TLDR:
- Mint signs MOU with Rice Robotics to establish a joint venture for physical AI solutions.
- Initial investment of HK$10M aims to accelerate robotics R&D in Hong Kong and Asia.
- MIMI shares surged nearly 97% in after-hours trading following the strategic announcement.
- Joint venture plans to expand from B2B services into consumer-focused robotics markets.
Mint Incorporation Limited (NASDAQ: MIMI) has signed a non-binding Memorandum of Understanding with Rice Robotics Holdings Limited on February 9, 2026.
The agreement sets the stage for a joint venture focused on physical AI solutions across Asia. Mint will provide an initial investment of approximately HK$10 million.
Following the announcement, MIMI shares surged nearly 97% in after-hours trading, reflecting investor interest in the company’s expansion into robotics and AI.
Joint Venture to Drive Physical AI Innovation
Mint Incorporation Limited’s subsidiary, Aspiration X Limited, will lead the collaboration with Rice Robotics Holdings Limited.
The joint venture aims to develop localized robotic technologies and expand research and development capabilities in Hong Kong.
Chairman and CEO Damian Chan said, “This partnership provides a compelling response to the question, ‘Why not Hong Kong?’ Many local firms act mainly as sales channels, but together with Rice Robotics, we are building core proprietary technology here.”
The comment reflects the company’s intention to establish Hong Kong as a hub for intelligent robotics development.
Mint brings experience in Southeast Asia, including smart office solutions in Singapore and security robot deployments in Thailand and Malaysia.
Rice Robotics adds expertise in delivery robotics and a robust client base in Japan, providing a strong operational foundation for the venture.
“The 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,” added Chan.
This demonstrates the companies’ aim to combine AI and robotics across both enterprise and consumer markets.
Market Reaction and Strategic Vision
MIMI shares climbed nearly 97% in after-hours trading, more than doubling from the previous close. Investors reacted positively to the announcement, signaling confidence in Mint’s expansion into physical AI.
Victor Lee, Founder of Rice Robotics, commented, “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.” His statement emphasizes the operational synergy between the two companies.
Lee also noted, “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 highlights the joint venture’s ambition to strengthen Hong Kong’s robotics presence regionally.
The collaboration targets “Physical AI”—autonomous systems capable of reasoning, planning, and acting in real-world environments.
By integrating Mint’s AI platform with Rice Robotics’ proven hardware, the joint venture plans to deliver intuitive and practical robotic solutions. The MOU remains non-binding pending the execution of formal agreements.
