Mint’s Majority Owned Subsidiary Rice Robotics Hong Kong Enters into Non-Exclusive Framework Cooperation Agreement with Vengine to Scale Manufacturing Network
Rhea-AI Summary
Mint (MIMI) announced that its indirect majority-owned subsidiary Rice Robotics (Hong Kong) Limited has entered into a non-exclusive, non-binding Framework Cooperation Agreement with Vengine Limited, a Hong Kong-based venture builder with manufacturing and supply chain resources in robotics and embodied intelligence.
The Agreement sets out a framework to explore cooperation in product development support, manufacturing support, and distribution support and channel recommendation. Vengine may introduce manufacturers capable of mass-producing Rice Robotics’ current and future products and may recommend customers and channel partners to help expand in domestic and international markets, including across Asia.
The Agreement creates no minimum purchase, volume, revenue or payment obligations, and no statement of work has been signed yet. Any actual cooperation would require separate written statements of work, and there is no assurance that the Agreement will lead to transactions or affect Mint’s financial results.
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Market reaction after manufacturing network partnership: MIMI +14.87%
Following this news, MIMI has gained 14.87%, reflecting a significant positive market reaction. Argus tracked a trough of -2.0% from its starting point during tracking. Our momentum scanner has triggered 26 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $1.08. Trading volume is exceptionally heavy at 47.3x the average, suggesting very strong buying interest.
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Historical Context
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Non-binding Rice Robotics distribution MOU targeted MENA deployment and a future purchase order.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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Hong Kong, Sept. 10, 2026 (GLOBE NEWSWIRE) -- Mint Incorporation Limited (“Mint” or the “Company”, together with its subsidiaries, the “Group”, NASDAQ: MIMI), a Hong Kong-based company strategically focused on artificial intelligence (AI) and robotics, and an established business interior design and fit-out works provider, today announced that Rice Robotics (Hong Kong) Limited (“Rice Robotics Hong Kong”), a subsidiary of Rice Robotics AGI Holding Limited, an majority owned subsidiary of the Company, has entered into a non-exclusive Framework Cooperation Agreement (the “Agreement”) with Vengine Limited (“Vengine”), a Hong Kong-based venture building platform with deep manufacturing resources and supply chain networks in the robotics and embodied intelligence sector.
The Agreement establishes a non-binding framework for Rice Robotics Hong Kong and Vengine to explore potential cooperation across the following areas: product development support, manufacturing support, and distribution support and channel recommendation. Under the manufacturing pillar, Vengine may leverage its network to identify and facilitate introductions to manufacturers capable of supporting mass production of Rice Robotics' existing and new product lines. Vengine may also utilize its channel resources to recommend potential customers and channel partners, and to assist Rice Robotics Hong Kong in expanding into domestic and international markets.
The Agreement is non-exclusive, allowing each party to pursue similar arrangements with other partners. The Agreement does not commit either party to enter into any transaction and does not provide for any minimum purchase, volume, revenue or payment obligation. Specific terms, deliverables, timelines, and commercial conditions for any actual cooperation will be determined by separate written statements of work to be executed by the parties before any cooperation commences. No statement of work has been entered into as of the date of this press release. There can be no assurance that any statement of work will be entered into, that any introduction made under the Agreement will result in a manufacturing or distribution, or that the Agreement will have any effect on the Company's results of operations or financial condition.
Mr. Damian Chan, Chairman of the Board and Chief Executive Officer of Mint, stated: “This framework agreement marks an important milestone in Mint's broader robotics strategy. By connecting Rice Robotics Hong Kong with Vengine's manufacturing network, particularly its strategic partnership with VTech Communications Limited (a subsidiary of VTech Holdings Limited, a Hong Kong Listing company), we are seeking to strengthen our supply chain resilience and scaling capacity to meet growing demand across Hong Kong and Asia. This collaboration aligns with our strategy of building a robust robotics ecosystem that can deliver innovative solutions at scale.”
Mr. Victor Lee, Founder of Rice Robotics and Chief Executive Officer of Rice Robotics AGI Holding Limited, said: “We are excited to partner with Vengine to unlock new manufacturing capabilities and expand our market presence. Vengine's deep manufacturing relationships and supply chain network will be invaluable as we ramp up production to meet the increasing demand for our service robots across Asia and beyond.”
Ms. Kiki Wang, Partner of Vengine, added: “Vengine is committed to supporting high-potential ventures like Rice Robotics Hong Kong by unlocking manufacturing capacity and connecting them with the right partners. This collaboration aligns perfectly with our mission to accelerate the commercialization of advanced robotics technologies in the Greater Bay Area and beyond.”
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About Mint Incorporation Limited
Mint Incorporation Limited (NASDAQ: MIMI) is a Hong Kong-based company listed on NASDAQ, strategically focused on artificial intelligence (AI), robotics, and interior design and fit-out works. The Group conducts its operations primarily through wholly-owned subsidiaries and joint venture entities in Hong Kong and Singapore, including Rice Robotics AGI Holding Limited, a British Virgin Islands joint venture company owned as to
About Rice Robotics (Hong Kong) Limited
Rice Robotics (Hong Kong) Limited, a subsidiary of Rice Robotics AGI Holding Limited and an indirect majority owned subsidiary of Mint Incorporation Limited, is a provider of autonomous delivery robot solutions, with a market presence across Asia. Rice Robotics specializes in the design, development, and deployment of intelligent robotic systems for logistics and service industries. Its core technology platforms serve customers in Japan, demonstrating proven reliability in complex operational environments. With a focus on innovation and real-world application, Rice Robotics is committed to transforming last-mile delivery and service automation, enhancing operational efficiency and redefining customer experiences.
About Vengine Ventures
Vengine is the first venture builder for Robotics and Embodied Intelligence (“EI”) in the Greater Bay Area, with presence in Hong Kong and Shenzhen, collaborating with top academic and research institutions and industry leaders to accelerate the commercialization of advanced EI and robotics technologies. By leveraging industrial resources of its strategic partner, VTech, Vengine empowers tech teams and startups through product development support, rapid iteration facilitation, and business matching, with the mission to cultivate world-class leaders in next-generation robotics and smart hardware industries.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Important factors that could cause actual results to differ materially include, among others: no statement of work has been entered into; no manufacturer, customer or channel partner introduction may be made or may result in a definitive arrangement; the Company is not a party to the Agreement and holds only an indirect
| Media Enquiries | ||
| Strategic Financial Relations Limited | ||
| Vicky Lee | Tel: (852) 2864 4834 | E-mail: vicky.lee@sprg.com.hk |
| Rachel Ko | Tel: (852) 2114 2370 | E-mail: rachel.ko@sprg.com.hk |
| Cherrie Man | Tel: (852) 2864 4846 | E-mail: cherrie.man@sprg.com.hk |
| Mint Incorporation Limited | ||
| Investor & Media Relations | info@mimintinc.com | http://www.mimintinc.com |
FAQ
What specific areas of cooperation are covered by the Framework Cooperation Agreement?
The Agreement provides a framework for Rice Robotics Hong Kong and Vengine to explore cooperation in three main areas: product development support, manufacturing support, and distribution support and channel recommendation. For manufacturing, Vengine may use its network to identify and introduce manufacturers capable of supporting mass production of existing and new Rice Robotics product lines. For distribution, Vengine may recommend potential customers and channel partners to help expand Rice Robotics Hong Kong’s presence in domestic and international markets.
Is the Agreement exclusive and does it impose any financial or volume commitments?
The Agreement is non-exclusive, so both Rice Robotics Hong Kong and Vengine are free to enter into similar arrangements with other partners. It is also non-binding and does not commit either party to enter into any transaction. The Agreement does not include any minimum purchase, volume, revenue, or payment obligations for either party.
What needs to happen before any concrete cooperation or revenue can arise from this Agreement?
Before any cooperation begins, the parties must sign separate written statements of work that will define specific terms, deliverables, timelines, and commercial conditions. As of the date of the announcement, no statement of work has been entered into. There is no assurance that any statement of work will be signed, that introductions will lead to manufacturing or distribution arrangements, or that the Agreement will impact Mint’s results of operations or financial condition.
How is Rice Robotics AGI Holding Limited owned within the Mint group structure?
Rice Robotics AGI Holding Limited is a British Virgin Islands joint venture company owned as to 54% by Mint’s wholly-owned subsidiary Aspiration X Limited and 12.5% by Rice Robotics Holdings Limited. Rice Robotics (Hong Kong) Limited is a subsidiary of Rice Robotics AGI Holding Limited and is therefore an indirect majority-owned subsidiary of Mint.