The9 (NCTY) announced that its wholly-owned subsidiary Shanghai The9 Information Technology signed a Joint Venture agreement with Chengdu Qing Cheng Network Science and Technology. The9 will hold a 51% stake and Qing Cheng will hold a 49% stake in the Joint Venture. The Joint Venture will become The9’s flagship subsidiary to operate and distribute mobile games in the China’s sinking market.
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