The9 (NCTY) has released an update.
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The9 Limited, an established Internet company, has entered a definitive agreement to acquire a 19% stake in Weixiang, an AI-powered educational technology firm in China, with an option to increase its shareholding to 51%. The deal includes cash and restricted share payments, with additional shares to be released upon reaching certain market capitalization milestones or Weixiang’s IPO. Weixiang’s technology focuses on enhancing educational content and engagement through AI-driven content creation, live streaming, and smart customer service.
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