The9 Limited American Depository Shares representing three - NCTY STOCK NEWS

The9 (Nasdaq: NCTY) has announced a joint venture with ShaoXing TongZe Network Technology Co., to operate an AI algorithms and big data marketing business. The9 will hold a 51% stake in the joint venture, which will become one of its consolidated subsidiaries. TongZe has committed to reaching over 100 million pan-MIR tag users and 30 million paid MIR users, projecting an annual profit of more than RMB100 million (approximately US$14 million) in 2025.

The9 will grant TongZe restricted shares worth RMB 42.5 million, to be unlocked based on the joint venture's 2025 profit achievement. The partnership aims to utilize AI technology and big data for more efficient marketing of online games, particularly for The9's upcoming new MIR game, MIR M. TongZe's CEO expressed confidence in achieving the committed profit target for the joint venture in the next year.

The9 (NCTY) has announced a joint venture with Zhejiang Huanyu Network Technology to operate the new MIR game, MIR M, for mobile and PC. The9 will hold a 51% stake in the joint venture, which is expected to become a consolidated subsidiary. Huanyu has committed to annual revenue of RMB600 million (US$84 million) and profit of RMB200 million (US$28 million) for 2025, with a 30% annual increase in 2026 and 2027.

The9 will grant Huanyu restricted shares worth approximately RMB98 million, to be unlocked based on achieving business commitments. The company's total sales target for MIR M in 2025 is RMB2 billion. This partnership aims to leverage the MIR IP and attract existing MIR players to the new game.

The9 (Nasdaq: NCTY) announced a definitive share purchase agreement to acquire 19% of Wuhan Weixiang Science and Technology, an AI-powered educational tech company. This deal includes cash payment and 284,465,400 restricted Class A ordinary shares. The9 has an option to purchase up to 51% of Weixiang based on a valuation of seven times Weixiang's audited annual profit, provided the valuation exceeds $45 million. Weixiang uses AI for content creation, live streaming, teaching assistants, and customer service, boasting over 9 million followers on platforms like TikTok and WeChat. The9's shares will release from lock-up conditions tied to market capitalization milestones ranging from $200 million to $1 billion. The transaction aims to enhance educational access and quality through AI-driven solutions.

The9 (Nasdaq: NCTY), an established Internet company, has announced a strategic private placement agreement with Fine Vision Fund, managed by Finewill Capital. Fine Vision Fund will invest $3.5 million in The9, with an initial $2.5 million upfront and a subsequent $1 million based on predefined conditions. The agreement involves issuing Class A ordinary shares to Fine Vision Fund at a 15.6% premium for the upfront investment and a 25% premium for the second installment, based on the average closing price over the previous thirty trading days. The issued shares will be subject to a statutory lock-up period. This investment aims to leverage the synergies between traditional and Web3 games, positioning The9 as a leader in this evolving market.

The9 (Nasdaq: NCTY) announced that its subsidiary, China Crown Technology, has secured an exclusive publishing license for the new MIR M game from Wemade. This agreement allows China Crown to publish and service the game in mainland China for both mobile and PC platforms. The license term is 5 years from the commercial launch, expected in early 2025, with a possible 1-year extension. The game may incorporate blockchain technology, subject to PRC regulations. The9 aims to leverage AI in game development to enhance NPCs, procedural content generation, and personalized behavior prediction.

The9 announced a definitive share purchase agreement with KuaiJin Shidai to acquire a 15% stake in KuaiJin, an AI unmanned retail platform in China. The deal involves a cash payment of $1.5 million and the issuance of 318,448,800 restricted Class A shares. The9 also secured an option to purchase up to 51% of KuaiJin within two years, based on a valuation of $60 million. KuaiJin has already transformed over 500 retail stores across 100 cities, offering 24/7 operation and reduced payroll costs via AI-powered systems. The release of The9's shares is contingent on market cap milestones and other conditions.

The9 achieved a 66% increase in net revenues and turned net loss into net income for the year ended December 31, 2023. The company's net revenues rose from RMB108 million in 2022 to RMB179 million in 2023, while net income reached RMB13 million compared to a net loss of RMB975 million in 2022. The Chairman and CEO highlighted the growth in the cryptocurrency mining business and the company's entry into AI applications in various industries.

The9 (NCTY) investee WM Therapeutics Co., achieves breakthroughs in antidepressant drug precision treatment using GenAI technology. The new clinical trial results show significant progress in identifying effective subtypes for depression treatment, offering hope to patients worldwide.

The9 (NCTY) has signed a definitive agreement with WM Therapeutic to purchase additional shares, totaling 30% ownership. The agreement includes cash payment and issuance of restricted shares. WM Therapeutic focuses on GenAI large language model brain disease screening platform and AI drug clinical research platform.