Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
The9's Investee Nanyang Biologics (NYB) Advancing toward Nasdaq Listing after RFAI Cleared Vote at Shareholders Extraordinary General Meeting
Milestone Marks Further Progress
in The9's Strategic Investment in AI-Driven Drug Discovery; The9 Expects to Hold Approximately 15% to 16% of the Combined, Nasdaq-Listed
Company
HONG KONG, August 21, 2026 /PRNewswire/
-- The9 Limited (Nasdaq: NCTY) (“The9” or the “Company”), a global, diversified high-tech company, today announced
that Nanyang Biologics Pte. Ltd. (“NYB”), a Singapore-based, AI-driven drug discovery company in which The9 holds a strategic
equity stake, has taken a significant step toward its planned Nasdaq listing. At an extraordinary general meeting held on August 19,
2026, shareholders of RF Acquisition Corp II (“RFAI”) voted to approve NYB’s proposed business combination, marking
a key milestone in NYB’s effort to become a Nasdaq-listed company under the reserved ticker symbol “NYB.”
The9, which holds a stake in NYB through
its wholly owned subsidiary Gamenow.net (Hong Kong) Limited (“Gamenow”), previously announced the investment as part of the
Company’s strategy of selectively extending into promising AI-driven opportunities beyond its core gaming ecosystem, the9bit. Upon
completion of the business combination, which remains subject to customary closing conditions, The9 is expected to hold approximately
15% to 16% of the combined, Nasdaq-listed company.
NYB specializes in applying artificial
intelligence to the discovery of novel drug candidates from natural compounds. Its Vecura™ AI platform, built on a proprietary
library of more than one million natural compounds, is designed to identify promising bioactive candidates and mechanisms that conventional,
synthetic-first approaches often overlook.
“This vote is an encouraging step
forward for NYB and reflects strong shareholder confidence in its business,” said George Lai, Chief Executive Officer of The9.
“As a long-term investor in NYB, we are pleased to see this investment move closer to the public markets. We see this progress
as more than a milestone for NYB alone; it reinforces the value of our investment and widens the range of possibilities for us going
forward as we continue to build out The9's presence across the AI sector.”
About The9 Limited
The9 Limited (Nasdaq: NCTY) is a global,
diversified high-tech company redefining how games are created, played, and monetized. Founded in 1999 and Nasdaq-listed since 2004,
The9 brings over two decades of gaming heritage to its flagship platform the9bit, an AI-powered digital asset ecosystem built
around AI game creation and the $9BIT token economy, where every participant can play, create, earn, and own a stake in its growth. Beyond
the9bit, The9 continues to explore emerging opportunities across AI-empowered industries and the broader digital ecosystem, including
an equity stake in AI-driven drug discovery company NYB, building a multi-engine business positioned at the frontier of AI and the new
economy, reshaping how value is created and shared.
No Offer or Solicitation
This press release is for informational
purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any
vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Forward-Looking Statements
This release contains statements that
are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are
based on management's beliefs and expectations as well as on assumptions made by and data currently available to management, and they
appear in a number of places throughout this document and include statements regarding, among other things, results of operations, financial
condition, liquidity, prospects, growth, strategies and the industry in which we operate. The use of the words "will," "expects,"
"intends," "anticipates," "estimates," "predicts," "believes," "should,"
"potential," "may," "forecast," "objective," "plan," or "target," and other
similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future
performance and are subject to a number of risks and uncertainties that could cause actual results to differ materially. Such statements
include, but are not limited to, statements regarding our intentions, beliefs or current expectations concerning, among other things,
results of operations, financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance
and developments in the capital and credit markets, expected future financial performance, and the markets in which we operate. A number
of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not
limited to, the following: results of operations, financial condition, our stock price, our strategies, our future business development,
competition in the industry in which we operate, our ability to manage our costs and expenses, volatility in the market price of digital
assets, the limited liquidity of certain digital asset tokens, evolving and uncertain regulatory frameworks governing cryptocurrencies,
digital assets, and token-based economies, laws and regulations relating to the industry in which we operate, general economic and business
conditions, and assumptions underlying or related to any of the foregoing. For a discussion of these and other risks and uncertainties
that could cause actual results to differ materially from those expressed in any forward-looking statement, see The9's filings with the
U.S. Securities and Exchange Commission. The9 undertakes no obligation to update or revise forward-looking statements to reflect subsequent
events or circumstances, except as required by applicable law.
Investor Relations Contact
Ms. Jojo Su
Investor Relations Specialist
The9 Limited
Tel: +86 (21) 6108-6080
Email: IR@corp.the9.com
Ms. Helen Wu
Piacente Financial Communications
Tel: +86 (10) 6508-0677
Email: The9@thepiacentegroup.com
