The9 Limited (NCTY) signed a legally binding term sheet with Zhejiang Fazhidao Information Technology Co. to purchase 19% shares of Fazhidao by cash and issuance of The9's restricted shares. The9 is also granted a purchase option to purchase up to 51% of the total shares of Fazhidao. The9 will pay cash consideration of $1 million and will issue restricted Class A ordinary shares to Fazhidao with the value of $14.2 million.
Fazhidao owns and operates 365LAWHELP.COM and mobile app FaBaoWang, an artificial intelligence Software as a service legal service platform in China. It has more than 120,000 cumulative paid subscribers.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.