NASDAQ, NCTY - The9 Ltd ADR
We were incorporated in the Cayman Islands in December 1999 under the name
GameNow.net Limited and were renamed to The9 Limited in February 2004. We formed
GameNow.net (Hong Kong) Limited, or GameNow, on January 17, 2000, as a
wholly-owned subsidiary. We have historically conducted our operations in large
part through The9 China, a direct wholly-owned subsidiary of GameNow in China.
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In October 2002, we and Webzen formed 9Webzen to launch and operate the MU game
in China. 9Webzen established 9Webzen Shanghai as its wholly-owned subsidiary in
China on January 29, 2003 to operate MU in China. Prior to December 2005, we
held a 51% ownership interest in 9Webzen. In December 2005, we sold and
transferred 21% of 9Webzen?s issued share capital to Webzen, thus reducing our
ownership interest in 9Webzen from 51% to 30%. ...
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