HK Stock Market Move | VIRTUAL MIND(01520) increased by over 13%. Chengdu Gold Company has successfully opened. A solid step has been taken in the field of combining precious metals with sports industry intellectual property.

VIRTUAL MIND (01520) rose more than 13%, as of the time of this report, it has risen 11.48% to HKD 0.68, with a turnover of HKD 1.128 million. Recently, VIRTUAL MIND announced that its wholly-owned subsidiary, Beijing Yiwuling Technology Co., Ltd. (Beijing Yiwuling), has established a joint venture company "Chengdu Tianhe Xinrui Precious Metals Co., Ltd." (Chengdu Gold Company) in Chengdu, China, together with Beijing Xiuman Technology Co., Ltd. (Beijing Xiuman Technology). The joint venture company has officially opened for business and all work is progressing smoothly. The joint venture company has successfully obtained trading qualifications from the Shanghai Gold Exchange, marking a solid step forward for the Group in the field of combining precious metals and sports industry IP. Currently, the company is actively applying for membership in the international version of the Shanghai Gold Exchange. If this application is successful, it will help the Group connect the international and domestic markets, utilize its advantages in the sports industry and IP empowerment, and build a more perfect business ecosystem. The board of directors believes that the establishment of this joint venture company and the acquisition of qualifications will provide a solid foundation for the business development of the Group and bring strategic business support.