05:26 AM EDT, 10/09/2024 (MT Newswires) -- 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 ( NCTY ) will own a 51% stake in the joint venture and its partner will own the remaining 49% stake. The9 ( NCTY ) 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 ( NCTY ) upcoming new game and is estimated to have more than 100 million renminbi in 2025 profit, the company said.

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