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The9 Ltd ADR (NCTY)


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Upturn Advisory Summary
10/17/2025: NCTY (1-star) is a SELL. SELL since 2 days. Simulated Profits (-12.67%). Updated daily EoD!
Analysis of Past Performance
Type Stock | Historic Profit 4.1% | Avg. Invested days 40 | Today’s Advisory SELL |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 107.44M USD | Price to earnings Ratio - | 1Y Target Price 3.5 |
Price to earnings Ratio - | 1Y Target Price 3.5 | ||
Volume (30-day avg) - | Beta 1.82 | 52 Weeks Range 5.75 - 20.59 | Updated Date 06/29/2025 |
52 Weeks Range 5.75 - 20.59 | Updated Date 06/29/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -2.09 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -65.73% | Operating Margin (TTM) 7.04% |
Management Effectiveness
Return on Assets (TTM) -6.43% | Return on Equity (TTM) -29.1% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 125211026 | Price to Sales(TTM) 0.96 |
Enterprise Value 125211026 | Price to Sales(TTM) 0.96 | ||
Enterprise Value to Revenue 8.03 | Enterprise Value to EBITDA 38.74 | Shares Outstanding 13850400 | Shares Floating 843236674 |
Shares Outstanding 13850400 | Shares Floating 843236674 | ||
Percent Insiders 6.36 | Percent Institutions 2.53 |
Upturn AI SWOT
The9 Ltd ADR

Company Overview
History and Background
The9 Limited, founded in 1999, initially gained prominence by operating online games in China, including 'World of Warcraft'. Over time, it has diversified its business into areas like blockchain technology, NFT, and electric vehicle manufacturing.
Core Business Areas
- Blockchain and Cryptocurrency: Focuses on cryptocurrency mining and related blockchain technologies, including hosting and development.
- NFT: Exploring and investing in NFT-related opportunities.
- Electric Vehicle (EV): The company is heavily invested in the research, development, manufacturing, and sale of electric vehicles.
Leadership and Structure
The leadership team consists of key executives in finance, technology, and operations, reporting to the CEO. The organizational structure includes departments for gaming, blockchain, and EV, with independent teams for each segment.
Top Products and Market Share
Key Offerings
- Cryptocurrency Mining: Involves hosting and managing cryptocurrency mining operations. Revenue from cryptocurrency mining is a core part of the business strategy, but market share data is highly variable and depends on mining efficiency, electricity cost, and cryptocurrency prices. Key competitors are Marathon Digital Holdings (MARA) and Riot Platforms (RIOT).
- Electric Vehicles: Focuses on research, development, manufacturing, and sale of electric vehicles. The company is still in the early stages of development with no significant market share yet. Competitors include Tesla (TSLA) and NIO (NIO).
- NFTs: Company is involved in exploring and investing in NFT-related opportunities with no significant market share yet. Competitors include OpenSea and Magic Eden.
Market Dynamics
Industry Overview
The blockchain and cryptocurrency industry is rapidly growing but volatile, driven by increasing adoption and technological advancements. The electric vehicle market is also experiencing rapid expansion due to growing environmental concerns and government incentives. The NFT market has seen a boom, but now it has declined in recent times.
Positioning
The9 Ltd ADR seeks to position itself as an early adopter and innovator in the blockchain and EV space, leveraging its previous experience in the gaming industry to explore new opportunities. The company's competitive advantages are its adaptability and diversification. However, it faces significant competition from established players with greater resources.
Total Addressable Market (TAM)
The combined TAM of the cryptocurrency, EV, and NFT markets is substantial. The9 Ltd ADR is positioned to capture a portion of this TAM through its diverse investments, though it remains a smaller player compared to larger, more established companies. TAM estimates for cryptocurrency mining vary widely depending on crypto prices and adoption rates. The global EV market is expected to reach trillions of dollars in the coming decades. The NFT market, despite recent downturns, still represents a significant opportunity.
Upturn SWOT Analysis
Strengths
- Diversified business model
- Early adoption of emerging technologies
- Established presence in the Chinese market
- Adaptable to market changes
Weaknesses
- Limited resources compared to larger competitors
- Dependence on volatile markets (cryptocurrency, NFTs)
- Unproven track record in EV manufacturing
- Limited brand recognition outside of China
Opportunities
- Growing demand for electric vehicles
- Expanding adoption of cryptocurrency and blockchain technologies
- Increasing popularity of NFTs
- Government support for renewable energy and technology
Threats
- Intense competition in all business segments
- Regulatory uncertainty surrounding cryptocurrency and NFTs
- Technological obsolescence
- Economic downturns impacting consumer spending
Competitors and Market Share
Key Competitors
- TSLA
- NIO
- MARA
- RIOT
Competitive Landscape
The9 Ltd ADR faces intense competition from established players in the EV and cryptocurrency industries. Its advantages include its adaptability and diversification, but it lacks the resources and brand recognition of its larger competitors.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been inconsistent, reflecting the volatile nature of its core business areas.
Future Projections: Future projections are highly uncertain and depend on the success of its EV initiatives and cryptocurrency ventures. Analyst estimates are not uniformly available.
Recent Initiatives: Recent strategic initiatives include expanding EV manufacturing capabilities and investing in new blockchain projects.
Summary
The9 Ltd ADR is a highly speculative company with diverse interests in cryptocurrency, EVs and NFTs. Its historical lack of profitability and small size compared to its competitors make the company highly speculative. The company shows promise with its focus on emerging technologies, but faces challenges in execution and competition. Investors should carefully consider the risks before investing in The9 Ltd ADR.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Industry reports
- Market analysis reports
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. The information provided is based on available data and may be subject to change. Investments in The9 Ltd ADR are highly speculative and involve significant risk.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About The9 Ltd ADR
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2004-12-15 | Co-Founder, Chairman & CEO Mr. Jun Zhu | ||
Sector Financial Services | Industry Capital Markets | Full time employees 50 | Website https://www.the9.com |
Full time employees 50 | Website https://www.the9.com |
The9 Limited operates as a cryptocurrency mining company in China, Eastern Europe, Asia, and North America. The company provides IT with technical services for the operation of computer software and related businesses, including the provision of systematic solutions for the operation of internet websites, the rental of computer and internet facilities, daily maintenance of internet servers and databases, the development and update of computer software, and other related technical and consulting services. It also develops and operates mobile and computer games, as well as publishes and services MIR M, an online game. The company was incorporated in 1999 and is headquartered in Shanghai, the People's Republic of China.

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