VIRTUAL MIND (01520) signs a memorandum of understanding with the Saudi royal arts institution to layout the global art IP business.

VIRTUAL MIND (01520) announced that on August 3, 2026, the company signed a memorandum of understanding with the Saudi art production agency Lasiaf Art Production Agency. According to the memorandum, both parties intend to explore the establishment of a strategic partnership to engage in global cooperation in the art IP business. The announcement states that the purpose of this cooperation is to integrate the art content resources of the partner agency with the company's IP operational management experience and technical capabilities, achieving mutually beneficial outcomes in exhibition planning, art business expansion, and art digitization. Both parties plan to collaborate in the following core areas: exhibition planning, exclusive collaboration for exhibitions, exclusive cooperation in art business expansion, and art digitization. It is reported that the partner agency, Lasiaf Art Production Agency, is a registered art management organization in Saudi Arabia with rich art content resources and expertise in art management across Saudi Arabia and the entire Middle East. The agency is wholly owned by Saudi Prince H. H. Faisal bin Sultan bin Mohammed Al Saud (Prince Faisal), who serves as CEO. The agency holds the authorization for art works related to Prince Faisal and has abundant art content resources in Saudi Arabia and the Middle East, which it intends to contribute along with its professional art management capabilities to this cooperation. The art works related to Prince Faisal will also be one of the authorized art contents in this collaboration. The board of directors believes that the partner agency possesses rich art content resources, and this cooperation will help the group further expand its art IP business. This cooperation marks an important milestone for the company in the field of art IP business, effectively enhancing the groups expansion of art IP on a global scale, enhancing the companys overall competitiveness, and is expected to bring new business growth points, positively impacting the company's future development. It is understood that Prince Faisal is a versatile artist with notable achievements in poetry, painting, and film. As one of the most renowned artists in Saudi Arabia and the Middle East, his artworks have been exhibited globally, and his piece "The Old Market" has won first prize in a specialized competition in Vienna, leaving a valuable historical record of traditional Saudi architecture and market life. In the film industry, Prince Faisal has participated as an independent filmmaker in the production of several artistic films, conveying more Arab cultural heritage to the world.