Earnings ·
The9 Limited reported record quarterly net income of US$22.7 million for the three months ended March 31, 2026…
NCTYThe9 Ltd
The9 Limited reported record quarterly net income of US$22.7 million for the three months ended March 31, 2026, compared to a net loss of US$66.2 million in the same period in 2025. The turnaround was primarily driven by US$27.3 million in cryptocurrency rewards from receiving 1.425 billion 9BIT tokens under a cooperation agreement with the 9BIT Foundation. The company's AI-powered game creation platform, the9bit, surpassed 8 million registered users. Additionally, the Board approved a long-term incentive plan for senior management involving equity awards representing up to 12% of outstanding shares, contingent on achieving higher quarterly net income through the remainder of 2026. George Lai was appointed Chief Executive Officer, succeeding founder Jun Zhu, who will serve as Executive Chairman. The9 is a high-tech company operating in the digital asset and online gaming industries.