Playmates' subsidiary to lose key Teenage Mutant Ninja Turtles licensing deal

Playmates Holdings Limited announced today that its major subsidiary, Playmates Toys Limited (PTL), will not have a key license agreement renewed. Playmates International Company Limited (PICL), a wholly-owned subsidiary of PTL, was formally notified by Viacom Media Networks that their existing license agreement for "Teenage Mutant Ninja Turtles" products will expire on December 31, 2026, and will not be renewed. As a result, PICL's rights to sell these licensed products will cease at year-end 2026, with an additional 90-day period for inventory disposal.

PTL, in which Playmates Holdings holds approximately 50.85%, has reported significant revenue contributions from these licensed products. For the year ended December 31, 2021, these products accounted for approximately 8% of PTL's consolidated revenue. This figure increased to 13% in 2022, surged to 77% in 2023, and was 47% in 2024. For the six months ended June 30, 2025, the licensed products represented 36% of PTL's consolidated revenue.

For Playmates Holdings, the revenue from these licensed products represented approximately 6% of the Group's consolidated revenue in 2021, 9% in 2022, 67% in 2023, 40% in 2024, and 26% for the six months ended June 30, 2025. The Board will assess the impact of this non-renewal on the Group’s financial performance and will provide updates as appropriate. Shareholders and investors are advised to exercise caution.