Ninth City (NCTY.US) rises over 4% as its wholly-owned subsidiary expands cooperation with Huanyu Network
Friday, Dec 6, 2024 10:20 am ET
1min read Nine City Digital (NCTY.US) rose over 4% to $16.854 on Friday. On the news front, Ninth City announced that its wholly-owned subsidiary Shanghai The9 Information Technology Co., Ltd. and its joint venture partner Zhejiang Huanyu Network Technology Co., Ltd. signed an amended agreement on the joint venture. Huanyu initially committed that the joint venture's game revenue in 2025 would be at least RMB600mn and profit would be RMB200mn. According to the agreement, Huanyu increased its commitment that the joint venture's game revenue in 2025 would be at least RMB900mn (~$124mn), profit would be RMB300mn (~$41mn), and the commitment of the annual growth rate of at least 30% for game revenue and profit in 2026 and 2027 remains unchanged.
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