| Schedule of Consolidated Financial Statements |
The principal entities included in the consolidated financial statements as of July 31, 2026 were: | Entity | | Jurisdiction | | Ownership / relationship | | Principal activities | | | Bao Cayman | | Cayman Islands | | 100% owned by CTW | | Investment holding | | | CTW Inc. (“CTW Japan”) | | Japan | | 100% owned by Bao Cayman | | Game distribution and related services | | | CTW G123 Singapore Pte. Ltd. (“CTW Singapore”) | | Singapore | | 100% owned by Bao Cayman | | Game distribution and related services | | | CTW HK Limited (“CTW HK”) | | Hong Kong | | 100% owned by CTW | | Investment holding | | | Beijing Weiyou Chuxin Tech Co., Ltd. (“WFOE”) | | Beijing, PRC | | 100% owned by CTW HK | | Investment holding | | | Shanghai Weiyouyi Chuxin Technology Co., Ltd. (“CTW Shanghai”) | | Shanghai, PRC | | 100% owned by WFOE | | Research and development center | | | Change the World Corporation (“CTW Korea”) | | Seoul, Korea | | 100% owned by CTW Japan | | Platform development and end-user support | | | CTW US Inc. (“CTW US”) | | Delaware, USA | | 100% owned by CTW | | Platform development and end-user support | | | AinekoX Co., Ltd. (“AinekoX”) | | Taiwan | | VIE | | Art and design center | | | Shanghai Tuwaii Tech Co., Ltd. (“Tuwaii”) | | Shanghai, PRC | | VIE | | Research and development center (no operating activity since January 2026) | | | Shanghai Cangyuan Zhidian Tech Co., Ltd. (“Cangyuan”) | | Shanghai, PRC | | VIE | | Platform development and support | |
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| Schedule of Financial Information of the Vies, Before Intercompany Eliminations |
The following financial information of the VIEs, before intercompany eliminations, is included in the consolidated financial statements: | | | As of July 31, | | | | | 2026 | | | 2025 | | | Current assets | | $ | 947,070 | | | $ | 963,273 | | | Non-current assets | | | 3,872,862 | | | | 4,966,830 | | | Total assets | | $ | 4,819,932 | | | $ | 5,930,103 | | | Current liabilities | | | 1,199,548 | | | | 1,308,319 | | | Non-current liabilities | | | 3,245,413 | | | | 4,676,603 | | | Total liabilities | | $ | 4,444,961 | | | $ | 5,984,922 | | | Of which: amounts due from Group entities | | | 706,652 | | | | 194,661 | | | Of which: amounts due to Group entities | | | 998,402 | | | | 1,227,896 | | | | | For the years ended July 31, | | | | | 2026 | | | 2025 | | | 2024 | | | Net revenue | | $ | 5,779,482 | | | $ | 6,024,802 | | | $ | 1,081,753 | | | Net income (loss) | | | 417,815 | | | | (20,121 | ) | | | (187,608 | ) | | Net cash provided by (used in) operating activities | | | 220,082 | | | | 319,269 | | | | (276,307 | ) | | Net cash used in investing activities | | | (323,451 | ) | | | (480,812 | ) | | | (209,688 | ) | | Net cash provided by financing activities | | | — | | | | 282,175 | | | | 856,591 | |
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