NIP Group Inc. American Depositary Shares - NIPG STOCK NEWS

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.

NIP Group reported financial results for H1 2024 showing mixed performance. Total net revenues increased 2.0% YoY to US$39.3 million, with event production revenue surging 376.5% to US$8.7 million. The company narrowed its net loss by 59% to US$4.7 million from US$11.3 million in H1 2023. Operating expenses decreased 49% YoY. Notable developments include completing a US$20.25 million IPO on NASDAQ, entering strategic partnerships in hospitality and game publishing, and acquiring Young Will with its 115 million social media following. The company is expanding into the Middle East through a term sheet with Abu Dhabi Investment Office.

NIP Group (NASDAQ: NIPG), a digital entertainment company, has scheduled to release its financial results for the first half of 2024 on November 25, 2024, before U.S. market opening. The management will host a conference call at 7:00 A.M. U.S. Eastern Time (8:00 P.M. Beijing Time) on the same day to discuss the results. Participants must register online to receive dial-in numbers and access PIN. A live and archived webcast will be available on the company's investor relations website.

NIP Group Inc. (NASDAQ: NIPG) has signed a definitive agreement to acquire Wuhan Young Will , a leading talent management company specializing in short-form video content creation and influencer development. This strategic acquisition aims to strengthen NIP Group's position in talent management and expand its digital entertainment ecosystem.

Young Will, founded in 2019, has over 115 million fans across major Chinese social media platforms and manages more than 100 signed influencers. The acquisition will diversify NIP Group's revenue streams, enhance its talent management capabilities, and provide a platform to amplify marketing efforts for its game publishing business.

The acquisition involves NIP Group issuing new shares worth approximately US$3.3 million for a 61% stake in ZSZQ , Young Will's parent company. NIP Group will acquire an additional 13% each year from 2025 to 2027, subject to certain conditions. The transaction is expected to close in 2027.

NIP Group Inc. (NASDAQ: NIPG) has announced the appointment of Randy Hearst Harris as an independent director to its Board of Directors, effective September 24, 2024. Mr. Harris, founder of sports management company 3V and a member of the Hearst family, brings extensive experience in sports management, technology, and digital entertainment. A Loyola Marymount University graduate, he is a seasoned investor with a diverse portfolio including real estate, technology, and AI ventures.

Mario Ho, Chairman and Co-CEO of NIP Group, expressed enthusiasm about Harris's addition to the board, citing his expertise and alignment with the company's strategic vision. Hicham Chahine, Co-Founder and Co-CEO, highlighted Harris's leadership experience and industry understanding as valuable assets for guiding NIPG through its growth phase.

eStar Gaming, a subsidiary of NIP Group (NASDAQ: NIPG), has announced its intention to collaborate with Dalian Young Boy Football Club. This partnership aims to explore innovative business models that integrate esports and traditional sports, enhancing urban culture, tourism, and the consumer economy. The collaboration is expected to deliver unique fan experiences and explore new avenues for growth in both industries.

The partnership comes as esports gains popularity among younger audiences, with the domestic esports industry reaching approximately 490 million users in 2023, including over 300 million young users. This integration is seen as a way to revitalize sports culture and foster growth for traditional sports and local cultural tourism.

NIP Group's eStar FPS division has claimed victory at the 2024 World Cyber Games (WCG) CrossFire tournament in Jakarta, Indonesia. The team, consisting of players xyu, quzi, hxh, YGao, care, and 67, dominated the competition with three consecutive wins against teams from Vietnam, the Philippines, and Indonesia. This victory marks a significant achievement for eStar in the CrossFire competitive scene and showcases their ability to perform at the highest level internationally.

The WCG, founded in 2000, is one of the most prestigious esports events globally. eStar earned their spot in the tournament by winning the 2024 CrossFire Glory Cup in July, representing China in this international competition. The team's flawless performance over the two-day event solidifies their position as a top contender in the CrossFire esports landscape.

NIP Group Inc. (NASDAQ: NIPG) has announced its entry into the game publishing market, marking a significant expansion of its digital entertainment ecosystem. This strategic move leverages the company's esports expertise to tap into the youth-driven gaming market. NIP Group's game publishing strategy will focus on esports-oriented titles and explore opportunities in various game categories, including mini-games for social media platforms, mobile games, and PC games.

The new division will be led by Hang "Allen" Sui, Chief Operating Officer of NIP Group, who brings approximately 15 years of experience in the esports and gaming industry. This expansion is expected to drive significant growth and strengthen NIP Group's position in the competitive gaming landscape.

NIP Group, a leading digital entertainment company, hosted the '2024 Wuhan Disabled Esports Promotion Event' on July 12-13 at its headquarters in Wuhan, China. The event, organized by the Wuhan Disabled Persons' Federation, brought together over 20 disabled esports enthusiasts, offering them comprehensive guidance and training. Zhang 'Ray' Lei, Chief Experience Officer of NIP Group, emphasized the inclusivity of esports for disabled individuals. MAG Studio, NIP Group's event production brand, provided volunteer support. Participants received professional training from Huang 'Orange' Shiyu, Chen 'Sherry' Fanghui, and Liu Wei. The initiative aligns with NIP Group's commitment to social responsibility and fostering an inclusive esports ecosystem.