China Next-Gen Commerce and Supply Chain Limited (Stock Code: 3928) has announced that one of its subsidiaries, Shanghai Mitaki Culture Development Company Limited, entered into a new Lease Service Framework Agreement with Seazen Holdings Co., Ltd. The arrangement covers leasing services and property management services for the Group’s operations, spanning from the effective date of shareholder approval until 31 December 2027.

Under this agreement, Seazen Holdings Group will provide leasing of premises and associated property management, with pricing determined either by a fixed-rent approach, a variable rate calculated as a percentage of turnover, or the higher of the two. The annual transaction caps, covering rental and property management fees, are set at RMB1.5 million for the year ending 31 December 2025 and RMB40.0 million for each of the years ending 31 December 2026 and 2027.

According to the announcement, the agreement aims to support the Group’s expansion plan, particularly in the fast-growing trendy toys collectibles sector, allowing new specialty stores and automated vending machines to operate under flexible lease terms. An extraordinary general meeting is scheduled for 24 February 2026, at 10 a.m. in Hong Kong to seek independent shareholders’ approval for the agreement and its annual caps. A circular containing further details, including recommendations from the board, the Independent Board Committee, and the independent financial adviser, has been made available to shareholders.