The9 Signed a Definitive Share Purchase Agreement to Invest in AI Unmanned Retail Store Platform KuaiJin

SHANGHAI, May 20, 2024 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed a definitive share purchase agreement (the "Agreement") with Kuaijin Shidai (Xiamen) Technology Co., Ltd. ("KuaiJin"), a company operating unmanned retail store platform in China, to purchase 15% of KuaiJin 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 KuaiJin. The purchase option is exercisable within 2 years and will be based on KuaiJin's valuation at US$60 million.

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