The9 Limited American Depository Shares representing three - NCTY STOCK NEWS

The9 (Nasdaq: NCTY) announced that its subsidiary signed an amendment agreement with joint venture partner Huanyu, increasing committed annual revenue targets for 2025 from RMB600 million to RMB900 million (US$124 million) and profit targets from RMB200 million to RMB300 million (US$41 million). The joint venture, established in September 2024 with The9 holding 51% stake, will maintain its commitment to 30% annual growth in 2026 and 2027.

The venture will operate various games including MIR M, with The9 granting exclusive rights for certain iOS and Android channels. The9 issued 475,102,500 restricted shares to Huanyu, equivalent to 1,583,675 ADSs, which will unlock based on 2025 business results.

DDC Enterprise (NYSEAM: DDC) has appointed George Lai as an independent member of its Board of Directors, replacing Ms. Wei Qiao who resigned on November 30, 2024. Lai will serve on all Board Committees and chair the Audit Committee as the designated financial expert.

Lai brings significant financial expertise as the current CFO of The9 (NASDAQ: NCTY) since 2008 and board member since 2016, where he oversees Bitcoin mining operations and financial management. He also serves as an independent director at Qingdao Port International. His previous experience includes eight years at Deloitte Touche Tohmatsu, working in Hong Kong, New York, and Beijing offices, where he participated in numerous IPO projects and assisted public companies with accounting matters.

NIP Group has formed a strategic partnership with The9 's subsidiary China Crown to develop MIR M into a competitive esports title. The collaboration focuses on three key areas: in-game esports integration, tournament system development, and promotion/marketing. China Crown holds the exclusive publishing license for MIR M in Mainland China since May 2024. The partnership aims to create a commercialized tournament ecosystem and expand the game's market presence through NIP Group's esports expertise and The9's gaming experience.

The9 (Nasdaq: NCTY) has announced an extraordinary general meeting (AGM) scheduled for December 27, 2024, in Hong Kong. The AGM will vote on three key proposals: the re-election of four directors, an increase in authorized share capital to US$500,000,000, and amendments to the company's memorandum and articles of association. Additionally, the Board has approved the issuance of 50,000,000 Class B ordinary shares to CEO Mr. Jun Zhu to maintain management control amid expected business expansion in AI and online gaming sectors. The record date is set for November 25, 2024.

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.