Street Calls of the Week
HONG KONG - Mint Incorporation Limited (NASDAQ:MIMI), a Hong Kong-based interior design and fit-out works provider with a market capitalization of $200 million, announced Thursday that the company and certain shareholders have entered into voluntary lock-up agreements covering approximately 26.7% of outstanding Class A ordinary shares and all Class B ordinary shares. The stock has shown remarkable momentum, gaining over 100% in the past six months.
The lock-up period began on September 30, 2025, and will continue until March 31, 2026. The agreement includes shares owned by Chairman Cheong Shing Ku and Director and CEO Hoi Hung Chan. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 9.59 and holds more cash than debt on its balance sheet.
In total, the voluntary lock-ups cover 4,811,800 Class A ordinary shares and 7,000,000 Class B ordinary shares. These represent a significant portion of the company’s total issued and outstanding shares.
"These voluntary lock-up agreements demonstrate our confidence in Mint’s vision and the execution of our growth strategy," said Chan in the press release statement.
Mint Incorporation specializes in interior design and fit-out works for commercial properties, including offices across various industries and retail stores. The company has completed projects for retail brands, F&B chains, offices, and charitable organizations in Hong Kong. It also provides interior design services for luxury residential properties.
The announcement comes approximately two months after the company filed its annual report for the fiscal year ended March 31, 2025, with the U.S. Securities and Exchange Commission. While the company reported a gross profit margin of 22.23%, recent financial data shows it is not yet profitable over the last twelve months.
In other recent news, Mint Incorporation Limited announced that it has secured a subcontracting agreement with Pop Mart Hong Kong Limited. Through its wholly owned subsidiary, Matter Interiors Limited, Mint will deliver routine repairs and maintenance, along with air-conditioning services, for Pop Mart’s retail shop in Hong Kong. This development highlights Mint Incorporation’s expanding footprint in the maintenance sector. The agreement signifies a strategic move for Mint as it continues to build its portfolio of service contracts. These recent developments position the company to potentially enhance its service offerings and client base in the region.
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