Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIE ...

SINGAPORE, March 31, 2025 /PRNewswire/ -- The9 Limited (NASDAQ: NCTY) (hereinafter referred to as "The9"), an established Internet company, announced today that it has signed private placement agreements with industry-leading cryptocurrency investment funds Elune Capital, Fine Vision Fund and Bripheno Pte. Ltd. (hereinafter collectively referred to as "the Investors"). Pursuant to the agreement, the Investors will invest US$8 million in The9. The9 will issue Class A common shares to the Investors with share ...

Joint Venture Partner Committed Annual Profit of RMB80 Million and 50% Annual Growth SHANGHAI, Feb. 21, 2025 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that its wholly-owned subsidiary Shanghai The9 Information Technology Co., Ltd. signed a Joint Venture agreement (hereinafter referred to as the "Agreement") with Chengdu Qing Cheng Network Science and Technology Co., Ltd. (hereinafter referred to as "Qing Cheng"), a leading mobile game operation an ...

Core Viewpoint - The9 Limited has entered into a Joint Venture with JiTuo, focusing on AI algorithms for mobile advertising, with projected annual profits exceeding RMB20 million and a commitment to 50% annual growth in the following years [1][3][5]. Group 1: Joint Venture Details - The9 will hold a 51% stake in the Joint Venture, while JiTuo will hold 49%, making it a consolidated subsidiary of The9 [2]. - JiTuo has committed to utilizing its AI model and data algorithm system to enhance advertising effectiveness for The9's upcoming games, including MIR M [3]. - The Joint Venture is expected to generate over RMB20 million (approximately US$2.8 million) in profit in 2025, with a minimum annual growth of 50% in 2026 and 2027 [3]. Group 2: Share Distribution and Performance Metrics - The9 will grant JiTuo 28,110,000 restricted shares, which will be unlocked based on the achievement of profit targets for 2025 and subsequent years [4]. - If the profit guarantee for 2025 is met, additional restricted shares will be granted, with further shares contingent on meeting 2026 profit targets [4]. Group 3: Strategic Importance - The establishment of this Joint Venture is part of The9's strategy to enhance its marketing capabilities for new games and improve financial results through consolidation of these ventures [5]. - JiTuo's expertise in AI algorithms and app store optimization is expected to significantly contribute to the success of The9's mobile advertising efforts [6][7].

On Wednesday, shares of The9 Limited (NCTY, Financial) opened over 6% higher and extended their gains to 7.36%, trading at $7.88. The rise in stock price follows the announcement of a joint venture agreement.The9 Limited’s subsidiary, Shanghai The9 Information Technology, signed an agreement with ShaoXing TongZe Network Technology. The partnership aims to develop and operate artificial intelligence algorithms and big data marketing businesses, which are expected to drive growth and innovation for the compan ...

Core Viewpoint - The9 Limited has entered into a definitive share purchase agreement to acquire 19% of Wuhan Weixiang Science And Technology Co., Ltd., an AI-powered educational technology company, with an option to purchase up to 51% based on a valuation of 7 times Weixiang's audited annual profit after tax, provided the valuation exceeds US$45 million [1][3]. Group 1: The9 Limited's Investment - The9 will pay US$1.5 million in cash and issue 284,465,400 restricted Class A ordinary shares to Weixiang, equivalent to 948,218 ADSs [3]. - The release of restricted shares is contingent upon The9's market capitalization reaching specific thresholds: US$200 million, US$500 million, and US$1 billion, with corresponding shares released at each level [3]. Group 2: Weixiang's Business Model - Weixiang, founded by Mr. Xu Wang, focuses on creating a localized online school ecosystem using short videos and live streaming, leveraging platforms like TikTok and WeChat [2]. - The company has over 9 million followers and has achieved significant engagement, with its most popular teacher attracting over 300,000 simultaneous viewers in a single live stream [2]. - Weixiang employs AI technologies for content creation, live streaming, and personalized learning, enhancing productivity and reducing operational costs [2]. Group 3: Future Plans and Vision - Weixiang aims to extend high-quality education to underserved markets, particularly in remote areas, by supporting grassroots teachers through training and content creation [4]. - The company plans to develop advanced data analysis tools to optimize educational strategies and improve lesson quality [4].

SHANGHAI, May 24, 2024 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) (the "Company"), an established Internet company, today announced that it agreed and signed a private placement agreement (the "Agreement") with Fine Vision Fund, established by Finewill Capital, an internationally renowned investment institution. The fund is dedicated to investing in global game projects and supporting the future of the game industry. Pursuant to the Agreement, Fine Vision Fund will invest US$3.5 million to the Company, wit ...

SHANGHAI, May 24, 2024 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) (the "Company"), an established Internet company, today announced that its wholly-owned subsidiary China Crown Technology Limited ("China Crown"), a company incorporated in Hong Kong, entered into an exclusive publishing license agreement (the "License Agreement") with Wemade Co., Ltd. ("Wemade"). Pursuant to the License Agreement, China Crown will exclusively publish and service the new MIR M game in mainland China, in both Mobile and PC ve ...

SHANGHAI, May 20, 2024 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed a definitive share purchase agreement (the "Agreement") with Kuaijin Shidai (Xiamen) Technology Co., Ltd. ("KuaiJin"), a company operating unmanned retail store platform in China, to purchase 15% of KuaiJin by cash and issuance of The9's restricted shares. The9 is also granted a purchase option to purchase up to 51% of the total shares of KuaiJin. The purchase option i ...

Core Viewpoint - The9 Limited reported significant growth in its financial performance for 2023, highlighting a shift from a net loss in 2022 to a net income in 2023, driven by its cryptocurrency mining business and expansion into AI applications [2][3]. Financial Highlights - Net revenues increased by 66% year-over-year, rising from RMB108 million in 2022 to RMB179 million (US$25 million) in 2023 [2]. - The company achieved a net income of RMB13 million (US$2 million) in 2023, a substantial recovery from a net loss of RMB975 million in 2022 [2]. Management Comments - The Chairman and CEO, Jun Zhu, emphasized the growth in the cryptocurrency mining sector and the company's commitment to seeking environmentally friendly energy solutions [3]. - The9 is actively participating in Web3 games and exploring AI applications across various industries, recognizing the transformative impact of GenAI [3]. - As of the report date, The9 has a total of 1,675,281,127 issued and outstanding shares, comprising 1,661,673,793 Class A ordinary shares and 13,607,334 Class B ordinary shares [3]. Company Overview - The9 Limited is a Nasdaq-listed Internet company established in 2004, focusing on becoming a diversified high-tech Internet company engaged in blockchain and cryptocurrency mining [5]. - The company is also venturing into AI applications across different sectors [5].