Road show record | From La Liga to the Middle East outlook, VIRTUAL MIND (01520) speeds up the construction of a global IP cooperation ecosystem.

From December 3rd to 5th, the "Winter Sunshine" exclusive event, jointly hosted by the first information platform GMTEight of Hong Kong and the one-stop service platform for overseas private equity funds in China, Xinzhijijin.com, with the support of S&P Global Market Intelligence and CITIZEN, successfully took place in Shenzhen and Hong Kong. During the event's roadshow, VIRTUAL MIND's Global Director of Investor Relations, Wu Yuesi, had face-to-face communication with investors on the company's business model, business progress, future strategies, and more. Below is a record of VIRTUAL MIND's roadshow: VIRTUAL MIND is a company listed on the Hong Kong Stock Exchange, dedicated to providing a full cycle of IP ecosystem construction and operation services for various IP holders and brand owners. In the consumer IP field, the company has formed three core businesses around IP commodity trading: IP digitization, IP product secondary trading, and IP ecosystem operation. The company integrates brands, IP, and creators into an open business network using the Web 3.0 infrastructure and AI technology of its ecosystem partners. Currently, the company has partnered with West Foot Chain Technology to establish a joint venture company specializing in the new consumer operation of Web 3.0 mode for sports IP economy, including IP categories such as star cards, figurines, and equity vouchers (such as offline experience vouchers, physical product exchange vouchers, and co-branded project experience vouchers). In the IP digitization business, the company uses blockchain technology to convert traditional IP products (tickets, derivatives, collectibles) into verifiable digital assets to ensure their authenticity, traceability, and standardized ownership, achieving secure and efficient digital IP management. For example, the AI technology-powered VR star card launched by the company transforms static cards into dynamic VR star cards that can be scanned and viewed on mobile phones for exciting moments. Users can store and purchase IP equity products in a self-managed blockchain card portfolio, VM Gallery, within the ecosystem and easily complete verification. In the IP product secondary trading business, the company cooperates with trusted trading platforms to facilitate genuine IP product transactions and provide a built-in royalty distribution mechanism for IP creators, ensuring both creator profits and subsidies for end consumers. In the IP ecosystem operation business, the company builds highly interactive fan communities through loyalty programs and co-creation activities to enhance long-term stickiness and value growth between IP brands and users. For instance, the company has established an online community called LaLiga Club for millions of LaLiga fans in China; set up i-520 Sports Art Interaction Center to create offline IP art interaction spaces in core urban areas with top international sports and arts IP; integrates isolated consumer scenes to form alliance ecosystems, improving consumption efficiency. To address the difficulties in verifying the authenticity and ownership of IP, the company uses blockchain technology to give IP products uniqueness and traceability, ensuring each work's authenticity, credibility, and transparent ownership records. Purchasers can easily conduct online authenticity verification to effectively prevent counterfeiting and fraud, while IP rights holders can monitor circulation trajectories in real-time to prevent unauthorized resale or infringement. To address the pain points of decentralized and opaque secondary trading channels, the company provides standardized online trading processes and settlement mechanisms to support cross-platform transactions for users to freely trade, collect, and showcase digital collections, enhancing asset liquidity. Smart contracts facilitate automated payments and royalty distribution to enhance transaction transparency and operational efficiency, achieving multiple wins by subsidizing end consumers while restraining market speculation. To address the lack of guaranteed creator profits and insufficient fan interactions, the company's IPs have built-in royalty mechanisms to automatically allocate profits to creators upon each resale. Fans can deeply engage through collaborative creation, limited edition collection items, and other activities, strengthening emotional connections and building sustainable value loops combining economic returns and community resonance. In the industrial IP field, the company has established a strategic cooperation with the Saudi Ministry of Industry and Mineral Resources to assist Saudi Arabia in advancing its national industrial IP construction under the "Vision 2030," including the ministry's "SMSC" (smart manufacturing and mega-complex) and "RAAS" (Siasun Robot & Automation as a Service) projects. The vision, proposed by Saudi Crown Prince Mohammed bin Salman in 2016, aims to diversify the economy, reduce reliance on oil, and focus on developing tourism, culture and entertainment, high-tech, industrial innovation, urban construction, and renewal. VIRTUAL MIND will deeply engage in the transformation wave of Saudi cultural, sports, tourism, and real estate industries focusing on Saudi industrial IPs. In September 2025, the company signed a comprehensive cooperation agreement with the Saudi Ministry of Industry and Mineral Resources to assist Saudi Arabia in building its national industrial IPs, supporting its industrial upgrade. As a strategic partner, the company has obtained the qualification for expanding the above-mentioned IP business and is currently designing product categories for the first phase and selecting qualified manufacturers. On December 1, 2025, as a strategic partner of the Ministry of Industry, the company organized over 30 Chinese companies to participate in the Saudi 2025 Industrial Exhibition (ITSA), operating the largest Siasun Robot & Automation exhibition center (over 1400 square meters) in the exhibition hall. The participation received high attention, with six ministers and over 200 CEOs from Saudi leading companies visiting the exhibition area for in-depth experiences and cooperation discussions. Q&A Session Q: Is the company's IP operation similar to B.DUCK SEMK's brand operation? A: We mainly focus on IP ecosystem operation and have collaborated with several globally influential IPs to help them achieve broader and more efficient promotion through blockchain technology. While there are similarities with B.DUCK SEMK's offline IP operation in our i-520 Consumer Alliance in Beijing, it is not our main business focus. Q: Besides sports and entertainment star IPs, is the company targeting the female consumer market? A: We cannot disclose specific project details at the moment, but we will soon launch IP collaborations focusing on female consumer groups, such as cultural tourism and entertainment events. Q: Are the current promotion methods similar to blind box sales? A: We will soon launch the official LaLiga app to provide members with ticket and merchandise purchasing and redemption services. Each IP has its dedicated fan base, and we will operate through fan communities. Blind boxes are just one of the product formats available for sale within the community, along with other benefits like star meet-and-greets, offline experiences, and more. Members can enjoy exclusive benefits and make purchases through the respective IP's app or fan community. We are currently collaborating with LaLiga, and we plan to expand to popular sports IPs like tennis, table tennis, badminton, skiing. Q: Does the company tend to collaborate with first-tier or second-tier IPs? Will the company develop its own IPs? A: Our current strategy primarily involves partnerships with top-tier IPs such as the LaLiga to gain broader influence and access to digital resources like star players, events, and media. We focus on empowering existing IPs with digital technology to enhance their operations and value. While our current collaborations are with international top-tier IPs, we do not rule out the possibility of incubating our IPs at the appropriate time. Q: What are the company's predictions for performance growth in the next one to two years? A: The company's IP business is in the early stages of expansion. Once the business model runs smoothly, it has the potential for rapid replication and scale-up. The consumer IP business has been operational for over a year and is about to enter the harvesting period. The solutions and services provided to the Saudi Ministry of Industry are expected to bring stable returns shortly. Overall, the company's performance has the potential for exponential growth.