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The company said that the buybacks be funded from existing cash reserves.
Shanghai, China-based The9 Limited's business is primarily focused on operating and developing games for the Chinese online game market. The company and its affiliates operate licensed MMORPGs, consisting of MU, Blizzard Entertainment's World of Warcraft, Soul of The Ultimate Nation, Granado Espada, and its first proprietary MMORPG, Joyful Journey West, in mainland China.
The9 has also obtained exclusive licenses to operate additional MMORPGs and advanced casual games in mainland China, including Hellgate: London, Ragnarok Online 2, Emil Chronicle Online, Huxley, EA Sports FIFA Online 2, Audition 2, Field of Honor and Atlantica. The company is also developing various proprietary games, including Warriors of Fate Online and others.
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Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .
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