VIRTUAL MIND(01520.HK): Memorandum Signed with Saudi Rasiaph Art Institution to Expand Middle‑East Art IP Business

NewTimeSpace News: Virtual Mind(01520.HK) released a voluntary announcement on 4 August 2026. The Company entered into a memorandum of understanding for cooperation with Saudi‑Arabia‑based Rasiaph Art Production Institution on 3 August 2026.

Counterparty Rasiaph Art Production Institution is an art‑management entity registered in Saudi Arabia, wholly‑owned and headed as Chief Executive Officer by Prince H. H. Faisal bin Sultan bin Mohammed Al Saud. It boasts abundant art‑content resources and professional artwork‑management capabilities across Saudi Arabia and the Middle East. Holding licensing rights to Prince Faisal’s artworks, the institution intends to deploy all its art resources and professional expertise into this cooperation.

The two parties plan to cooperate across four core areas: exhibition organisation, exclusive exhibition cooperation, exclusive cooperation for artwork‑business expansion, and artwork digitisation. Exclusive‑cooperation clauses constitute core terms of the memorandum and shall remain legally effective during the memorandum’s validity period and for six‑months upon its termination.

The Board believes this cooperation will enable the Group to further expand its art‑IP business, enhance its global art‑IP development capacity and overall competitiveness, and is expected to generate new business‑growth drivers.

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