TSLA
Tesla
-- 437.725 MU
Micron Technology
-- 87.660 NVDA
NVIDIA
-- 133.460 QUBT
Quantum Computing
-- 17.900 NUKK
Nukkleus
-- 55.900 
NEWS
The9 Establishes Another Joint Venture to Operate AI Mobile Advertising Business
Monday, 16th December at 7:00 am
Joint Venture Partner Committed Annual Profit of RMB20 Million and 50% Annual Growth
SHANGHAI, Dec. 16, 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 a Joint Venture agreement (hereinafter referred to as the "Agreement") with Shenzhen JiTuo Interactive Technology Co., Ltd. (hereinafter referred to as "JiTuo"), an AI algorithms mobile advertising company in China. JiTuo is a game development partner with AppLovin Corporation (NASDAQ: APP) in China. It is also an agency partner for Apple Search Ads in China.
The9 will hold a 51% stake and JiTuo will hold a 49% stake in the Joint Venture. The Joint Venture will become one of The9's consolidated subsidiaries to operate AI algorithms mobile advertising business, and is expected to provide marketing solution to The9's upcoming new games including MIR M.
Pursuant to the Agreement, JiTuo committed that it will utilize its advertising AI model and data algorithm system to assist The9's upcoming new games in optimizing advertising placement materials to enhance the conversion rate and accuracy of advertisements; optimizing the display effect and keywords in the app store to increase the conversion rate of app downloads and acquiring natural traffic. It also committed to The9 that the Joint Venture will have an annual profit of more than RMB20 million (approximately US$2.8 million) in 2025, with profit increasing by at least 50% annually in 2026 and 2027. 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.
Monday, 16th December at 7:00 am
Joint Venture Partner Committed Annual Profit of RMB20 Million and 50% Annual Growth
SHANGHAI, Dec. 16, 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 a Joint Venture agreement (hereinafter referred to as the "Agreement") with Shenzhen JiTuo Interactive Technology Co., Ltd. (hereinafter referred to as "JiTuo"), an AI algorithms mobile advertising company in China. JiTuo is a game development partner with AppLovin Corporation (NASDAQ: APP) in China. It is also an agency partner for Apple Search Ads in China.
The9 will hold a 51% stake and JiTuo will hold a 49% stake in the Joint Venture. The Joint Venture will become one of The9's consolidated subsidiaries to operate AI algorithms mobile advertising business, and is expected to provide marketing solution to The9's upcoming new games including MIR M.
Pursuant to the Agreement, JiTuo committed that it will utilize its advertising AI model and data algorithm system to assist The9's upcoming new games in optimizing advertising placement materials to enhance the conversion rate and accuracy of advertisements; optimizing the display effect and keywords in the app store to increase the conversion rate of app downloads and acquiring natural traffic. It also committed to The9 that the Joint Venture will have an annual profit of more than RMB20 million (approximately US$2.8 million) in 2025, with profit increasing by at least 50% annually in 2026 and 2027. 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.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment