The9 (NCTY) has released an update.
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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.
For further insights into NCTY stock, check out TipRanks’ Stock Analysis page.