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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
The9
The9 (NCTY) investor relations material
The9 Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary24 Aug, 2026
Executive summary
Achieved record half-year net income of $55 million, the highest since IPO in 2004, with Q2 net income of $32 million, up 39% sequentially, driven by fair value recognition of 9BIT tokens.
Strategic repositioning to integrate gaming and digital asset expertise via The9bit, an AI-powered game creation platform, which surpassed 180,000 user-created games since August 2025.
Investment in NYB, an AI-driven drug discovery company, expected to contribute significant investment income following its SPAC merger approval, with anticipated 15%-16% ownership post-combination.
475 million 9BIT tokens received in Q2; cumulative 1.9 billion tokens allocated in H1 2026.
Financial highlights
Q2 2026 net income reached $32 million, a 39% increase from the previous quarter, with H1 2026 net income totaling $55 million.
Total cryptocurrency holdings valued at $120 million, including 347 BTC and 1.9 billion 9BIT tokens.
9BIT token daily trading volume is about $10 million; token price rose from $0.003 at listing to $0.05.
Outlook and guidance
Expect strong revenue growth for The9bit platform in the second half of 2026 as in-game purchase games launch.
Focus remains on stabilizing and scaling The9bit ecosystem, with selective pursuit of complementary AI-driven opportunities.
Expansion into new markets like the U.S. and Europe will be deliberate, adapting the Southeast Asia model as needed and considering local regulatory conditions.
Management expresses confidence in long-term convergence of AI, user-generated content, and digital assets.
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Latest events from The9
- Shelf registration enables up to $188M in securities amid regulatory and financial headwinds.NCTY
Registration filing - Offering up to $188M in securities, the firm faces regulatory and financial risks amid ongoing losses.NCTYRegistration filing
- VIE-based gaming and crypto firm faces losses and regulatory risks; proceeds for general use.NCTYRegistration filing
- Flexible $188M shelf offering targets gaming and crypto growth amid high regulatory risk.NCTYRegistration filing
- Shelf registration enables up to US$188M in securities amid regulatory and financial headwinds.NCTYRegistration filing
- Acquisition of remaining 49% of Shuzhi for RMB 75M, contingent on profit targets.NCTYQ4 2025
- 2024 revenue dropped 35.8% as mining slowed and The9 relaunched gaming via joint ventures.NCTYQ4 2024
Next The9 earnings date
Q4 202614 Apr, 2027
The9
Next The9 earnings date
Q4 202614 Apr, 2027
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Frequently asked questions
The9 Limited, originally known as GameNow.net Limited, is an Internet company based in Shanghai, China. It operates both domestically and internationally, primarily focusing on the development and operation of online games and cryptocurrency mining. Additionally, The9 Limited manages NFTSTAR, a Non-Fungible Token (NFT) trading and community platform that facilitates the purchase, trade, and interactive activities related to NFTs. Founded in 1999 and rebranded in 2004, the company has diversified its interests while maintaining a focus on electronic gaming and multimedia within the communication services sector. The company is headquartered in Shanghai, and its shares are listed on the Nasdaq.