Insider Brief
- Mint Incorporation Limited said its subsidiary Aspiration X signed a non-binding MOU with Rice Robotics Holdings Limited to explore forming a Hong Kong-based robotics joint venture, with Mint proposing an initial investment of about HK$10 million.
- The proposed venture would combine Mint’s AI and Southeast Asia robotics footprint with Rice Robotics’ delivery robot platform and Japan client base to expand localized R&D and commercial deployments.
- The companies said the partnership aims to accelerate development of “physical AI” systems and broaden into consumer-facing robotics, though the agreement remains subject to definitive documentation and customary conditions.
PRESS RELEASE — Mint Incorporation Limited (“Mint” or the “Group”, NASDAQ: MIMI), a Hong Kong-based company with a new strategic focus on artificial intelligence (AI) and robotics, and an established business interior design and fit-out works provider, announced that its wholly-owned subsidiary, Aspiration X Limited (“Aspiration X”), has signed a non-binding Memorandum of Understanding (“MOU”) to explore the formation of a strategic joint venture with a renowned delivery robotics company, Rice Robotics Holdings Limited (“Rice Robotics”). Under the MOU, both parties intend to establish a joint venture with an initial investment of approximately HK$10,000,000 to be funded by Mint, subject to the negotiation and execution of definitive agreements. The proposed collaboration centers on a shared goal of developing localized robotic technologies and expanding related research and development (“R&D”) capabilities in Hong Kong.
At its core, the proposed joint venture aims to accelerate the development and deployment of intelligent robotic solutions. Mint brings its established footprint in Southeast Asia—including smart office solutions in Singapore and security robot deployments in Thailand and Malaysia—while Rice Robotics contributes its expertise in delivery robots and a robust presence in Japan, serving prestigious clients. The parties intend to leverage their respective strengths in terms of R&D, marketing, and branding to achieve expansive market coverage.
Commenting on the strategic initiative, Mr. Damian Chan, Chairman of the Board and Chief Executive Officer of Mint stated: “This partnership provides a compelling response to the question, ‘Why not Hong Kong?’ While the city is renowned for fintech and finance, we believe it has the talent and vision to be a leader in physical AI and robotics innovation. Many local firms act mainly as sales channels, but together with Rice Robotics, we are building core proprietary technology here. We were impressed by Rice Robotics’ proven delivery robotics platform and its network of high-profile clients in Japan. This partnership significantly diversifies and strengthens our robotics portfolio, allowing us to move beyond B2B into the promising B2C space—developing robots for companionship, education, and daily life, powered by our robust AI.”
Mr. Victor Lee, Founder of Rice Robotics, added: “Mint’s rapid expansion in AI and robotics across Southeast Asia makes it an ideal partner. Its dedicated commercial teams and AI platform will dramatically accelerate our joint R&D and market expansion. We share a bold vision to build the most anticipated robotics company in Hong Kong and drive meaningful diversification in the region’s tech ecosystem. This joint venture will serve as a strategic accelerator for both companies.”
The collaboration is strategically timed to capitalize on the transformative shift towards “Physical AI”—systems capable of reasoning, planning, and acting autonomously in the real world. By combining Rice Robotics’ proven robotics hardware and market expertise with Mint’s advanced AI platform, the joint venture will occupy a unique position at the forefront of this revolution. Both partners are committed to developing smarter, more intuitive robotic solutions that address real-world challenges, enhance everyday life, and set the stage for the next generation of autonomous technology.
The MOU is non-binding and subject to the execution of definitive agreements and satisfaction of customary conditions.
