This includes approximately US$5.66 million (RMB39.08 million) from launch through March 31, 2026, and approximately US$3.83 million (RMB26.46 million) during April and May 2026. All revenue figures are unaudited, based exclusively on the Company's internal financial records and unaudited management accounts, and have not been prepared in accordance with U.S. GAAP. Pass-through student meal, catering, dormitory utility and other funds collected and remitted on behalf of merchants or service operators are excluded from the operating revenue figures referenced in this release.

The April and May performance reflects accelerating momentum, with the first two months of operating revenue in the 2027 financial year equal to approximately 67% of the revenue generated during the full launch-to-March 2026 period.

Smart Campus Services expands Ruanyun's business beyond classroom-based education technology into the broader infrastructure layer of campus life. The business supports integrated campus operations across food-service management, merchant settlement, dormitory utilities, student-life workflows, vocational development and employment-related services.