The9 LTD (NCTY) CFO details ADS and large restricted share stakes

Rhea-AI Filing Summary

The9 LTD Chief Financial Officer Ji Wei reported initial beneficial ownership, including 81,543 American Depositary Shares, each representing 300 Class A Ordinary Shares, and 8,333,533 Class A Ordinary Shares from vested restricted stock. Ji Wei also holds substantial unvested restricted Class A Ordinary Shares with detailed time‑based and price‑based vesting schedules from grants in 2023 and 2025.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Ji Wei

Role Chief Financial Officer

Type	Security	Shares	Price	Value
holding	American Depositary Shares F1	--	--	--
holding	Class A Ordinary Shares F2	--	--	--
holding	Class A Ordinary Shares (Restricted) F3	--	--	--
holding	Class A Ordinary Shares (Restricted) F4	--	--	--

Holdings After Transaction: American Depositary Shares — 81,543 shares (Direct); Class A Ordinary Shares — 8,333,533 shares (Direct); Class A Ordinary Shares (Restricted) — 33,166,667 shares (Direct)

Footnotes (4)

1. F1. Each American Depositary Share represents 300 Class A Ordinary Shares.
2. F2. These Class A Ordinary Shares represent the vested Restricted Shares held by the reporting person in the form of Class A Ordinary Shares without transfer restrictions. These Class A Ordinary Shares were granted on March 10, 2025 in the form of Restricted Shares.
3. F3. These Class A Ordinary Shares represent the unvested Restricted Shares held in the form of Class A Ordinary Shares by the reporting person. Among these Class A Ordinary Shares, 16,666,667 were granted on March 10, 2025 in the form of Restricted Shares and would vest each month in 1/36th of the total granted amount; 1,500,000 were granted on September 18, 2025 in the form of Restricted Shares, among which 50% would vest on the first anniversary of the grant, and another 50% will vest on the second anniversary of the grant.
4. F4. These Class A Ordinary Shares represent the unvested Restricted Shares held in the form of Class A Ordinary Shares by the reporting person. These Class A Ordinary Shares were granted on September 7, 2023, and would vest and be released from lock-up each month in 1/12th of the total amount during the third year, only if the closing trading price of the Issuer's American Depositary Shares reaches US$20 or higher on any trading day after the date of the grant.

Key Figures

American Depositary Shares held: 81,543 American Depositary Shares ADS to Class A share ratio: 300 Class A Ordinary Shares per ADS Vested Class A Ordinary Shares: 8,333,533 Class A Ordinary Shares +3 more

6 metrics

American Depositary Shares held 81,543 American Depositary Shares Directly held by Ji Wei following the reported holdings

ADS to Class A share ratio 300 Class A Ordinary Shares per ADS Each American Depositary Share represents 300 Class A Ordinary Shares

Vested Class A Ordinary Shares 8,333,533 Class A Ordinary Shares Vested Restricted Shares now held without transfer restrictions

Unvested grant March 10, 2025 16,666,667 Class A Ordinary Shares Restricted Shares vesting monthly in 1/36th of the total amount

Unvested grant September 18, 2025 1,500,000 Class A Ordinary Shares Restricted Shares vesting 50% on first and 50% on second anniversary

ADS price condition US$20 Price trigger for vesting of September 7, 2023 restricted share grant

Key Terms

American Depositary Shares, Restricted Shares, Class A Ordinary Shares, lock-up

4 terms

American Depositary Shares financial

"Each American Depositary Share represents 300 Class A Ordinary Shares."

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

Restricted Shares financial

"These Class A Ordinary Shares represent the vested Restricted Shares held"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

Class A Ordinary Shares financial

"Each American Depositary Share represents 300 Class A Ordinary Shares."

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

lock-up financial

"would vest and be released from lock-up each month in 1/12th"

A lock-up is an agreement that prevents company insiders, early investors or employees from selling their shares for a set period after a public share offering. It matters to investors because it temporarily limits the number of shares available to trade—like a scheduled hold on extra inventory—and when that hold ends a large number of shares can enter the market, potentially putting downward pressure on the stock price and revealing insiders’ confidence in the company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What insider holdings did The9 LTD (NCTY) CFO Ji Wei report on Form 3?

Ji Wei reported 81,543 American Depositary Shares and 8,333,533 Class A Ordinary Shares from vested restricted stock, plus significant unvested restricted Class A Ordinary Shares from grants in 2023 and 2025 with specified time‑based and price‑based vesting conditions.

How many American Depositary Shares of NCTY does CFO Ji Wei hold?

Ji Wei directly holds 81,543 American Depositary Shares. Each ADS represents 300 Class A Ordinary Shares, providing exposure to the company’s Class A equity through the ADS structure rather than holding all underlying ordinary shares directly.

What vested Class A Ordinary Shares of The9 LTD (NCTY) does Ji Wei own?

Ji Wei beneficially owns 8,333,533 Class A Ordinary Shares that represent vested Restricted Shares. These were granted on March 10, 2025 as Restricted Shares and are now held without transfer restrictions as ordinary shares.

What are the main unvested restricted share grants reported by NCTY CFO Ji Wei?

Unvested holdings include 16,666,667 Class A Ordinary Shares from a March 10, 2025 grant vesting monthly over 36 months and 1,500,000 Class A Ordinary Shares from a September 18, 2025 grant vesting 50% on each of the first and second anniversaries.

Does The9 LTD (NCTY) CFO Ji Wei have performance‑linked restricted shares?

Yes. A September 7, 2023 restricted share grant vests monthly in 1/12th increments during the third year, only if the closing trading price of The9’s ADS reaches US$20 or higher on any trading day after the grant date.

What does each NCTY American Depositary Share represent for Ji Wei’s holdings?

Each American Depositary Share in Ji Wei’s reported holdings represents 300 Class A Ordinary Shares. This means the ADS position reflects an indirect interest in a larger number of underlying Class A Ordinary Shares through the depositary share structure.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Ji Wei

(Last) (First) (Middle)

158 LANE, 2 BULDING, 1201,

DA MU QIAO ROAD, XUHUI DISTRICT

(Street)

SHANGHAI 200030

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
07/27/2026

3. Issuer Name and Ticker or Trading Symbol
The9 LTD [ NCTY ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
American Depositary Shares(1)	81,543	D
Class A Ordinary Shares	8,333,533(2)	D
Class A Ordinary Shares (Restricted)	31,666,667(3)	D
Class A Ordinary Shares (Restricted)	1,500,000(4)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each American Depositary Share represents 300 Class A Ordinary Shares.

2. These Class A Ordinary Shares represent the vested Restricted Shares held by the reporting person in the form of Class A Ordinary Shares without transfer restrictions. These Class A Ordinary Shares were granted on March 10, 2025 in the form of Restricted Shares.

3. These Class A Ordinary Shares represent the unvested Restricted Shares held in the form of Class A Ordinary Shares by the reporting person. Among these Class A Ordinary Shares, 16,666,667 were granted on March 10, 2025 in the form of Restricted Shares and would vest each month in 1/36th of the total granted amount; 1,500,000 were granted on September 18, 2025 in the form of Restricted Shares, among which 50% would vest on the first anniversary of the grant, and another 50% will vest on the second anniversary of the grant.

4. These Class A Ordinary Shares represent the unvested Restricted Shares held in the form of Class A Ordinary Shares by the reporting person. These Class A Ordinary Shares were granted on September 7, 2023, and would vest and be released from lock-up each month in 1/12th of the total amount during the third year, only if the closing trading price of the Issuer's American Depositary Shares reaches US$20 or higher on any trading day after the date of the grant.

	/s/ Ji Wei	08/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)