Key Developments: The9 Ltd (NCTYy.F)

NCTYy.F on Frankfurt Stock Exchange

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Latest Key Developments (Source: Significant Developments)

The9 Ltd announces sale of certain businesses
Friday, 29 Aug 2014 06:00am EDT 

The9 Ltd:Says Shanghai The9 Information Technology Co., Ltd., a wholly-owned consolidated variable interest entity of The9, closed a transaction with Shanghai Zhengwu Investment Center (Limited Partnership).For sale of its wholly-owned subsidiary Shanghai Huopu Cloud Computing Terminal Technology Co., Ltd.Consideration of 200 mln yuan in cash.  Full Article

The9 Ltd announces forming joint venture with Qihoo 360
Thursday, 31 Jul 2014 06:00am EDT 

The9 Ltd:Announced that The9 and Qihoo 360 Technology Co., Ltd. (Qihoo 360) had entered into an agreement.To form a joint venture.Pursuant to joint venture agreement, The9 and Qihoo 360 will each own 50 pct equity interest in JV and share profits according to this ratio.  Full Article

The9 Ltd announces signing of letter of intent for sale of certain businesses
Sunday, 23 Mar 2014 11:00pm EDT 

The9 Ltd:Signs non-binding letter of intent with a company with its principal business operations in China (the acquirer) to dispose of certain businesses.In particular, according to letter of intent, the acquirer plans to acquire Shanghai Huopu Cloud Computing Terminal Technology Co., Ltd., a wholly owned consolidated variable interest entity of The9, which mainly holds two web games including ReXue NBA for a total consideration of 200 mln yuan.Acquisition proceeds as planned, the acquirer will also be granted priority right to license game Firefall in China.According to letter of intent a definitive agreement is expected to be signed in April subject to, among other conditions, satisfactory completion of due diligence by the acquirer.There is no assurance that transaction will proceed as parties expect and press release will be issued in event that parties enter into any definitive agreement with respect to business disposal.  Full Article

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