On December 15, 2025, CHINA NEXT-GEN (03928) announced that its indirect wholly-owned subsidiary, Shanghai Ruilinggu Enterprise Management, entered into an equity transfer agreement with seller Mita Culture (Shanghai). The seller agreed to sell, and the buyer agreed to purchase, 100% equity of Shanghai Mita for RMB1.5 million. Payment was completed on the same day as the agreement's execution, pending customary filings and registrations.

Considering Shanghai Mita's core business in trendy toy product design, development, and sales, the company's low initial investment commitment, and the opportunity to expand the group's presence in China's rapidly growing trendy toy industry, the board believes this acquisition presents a strategic opportunity for geographical and business diversification.