On November 27, 2025, Tanwan Inc. (9890.HK) (hereinafter referred to as the “Company”, together with its subsidiaries and the PRC Operating Entity, the “Group”) entered into a five-year Artist Work Development Cooperation Agreement with COEXIST CO., LIMITED (共凝文化集团有限公司) and Shenzhen Gongyisi Culture Limited (深圳市共艺斯文化有限公司) (collectively referred to as the “COEXIST Group”). The collaboration brings together over 200 top-tier, mid-tier, and rising artists to jointly develop, market, and promote art derivatives. Leveraging the Group’s extensive digital entertainment expertise, this partnership will expand the Company’s footprint in the pop toy industry, refine its business ecosystem, and pioneer a new era of pop toys integrating “Classic IP + Artist IP”.
Forging Powerful Alliances: Integrating Premium Resources for Professional Specialization
Leveraging its exceptional artist resource integration capabilities, COEXIST Group will assemble over 200 global top-tier, mid-tier, and rising artists to create a rare IP matrix that combines artistic excellence with commercial value. This initiative precisely aligns with business needs, enabling seamless integration of artistic creation with brand licensing, product development, and exhibition implementation. The licensing scope covers the rights to develop, design, produce, and market derivative products based on the artists’ original artworks, animated characters, visual elements, character names, names, logos, designs, themes, original sketches, as well as related trademarks, intellectual property rights, etc.
During the collaboration, the Company’s pop toy brand TANWAN will obtain an exclusive authorization to develop, design, produce, and market artist-created pop toys—including sculptures, plush products, figurines, building blocks, ball-jointed dolls (BJD), and three-dimensional derivative products such as art toys; and will simultaneously collaborate on the non-exclusive authorization for other derivative products across all categories. Relying on the Group’s profound accumulation in the digital entertainment field, TANWAN will fully utilize its professional advantages in product development, channel sales, event planning, and creative promotion to drive the diversified value release of artistic IPs.
Full-Chain Empowerment: Creating a New Paradigm of “Classic IP + Artist IP”
TANWAN’s Strategic Cooperation Agreement with international creative arts organization COEXIST Group is not merely a simple authorized development cooperation for works but is committed to creating a new “Artist IP” paradigm. The Company will fully leverage its core strengths in internet user insight, big data analysis, and precision marketing to provide signed Artists of COEXIST Group with full-chain support, from initial creation positioning and market potential assessment to product development, event planning, and multi-channel precision promotion, helping artists to realize the unity of creative value and market value.
In the future, the Company will further explore collaboration opportunities with the Artists, enhance the cooperative relationship with the COEXIST Group, and gradually extend the cooperation to the Group’s owned brands such as BRO KOOLI, CASHY BABY, LILIA ANGEL, as well as internationally-renowned classic IP brands like Garfield Family (加菲猫), Sesame Street (芝麻街), PINGU (企鹅家族), etc. Through diverse creative synergies, the Group aims to diversify IP product development, offering more premium pop toys to players worldwide.
Deepening IP Ecosystem Strategy: Building a New Three-Pillar Pop Toy Ecosystem
In its strategic planning for the pop toy industry, the Group consistently prioritizes the “IP Ecosystem Strategy” as its core, dedicated to building a new pop toy ecosystem with three pillars: the “Classic IP + Artist IP” system, “Emotional Interactive Design,” and “Scenario-based Social Experience”. TANWAN consistently upholds the pop toy brand proposition of "Illuminating Daily Life with Creativity and Fun", deeply integrating digital technology with artistic creation. Each pop toy becomes an emotional vessel that carries narrative and interactive elements, serving as a medium for users to achieve emotional resonance and express individuality.
Meanwhile, through diversified formats—including online community operations and user co-creation, collaborations with offline trendy commercial districts, themed exhibitions, and pop-up store deployments—TANWAN will embed pop toy IPs into the high-frequency lifestyle scenarios of younger generations. By developing functional designer toy products tailored to different scenarios, TANWAN aims to position pop toys as connectors linking people with one another, with spaces, and with culture—bringing art into everyday life and delivering consumption experiences enriched with emotional value and immersive engagement..
Looking forward, the Group will further refine its IP ecosystem strategy, remaining firmly user-oriented to expand the scope and depth of its pop toy business. Leveraging its resource advantages and innovation capabilities, the Group is committed to delivering premium pop toys to players worldwide, driving the sustainable growth of the industry.