NASDAQ · Finance

The9 LTD (NCTY)

The9 LTD reported revenue of $15.4M in fiscal 2025, up 0.8% from a year earlier. It posted a net loss of $57.5M. At December 31, 2025 it held $8.4M in cash. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on April 16, 2026.

Watch NCTY in 60 seconds

Price

$2.78

-1.42% on the day · November 10, 2026

52-week range $2.40 to $8.31

Market cap

$42.5M

Revenue (FY2025)

$15.4M

+0.8% year on year

Net margin

-373.0%

Key facts about The9 LTD

Net worth: The9 LTD has a market value (market cap) of $42.5M at the latest share price, and shareholders' equity of $27.3M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Revenue and profit: In fiscal 2025 revenue was $15.4M (+0.8% year on year), with a net loss of $57.5M.
Cash flow: In fiscal 2025 operations used $4.5M of cash.
Latest report: The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on April 16, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR

What The9 LTD does

The9 LTD is registered with the SEC under industry code SIC 6199 (Finance Services). Its shares trade on NASDAQ under the ticker NCTY.

Revenue and profit by year

Revenue

Net income

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal year	Revenue	Operating income	Net income	Diluted EPS	Free cash flow
2025	$15.4M	-$40.2M	-$57.5M	-$0.03	n/a
2024	$15.3M	-$8.1M	-$10.1M	-$0.01	n/a
2023	$174M	-$44.8M	$2.8M	n/a	n/a
2022	$17.2M	-$95.9M	-$141.3M	-$0.20	n/a
2021	$21.3M	-$48.3M	-$64.5M	-$0.13	n/a
2020	$95.9K	$51.6M	$61M	$0.37	n/a

Earnings: every quarter and the next report date

Full financial statements: income, balance sheet and cash flow

Where NCTY ranks in Finance

Revenue$15.4M

#441 of 541 in Finance · Bottom 19%

Revenue growth+0.8%

#381 of 480 in Finance · Bottom 21%

Net margin-373.0%

#473 of 484 in Finance · Bottom 2%

Latest fiscal year of every company in the sector with the figure reported. Revenue is ranked among companies reporting in US dollars; growth and margins among companies with at least 10 million of revenue. Finance

Latest SEC filings

What The9 LTD has filed recently, newest first. Each links to the original document on SEC EDGAR.

September 28, 2026
Foreign issuer update 6-K
August 24, 2026
Foreign issuer update 6-K
August 21, 2026
Foreign issuer update 6-K
August 6, 2026
Foreign issuer update 6-K
July 27, 2026
Foreign issuer update 6-K
July 20, 2026
Form F-3/A filing F-3/A
June 18, 2026
Form F-3/A filing F-3/A
June 2, 2026
Form F-3/A filing F-3/A
May 8, 2026
Form F-3/A filing F-3/A
April 16, 2026
Form F-3 filing F-3

Recent insider filings (Forms 3, 4 and 144): 10, the latest on August 3, 2026. Insider transactions on SEC

Insider trades

What the people running The9 LTD did with its shares, from the Form 4 filings they must send the SEC within two business days.

No insider trades were reported in the last 90 days.

Bought (open market)

last 90 days

Sold

last 90 days

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns NCTY

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

Holder	Of class	Shares	Filed
Jun Zhu13D, may seek influence with 1 related filers	38.4%	1,663,162,566	April 28, 2025

Largest institutional holders

No Form 13F positions imported for this company yet.

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

No insider reported holdings on a Form 4 in the last 12 months.

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about NCTY

What does The9 LTD do?

The9 LTD is a company in the Finance sector, listed on NASDAQ as NCTY. Its shares trade on NASDAQ under the ticker NCTY.

What is The9 LTD's net worth?

The9 LTD has a market value (market cap) of $42.5M at the latest share price, and shareholders' equity of $27.3M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.

Is The9 LTD profitable?

No. In fiscal 2025 it reported a net loss of $57.5M on revenue of $15.4M.

How much revenue does The9 LTD make?

In fiscal 2025 The9 LTD reported revenue of $15.4M. That is 0.8% more than a year earlier.

When did The9 LTD last report?

Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on April 16, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from September 28, 2026.

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Get an email when The9 LTD files with the SEC: results, executive changes, material agreements and annual reports.

Where the numbers come from

Financial figures are the values The9 LTD tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.