TANWAN (09890) Surges Over 12% in Afternoon Trading as Subsidiary Partners with COEXIST Group to Develop Art Derivatives

Stock News12-08

TANWAN (09890) rose more than 12% in afternoon trading, gaining 11.63% to HK$14.4 by the time of writing, with a turnover of HK$69.02 million. The surge follows the company's announcement that its subsidiary has signed an "Artist Works Development Cooperation Agreement" with COEXIST Group. The collaboration will integrate over 200 top-tier, mid-tier, and emerging toy artists to jointly develop, market, and promote derivative artworks.

This partnership highlights the group's strategy to leverage its strong foothold in digital entertainment to expand its presence in the trendy toy industry, enhancing its business ecosystem. The initiative marks a new chapter in blending "classic IPs + artist IPs" for innovative toy products.

In a related development, TANWAN secured a five-year exclusive licensing agreement in September with Chengdu Model Play Culture Communication Co., Ltd. for the distribution of non-functional 3D trendy toys—including figurines, blind boxes, sculptures, building blocks, and plush products—under "THE GARFIELD MOVIE" IP across Greater China (mainland China, Hong Kong, Macau, and Taiwan).

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