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The9 Ltd (NCTY)

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SEC name The9 LTD · CIK 0001296774 · Nasdaq · Finance Services

  • Sector Finance & Real Estate
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, The9 Ltd reported revenue of 107.90M CNY. Revenue fell 3.4% from the prior annual period.

Key ratios (year ended 2025-12-31)

1.7%
Gross margin
-260.5%
Operating margin
-379.0%
Net margin
-240.8%
Return on year-end equity
-3.4%
Revenue growth (YoY)

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Latest selected filing: Form 6-K (current report) · 2026-09-28

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

Period ended2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue107.90M CNY111.71M CNY174.04M CNY104.93M CNY135.58M CNY625.5K CNY341.5K CNY17.49M CNY73.21M CNY56.29M CNY
Cost of Revenue106.09M CNY113.32M CNY213.18M CNY152.31M CNY87.80M CNY814.1K CNY1.34M CNY16.44M CNY23.78M CNY48.52M CNY
Gross Profit1.81M CNY-1.60M CNY-39.13M CNY-47.38M CNY47.78M CNY-188.6K CNY-1.00M CNY996.3K CNY49.37M CNY7.68M CNY
R&D Expense9.80M CNY856.0K CNY1.97M CNY2.43M CNY1.92M CNY2.44M CNY13.09M CNY24.56M CNY45.11M CNY77.99M CNY
Operating Income-281.11M CNY-58.76M CNY-317.75M CNY-661.53M CNY-307.66M CNY336.71M CNY-163.72M CNY-104.77M CNY-113.31M CNY-295.61M CNY
Depreciation & Amortizationn/an/a86.87M CNY91.38M CNY47.44M CNYn/an/a3.65M CNY5.30M CNY7.32M CNY
EBITDAn/an/a-230.89M CNY-570.15M CNY-260.23M CNYn/an/a-101.12M CNY-108.01M CNY-288.29M CNY
Net Income-408.92M CNY-73.64M CNY12.58M CNY-979.49M CNY-416.83M CNY393.43M CNY-196.17M CNY-239.28M CNY-112.09M CNY-667.09M CNY
EPS (Diluted)-0.18 CNY-0.05 CNY0.02 CNY-1.36 CNY-0.83 CNY2.42 CNY-1.79 CNYn/an/an/a
Total Assets593.75M CNY636.64M CNY363.73M CNY599.11M CNY1.31B CNY48.44M CNY181.46M CNY164.69M CNY323.11M CNY350.89M CNY
Total Liabilities351.21M CNY209.13M CNY182.39M CNY571.57M CNY546.86M CNY366.84M CNY1.06B CNY908.42M CNY819.45M CNY806.18M CNY
Shareholders' Equity169.84M CNY324.87M CNY181.34M CNY27.54M CNY763.46M CNY-667.44M CNY-1.23B CNY-1.08B CNY-802.35M CNY-702.05M CNY
Cash & Equivalents58.49M CNY10.91M CNY45.22M CNY58.06M CNY428.42M CNY31.70M CNY10.11M CNY4.26M CNY142.62M CNY38.88M CNY
Operating Cash Flow-31.76M CNY-44.20M CNY-46.32M CNY-154.04M CNY-704.29M CNY-106.25M CNY-54.18M CNY-101.20M CNY-86.65M CNY-179.77M CNY
Shares Outstandingn/an/an/an/an/an/an/a91.32M44.54M23.92M
Weighted Average Diluted Shares2.27B1.40B1.01B720.24M495.30M163.60M106.41Mn/an/an/a
EPS (Basic)-0.18 CNY-0.05 CNY0.02 CNY-1.36 CNY-0.83 CNY2.42 CNY-1.79 CNYn/an/an/a

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