Mint and Rice Robotics Launch Joint Venture to Expand AI Companion Robot Business with HK$15M in funding
Rhea-AI Summary
Mint (NASDAQ:MIMI) formed a British Virgin Islands joint venture, Rice Robotics AGI Holding, with Rice Robotics to develop and sell next-generation AI companion robots. Mint’s subsidiary Aspiration X will provide HK$15,000,000 in funding plus R&D and human resources, while Rice Robotics contributes technology, IP, clients, and sales support.
The venture aims to extend Mint’s robotics from B2B into consumer markets, leveraging the prior FLOKI Minibot M1 collaboration. The first consumer-ready AI companion robots are planned for initial Asian market launch in Q3 2026.
Positive
- HK$15,000,000 capital commitment by Aspiration X to Rice Robotics AGI
- Rice Robotics contributes existing technology, IP, client base, and sales support
- Joint venture targets expansion from B2B robotics into consumer AI companion market
- Planned initial launch of consumer AI companion robots in Asian markets in Q3 2026
- JV builds on co-developed FLOKI Minibot M1 commercial deployment
Negative
- None.
News Market Reaction – MIMI
In the May 28 session, MIMI declined 8.81%, reflecting a notable negative market reaction. Argus tracked a peak move of +30.1% during that session. Argus tracked a trough of -18.2% from its starting point during tracking. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. Trading volume was exceptionally heavy at 25.8x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 04 | Reverse stock split | Negative | -11.7% | 1-for-10 reverse split to address Nasdaq minimum bid price compliance. |
| Apr 14 | AI robotics showcase | Positive | +104.1% | AXONEX exhibits six robot series and companion FLOKI Minibot M1 at InnoEX. |
| Mar 11 | JV for digital twin | Positive | +10.5% | Axonex–Synergy JV to commercialize digital twin and drone flight control tech. |
| Feb 25 | FLOKI prototype | Positive | +16.7% | First FLOKI Minibot M1 prototype and plan to deliver up to 800 units. |
| Feb 09 | Rice Robotics MoU | Positive | +37.1% | Non-binding MoU with Rice Robotics for Physical AI joint venture in Asia. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI and partnership announcements have previously coincided with strong positive price reactions, while the reverse split drew a negative response.
Over recent months, Mint has pivoted toward AI and robotics while managing listing compliance. A 1-for-10 reverse split on May 6, 2026 was followed by a -11.67% move. By contrast, AI- and robotics-focused updates, such as the FLOKI Minibot M1 prototype, the Rice Robotics MoU, the InnoEX robotics showcase, and the Axonex–Synergy joint venture, saw price gains ranging from 10.54% to 104.12%. Today’s JV formalizes earlier MoU and prototype steps with Rice Robotics.
Key Terms
joint venture financial
intellectual property technical
reverse stock split financial
shelf registration regulatory
public float financial
regulation s regulatory
digital twin technical
drone flight control technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Hong Kong, May 28, 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 on May 22, 2026, its wholly-owned subsidiary, Aspiration X Limited (“Aspiration X”), has entered into a joint venture agreement (the “JV Agreement”) with Rice Robotics Holdings Limited (“Rice Robotics”) to establish Rice Robotics AGI Holding Limited (“Rice Robotics AGI”), a new British Virgin Islands joint venture company. Rice Robotics AGI will focus on the development and sales of the next generation of AI companion robots, or as may be expanded or changed by Rice Robotics AGI from time to time in accordance with the JV Agreement.
Pursuant to the JV Agreement, Aspiration X and/or its nominee(s) will contribute HK
The collaboration brings together Mint's strategic resources with Rice Robotics' proven autonomous navigation and AI technology, building on the successful co-development and delivery of the FLOKI Minibot M1 for commercial applications. Rice Robotics AGI is now expected to channel that technical foundation directly into the consumer arena, focusing on developing and commercializing consumer-oriented AI companion robots that integrate emotional AI and autonomous navigation to create joyful everyday experiences.
Mr. Damian Chan, Chairman and Chief Executive Officer of Mint, said: "The signing of this joint venture agreement through Aspiration X represents a deliberate and decisive acceleration of our companion robot strategy. With the successful delivery of the FLOKI Minibot M1, we saw firsthand the enormous potential in AI companionship. Now, through Rice Robotics AGI, we are committing dedicated investment and strategic focus to expand our reach into the consumer market at scale. We believe we can meaningfully lower adoption barriers and serve the growing demand for intelligent, joyful companionship in family settings."
Mr. Victor Lee, Founder of Rice Robotics, commented: "Rice Robotics AGI was created to accelerate the development of, and build, consumer-ready AI robots that people genuinely want in their daily lives. Combining autonomous navigation with interactive AI capabilities, we are excited to take a meaningful step toward making companion robots accessible to more families through Rice Robotics AGI."
Rice Robotics AGI’s first batch of consumer-ready AI companion robots is expected to be introduced initially in Asian markets, with an official launch planned for Q3 2026. As Rice Robotics AGI's debut product line, these robots underscore the joint venture's commitment to making emotional AI companionship warm, accessible and joyful for families worldwide.
Photo Caption
Mr. Damian Chan, Chairman and Chief Executive Officer of Mint, and Mr. Victor Lee, Founder of Rice Robotics, at the signing of the JV Agreement
About Mint Incorporation Limited
Mint Incorporation Limited (NASDAQ: MIMI), a Hong Kong-based company listed on NASDAQ, specializes in artificial intelligence (AI), robotics, and interior design. Through its subsidiary, Aspiration X, Mint delivers intelligent robotics and facility management solutions to enterprises, real estate, shopping centers, government agencies, and more. Mint also operates Matter International Limited, providing professional interior design and renovation services. With a focus on innovation and practical applications, Mint is committed to enhancing efficiency, safety, and quality of life across industries.
About Rice Robotics Holdings Limited
Rice Robotics Holdings Limited is a renowned leader in autonomous delivery robot solutions, with a strong 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 high-profile clients 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.
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 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. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”).
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 |
