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ORGANIZATION AND NATURE OF OPERATIONS

12 Months Ended

Dec. 31, 2022

ORGANIZATION AND NATURE OF OPERATIONS

ORGANIZATION AND NATURE OF OPERATIONS

1. ORGANIZATION AND NATURE OF OPERATIONS

The accompanying consolidated financial statements include the financial statements of The9 Limited (the “Company”), which was incorporated on December 22, 1999 in the Cayman Islands, its subsidiaries and variable interest entitie (“VIE subsidiaries” or “VIE”), (collectively referred to as the “Group”). The Company or The9 Limited, and its subsidiaries and consolidated VIE are also collectively referred to as the “Group”, or where appropriate, the terms the “ Group”,”we”,”our”, or “us” also referred to The9 or the Company and its subsidiaries and the consolidated VIE as a whole.

The Group had been operating an online game business before the Group’s listing until 2021, the Group has turned our business focus to blockchain business and are primarily engaged in the operation of cryptocurrency mining and a Non-Fungible Token platform NFTSTAR since 2022.

The Company’s principal subsidiaries and VIE are as follows as of December 31, 2022:

​

​	​	​	​	​	​	​	​
​		Date of		Place of		Legal
Name of Entity		Registration		Registration		Ownership
Principal subsidiaries:	​	​	​	​	​	​	​
GameNow.net (Hong Kong) Ltd. (“GameNow Hong Kon”)		January‑2000		Hong Kong		100	%
China The9 Interactive Limited (“C9I”)		October‑2003		Hong Kong		100	%
China The9 Interactive (Beijing) Ltd. (“C9I Beijing”)		March‑2007		PRC		100	%
JiuTuo (Shanghai) Information Technology Ltd. (“Jiu Tuo”)		July-2007		PRC		100	%
China Crown Technology Ltd. (“China Crown Technology”)		November‑2007		Hong Kong		100	%
Asian Way Development Ltd. (“Asian Way”)		November‑2007		Hong Kong		100	%
New Star International Development Ltd. (“New Star”)		January‑2008		Hong Kong		100	%
The9 Interactive, Inc. (“The9 Interactive”)		June‑2010		USA		100	%
Shanghai Jiu Gang Electronic Technology Ltd. (“Jiu Gang”)		December‑2014		PRC		100	%
City Channel Ltd. (“City Channel”)		June‑2006		Hong Kong		100	%
NFTStar Singapore Pte. Ltd. (“NFTStar Singapore”)	​	August-2021	​	Singapore	​	100	%
NFTSTAR US Inc. (“NFTSTAR US”)	​	August-2021	​	USA	​	100	%
NFTSTAR LTD.UK (“NFTSTAR UK”)	​	July-2021	​	UK	​	100	%
NFTSTAR Hong Kong LTD. (“NFTSTAR Hong Kong”)	​	August-2021	​	Hong Kong	​	100	%
STARNFT HONG KONG LIMITED (“STARNFT Hong Kong”)	​	October-2021	​	Hong Kong	​	100	%
Nswap Singapore Pte. Ltd. (“Nswap Singapore”)	​	May-2021	​	Singapore	​	100	%
Montcrypto Limited (“Montcrypto”)	​	February-2021	​	Canada	​	61	%
Terry First Limited (“Terry First”)	​	June-2021	​	UK	​	100	%
System Run Limited (“System Run”)	​	September-2021	​	Cayman Islands	​	100	%
Lucky Pure Limited (“Lucky Pure”)	​	September-2021	​	Cayman Islands	​	100	%
Vast Ocean International Limited(“Vast Ocean”)	​	April-2021	​	Hong Kong	​	100	%
The9 Singapore Pte. Ltd. (“The9 Singapore”)		April‑2010		Singapore		100	%
1111 Limited (“1111”)		January -2018		Hong Kong		100	%
Supreme Exchange Limited (“Supreme”)		December‑2018		Malta		90	%
BET 111 Ltd. (“Bet 111”)	​	January -2019	​	Malta	​	90	%
Coin Exchange Ltd (“Coin”)	​	January -2019	​	Malta	​	90	%
The9 EV Limited (“The9 EV”)	​	May-2019	​	Hong Kong	​	100	%
NBTC Limited (“NBTC”)	​	June-2019	​	Hong Kong	​	100	%
FF The9 China Joint Venture Limited (“FF The9”)	​	September-2019	​	Hong Kong	​	50	%
Huiling Computer Technology Consulting (Shanghai) Co.Ltd. (“Huiling”)	​	March-2019	​	PRC	​	100	%
Leixian Information Technology (Shanghai) Co., Ltd. (“Leixian”)	​	March-2019	​	PRC	​	100	%
Shanghai Yuyou Network Technology Co., Ltd. (“Yuyou”)	​	December-2016	​	PRC	​	100	%
Hangzhou Niuxin Technology Co., Ltd. (“Niuxin”)	​	August-2021	​	PRC	​	100	%
​	​	​	​	​	​	​	​
Variable interest entity:	​	​	​	​	​	​	​
Shanghai The9 Information Technology Co., Ltd. (“Shanghai IT”) (Note 4)		September‑2000		PRC		N/A	​

​

Subsidiaries and VIE of Shanghai IT:

​

​	​	​	​	​	​	​	​
​		​		​		Legal
​	​	Date of	​	Place of	​	Ownership Held
Name of Entity		Registration		Registration		by Shanghai IT
Shanghai Jiushi Interactive Network Technology Co., Ltd. (“Jiushi”)		July‑2011		PRC		80	%
Shanghai ShencaiChengjiu Information Technology Co., Ltd. (“SH Shencai”)		May‑2015		PRC		60	%
Shanghai Zhiaojiqi Information Technology Co., Ltd. (“Shanghai Zhiaojiqi”)	​	November-2015	​	PRC	​	0	%
Wuxi Interest Dynamic Network Technology Co., Ltd. (“Wuxi Qudong”)		June‑2016		PRC		100	%
Silver Express Investments Ltd. (“Silver Express”)		November‑2007		Hong Kong		100	%
Shanghai Jiuciyuan Computer Co., Ltd. (“Jiuciyuan”)	​	July-2021	​	PRC	​	60	%
Shanghai Big data culture media Co., Ltd(“Big data”)	​	April-2007	​	PRC	​	68.0078	%

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- Definition

The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=99393423&loc=d3e5967-108592

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-URI https://asc.fasb.org/topic&trid=2134479

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- References

No definition available.

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