SHANGHAI, Nov. 2, 2017 /PRNewswire/ -- The9 Limited (NASDAQ: NCTY), an online game developer and operator in China, today announced that its subsidiary has signed an exclusive publishing agreement with Alibaba Games' subsidiary, pursuant to which The9's subsidiary granted Alibaba Games' subsidiary an exclusive right to publish its proprietary CrossFire brand new shooting mobile game in China.
The9 Limited's subsidiary has developed the CrossFire brand new shooting mobile game using the CrossFire intellectual property licensed from Smilegate Entertainment, Inc. The9 Limited currently expects to launch the game in 2018.
The9 Limited's joint venture Oriental Shiny Star Limited has also signed a settlement agreement with Smilegate Entertainment, Inc. to terminate the license of CrossFire 2. Under the settlement agreement, The9 Limited will receive cash refund of the previous upfront license fee payment from Smilegate Entertainment, Inc.
About The9 Limited
The9 Limited is an online game developer and operator in China. The9 develops and/or operates, directly or through its affiliates, its proprietary mobile games and web games, including the CrossFire brand new shooting mobile game, Audition mobile, Knight Forever, Q Jiang San Guo and Wildlands God of War.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, statements about the testing and launch schedule of the CrossFire brand new shooting mobile game may constitute forward-looking statements. Statements that are not historical facts, including statements about The9 Limited's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, political and economic policies of the Chinese government, the laws and regulations governing the online game industry, information disseminated over the Internet and Internet content providers in China, intensified government regulation of Internet cafes, The9 Limited's ability to retain existing players and attract new players, The9 Limited's ability to license, develop or acquire additional online games that are appealing to users, The9 Limited's ability to anticipate and adapt to changing consumer preferences and respond to competitive market conditions, and other risks and uncertainties outlined in The9 Limited's filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 20-F. The9 Limited does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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SOURCE The9 Limited