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The9 ( (NCTY) ) has issued an update.
On February 21, 2025, The9 Limited announced the establishment of a joint venture with Chengdu Qing Cheng Network Science and Technology Co., Ltd. to focus on the mobile game operation and distribution in China’s lower-tier, or ‘sinking’, market. The9 will hold a 51% stake in the venture, which is expected to become its flagship subsidiary in this sector. Qing Cheng has committed to an annual profit of RMB80 million in 2025 with a growth rate of 50% annually in subsequent years. This strategic move aims to leverage Qing Cheng’s unique distribution network and partnerships to dominate the growing mobile game market in these regions, potentially enhancing The9’s market position and offering significant returns to stakeholders.
More about The9
The9 Limited is an Internet company listed on Nasdaq since 2004, primarily engaged in online games operation and Bitcoin mining business. It aims to become a global diversified high-tech Internet company.
YTD Price Performance: -0.53%
Average Trading Volume: 143,845
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $139M
See more data about NCTY stock on TipRanks’ Stock Analysis page.
