result. There can be no assurance\nthat the Company will achieve its stated strategic targets within the\nanticipated timeframe, or at all. Additional risks are described in the\nCompany’s filings with the Securities and Exchange Commission. Readers are\ncautioned not to place undue reliance on these forward-looking statements,\nwhich speak only as of the date of this press release. The Company undertakes\nno obligation to update any forward-looking statements, except as required by\nlaw.\n\nFor Investor Inquiries and Media Contact:\n\nWFS Investor Relations Inc.\nEmail: services@wfsir.com\nPhone: +1 628 283 9214\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/0b7372f3-6354-4bba-acc5-bb10b1de4c3a)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-04T12:00:02.36514299Z","server_sent_at_ms":1777896002365},"received_at":"2026-05-04T12:00:02.494Z","source_url":"https://www.globenewswire.com/news-release/2026/05/04/3286651/0/en/Ruanyun-Edai-Technology-s-Saudi-RHQ-Signs-MOU-with-Wadi-Makkah-A-Subsidiary-of-Umm-Al-Qura-University.html"},"analysis":{"id":"13722","press_release_id":"18918","analysis_json":{"industry":{"label":"Software & Services","sector":"Information Technology"},"redFlags":["MOU is a preliminary framework only with no binding revenue commitment","no assurance that the 60% global revenue target by 2027 will be achieved"],"eventType":"partnership","narrative":"Ruanyun Edai Technology announced that its Saudi subsidiary, Soft Cloud Smart Technology, signed a Memorandum of Understanding with Wadi Makkah, a technology company owned by Umm Al-Qura University.\n\nThe non-binding framework outlines potential collaboration in AI education, language testing, and research within the Kingdom, though no specific projects or financial terms were finalized.\n\nThe company targets deriving approximately 60% of its revenue from global markets by the end of 2027 and views this MOU as a step towards that international expansion.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Non-binding MOU signed in Saudi Arabia supports long-term expansion strategy but lacks immediate financial impact."},"keyFigures":{"customDimensions":{}},"quotedText":"The signing of this MOU with Wadi Makkah marks an important step in the development of our Saudi Regional Headquarters","namedEntities":{"people":[{"name":"Maggie Fu","role":"Chief Executive Officer"}],"products":[],"companies":[{"name":"Ruanyun Edai Technology Inc.","ticker":"RYET"},{"name":"Soft Cloud Smart Technology Company","relationship":"subsidiary"},{"name":"Wadi Makkah Technology Company","relationship":"partner"},{"name":"Umm Al-Qura University","relationship":"partner"},{"name":"WFS Investor Relations Inc.","relationship":"investor relations"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"The MOU establishes a non-binding framework to explore potential cooperation in the Saudi market, specifically in AI education and language testing. While this supports the company's international expansion strategy (targeting 60% global revenue by 2027), it is preliminary in nature with no guaranteed revenue or binding financial commitments."},"tickerRelevance":{"others":[],"primary":"RYET"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"non-binding-mou","sectorWeight":"edtech","marketCapAdjustment":"micro-cap"}},"event_type":"partnership","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Ruanyun Edai Technology announced that its Saudi subsidiary, Soft Cloud Smart Technology, signed a Memorandum of Understanding with Wadi Makkah, a technology company owned by Umm Al-Qura University.\n\nThe non-binding framework outlines potential collaboration in AI education, language testing, and research within the Kingdom, though no specific projects or financial terms were finalized.\n\nThe company targets deriving approximately 60% of its revenue from global markets by the end of 2027 and views this MOU as a step towards that international expansion.","key_figures":{"customDimensions":{}},"named_entities":{"people":[{"name":"Maggie Fu","role":"Chief Executive Officer"}],"products":[],"companies":[{"name":"Ruanyun Edai Technology Inc.","ticker":"RYET"},{"name":"Soft Cloud Smart Technology Company","relationship":"subsidiary"},{"name":"Wadi Makkah Technology Company","relationship":"partner"},{"name":"Umm Al-Qura University","relationship":"partner"},{"name":"WFS Investor Relations Inc.","relationship":"investor relations"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:a2703c5a1b5285fe","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-05-04T14:33:48.626Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"small-cap","eventGravity":"non-binding-mou","sectorWeight":"edtech","marketCapAdjustment":"micro-cap"}},"durationMs":35269,"modelName":"glm-4.7"}}