The9 (NCTY) said Wednesday its Shanghai The9 Information Technology unit signed a joint venture agreement with ShaoXing TongZe Network Technology to operate an artificial intelligence algorithms and big data marketing business.
Under the agreement, The9 will own a 51% stake in the joint venture and its partner will own the remaining 49% stake. The9 will also issue 42.5 million Chinese renminbi ($6 million) in restricted shares to TongZe.
The joint venture is expected to provide marketing services to The9's upcoming new game and is estimated to have more than 100 million renminbi in 2025 profit, the company said.
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