The9 Limited reported second-quarter net income of $32 million, up more than 39% from the prior quarter, driven largely by fair-value gains on 9BIT tokens. The company said first-half net income reached $55 million, its strongest half-year result since its 2004 initial public offering. The9 is making The9bit its strategic focus, an AI-powered game creation platform with more than 8 million registered users and over 110,000 games, and expects to launch mid-core games with in-game purchases within one to two months. The company has signed 41 brand partners and is pursuing a separate investment in AI drug-discovery company NYB, which could represent 15% to 16% of the combined company if the proposed SPAC transaction receives Nasdaq approval.
The9 Ltd ADRThe9 is pursuing an investment in NYB, but the impact on Nanyang Biologics is unclear as it depends on the SPAC transaction approval.
