The9 Enters Joint Venture for Mobile Game Development with Ultraman IP
On September 19, 2025, The9 Limited, a prominent internet company listed on the Nasdaq under the symbol NCTY, announced a noteworthy partnership that is set to reshape its gaming operations. Through its wholly-owned subsidiary, Shanghai The9 Information Technology Co., Ltd., The9 has entered into a definitive agreement with Shanghai ZhongShun HengXin Network Technology Co., Ltd. This new collaboration involves The9 acquiring a 51% share in ZhongShun's fully owned subsidiary, Shanghai ZhongXinShun Network Technology Co., Ltd., signaling a strategic move to expand its footprint in the mobile gaming arena.
The centerpiece of this joint venture is the integration of two prominent mobile games: "Glory All Stars" and the newly developed "Ultraman: Hero Beyond Time." Notably, "Glory All Stars" has already established itself in the market, with reported cumulative revenues exceeding RMB 2 billion since its launch, maintaining a robust gross margin of around 40%. This successful title lays a solid foundation for the introduction of the Ultraman game, which is designed not only to entertain but to leverage the immense global appeal of the Ultraman franchise.
Hailed as an action RPG, "Ultraman: Hero Beyond Time" is being positioned as an upgraded version of "Glory All Stars." This title aims to capture the attention of existing Ultraman fans while attracting new players, thanks to its proven gameplay mechanics and the iconic character's extensive appeal. Given the strategic emphasis on data-driven design, the game is expected to outperform its predecessor within a short span, potentially capturing an even larger share of the gaming market.
The financial structure of this joint venture is equally promising, with after-tax profits to be distributed quarterly based on ownership percentages. The acquisition cost for the 51% stake totals RMB 69 million (approximately $9.7 million) along with restricted shares valued at RMB 46 million (around $6.5 million). Notably, these payments are structured as installments contingent upon the achievement of specific profit targets set by ZhongShun over the next three years, reflecting a commitment to shared growth and profitability.
“This collaboration is set to harness the strengths of both companies effectively,” stated Yu Su, the CEO of ZhongShun. He expressed enthusiasm regarding the game’s launch, emphasizing that the existing player base of over 2.5 million registered users, established even during the closed beta testing phase, serves as a testament to the title’s potential popularity.
But this joint venture aims to achieve more than just the success of its inaugural projects. Both partners are gearing up to unveil additional proprietary games, contributing to a broader gaming ecosystem designed for long-term sustainability and profitability. As the project progresses, The9’s comprehensive publishing capabilities will complement ZhongShun’s game development expertise, positioning the partnership for a series of future blockbuster releases.
In the context of growing interest in mobile gaming, The9 and ZhongShun's collaboration stands out as a significant development, promising innovative titles that are both engaging and commercially viable. As gaming continues to evolve, this strategic alignment between two key players in the industry could yield substantial returns for stakeholders and reshape the gaming landscape. With strong management and a mutual vision, the potential for success is truly exciting, marking a new chapter for The9 in the competitive gaming sector.
Stay tuned as The9 navigates through the joint venture’s exciting journey and reveals its forthcoming projects designed for a vibrant gaming community. The future of mobile gaming looks bright with the distinct blend of creativity and established IP at work in this partnership.
The centerpiece of this joint venture is the integration of two prominent mobile games: "Glory All Stars" and the newly developed "Ultraman: Hero Beyond Time." Notably, "Glory All Stars" has already established itself in the market, with reported cumulative revenues exceeding RMB 2 billion since its launch, maintaining a robust gross margin of around 40%. This successful title lays a solid foundation for the introduction of the Ultraman game, which is designed not only to entertain but to leverage the immense global appeal of the Ultraman franchise.
Hailed as an action RPG, "Ultraman: Hero Beyond Time" is being positioned as an upgraded version of "Glory All Stars." This title aims to capture the attention of existing Ultraman fans while attracting new players, thanks to its proven gameplay mechanics and the iconic character's extensive appeal. Given the strategic emphasis on data-driven design, the game is expected to outperform its predecessor within a short span, potentially capturing an even larger share of the gaming market.
The financial structure of this joint venture is equally promising, with after-tax profits to be distributed quarterly based on ownership percentages. The acquisition cost for the 51% stake totals RMB 69 million (approximately $9.7 million) along with restricted shares valued at RMB 46 million (around $6.5 million). Notably, these payments are structured as installments contingent upon the achievement of specific profit targets set by ZhongShun over the next three years, reflecting a commitment to shared growth and profitability.
“This collaboration is set to harness the strengths of both companies effectively,” stated Yu Su, the CEO of ZhongShun. He expressed enthusiasm regarding the game’s launch, emphasizing that the existing player base of over 2.5 million registered users, established even during the closed beta testing phase, serves as a testament to the title’s potential popularity.
But this joint venture aims to achieve more than just the success of its inaugural projects. Both partners are gearing up to unveil additional proprietary games, contributing to a broader gaming ecosystem designed for long-term sustainability and profitability. As the project progresses, The9’s comprehensive publishing capabilities will complement ZhongShun’s game development expertise, positioning the partnership for a series of future blockbuster releases.
In the context of growing interest in mobile gaming, The9 and ZhongShun's collaboration stands out as a significant development, promising innovative titles that are both engaging and commercially viable. As gaming continues to evolve, this strategic alignment between two key players in the industry could yield substantial returns for stakeholders and reshape the gaming landscape. With strong management and a mutual vision, the potential for success is truly exciting, marking a new chapter for The9 in the competitive gaming sector.
Stay tuned as The9 navigates through the joint venture’s exciting journey and reveals its forthcoming projects designed for a vibrant gaming community. The future of mobile gaming looks bright with the distinct blend of creativity and established IP at work in this partnership.
Topics Entertainment & Media）
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