Netdragon Websft - NDWTY STOCK NEWS

NetDragon Websoft Holdings (Hong Kong: 0777) has signed a Memorandum of Understanding (MoU) with The Hong Kong Polytechnic University (PolyU) to establish a strategic partnership focused on educational technology innovation. The collaboration encompasses three key areas: joint development of an AI learning platform, collaborative research in EdTech, and facilitation of academic exchange programs among tertiary institutions globally.

The partnership aims to enhance student learning experiences through AI technology integration and promote EdTech applications in higher education. The collaboration will leverage PolyU's academic resources and NetDragon's expertise in AI and EdTech to develop innovative educational solutions. NetDragon, established in 1999, is known for online gaming and educational technology, with its education subsidiary Mynd.ai having interactive technology present in over 1 million learning spaces across 126 countries.

NetDragon reported its 2024 interim financial results, showing resilience amid challenges. Key highlights include:

• Revenue decreased 10.3% YoY to RMB3.30 billion
• Gaming revenue increased 2.1% YoY to RMB1.36 billion
• EBITDA increased 12.9% YoY to RMB1.04 billion
• Profit attributable to owners decreased 20.0% YoY to RMB400 million

The company saw growth in its domestic PC gaming business, driven by flagship IPs like Eudemons, Conquer, and Heroes Evolved. New game launches are expected to drive future growth. The education subsidiary Mynd.ai faced industry-wide softening demand but improved gross margins. NetDragon is pursuing cost optimization and evolving towards an integrated software and service model in education technology.

NetDragon and EDA (Thailand) have announced a strategic initiative with Thailand's Ministry of Higher Education, Science, Research and Innovation (MHESI) to revolutionize education through an AI-powered platform called aom-ai. The platform, set to launch later this year, is being previewed at the MHESI Fair SCI Power for Future Thailand expo from July 22 to 28, 2024.

Aom-ai is designed to personalize education experiences, adapt to individual learning styles, and support lifelong learning. It will offer self-paced learning, accredited certifications, and aim to prepare Thai citizens for the digital economy. NetDragon's booth at the expo features an Immersive Learning Zone and an Independent Learning Zone, showcasing various educational technologies.

NetDragon Websoft Holdings reports fiscal year 2023 financial results, highlighting a 9.7% decrease in revenue, with gaming revenue up by 9.6% YoY and Mynd.ai revenue down by 25.7% YoY. The company achieved a gross profit increase of 1.9% YoY, but experienced a 28.6% decrease in operating profit. EBITDA decreased by 8.7% YoY, and profit attributable to owners of the Company dropped by 34.1% YoY. Mynd.ai saw a core segmental loss of RMB 93 million in FY2023 compared to a profit of RMB 30 million in FY2022.

NetDragon Websoft Holdings Limited announces strategic partnerships to revolutionize educational technology in Saudi Arabia, including agreements with TVTC and The Royal Commission for Jubail and Yanbu.

NetDragon Websoft Holdings Limited unveils EDA, a metaverse education platform focused on K-12 education, emphasizing exploratory and experiential learning. The platform aims to revolutionize education by delivering content in the form of education games, personalized learning paths, and customized teaching methodologies. EDA will feature an AI-enhanced content development toolkit and an interactive community platform for collaborative engagement amongst teachers and students.

NetDragon Websoft Holdings Limited (HKSE: 0777) has been upgraded to BBB by MSCI ESG rating, marking a significant achievement in the ESG domain. The company excelled in the 'Privacy and Data Security' category, surpassing industry averages and receiving high acclaim from MSCI. NetDragon has also received recognition from S&P Global, Morningstar Sustainalytics, and People's Daily Online for its outstanding performance in sustainable development and social responsibility. The company is committed to enhancing its ESG performance and building long-term sustainable value to society and the environment.

NetDragon Websoft Holdings Limited (Hong Kong Stock Code: 777) has completed the merger of its core overseas education business with NYSE-listed Gravitas Education Holdings Inc. at a valuation of US$800 million, forming Mynd.ai, Inc. (MYND). NetDragon now holds 74.39% of Mynd.ai's issued share capital, aiming to redefine the educational landscape with a focus on Classroom as a Service (CaaS) and establishing Mynd.ai as the unified provider for K-12 market.

NetDragon Websoft Holdings Limited (Hong Kong Stock Code: 777) has completed a strategic investment of US$20 million in Rokid Corporation Ltd and signed a 5-year strategic partnership agreement to pursue metaverse opportunities globally with Rokid's state-of-the-art Augmented Reality (AR) technologies. This investment and partnership aim to accelerate the creation of next-generation interactive user experiences that will form the backbone of tomorrow's metaverse. Dr. Simon Leung, NetDragon Group Vice Chairman and Executive Director, believes AR will be one of the core technologies to enable the metaverse in the years to come, broadening the number and variety of use cases, especially in education and gaming. Mr. Misa Zhu, the Founder and CEO of Rokid, is happy to have NetDragon onboard as a close strategic partner, aiming to leverage their knowledge and know-how in education and gaming, as well as their global sales network.