NCTY
NYB is inching toward Nasdaq
The9’s investee, Nanyang Biologics, just got one more box checked on the road to a Nasdaq listing after shareholders at an extraordinary general meeting cleared the RFAI vote. In plain English: the paperwork-and-vote marathon is still going, but the finish line is looking less mythical.
For The9, this matters because the company expects to end up with roughly 15% to 16% of the combined Nasdaq-listed entity. That means investors aren’t just watching a biotech headline for biotech’s sake — they’re watching a potential equity stake that could eventually show up as a more meaningful asset than a headline in a press release.
Why investors should care
This is the kind of story that can be easy to shrug off if you only look at The9 as a gaming-and-internet name. But this deal keeps pushing the company deeper into AI-driven drug discovery, which is a very different animal — part venture bet, part strategic reset, part “we’re not just doing the old thing anymore.”
If the listing crosses the finish line, The9 could own a meaningful slice of a public biotech vehicle at a time when anything with AI in the sentence tends to attract attention like free pizza in an office building.
The big picture
The9 is still mostly telling a story about optionality here: a legacy tech company taking a swing at a higher-growth, higher-hype corner of the market. If NYB gets to Nasdaq, the market will have to decide whether this is a clever strategic pivot or just an expensive detour. Either way, the next chapter is getting more concrete.
Big picture: the vote didn’t make the biotech dream real, but it did make it a lot less imaginary.