Choi Xing Toys (00869): The main licensing agreement will not be renewed from 2027.

The Wisdom Finance and Economics APP announced that Color Star Toys (00869) issued a notice. According to the current franchise agreement signed by Viacom Media Networks as the licensor ("Licensor") and the Group's wholly-owned subsidiary Color Star Toys International Limited Company ("PICL") as the licensee, PICL is granted the right to design, manufacture, distribute, and sell "Ninja Turtles" products ("Licensed Products"). Since October 2025, the two parties have been negotiating the renewal of the franchise agreement, but PICL has recently received formal notice from the licensor that the franchise agreement will not be renewed after it expires on December 31, 2026. Therefore, PICL's right to sell licensed products will end on December 31, 2026, and according to the franchise agreement, PICL's right to dispose of licensed product inventory will end ninety days after its expiry.