Friday, Chinese online game operator The9 Limited (NCTY) said its Board approved a buyback of up to US$50 million of its American Depositary Shares, each of which represents one share of The9's ordinary shares.
The company will buy the shares in the open market and expects to fund the purchases from existing cash reserves.
Jun Zhu, Chairman and Chief Executive Officer of The9 said, "We think that the current shares price level does not reflect our company's fair value and potential. We believe this share repurchase program is a good investment opportunity at the prevailing price level,''
The9's business develops games for the Chinese online game market. The9 directly or through affiliates operates licensed MMORPGs, consisting of MU, Blizzard Entertainment's World of Warcraft, Soul of The Ultimate Nation Granado Espada, and its first proprietary MMORPG, Joyful Journey West, in mainland China. In addition, The9 is also developing various proprietary games, including Warriors of Fate Online and others.
NCTY closed Thursday's regular trading session at $16.59.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.