Virtual Mind Forms Majority-Owned Gold Venture to Expand IP-Driven Consumer Ecosystem

An announcement from Virtual Mind Holding Company Limited ( (HK:1520) ) is now available.

Virtual Mind Holding Company Limited has entered into an investment agreement through its wholly owned subsidiary Beijing 1520 Technology Co., Ltd. with Beijing Xiuman Technology Co., Ltd. to establish a joint venture, Chengdu Tianhe Xinrui Precious Metals Co., Ltd., in Chengdu, China. With registered capital of RMB5 million, Beijing 1520 will hold a controlling 51% stake and Beijing Xiuman 49%, making the venture a consolidated subsidiary that will pursue gold-related business by integrating pure gold products with sports, art, finance and cross-border trade. Management expects the initiative to ride growing consumer demand for innovative gold products such as “small gold pieces” and co-branded jewelry, enhance the Group’s IP-driven offerings, raise average transaction values and create new revenue streams, thereby strengthening the company’s competitive position and benefiting shareholders.

The most recent analyst rating on (HK:1520) stock is a Hold with a HK$0.84 price target. To see the full list of analyst forecasts on Virtual Mind Holding Company Limited stock, see the HK:1520 Stock Forecast page.

More about Virtual Mind Holding Company Limited

Virtual Mind Holding Company Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through subsidiaries such as Beijing 1520 Technology Co., Ltd. The Group focuses on leveraging AI and Web3 technologies to build a smart consumption ecosystem spanning sports, cultural tourism, entertainment and related fields, and has an established intellectual property (IP) business that it is seeking to extend into new sectors.

Average Trading Volume: 2,741,858

Technical Sentiment Signal: Sell

Current Market Cap: HK$837.6M

For detailed information about 1520 stock, go to TipRanks’ Stock Analysis page.