At FETC, BETT, TCEA, ISE, and Didacta, Promethean will showcase its complete hardware and software product portfolio ecosystem designed to give customers and partners choice across environments and use cases. Promethean's displays and software are built to work seamlessly together when desired, while also allowing users to engage with software independently of the panel, supporting flexible workflows across classrooms, campuses, workplaces, and shared spaces. Promethean prioritizes adaptability at the point ...

Core Viewpoint - Mynd.ai, Inc. is advancing its strategic growth through a partnership with the Q101 Foundation, focusing on platform expansion and product diversification in the educational technology sector [1][4]. Group 1: Partnership and Collaboration - Mynd.ai is working with the Q101 Foundation to finalize a strategic Memorandum of Understanding (MOU) aimed at supporting the next phase of Mynd's platform expansion and ecosystem monetization [1]. - The collaboration centers on the Open Quest Academy (Open-Q), an AI-driven educational ecosystem designed to facilitate the creation and distribution of educational content [2]. - Mynd.ai is expected to be the exclusive operating partner for the Q101 Foundation in North America, pending the execution of definitive agreements [2]. Group 2: Strategic Evolution - The partnership will leverage Promethean's extensive install base to introduce a content-enabled platform that goes beyond traditional hardware and software offerings [3]. - This collaboration aligns with Mynd.ai's strategic evolution towards a diversified, platform-oriented business model, aiming to enhance customer engagement and create multiple monetization pathways [3]. - Management believes that expanding into content marketplaces represents a natural extension of Mynd.ai's strategy, enhancing recurring revenue potential and strengthening competitive positioning in the global education technology landscape [3]. Group 3: Long-term Vision - Mynd.ai views the collaboration with the Q101 Foundation as a crucial step towards building a resilient and diversified growth profile, ultimately delivering sustainable long-term shareholder value [4].

Core Viewpoint - Dongwu Securities expects Net Profit attributable to shareholders of NetDragon (00777) to be 400 million, 670 million, and 680 million RMB for 2025-2027, with corresponding PE ratios of 13.6, 8.1, and 8.0 times. The target market capitalization is set at 8.5 billion RMB, translating to a target price of 17.59 HKD per share. The firm is optimistic about the company's stable operation of existing games, the benefits from the education business due to equipment upgrade cycles, and the comprehensive empowerment of AI in gaming education, leading to performance growth from diversified investments [1]. Gaming Sector - The company has established a solid performance foundation through long-standing IPs in the MMORPG sector, such as "Magic Domain," "Conquest," and "Spirit of Heroes," which exhibit strong user stickiness and long-term operational capabilities. The flagship IP "Magic Domain" has maintained high operating profit margins over nearly two decades. The company is implementing an "AI + Gaming" strategy, with AI integrated into art production, code writing, and multilingual localization, enabling rapid global market expansion and cost-effective development of mobile versions from PC games. In the first half of 2025, R&D expenses in the gaming and application services segment are expected to decrease by 26.7% year-on-year, indicating potential profit growth from AI-driven cost reductions [2]. Education Sector - Mynd.ai, a subsidiary, is a leader in global educational interactive display devices, with cumulative sales of 1.37 million units from 2016 to 2024, capturing nearly 16% of the global market share in 2024. The next replacement cycle for educational equipment is anticipated as devices purchased during the pandemic begin to expire, indicating a broad long-term market opportunity. In the first half of 2025, the company's SaaS ecosystem is taking shape, with "Explain Everything" continuing its growth trend. The acquisition of Merlyn Mind introduces an AI voice assistant to enhance user interaction with hardware and link software resources with SaaS tools, reinforcing the "hardware + SaaS" barrier and accelerating the transition to a high-margin subscription model, which is expected to improve profitability [3]. Strategic Investments - The company is focusing on a dual-core business strategy with strategic investments in AI, AR, and the broader entertainment sector, creating multiple potential growth drivers. AI technology is expected to enhance intelligent interactions in gaming and generate personalized educational content, improving the quality and efficiency of both core businesses. AR hardware will enhance immersion in gaming and the appeal of educational products, while the broader entertainment sector will aggregate traffic and incubate IPs, contributing to user growth and brand value, thus closing the "technology-scenario-user" loop [4]. - The company has made strategic investments in ROKID, Chuangqisi, and Shuaiku Network to strengthen its ecosystem in AI, AR, and the entertainment sector. In AI, Chuangqisi has partnered with Zhongke Wenge to become the exclusive overseas platform and commercialization partner, developing several AI large model products. In AR and the metaverse, the investment in ROKID aims to explore new applications in education and gaming. In the entertainment sector, the investment in Shuaiku Network positions the company in the group broadcasting sector, expected to contribute to performance growth and provide new channels for IP promotion in gaming and user outreach in education. Additionally, the company is joining the Open-Q ecosystem to lay the groundwork for AI computing power and high-quality educational content [5].

Core Insights - Mynd.ai, Inc. has formalized a new distribution agreement with TD SYNNEX and enhanced its existing relationship with Midwich US, marking a significant advancement in Promethean's go-to-market strategy in the United States [1][2]. Group 1: Strategic Partnerships - The partnership with TD SYNNEX aims to scale the delivery of secure and high-impact technology solutions, providing resellers with greater options and flexibility in purchasing [2][3]. - Midwich US has been instrumental in driving partner-first enablement and will expand its offerings to include Promethean's education and workplace solutions, reinforcing its role in Promethean's channel ecosystem [3][4]. Group 2: Company Overview - Mynd.ai, based in Seattle, is a global leader in interactive technology, offering hardware and software solutions that enhance teaching, learning, and communication across more than 1 million spaces in 126 countries [4]. - Promethean, a subsidiary of Mynd.ai, has over 25 years of experience in reshaping how education organizations and workplaces utilize AV technology, with a strong presence in various industries worldwide [5].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [4]. Core Insights - The company leverages its long-standing IPs in gaming and embraces AI to enhance efficiency and reduce costs, particularly in the MMORPG sector [2][36]. - The education segment, led by Mynd.ai, is transitioning towards a SaaS model, which is expected to improve profitability as the market for educational hardware enters a replacement cycle [3][55]. - Strategic investments in AI, AR, and the broader entertainment sector are aimed at building a long-term growth ecosystem [4][69]. Summary by Sections 1. Gaming and Application Services - The company has a strong foundation in MMORPGs, with flagship IPs like "Magic Domain," "Conquest," and "Spirit of Heroes" contributing to stable cash flow [36]. - AI integration has led to a 26.7% reduction in R&D costs in the gaming segment, enhancing profitability [51]. - The gaming segment is expected to generate revenues of 2,594 million, 3,160 million, and 3,318 million yuan from 2025 to 2027, with respective year-on-year growth rates of -25%, +7%, and +5% [76]. 2. Education Segment - Mynd.ai, a leader in educational interactive display devices, has a market share of nearly 16% in the global stock of interactive devices as of 2024 [3][56]. - The transition to a SaaS model is underway, with a 8% quarter-on-quarter growth in SaaS subscriptions, particularly for the flagship application "Explain Everything" [63]. - Revenue from the education segment is projected to be 1,685 million, 1,769 million, and 1,946 million yuan from 2025 to 2027, with year-on-year growth rates of -20%, +5%, and +10% [76]. 3. Strategic Investments - The company has made strategic investments in AI, AR, and the entertainment sector to create synergies with its core gaming and education businesses [4][69]. - Investments in companies like Rokid and Shuaiku Network are expected to enhance market competitiveness and provide new channels for user engagement [72][75]. - The collaboration with Zhongke Wenge aims to develop AI applications for various sectors, positioning the company as a leader in AI technology deployment [70].

Core Insights - Mynd.ai, through its subsidiary Promethean, is launching an AI-powered integration with Augment Me Inc. within the Explain Everything platform, set for release in December 2025, enhancing educational experiences with real-time insights and personalized support [1][2][4]. Product Features - The integration will transform traditional digital whiteboarding into a dynamic learning experience, providing educators with near real-time insights into student engagement and cognitive readiness without additional logins or setup [2][6]. - Key features include actionable recommendations for improved focus and well-being, adaptive feedback tailored to each session, and seamless integration within the Explain Everything platform [6][4]. Strategic Vision - The launch exemplifies Promethean's strategic vision to enhance customer value and enrich learning experiences, positioning Mynd.ai at the forefront of educational transformation [3][5]. - Promethean aims to provide intuitive tools that save educators time, deepen insights, and foster meaningful student engagement [5][4].

Core Insights - Mynd.ai, Inc. announced a strategic partnership with Augment Me Inc. to enhance cognitive performance and engagement in educational environments through AI solutions [1][3] Group 1: Strategic Partnership - The collaboration aims to integrate AI-driven engagement and learning readiness tools into Promethean's software ecosystem, including Promethean ActivSuite™ and Explain Everything [2][3] - This partnership is positioned as a significant advancement in Promethean's capabilities to provide real-time insights and actionable recommendations for educators [3][4] Group 2: Company Background - Mynd.ai is a global leader in interactive technology, providing hardware and software solutions that facilitate dynamic content delivery and real-time collaboration in over 1 million learning spaces across 126 countries [5] - Promethean, a subsidiary of Mynd.ai, has been a trusted partner in education for over 25 years, offering award-winning AV technology and software solutions that enhance learning and collaboration [6]

Financial Performance - The company's revenue decreased by 27.9% year-over-year, totaling RMB 2,381 million in 1H25, compared to RMB 3,301 million in 1H24 [14] - Profit attributable to owners of the company decreased significantly by 92.5% year-over-year, from RMB 400 million in 1H24 to RMB 30 million in 1H25 [14] - Interim dividend per share increased by 25%, from HK$0.4 to HK$0.5 [14] Segmental Analysis - Gaming and Application Services revenue decreased by 18.1% year-over-year, amounting to RMB 1,738 million in 1H25, compared to RMB 2,121 million in 1H24 [14] - Mynd.ai revenue experienced a substantial decrease of 45.7% year-over-year, with revenue of RMB 641 million in 1H25 compared to RMB 1,180 million in 1H24 [14] - Research and Development expenses in Gaming and Application Services segment decreased by 26.7% year-over-year [11, 23] Strategic Initiatives - The company is comprehensively deploying an AI content factory, enhancing overall efficiency by 15% initially and aiming for 25% with full build-out [11, 23] - The company is focusing on high-quality content and cultural experiences to ensure the flagship IP Eudemons achieves evergreen growth [92] - The company plans to distribute no less than HKD 600 million to shareholders over the next 12 months through dividends and share repurchases [89]

Core Insights - Promethean, a leading global tech company, is expanding its ActivPanel display portfolio with the launch of two new displays, ActivPanel 10 and ActivPanel 10 Premium, to cater to diverse school and district needs [1][2][7] - The new product line aims to provide flexible solutions that integrate with various operating systems, ensuring compatibility with existing tech ecosystems [3][7] Product Overview - The ActivPanel 10 and ActivPanel 10 Premium are designed for advanced interactivity, offering best-in-class visuals and audio, and can integrate with Android, Chrome, Windows, or Mac operating systems [3][7] - The ActivPanel LE is an EDLA-certified interactive display featuring a built-in Android OS, aimed at providing reliable performance at a lower price point for Android-based schools [4] - The ActivPanel D-Series is a non-interactive digital signage solution that allows organizations to share messages instantly, pre-installed with Rise Vision and Radix for easy content management [5][8] Event Participation - Promethean will showcase its expanded product line at ISTELive 2025 in San Antonio, TX, from June 29 to July 2, providing product demonstrations and professional development sessions [1][6][7]

Core Insights - Promethean has partnered with Google to launch the Chromebox OPS, a device that enhances interactive flat panel displays by integrating ChromeOS [1][2] - The Chromebox OPS simplifies the user experience for educators by providing a plug-in solution that eliminates the need for complex cabling and additional steps to access content [2][5] - This partnership aims to extend the lifecycle of existing hardware, allowing users to upgrade or replace the compute device as technology advances without needing to update the entire panel [2][5] Product Features - The Chromebox OPS allows IT administrators to install ChromeOS and Promethean ActivSuite™ apps for easy access to various educational tools [3] - The device offers automatic updates and built-in virus protection, managed through the Google Admin console [3] - The ChromeOS Experience Center in San Jose showcases the Chromebox OPS alongside the ActivPanel 10, promoting tech innovation and customer engagement [4] Market Engagement - Educators can experience the Chromebox OPS and ActivPanel 10 at ISTELive 25 in San Antonio, TX, from June 29 to July 2 [5] - Promethean emphasizes its commitment to creating user-friendly and maintainable products through collaboration with Google [5] - With over 25 years in the industry, Promethean positions itself as a key player in digital transformation for educational institutions [5][7]