- **The9 Limited's** Singapore investee company, **Nanyang Biologics Pte. Ltd. (NYB)**, announced a plan to go public on Nasdaq through a business combination with **RF Acquisition Corp II (RFAI)**, a special purpose acquisition company.  **[1296774_0001104659-25-095864_tm2527823d1_ex99-1.htm:0]** 
- The Proposed Transaction values NYB at approximately **$1.5 billion in pre-transaction equity value**.  **[1296774_0001104659-25-095864_tm2527823d1_ex99-1.htm:0]** 
- Existing NYB shareholders, including The9, will roll over **100% of their equity** and retain a majority of the combined company's outstanding shares.  **[1296774_0001104659-25-095864_tm2527823d1_ex99-1.htm:0]** 
- The closing of the transaction is expected in the **first or second quarter of 2026**, subject to shareholder approval and customary closing conditions.  **[1296774_0001104659-25-095864_tm2527823d1_ex99-1.htm:0]** 
- NYB, an AI-driven drug discovery company, has partnered with **Nvidia, Hewlett Packard Enterprise, and Equinix** to build the world's largest natural compound library for AI drug discovery.  **[1296774_0001104659-25-095864_tm2527823d1_ex99-1.htm:0]** **[1296774_0001104659-25-095864_tm2527823d1_ex99-1.htm:1]**

The9's Investee NYB Announces Plan to Go Public on Nasdaq

- **The9 Limited's** Singapore investee company, **Nanyang Biologics Pte. Ltd. (NYB)**, is set to become a publicly listed company on Nasdaq under the ticker symbol "NYB" through a business combination with **RF Acquisition Corp II (RFAI)**.  **[1296774_20251002CN88041:0]** 
- The Proposed Transaction values NYB at approximately **$1.5 billion in pre-transaction equity value**, with existing NYB shareholders, including The9, retaining a majority stake and board control.  **[1296774_20251002CN88041:0]** 
- NYB, an AI-driven drug discovery company, has partnered with **Nvidia, Hewlett Packard Enterprise, and Equinix** to build the world's largest natural compound library and scalable AI platforms for drug discovery.  **[1296774_20251002CN88041:0]** **[1296774_20251002CN88041:2]** 
- The closing of the business combination is expected in the **first or second quarter of 2026**.  **[1296774_20251002CN88041:0]**

The9's Investee NYB to Go Public via $1.5 Billion SPAC Merger

- The9 Limited's wholly-owned subsidiary has entered into a definitive agreement to acquire a **51% equity stake** in a joint venture (Shanghai ZhongXinShun Network Technology Co., Ltd.) from Shanghai ZhongShun HengXin Network Technology Co., Ltd..  **[1296774_0001104659-25-091396_tm2526541d1_ex99-1.htm:0]** 
- The joint venture will operate two proprietary mobile games: **Glory All Stars**, which has achieved **more than RMB2 billion cumulative gross revenue** with a stable **gross margin of approximately 40%**, and **Ultraman: Hero Beyond Time**, a new action RPG based on the Ultraman IP that has **over 2.5 million registered users** since its closed beta test.  **[1296774_0001104659-25-091396_tm2526541d1_ex99-1.htm:0]** 
- The consideration for the 51% equity includes **RMB69 million (approximately US$9.7 million) in cash** and **RMB46 million (approximately US$6.5 million) in The9 restricted shares**, with both payments contingent on the joint venture's actual profit achievements over the coming three years.  **[1296774_0001104659-25-091396_tm2526541d1_ex99-1.htm:0]**

The9 Announces Joint Venture Acquisition for Mobile Games

- The9 Limited's subsidiary, Shanghai The9 Information Technology Co., Ltd., acquired a **51% equity stake** in Shanghai ZhongXinShun Network Technology Co., Ltd., a new Joint Venture formed to operate proprietary mobile games.  **[1296774_20250919CN76877:0]** 
- The Joint Venture will operate **Glory All Stars**, an action RPG that has generated **over RMB2 billion cumulative gross revenue** with a stable gross margin of approximately **40%**, and **Ultraman: Hero Beyond Time**, a newly developed action RPG based on the Ultraman IP.  **[1296774_20250919CN76877:0]** 
- The consideration for the 51% equity includes **RMB69 million (approximately US$9.7 million) in cash** and **The9 restricted shares valued at RMB46 million (approximately US$6.5 million)**.  **[1296774_20250919CN76877:0]** 
- Both cash and restricted share payments are structured as installments, contingent upon the Joint Venture's profit achievements over the next three years.  **[1296774_20250919CN76877:0]** 
- All after-tax profits of the Joint Venture will be distributed quarterly as dividends according to the shareholding ratio.  **[1296774_20250919CN76877:0]**

The9 Acquires Majority Stake in Mobile Game Joint Venture

- The 9BIT Foundation has released the **$9BIT whitepaper**, detailing the token's utility, allocation, and role in powering a sustainable, community-driven ecosystem.  **[1296774_0001104659-25-089291_tm2525883d1_ex99-1.htm:0]** 
- The9 Limited (NCTY) will be distributed **19% of the $9BIT token supply** for its contribution to the $9BIT ecosystem.  **[1296774_0001104659-25-089291_tm2525883d1_ex99-1.htm:0]** 
- The **$9BIT tokens** are expected to be listed on at least one major crypto exchange (Bybit, KuCoin, Gate, Coinbase, or Bitget) before **December 31, 2025**.  **[1296774_0001104659-25-089291_tm2525883d1_ex99-1.htm:0]** 
- The9's Web3.5 gaming platform, the9bit, which will reward gamers with $9BIT tokens, has already surpassed **2 million users** in weeks.  **[1296774_0001104659-25-089291_tm2525883d1_ex99-1.htm:0]**

The9 Limited Announces $9BIT Whitepaper Release and Token Ownership

- The9 Limited (Nasdaq: NCTY) announced on **August 27, 2025**, that its GameFi platform, **the9bit**, has surpassed **1 million users** in less than one month since its launch.  **[1296774_20250827CN60034:0]** 
- the9bit is a next-generation gaming platform that allows players to earn flexible, token-convertible points by playing games, completing missions, watching ads, and engaging with content.  **[1296774_20250827CN60034:0]** 
- The platform aims to combine a simple Web2 user experience with a powerful Web3 engine, offering features like auto-generated wallets and local fiat support.  **[1296774_20250827CN60034:0]** 
- The9 Limited, listed on Nasdaq in **2004**, operates in online games and Bitcoin mining.  **[1296774_20250827CN60034:0]**

The9 (NCTY)