Ruanyun Edai Technology Inc. has announced a rebranding to Formind Group Inc. and a change of its Nasdaq trading symbol to FMND, a move that will be subject to shareholder approval at the upcoming general meeting. The change reflects a strategic pivot from a domestic K‑12 digital publishing focus to a global AI‑powered education technology platform.
The rebranding is part of a broader international expansion strategy. The company is finalizing a contract with a Saudi Ministry of Education‑affiliated provider for Chinese language proficiency testing services, valued at more than $500,000. In the United States, Formind is evaluating a partnership to launch a Hanlink Chinese language course and plans to embed an “AI teacher” capability within Hanlink to address teacher capacity constraints in high‑growth markets.
Financially, Formind reported FY2025 revenue of $6.7 million, a 27.0% decline from $9.3 million in FY2024, but the net loss narrowed to $0.5 million from $2.1 million the prior year. The company’s SmartHomework® solution generated 93.71% of revenue, underscoring the concentration of its legacy business.
Management highlighted that the rebranding signals a new direction. “Today marks a transformative inflection point for our Company,” said CEO Maggie Fu. “Formind Group signals where we are headed: building a more globally oriented platform with the ambition, focus, and flexibility to execute on the opportunities in front of us.”
The shift to AI‑driven products is expected to improve margins. While FY2025 revenue fell, the company’s gross margin improved significantly due to a higher mix of higher‑margin software services. The planned AI teacher feature and international contracts are positioned to drive future revenue growth and diversify the company’s geographic footprint.
The announcement also signals confidence in the company’s ability to navigate regulatory changes in China’s education sector and to capitalize on growing demand for AI‑enabled learning tools worldwide. The Saudi contract and U.S. partnership are early steps toward establishing a presence in key growth markets, while the AI teacher capability addresses a critical teacher shortage in emerging economies.
Overall, the rebranding and expansion plans represent a material transformation of Formind’s business model, positioning the company for long‑term growth in the global education technology arena.
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