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The9 Joint Venture Partner Increased Committed Annual Revenue to RMB900 Million and Profit to RMB300 Million from RMB600 and RMB200M Respectively

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SHANGHAI, Dec. 6, 2024 /PRNewswire/ — The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, today announced that its wholly-owned subsidiary Shanghai The9 Information Technology Co., Ltd. signed an amendment agreement to joint venture agreement (hereinafter referred to as the “Agreement”) with its joint venture partner Zhejiang Huanyu Network Technology Co., Ltd. (hereinafter referred to as “Huanyu”), a Chinese game development and operation company. Huanyu originally committed that the Joint Venture will have game revenues of at least RMB600 million and a profit of RMB200 million in 2025. Based on the Agreement, Huanyu increased its commitment that the Joint Venture will have game revenues of at least RMB900 million (approximately US$124 million) and a profit of RMB300 million (approximately US$41 million) in 2025, and the committed growth of game revenues and profit by at least 30% annually in 2026 and 2027 remains the same.

The Joint Venture was established in September 2024. The9 holds a 51% stake and Huanyu holds a 49% stake of the Joint Venture. All after-tax profits of the Joint Venture will be distributed as dividends every quarter according to the shareholding ratio of the Joint Venture partners. It is one of The9’s consolidated subsidiaries to operate various games including MIR M. The Joint Venture had obtained an application receipt of the Internet Content Provider license and is expected to obtain the Internet Content Provider license soon. While The9 will still cooperate with other online game companies to operate MIR M, The9 granted the Joint Venture exclusive rights to publish, market and distribute MIR M through certain designated iOS and Android channels according to the Agreement.

The9 granted Huanyu 475,102,500 The9 restricted shares, equivalent to 1,583,675 ADSs. These restricted shares will be unlocked in stages according to Huanyu’s commitment to the Joint Venture’s 2025 business results.

“After signing the joint venture agreement with The9 in August, we have been working smoothly with The9 to set up the Joint Venture, applying for the ICP and most importantly, to prepare the launch of MIR M in 2025. In the past few months, we have been thrilled by the quality of MIR M. MIR M is an evolution game from all existing MIR games on the market. The Unreal Engine 4 helps MIR M to create and present top-level graphics. Other than MIR M, we will also cooperate with The9 to let our Joint Venture operate other games. We are more confident to the financial performance of our Joint Venture with The9 and that is the reason we entered into an amendment agreement to increase our revenue and profit guarantee,” said Liu Huan, CEO of Huanyu.

Safe Harbor Statement

This current report contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond The9’s control. The9 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about The9’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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: The9’s goal and strategies; The9’s expansion plans; The9’s future business development, financial condition and results of operations; The9’s expectations regarding demand for, and market acceptance of, its products and services; The9’s expectations regarding keeping and strengthening its relationships with business partners it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in The9’s filings with the SEC. All information provided in this announcement is as of the date hereof, and The9 does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

The9 Limited
17 Floor,
No. 130, Wu Song Road,
Hong Kou District,
Shanghai 200080, PRC

About The9 Limited

The9 Limited (The9) is an Internet company listed on Nasdaq in 2004. The9 is committed to become a global diversified high-tech Internet company, and is engaged in online games operation and Bitcoin mining businesses.

About Zhejiang Huanyu Network Technology Co., Ltd.

Zhejiang Huanyu Network Technology Co., Ltd. is a Chinese game development and operation company, mainly operating MIR and related games. The Group has more than 500 employees, more than 19 million game users, and more than 3.9 million paying users. The cumulative user payment amount exceeded RMB 1.9 billion.

 

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SOURCE The9 Limited

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Increff Selects Easyship’s Leading Multi-Carrier API To Help Retailers Navigate Global Shipping

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January 13, 2025

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NEW YORK, Jan. 12, 2025 /PRNewswire-PRWeb/ — Easyship, one of the world’s leading multi-carrier shipping platforms, today announced a new partnership with Increff, a merchandising software leader specializing in inventory and warehouse management.

“By integrating Easyship’s best-in-class shipping technology, we are empowering our clients to scale globally with confidence and access 550+ shipping services,” said Kanika Bhalla, CRO of Increff. “This partnership reflects our commitment to equipping retailers with the tools they need.”

This collaboration marks a significant milestone in Increff’s expansion from a domestic technology powerhouse into North America, Europe, and Asia. By leveraging Easyship’s powerful multi-carrier shipping API, Increff’s 700+ global eCommerce clients can now access seamless logistics solutions spanning 220+ destinations worldwide.

Revolutionizing Logistics & Inventory Management

The integration of Easyship’s advanced shipping technology into Increff’s omnichannel Warehouse Management System (WMS) and Ship from Store solutions empowers retailers to:

Save up to 91% off retail prices on shipping labels, significantly reducing operational shipping costs and boosting store profitability.Access to 550+ courier services worldwide, ensuring unparalleled flexibility and control across North America, Europe, and Asia.An advanced courier selection algorithm that optimizes shipments for cost, speed, and reliability, streamlining domestic and international deliveries.

Driving Global Growth for Retailers

“By integrating Easyship’s best-in-class shipping technology, we are empowering our clients to scale globally with confidence and access more than 550 shipping services,” said Kanika Bhalla, CRO of Increff. “This partnership reflects our commitment to equipping retailers with the tools they need to thrive in competitive markets. Together, we are unlocking new revenue streams for our clients while enhancing their operational efficiency and customer satisfaction.”

This strategic collaboration enables Increff to expand its global footprint while meeting the needs of retailers in competitive markets. It combines advanced inventory management, merchandising, and logistics into one seamless solution, ensuring an optimized and efficient experience for global retailers.

Enhanced Value Through Innovation

With Easyship as its preferred global shipping partner, Increff reinforces its mission to deliver intelligent solutions that improve operational efficiency and elevate the customer experience.

“Partnering with Increff enables us to combine our powerful multi-carrier shipping tools with cutting-edge inventory management, creating a seamless experience for retailers looking to expand globally,” said Tommaso Tamburnotti, Co-Founder of Easyship. “This partnership exemplifies the close synergy between effective inventory management and worldwide logistics technology, enabling retailers to grow faster while streamlining their operations.”

Start Saving On Shipping Costs

Retailers already using Increff’s WMS can now access Easyship’s global courier network, enabling faster delivery to locations like the United States and Canada while saving up to 91% on shipping and fulfillment costs. These benefits demonstrate how the partnership addresses critical challenges for retailers expanding their reach and improving their operational workflows.

NRF 2025 Partnership Launch

The program will officially launch at NRF 2025, with full integration and product availability expected later in the year. Retailers can visit the Increff booth at the annual National Retail Federation’s ‘Retail’s Big Show’ expo for live demonstrations of the new partnership’s capabilities.

About Increff

Increff is a leading retail technology company specializing in solving complex inventory management and supply chain challenges for retailers. With AI-powered merchandising and cloud-hosted omnichannel solutions, Increff helps brands optimize inventory, improve sales performance, and make data-driven decisions. The company’s solutions currently serve over 700 global brands across diverse retail categories, from fashion and electronics to consumer packaged goods.

For more information, visit: www.increff.com

About Easyship

Easyship is a global shipping platform that empowers businesses of all sizes to simplify fulfillment, save on shipping costs, and enhance customer delivery experiences. Trusted by tens of thousands of merchants worldwide, Easyship offers retailers access to a global network of over 550 courier services with discounted rates and advanced shipping and productivity tools to compare carriers, print labels, track shipments, and automate pick and pack processes.

For more information, visit: www.easyship.com

Media Contact

Tommaso Tamburnotti, Easyship, 44 44 7724256658, press@easyship.com, https://www.easyship.com/developers

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SOURCE Easyship

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Skyee Receives In-Principle Approval (IPA) for Major Payment Institution License (MPI) from the Monetary Authority of Singapore (MAS)

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January 13, 2025

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SINGAPORE, Jan. 13, 2025 /PRNewswire/ — Skyee Pte. Ltd. (“Skyee”) is excited to announce that it has been granted In-Principle Approval (IPA) for the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Skyee is a wholly owned subsidiary of Skyee Group a Chinese leading cross border payment solution provider in China, Europe, North America and North Asia. If obtained, the MPI license will allow Skyee to service its Singapore market, further enhancing the payment experience for cross-border sellers, streamlining payment processing, increasing efficiency, and reducing operational costs through Account Issuance, Domestic Money Transfer, Cross-border Money Transfer, Merchant Acquisition, and e-Money services.

Skyee Group, established in 2016, has consistently adhered to its mission of “linking the global financial network, building a new payment system, and providing all-around convenience for cross-border fund transfers.” Skyee’s receipt of the IPA from MAS underscores its strong reputation as a responsible digital financial technology company. By continuously optimizing its products and services, Skyee Group has secured strategic investment from Lakala Payment Group, China’s first A-share listed third-party payment company, and has become a member of its group.

Kozen Tan, CEO of Skyee Singapore has spearheaded and actively drive the acquisition of this license and stated, “Being granted this IPA from the Monetary Authority of Singapore is a big milestone for Skyee, especially as we expand our reach and payment services across geographical borders, solidifying our position in one of the most significant financial markets globally”.

This announcement follows Skyee Group track record and contributions to the emerging internet-based global financial system, further cementing its position as a trusted and well-regulated operator.

About Skyee: Based in Guangzhou, China, Skyee is a cross-border payment technology company with offices in Hangzhou, Shenzhen, Hong Kong, Singapore, Los Angeles, London, Tokyo, and Canada. Dedicated to providing innovative payment solutions for users with cross-border funding needs. Skyee offers safe and convenient global cross-border payment services for various sizes of overseas merchants through its self-developed payment platform. Skyee provides personalized solutions for more than twenty global payment scenarios to enhance payment efficiency and user experience, meeting diverse payment needs.

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SOURCE Skyee Pte. Ltd

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KT&G Establishes Uzbekistan Corporation Strengthening Eurasian Market Competitiveness

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January 13, 2025

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– Office to corporation conversion reinforces local operations heightening global competitiveness

SEOUL, South Korea, Jan. 13, 2025 /PRNewswire/ — KT&G (KRX : 033780) is establishing a corporation in Uzbekistan handing local operations for earnest market expansion and increased profitability, aiming to strengthen competitiveness in the Eurasian region.

In 2023, KT&G set up an office in Uzbekistan and entered the market with the superslim brand “ESSE”.

Through the corporation conversion of the Uzbekistan office, KT&G plans to reinforce long-term competitiveness in the Eurasian region. To increase market presence, KT&G will increase the size of the local workforce by four times, and continue to widen distribution coverage by establishing detailed operational networks.

KT&G also plans to grow “ESSE” as a major brand in the Uzbekistan market, anticipating revenue and profit growth from market expansion.

KT&G has established regional CIC’s (Company-In-Company) in Eurasia and the Asia-Pacific regions to facilitate global business expansion. KT&G currently is operating in 132 countries across the globe through six sales corporations and three branches. Going forward, KT&G will continue to expand its global corporations to support direct global operations and continue efforts to increase profitability.

A KT&G spokesperson said that “the establishment of the Uzbekistan corporation is part of the ongoing investment and innovation for the leap to a ‘Global Top-Tier.’ KT&G will continue its global growth trends by reinforcing local operations.”

 

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Logo – https://mma.prnewswire.com/media/2316472/5107935/KT_G_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/ktg-establishes-uzbekistan-corporation-strengthening-eurasian-market-competitiveness-302348712.html

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