SHANGHAI, Feb. 1, 2018 /PRNewswire/ — The9 Limited (“The9”) (Nasdaq: NCTY), an established Internet company, today announced that The9 Singapore Pte. Ltd. (“The9 Singapore”), its wholly-owned subsidiary established in Singapore, signed a partnership agreement with C&I Singapore Renewable and Innovative Tech Pte. Ltd. (“C&I”) in relation to the proposed cooperation using blockchain technology. Pursuant to the agreement, with respect to the trading and distribution of solar energy using blockchain technology, The9 Singapore will provide C&I with related blockchain technology, one-stop solution and community operation. The parties also contemplate to explore further cooperation opportunities together with different solar energy companies and consumers to create an efficient and decentralized platform for the trading and distribution of solar generated energy, and create synergies for solar rooftop distributed energy projects and energy storage solution business.
C&I is a joint venture company established in Singapore by Comtec Solar Systems Group Limited (HKSE: 00712) and ISDN Holdings Limited (HKSE: 01656 and SGX: I07).
In January this year, The9 announced its plan to step into blockchain-related business. The9 will provide global enterprises with a full range of customized services for blockchain-related projects, including complete technical solutions, research and development support, and offshore investing and financing deals, to help enterprises building up blockchain technology ecosystem. The9 may further pursue investment opportunities in new blockchain investments with high potential.
Mr. Jun Zhu, Chairman of The9, commented: “We are pleased to establish a strategic partnership with C&I to develop an innovative platform and a more efficient ecology using blockchain technology in energy production and distribution. We believe this cooperation will not only achieve the execution of energy platform and technology, but more importantly, bring more environmentally-friendly access to electricity and energy for global users and contribute to the green sustainable Earth.
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,” “considers” and similar statements. Statements that are not historical facts, including statements about The9’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, The9’s ability to license,