- **Total net revenues** for the first half of 2025 increased by **6.5%** to **RMB152.1 million (US$21.2 million)**, primarily due to an adjustment to the product offering structure.  **[1619544_0001213900-25-096123_ea0258754-6k_9finc.htm:1]** 
- **Net income** significantly rose to **RMB218.5 million (US$30.5 million)** in the first half of 2025, compared to RMB12.5 million in the first half of 2024, mainly driven by **unrealized gains from investments** in listed stocks and ETFs and a decrease in operating expenses.  **[1619544_0001213900-25-096123_ea0258754-6k_9finc.htm:1]** 
- **Adjusted net income** also saw a substantial increase to **RMB105.1 million (US$14.7 million)** in the first half of 2025, up from RMB6.4 million in the first half of 2024.  **[1619544_0001213900-25-096123_ea0258754-6k_9finc.htm:1]** 
- The company is navigating a **regulatory transition** that is expected to reduce technology-based businesses, enhance operational efficiency, reduce costs, and necessitate the pursuit of new business opportunities.  **[1619544_0001213900-25-096123_ea0258754-6k_9finc.htm:1]** 
- As of June 30, 2025, **cash and cash equivalents and term deposits** decreased by **30.9%** to **RMB443.6 million (US$61.9 million)** due to the purchase of marketable securities, while **restricted cash** increased by **73.8%** to **RMB459.4 million (US$64.1 million)**, partly due to cash subject to temporary judicial freeze.  **[1619544_0001213900-25-096123_ea0258754-6k_9finc.htm:1]**

9F (JFU)