VIRTUAL MIND (01520) announced details regarding its subsidiary, Chengdu Tianhe Xinrui Precious Metals Co., Ltd. (Chengdu Company), covering its establishment, official commencement of operations, acquisition of trading membership with the Shanghai Gold Exchange, and the advancement of its IP gold product sales business. This business is founded on national gold management policies. Leveraging its Shanghai Gold Exchange membership, the company has established a dual closed-loop system: one for "physical gold recycling - compliant circulation - Shanghai Gold Exchange delivery" and another for "purchasing standard gold from the exchange - outsourced processing - physical sales of gold IP products." This system facilitates the standardized, large-scale, and compliant circulation of gold assets. Acting as an operational platform, Chengdu Company connects upstream gold sources with downstream markets, including the Shanghai Gold Exchange and the customized gold IP products market. Relying on its capital strength, compliance capabilities, and delivery capacity, it provides liquidity and compliant delivery support services for gold trading and customized gold IP products. The core objective of Chengdu Company is to build replicable, compliant gold circulation infrastructure to support the national gold reserve system. Chengdu Company began trial operations in March 2026. Based on management information (unaudited), the company's operating data for March 2026 is as follows: comprehensive sales revenue from gold business was approximately RMB 23 million; and operating gross profit exceeded RMB 3 million. Chengdu Company is actively promoting the integration of sports, cultural, and other major IPs with gold products. The first phase of its plan involves launching a gold memorabilia series featuring internationally renowned sports intellectual properties, including Spain's La Liga and UK's Manchester United PLC. This product series will combine the value-preserving attributes of precious metals with the collectible value of sports IPs, practicing a model that links digital assets with physical gold. The related product design work is currently complete, and the company is now in the stage of supplier coordination and product preparation. This business progress aligns with the Group's core development strategy of "Technology × IP × Scenarios." The Board of Directors believes that the steady development of Chengdu Company's operations and the continued advancement of the IP gold products business will help the Group further diversify its business structure and explore new revenue sources, which is in the overall interests of the Company and its shareholders.