The9 (NCTY) said Friday its Shanghai The9 Information Technology unit has signed a joint venture deal with Chengdu Qing Cheng Network Science and Technology to distribute mobile games in China.
Under the terms, The9 will own 51% of the JV, while Qing Cheng will hold a 49% stake, the company said.
The9 said it granted about 110.2 million of its restricted shares, which will be unlocked in stages based on the JV's profit in 2025 and 2026.
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