Virtual Mind (HKG:1520) said its Beijing 1520 Technology unit plans to form a joint venture with Beijing Xiuman Technology in China, according to a Hong Kong bourse filing Thursday.

The venture will be focused on developing gold-related businesses and integrate finance, sports, art, and cross-border trade, Virtual Mind said.

The venture will have a registered capital of 5 million yuan, of which Beijing 1520 will contribute 2.55 million yuan and 2.45 million yuan will come from Beijing Xiuman Technology.

The venture will help Virtual Mind expand into the gold business and further extend its intellectual property into the gold industry, the company said.