Mint signs Memorandum of Understanding with leading robotics company Rice Robotics to jointly develop physical AI solutions in Asia
Mint Signs Memorandum of Understanding with Leading Robotics Company Rice Robotics to Jointly Develop Physical AI Solutions in Asia
Mint Incorporation Limited ("Mint" or the "Group", Nasdaq Stock Code: MIMI), a Hong Kong-based company focused on artificial intelligence and robotics while also providing commercial interior design and renovation services, today announced that its wholly-owned subsidiary Aspiration X Limited ("Aspiration X") has signed a non-binding memorandum of understanding with the renowned delivery robotics company Rice Robotics Holdings Limited ("Rice Robotics") to explore the establishment of a strategic joint venture. Funded by Mint, the two parties plan to initially invest approximately HK$10,000,000 to form a joint venture, subject to the negotiation and execution of definitive agreements. The proposed collaboration aims to jointly develop localized robotics technology and expand relevant R&D capabilities in Hong Kong.
The proposed joint venture aims to accelerate the development and deployment of intelligent robotics solutions. Mint will leverage its existing strengths in the Southeast Asian market—including smart office solutions in Singapore and security robot deployments in Thailand and Malaysia—while Rice Robotics will contribute its professional expertise in the delivery robotics field and its solid presence serving well-known clients in the Japanese market. Both parties will fully utilize their respective advantages in R&D, marketing, and branding to achieve broad market coverage.
Mr. Chan Hoi Lung, Chairman of the Board and Chief Executive Officer of Mint, commented on this strategic move: "This collaboration is a powerful response to the question, 'Why not choose Hong Kong?' Although Hong Kong is renowned for fintech and financial services, we firmly believe this city possesses the talent and vision to lead innovation in physical AI and robotics. While many local companies primarily act as sales channels, we, together with Rice Robotics, are building core proprietary technology here. Rice Robotics's mature delivery robotics platform and its high-end client network in Japan are impressive. This partnership will significantly enrich and strengthen our robotics business portfolio, propelling our expansion from the enterprise market into the promising consumer sector—leveraging our powerful AI technology to develop robots for companionship, education, and daily life."
Mr. Li Kwok Hong, Founder of Rice Robotics, added: "Mint's rapid expansion in the AI and robotics sector in Southeast Asia makes it an ideal partner. Its professional business team and AI platform will greatly accelerate our joint R&D and market expansion. We share a common vision to build Hong Kong's most prominent robotics company, driving substantive diversification in the local tech ecosystem. Establishing this joint venture will significantly enhance the market strength of both parties."
This collaboration comes at a pivotal moment as the industry transitions towards "Physical AI"—technology referring to systems capable of autonomous reasoning, planning, and action in the real world. By integrating Rice Robotics's mature robotics hardware and market experience with Mint's advanced AI platform, this strategic agreement positions itself as a key player in this transformation. Together, they will develop smarter, more intuitive robotics solutions to tackle real-world challenges, improve daily life quality, and define the next generation of autonomous technology paradigms.
The memorandum of understanding is non-binding and subject to the execution of definitive agreements and customary conditions.
About Mint Incorporation Limited
Mint Incorporation Limited (Nasdaq Stock Code: MIMI) is a Hong Kong-based company listed on Nasdaq, focusing on artificial intelligence, robotics, and interior design. Through its subsidiary Aspiration X Limited, the company provides intelligent robotics and facility management solutions for enterprises, real estate, shopping malls, government agencies, and more. Mint also operates Matter International Limited, offering professional interior design and renovation services. Upholding a philosophy that values both innovation and practical application, Mint is committed to enhancing efficiency, safety, and quality of life across various industries.
About Rice Robotics Holdings Limited
Rice Robotics Holdings Limited is a leading provider of automated delivery robotics solutions in the Asian market, with significant market influence in the region. The company focuses on designing, developing, and deploying intelligent robotics systems for the logistics and service industries. Its core technology platform serves several well-known clients in Japan, demonstrating exceptional reliability in complex operational environments. Rice Robotics is dedicated to driving the transformation of last-mile delivery and service automation, enhancing operational efficiency through innovation and practical application, and reshaping the user experience.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the company's current expectations and projections about future events that may affect its financial condition, operating results, business strategy, and financial needs. Investors can identify these forward-looking statements by words such as "approximately," "believe," "hope," "expect," "anticipate," "estimate," "project," "intend," "plan," "will," "would," "should," "may," or other similar words or phrases. The company undertakes no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that these expectations will prove correct and cautions investors that actual results may differ materially from anticipated results, encouraging investors to review other factors that may affect its future results, which are disclosed in the company's filings with the Securities and Exchange Commission.
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