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Stock impact report

The9 Limited Signs Joint Venture Agreement with Shenzhen EN-plus Technologies Co., Ltd.

The9 Limited - American Depository Shares (NCTY)  More Company Research Source: PR Newswire
US:NASDAQ Investor Relations: the9.com/en/stockinformation.html
PDF SHANGHAI, May 26, 2019 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that its wholly owned subsidiary Shanghai Jiuchang Investment Co., Ltd. has signed a joint venture agreement (the "JV agreement") with Shenzhen EN-plus Technologies Co., Ltd. ("EN+"), an electric vehicle charging equipment company incorporated in China, to establish a joint venture (the "JV") to engage in sales of new energy electric vehicle charging equipment, investment, construction and operation of charging stations, and provision of operational services for urban charging equipment and platforms for electric vehicles.According to the JV Agreement, The9 will make a cash investment of RMB50 million in the JV in consideration for which it will receive 80% equity interest in the JV, and EN+ will contribute its current and future proprietary electric vehicle charging technology to the JV in consideration for which it will receive a 20% equity interest of the JV [Read more]
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