| Schedule of Consolidated Financial Statements |
The unaudited condensed consolidated
financial statements as of January 31, 2026 and July 31, 2025 and for the six months ended January 31, 2026 and 2025 include the following
entities:
| Name of Entity | | Date of
Incorporation | | Places of
Incorporation | | % of
Ownership | | Principal Activities | | CTW Cayman | | November 15, 2024 | | Cayman | | Parent | | Investment holding | | Bao Cayman | | June 9, 2023 | | Cayman | | 100% owned by CTW Cayman | | Investment holding | | CTW Inc. (“CTW Japan”) | | August 14, 2013 | | Japan | | 100% owned by Bao Cayman | | Game distribution and related services | | CTW G123 Singapore Pte., Ltd. (“CTW Singapore”) | | September 11, 2023 | | Singapore | | 100% owned by Bao Cayman | | Game distribution and related services | | CTW HK Limited (“CTW HK”) | | November 29, 2024 | | Hong Kong | | 100% owned by CTW Cayman | | Investment holding | | Beijing Weiyou Chuxin Tech Co., Ltd. (“WFOE”) | | September 25, 2024 | | Beijing, PRC | | 100% owned by CTW HK | | Investment holding | | Shanghai Weiyouyi Chuxin Technology Co., Ltd. (“CTW Shanghai”) | | April 24, 2025 | | Shanghai, PRC | | 100% owned by WFOE | | Research and development center | | Shanghai Tuwaii Tech Co., Ltd. (“Tuwaii”) | | March 4, 2025 (Inactive since May 2025) | | Shanghai, PRC | | VIE | | Research and development center | | Shanghai Cangyuan Zhidian Tech Co., Ltd. (“Cangyuan”)* | | November 26, 2025 | | Shanghai, PRC | | VIE | | Platform development and end-user support | | Change the World Corporation (“CTW Korea”) | | November 25, 2024 | | Seoul, South Korea | | 100% owned by CTW Japan | | Platform development and end-user support | | AinekoX Co., Ltd. (“AinekoX”) | | October 12, 2023 | | Taiwan | | VIE | | Art and design center | | CTW US Inc. (“CTW US”) | | April 3, 2025 | | Delaware, USA | | 100% owned by CTW Cayman | | Platform development and end-user support |
| *: | On November 26, 2025, Mr. Ryuichi Sasaki, the Founder, Chairman of the Board of Directors
and Chief Executive Officer of the Company, together with Mr. Hairihan Tong, the Company’s Chief Technology Officer, established
Shanghai Cangyuan Zhidian Tech Co., Ltd. (“Cangyuan”) in the PRC. Cangyuan was established to explore potential game distribution
and related opportunities in Mainland China. |
|
| Schedule of Assets, Liabilities, Results of Operations and Changes in Cash and Cash Equivalents of the VIEs |
The following table sets
for the assets, liabilities, results of operations and changes in cash and cash equivalents of the VIEs, which were included in the Group’s
unaudited condensed consolidated financial statements before elimination of intercompany balances and transactions between the Group and
the VIEs.
| | |
As of | |
| | |
January 31,
2026
(Unaudited) | | |
July 31,
2025 | |
| Total current assets | |
$ | 731,275 | | |
$ | 963,273 | |
| Total assets | |
$ | 4,946,730 | | |
$ | 5,930,103 | |
| Total current liabilities | |
$ | 1,297,542 | | |
$ | 1,308,319 | |
| Total liabilities | |
$ | 4,800,549 | | |
$ | 5,984,922 | |
| | |
For the Six Months Ended
January 31, | |
| | |
2026
(Unaudited) | | |
2025
(Unaudited) | |
| Net revenue | |
$ | 3,597,156 | | |
$ | 2,707,994 | |
| Net income | |
$ | 181,499 | | |
$ | 61,432 | |
| | |
For the Six Months Ended
January 31, | |
| | |
2026
(Unaudited) | | |
2025
(Unaudited) | |
| Net cash provided by (used in) operating activities | |
$ | 20,762 | | |
$ | 408,945 | |
| Net cash used in investing activities | |
$ | (55,640 | ) | |
$ | 94,489 | |
| Net cash provided by financing activities | |
$ | — | | |
$ | — | |
|