08:21 AM EST, 02/21/2025 (MT Newswires) -- 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 ( NCTY ) will own 51% of the JV, while Qing Cheng will hold a 49% stake, the company said.

The9 ( NCTY ) 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.