The9 (NCTY) has released an update.
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The9 Limited, an established internet company, has entered into a share purchase agreement with KuaiJin Shidai Technology Co., Ltd., acquiring a 15% stake with an option to increase to 51% within two years, based on a $60 million valuation of KuaiJin. KuaiJin’s AI unmanned retail store platform has already modernized over 500 traditional retail stores across 100 cities in China, enhancing retail efficiency and data analytics capabilities. This strategic investment is expected to boost The9’s presence in AI applications and support the expansion and service improvements of KuaiJin’s AI retail stores.
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