VIRTUAL MIND (01520) announced that on September 26, 2025, the company signed a strategic cooperation letter of intent with the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia (Saudi Ministry of Industry and Mineral Resources). Under this agreement, both parties will engage in deep cooperation in Saudi Arabia's industrial smart upgrade sector, formulate training and promotion plans for industrial digital transformation, propose solutions to industry challenges related to advanced technology and industrial innovation in Saudi Arabia, strengthen cooperation in industrial production efficiency, product quality and competitiveness, as well as industrial city infrastructure, develop industrial supply chains, attract industrial investment and related technologies, promote industry integration, jointly build a global-oriented smart manufacturing super complex, and assist Chinese robotics companies in establishing operations in Saudi Arabia.
To advance cooperation with the Saudi Ministry of Industry and Mineral Resources, provide support to the Saudi Ministry of Industry and Mineral Resources, and focus on robotics industry ecosystem construction and smart manufacturing industry empowerment to help Saudi Arabia cultivate local industrial capabilities and create a regional technology and manufacturing hub, the company signed a cooperation framework agreement with Iflytek Co.,Ltd. (Iflytek) on September 26, 2025.
According to the cooperation framework agreement, the company and Iflytek intend to provide AI+robotics industry ecosystem construction for Saudi smart manufacturing projects, including jointly building smart robot training grounds and pilot testing centers; constructing artificial intelligence industry platforms; jointly exploring robotics super-brain technology scenario applications; AI+smart industrial application scenario construction; ecosystem industry empowerment and AI+industrial office product application exploration.
The Saudi Ministry of Industry and Mineral Resources aims to cultivate advanced manufacturing and innovation through the Saudi smart manufacturing project to enhance industrial knowledge and Saudi Arabia's global competitiveness, strengthen its economic complexity, improve current supply chain conditions, increase productivity, localize new advanced manufacturing sectors, increase manufacturing exports, introduce attractive high-skilled jobs, and create opportunities for leapfrog development in relevant global manufacturing indices.
The cooperation outlined in the letter of intent and framework agreement represents an important milestone for the company in the Web3 field and marks an expansion from consumer-level IP to industrial-level IP. This aims to leverage innovative business models to expand business areas, enhance the company's comprehensive competitiveness, and is expected to bring new business growth points for the company, having a positive impact on the company's future development.