HONG KONG SAR, Dec. 23, 2025 — Mint Incorporation Limited (Nasdaq: MIMI) (“Mint” or the “Company”), a prominent Hong Kong-based technology firm and provider of interior design and fit-out services, announced today that it received a notification letter (the “Notification Letter”) dated December 19, 2025. This letter, from The Nasdaq Stock Market LLC’s (“Nasdaq”) Listing Qualifications Department, informed Mint that it is not meeting the minimum bid price requirement stipulated by Nasdaq Listing Rule 5550(a)(2). This non-compliance stems from the closing bid price of the Company’s class A ordinary shares (referred to as “Class A Ordinary Shares”), which fell below $1.00 per share for 30 consecutive business days, specifically from November 6, 2025, through December 18, 2025.
This press release is being issued in accordance with Nasdaq Listing Rule 5810(b), which mandates the immediate disclosure of receiving a deficiency notification. The Notification Letter does not immediately impact the listing of the Company’s Ordinary Shares, which will continue to be traded on Nasdaq without interruption under the ticker symbol “MIMI”.
Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has a 180-calendar-day period, extending until June 17, 2026 (the “Compliance Period”), to restore compliance with Nasdaq’s minimum bid price standard. Should the closing bid price per share of the Company’s Ordinary Shares reach at least $1.00 for a minimum of 10 consecutive business days at any point during this Compliance Period, Nasdaq will issue a written confirmation of compliance to the Company, thereby closing the matter.
If the Company fails to regain compliance with the minimum bid price requirement by June 17, 2026, it might qualify for an additional 180-calendar-day grace period to achieve compliance. To be eligible, the Company must satisfy the ongoing listing requirement for the market value of publicly held shares and all other initial listing criteria for the Nasdaq Capital Market, excluding the bid price rule. Furthermore, it will need to submit written notification of its plan to rectify the deficiency during this second compliance period, potentially through a reverse stock split if deemed necessary. Should the Company opt for a reverse stock split, it must be completed no later than 10 business days before June 17, 2026, or the end of the second compliance period, if such a period is granted.
The Company’s business operations remain unaffected by the Notification Letter. Mint plans to closely monitor the closing bid price of its Ordinary Shares and, if deemed appropriate, may explore and implement various available strategies, such as, but not limited to, executing a reverse share split of its outstanding Ordinary Shares, to meet the minimum bid price requirement stipulated by the Nasdaq Listing Rules.
About Mint Incorporated Limited
Mint Incorporation Limited, a holding company established in the British Virgin Islands, conducts its primary operations through subsidiaries located in Hong Kong. The Company is strategically expanding into advanced technology sectors while continuing its core specialization in interior design and fit-out services. Through its wholly-owned subsidiary, Axonex Intelligence Limited (“Axonex”), launched in September 2025, the Company is quickly growing its high-tech innovation efforts. Axonex delivers extensive smart facility management solutions by integrating robotics, Internet of Things (IoT) devices, and AI-driven analytics. These solutions encompass real-time monitoring, predictive maintenance, digital twin technologies, object identification, human posture recognition, and optimized resource allocation to boost efficiency and safety. Axonex focuses on properties such as shopping malls, government buildings, residential complexes, and warehouses, supported by partnerships with technology firms like AIMO (HK) Limited and Sharp Peak Consulting Limited, alongside a joint venture, Axonex Robotics Limited, dedicated to robotics design. In addition to its technology ventures, Mint offers integrated interior design, fit-out, and maintenance services via its subsidiary, Matter International Limited. The Company provides conceptual design, layout planning, detailed drawings, project management, fixture and fitting installation, and repair services to notable commercial clients—including retail outlets, food and beverage chains, offices, and charitable organizations—as well as residential properties across Hong Kong.
Forward Looking Statements
This announcement contains certain forward-looking statements as defined by the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Any statements in this announcement that are not historical facts are considered forward-looking statements. These statements are not historical facts nor guarantees of future performance. Rather, they are solely based on the Company’s current beliefs, expectations, and assumptions concerning its business’s future, upcoming plans and strategies, forecasts, expected events and trends, the economy, and other future conditions. Given that forward-looking statements pertain to the future, they involve intrinsic uncertainties, risks, and shifts in circumstances that are challenging to foresee and often beyond the Company’s control. You can recognize forward-looking statements by their non-historical nature, especially those employing terms such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes,” or their negative counterparts or similar expressions. The Company’s actual outcomes and financial standing could vary significantly from what is suggested in these forward-looking statements. Consequently, undue reliance should not be placed on any of these forward-looking statements. Key factors that could lead to material differences between our actual results and financial condition and those indicated in the forward-looking statements include the risks and uncertainties detailed in the Company’s annual report on Form 20-F for the year ended March 31, 2025, submitted to the U.S. Securities and Exchange Commission (the “Commission”) on July 30, 2025, and the Company’s other submissions to the Commission. The Company disclaims any obligation to publicly update any forward-looking statement, whether written or oral, that may be issued periodically, whether due to new information, future developments, or otherwise.
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Mint Incorporated Limited
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Phone: +852 2866 1663
