The9 Ltd Stock Price, News & Analysis

The9 Limited (Nasdaq: NCTY) held its annual general meeting in Shanghai on December 19, 2022, where shareholders approved the re-election of Mr. Jun Zhu as a Class III Director. He will serve a three-year term until the 2025 Annual General Meeting. The9 Limited is a Chinese Internet company listed on Nasdaq since 2004, focusing on becoming a diversified high-tech Internet firm.

The9 Limited (Nasdaq: NCTY) announced its annual general meeting (AGM) will take place on December 19, 2022, at 2:00 p.m. Shanghai time, at its office in Shanghai. The record date for shareholders to vote is November 18, 2022. Shareholders and American Depositary Shares (ADS) holders are encouraged to support the proposed resolution detailed in the AGM notice. The notice and proxy forms are available on the company's website. The9, a Nasdaq listed company since 2004, focuses on blockchain activities including cryptocurrency mining and NFT platforms.

NFTSTAR has announced its partnership with The Sandbox to create a Global Sports Village in the metaverse featuring stars like Neymar JR., Son Heung-Min, and Luis Figo. This initiative aims to engage sports fans through virtual experiences, exclusive NFT drops, and a virtual sports arena. The collaboration aims to foster a community focused on sports and gaming. NFTSTAR is backed by The9 Limited (Nasdaq: NCTY) and aspires to build a significant sports fandom platform integrating Web3 technology.

The9 Limited (Nasdaq: NCTY) announced its collaboration with Neymar Jr. for an NFT drop under the NFTSTAR platform, initiating on November 11. The event includes a livestream featuring Neymar Jr. at 3PM UTC, where he will introduce the new NFT series titled 'Beastmode Metaverse x Neymar Jr.: Episode 01 - HUMAN'. Previous releases, like 'JungleVIBES', achieved over 60,000 freemints. This event is expected to enhance NFTSTAR's visibility and engagement in the NFT market.

The9 Limited (Nasdaq: NCTY) announced that its subsidiary NFTSTAR Singapore Pte. will host a product launch conference on October 15, 2022. The event will introduce four new products, including an NFT collection featuring Neymar Júnior, a Web3 metaverse platform called Playmaker, a blockchain soccer game named Metagoal, and a sports prediction game titled Wonder Win. These products are essential to establishing the NFTSTAR metaverse ecosystem, which aims to unite users through sports and entertainment.

The9 Limited (NASDAQ: NCTY) has announced a cancellation agreement with JPKONG LTD. and Qifeng Sun Ltd. to negate Tranche IV Warrants, which allowed the purchase of a total of 34,648,640 Class A ordinary shares at $0.2667 each. This cancellation does not impact other warrants from the January 2021 agreement. Additionally, The9 has strategically invested $3 million in the IPO of Nano Labs Ltd (NASDAQ: NA), acquiring 260,642 American depositary shares. This move aligns with The9's goal to diversify as a high-tech Internet company.

The9 Limited (Nasdaq: NCTY) has signed a Purchase Agreement with SolarCoin LLC for a blockchain computing center in Kyrgyzstan. This deal grants The9 access to 31.5MW of electricity capacity to support 7,500 Antminer S19J Bitcoin mining machines, which will contribute approximately 675PH/s hash power. Construction is expected to be completed by the end of July 2022, with an anticipated electricity cost of $0.05/kWh. The acquisition includes ownership of transformers, supporting equipment, and land usage rights.