MIMI News & Events

Mint Incorporation announced that its wholly-owned subsidiary, Axonex Intelligence Limited has entered into a joint venture agreement with Synergy Technology Group to establish Axonex Automation, a new Hong Kong-based joint venture company focused on commercializing advanced digital twin and drone flight. Under the JV Agreement, AXONEX will hold an 80% equity interest in Axonex Automation Limited, while STG will hold the remaining 20%. The joint venture will combine AXONEX's operational resources and international business capabilities with STG's proven technology in digital twins and drone flight control systems to drive scalable deployment in sectors such as infrastructure inspection, utilities, smart cities, and industrial operations.

Mint Incorporation announced the successful delivery of the first prototype of the FLOKI Minibot M1, an AI-powered companion robot developed in collaboration with Rice Robotics Holdings. This milestone marks the Group's official entry into the consumer robotics market, as part of its broader strategy to diversify its business operations.

Mint Incorporation's Aspiration X has signed a non-binding Memorandum of Understanding to explore the formation of a strategic joint venture with a renowned delivery robotics company, Rice Robotics Holdings. 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 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. The MOU is non-binding and subject to the execution of definitive agreements and satisfaction of customary conditions.

Mint Incorporation received a notification letter dated December 19 from the Listing Qualifications Department of The Nasdaq Stock Market, notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). It resulted from the fact that the closing bid price of the Company's class A ordinary shares, no par value per share was below $1.00 per share for a period of 30 consecutive business days from November 6, to December 18. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until June 17, 2026, to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company's Ordinary Shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance with the minimum bid price requirement by June 17, 2026, the Company may be eligible for an additional 180 calendar day grace period to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, including by effecting a reverse stock split, if necessary. If the Company chooses to implement a reverse stock split, it must complete the split no later than 10 business days prior to June 17, 2026 or the expiration of the second compliance period if granted.