KanKan AI Launches "Five-Education" Comprehensive Student Support System

Rhea-AI Summary

Remark Holdings, Inc. (NASDAQ: MARK) has launched the Five-Education student support system in over 400 schools in Zhejiang province, China, serving more than one million students. This subscription-based add-on to the Smart Campus system uses AI-driven analytics to enhance student performance and engagement. The initiative generated over 20 million push notifications, and Remark expects a deployment in approximately 4,000 schools over three years, resulting in an estimated $17 million of recurring annual revenue by 2026.

Positive

• The Five-Education system is now operational in over 400 schools and impacting over one million students.
• Expected deployment in approximately 4,000 schools within three years, projecting $17 million in recurring annual revenue by 2026.
• AI-driven analytics improving student attendance and performance metrics.

Negative

• None.

Provides more than 400 schools and one million students with tools for comprehensive performance support

LAS VEGAS, Dec. 22, 2022 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence ("AI") solutions and digital video analytics, today announced that its KanKan business in China launched the Five-Education student support system as a subscription-based add-on to its Smart Campus system. The Five-Education system uses data and scenario-based precision analytics, such as functionality that monitors each student's attention span and also the engagement between teacher and student, to electronically provide comprehensive reports designed to improve and independently evaluate each student's overall academic performance.

The Zhejiang province education department has had the Five-Education system installed at more than 400 schools where the add-on serves more than one million primary and secondary school students and has generated more than 20 million push notifications through the mobile application of the Smart Campus system. Remark's successful implementation of the Five-Education add-on has led to improved student attendance and improved student performance metrics. Over the next three years, the company expects to deploy the $4,200 add-on in approximately 4,000 schools, with the value of the contract representing approximately $17 million of recurring annual revenue by the end of 2026.

The Smart Campus system, with its epidemic prevention and control functionality, has been designed to assist school staff by:

• Recording body temperature before students enter the campus, thereby allowing staff to begin monitoring health status before students enter classrooms and other buildings.
• Controlling access to campus using a pre-generated QR code as well as KanKan's computer vision technology to identify whether persons trying to enter campus are authorized and are healthy.
• Reducing manual tasks by automating student attendance management and health screening of students and staff.
• Using a mobile app to allow for reservation of and touch-free access into private study rooms, classrooms, laboratories, activity rooms and other functional areas.
• Reduce electricity consumption and greenhouse gas emissions.

"We are pleased that Zhejiang province's school system has elected to expand upon KanKan's Smart Campus system by purchasing the Five-Education add-on," says Kai-Shing Tao, Chief Executive Officer of Remark Holdings. "We have found that active student-teacher engagement improves a student's academic performance, which can be tracked and enhanced through our AI-powered software. We look forward to expanding our system to more than 30 other provinces in China based upon the success of this launch."

About Remark Holdings, Inc.

Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that help organizations monitor, understand, and act on threats in real-time. Remark consists of an international team of sector-experienced professionals that have created award-winning video analytics. The company's GDPR-compliant and CCPA-compliant solutions focus on market sectors including retail, federal and state governmental entities, public safety, hospitality, and transportation. Remark maintains its headquarters in Las Vegas, Nevada, with an additional North American office in New York and New York and international offices in London, England, and Chengdu, China.

For more information, please visit the company's website (www.remarkholdings.com).

Forward-Looking Statements

This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.

Company Contacts

Fay Tian
Vice President of Investor Relations
F.Tian@remarkholdings.com
USA (+1) 626-623-2000
Singapore (+65) 8715-8007

 

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SOURCE Remark Holdings, Inc.

FAQ

What is the Five-Education system launched by Remark Holdings?

The Five-Education system is a subscription-based student support system using AI analytics to enhance student performance and engagement.

How many students does the Five-Education system serve?

The system serves more than one million primary and secondary school students in Zhejiang province, China.

What revenue does Remark expect from the Five-Education system?

Remark expects approximately $17 million in recurring annual revenue by the end of 2026 from the Five-Education system.

How many schools are expected to use the Five-Education system?

Remark plans to deploy the system in approximately 4,000 schools over the next three years.

What impact has the Five-Education system had on student performance?

The implementation has reportedly led to improved student attendance and performance metrics.