The9 Limited (NASDAQ:NCTY) (“The9” or the “Company”), an established Internet company, today announced that it plans to change the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares (the “ADS Ratio”), par value US$0.01 per share, from the current ADS Ratio of one (1) ADS to thirty (30) Class A ordinary shares to a new ADS Ratio of one (1) ADS to three hundred (300) Class A ordinary shares. The Company anticipates that the change in the ADS Ratio will be effective on or about October 2, 2023 (the “Effective Date”).
For The9’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split. On the Effective Date, ADS holders of the Company will be required to surrender and exchange every ten (10) existing ADSs then held for one (1) new ADS. The Bank of New York Mellon, as the depositary bank for the Company’s ADS program (the “Depositary”), will arrange for the exchange of the current ADSs for the new ones. The9’s ADSs will continue to be traded on the Nasdaq Capital Market under the symbol “NCTY.”
