The9 (NCTY) has released an update.
The9 Limited, a prominent Internet company, has announced the formation of a joint venture with Zhejiang Huanyu Network Technology Co., Ltd. to manage the MIR game’s mobile and PC versions, with The9 owning a 51% stake. The venture guarantees impressive financials, with a commitment from Huanyu for annual revenue of at least RMB 600 million and profits of RMB 200 million in 2025, with a minimum 30% growth in the following two years. Incentives for Huanyu include The9 restricted shares, contingent on meeting the 2025 business targets, and subsequent rewards for achieving 2026 goals.
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