UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2009

Commission File Number: 001-34238

THE9 LIMITED

Building No. 3, 690 Bibo Road
Zhangjiang Hi-tech Park, Pudong New Area
Shanghai 201203, People’s Republic of China
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F þ		Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 15, 2009

Exhibit Index

Exhibit 99.1 — Press Release

Exhibit 99.1

The9 Limited Files Annual Report on Form 20-F and Compares the Amounts Included in 20-F and 6-K

Shanghai, China — July 15, 2009. The9 Limited (NASDAQ: NCTY) (“The9”) filed its annual report on Form 20-F for the fiscal year ended December 31, 2008 with the Securities and Exchange Commission today. On April 16, 2009, The9 announced that it had learned that Blizzard Entertainment’s World of Warcraft will be licensed to another China-based online game company following the expiration of the license agreement with The9. As a result of the expiration and non-renewal of the license agreement, as well as taking into consideration certain other events that occurred subsequent to year-end in connection with certain other licensed games and lower than expected operating performance of one of its games, The9 has revised the amounts of certain of the line items included in the financial information as of and for the year and quarter ended December 31, 2008 that The9 announced in a Form 6-K on February 24, 2009. The net income and basic and diluted earnings per share for the year ended December 31, 2008 presented in The9’s annual report on Form 20-F are 72% lower than those for the same period presented in the Form 6-K on February 24, 2009. Attached is a comparison of the amounts included in the 2008 Form 20-F which The9 filed today and the amounts reported on February 24, 2009.

About The9 Limited

The9 Limited is an online game operator and developer in China. The9’s business is primarily focused on operating and developing high-quality games for the Chinese online game market. The9 directly or through affiliates operates licensed MMORPGs and advanced casual games including Soul of The Ultimate Nation™, Granado Espada, EA SPORTS™ FIFA Online 2 and Atlantica in mainland China. It has also obtained exclusive licenses to operate other games in mainland China, including Audition 2 and Field of Honor. In addition, The9 is developing various proprietary games, including World of Fighter, Jiu Zhou Zhan Ji and other MMORPGs and advanced causal games.

For further information, please contact:

Ms. Phyllis Sai
IR Manager, Investor Relations
The9 Limited
Tel: +86 (21) 5172-9990
Fax: +86 (21) 5172-9903
Email: IR@corp.the9.com
Website: http://www.corp.the9.com/

THE9 LIMITED
Comparison of Amounts Included in the 2008 Audited Financial Statements Presented in the 20-F and the 2008 Unaudited Financial Information Presented in the 6-K on February 24, 2009
Consolidated Statement of Operations Information
(Expressed in Renminbi — RMB and US Dollars — US$, except share data)

		Per 6-K								Per 20-F								Difference
		Year Ended				Year Ended				Year Ended				Year Ended				Year Ended				Year Ended
		December 31,				December 31,				December 31,				December 31,				December 31,				December 31,
		2008				2008				2008				2008				2008				2008
		RMB				US$				RMB				US$				RMB				US$				Notes
		(unaudited)				(unaudited)				Note				(unaudited)
Net Revenues			1,708,058,000				250,356,614				1,711,490,694				250,859,756				3,432,694				503,142			A
Gross Profit			780,335,256				114,376,732				713,542,154				104,586,610				(66,793,102	)			(9,790,122	)		B
Profit from operations			363,348,490				53,257,382				134,549,625				19,721,454				(228,798,865	)			(33,535,928	)		C, D
Net income			348,347,222				51,058,589				96,836,036				14,193,629				(251,511,186	)			(36,864,960	)		E
Earnings per share
- Basic			12.59				1.85				3.50				0.51				-9.09				-1.34
- Diluted			12.57				1.84				3.50				0.51				-9.07				-1.33

Note: Numbers extracted from the 2008 audited financial statements

THE9 LIMITED
Comparison of the 2008 Q4 Revised Amounts and the 2008 Unaudited Financial Information Presented in the 6-K on February 24, 2009
Consolidated Statement of Operations Information
(Expressed in Renminbi — RMB and US Dollars — US$, except share data)

		Per 6-K								Revised Amounts								Difference
		Quarter Ended				Quarter Ended				Quarter Ended				Quarter Ended				Quarter Ended				Quarter Ended
		December 31,				December 31,				December 31,				December 31,				December 31,				December 31,
		2008				2008				2008				2008				2008				2008
		RMB				US$				RMB				US$				RMB				US$				Notes
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Net Revenues			405,126,956				59,381,013				408,559,650				59,884,155				3,432,694				503,142			A
Gross Profit			177,381,131				25,999,434				159,389,309				23,362,302				(17,991,822	)			(2,637,132	)		B
Profit from operations			57,690,651				8,455,941				(122,306,934	)			(17,926,997	)			(179,997,585	)			(26,382,938	)		C, D
Net income			44,386,700				6,505,930				(158,323,206	)			(23,206,040	)			(202,709,906	)			(29,711,970	)		E
Earnings per share
- Basic			1.62				0.24				-5.78				-0.85				-7.40				-1.09
- Diluted			1.62				0.24				-5.78				-0.85				-7.40				-1.09

THE9 LIMITED
Comparison of Amounts Included in the 2008 Audited Financial Statements Presented in the 20-F and the 2008 Unaudited Financial Information Presented in the 6-K on February 24, 2009
Consolidated Balance Sheet Information
(Expressed in Renminbi — RMB and US Dollars — US$)

		Per 6-K								Per 20-F								Difference
		December 31,				December 31,				December 31,				December 31,				December 31,				December 31,
		2008				2008				2008				2008				2008				2008
		RMB				US$				RMB				US$				RMB				US$				Notes
		(unaudited)				(unaudited)				Note				(unaudited)
Accounts receivable			28,265,038				4,142,915				8,323,084				1,219,945				(19,941,954	)			(2,922,970	)		C
Advances to suppliers			10,127,063				1,484,362				1,435,781				210,448				(8,691,282	)			(1,273,914	)		B, C
Prepayments and other current assets			75,859,061				11,118,954				68,371,912				10,021,533				(7,487,149	)			(1,097,421	)		B, C
Prepaid royalties			142,725,743				20,919,860				138,843,227				20,350,784				(3,882,516	)			(569,076	)		B
Deferred costs			57,237,238				8,389,482				55,748,737				8,171,306				(1,488,501	)			(218,176	)		A
Deferred tax assets, current			5,604,862				821,526				—				—				(5,604,862	)			(821,526	)		E
Property, equipment and software			277,305,841				40,645,781				200,034,094				29,319,766				(77,271,747	)			(11,326,015	)		B, D
Intangible assets			203,673,697				29,853,235				136,129,801				19,953,068				(67,543,896	)			(9,900,167	)		D
Prepayment for equipment			46,500,000				6,815,683				—				—				(46,500,000	)			(6,815,683	)		C
Deferred tax assets, non-current			17,107,459				2,507,506				—				—				(17,107,459	)			(2,507,506	)		E
Other taxes payable			99,226,613				14,544,025				99,416,815				14,571,903				190,202				27,878			A
Advances from customers			144,040,476				21,112,565				143,464,990				21,028,214				(575,486	)			(84,351	)		C
Deferred revenue			205,268,848				30,087,043				201,645,952				29,556,021				(3,622,896	)			(531,022	)		A

Note: Numbers extracted from the 2008 audited financial statements

Notes:

A. Recognition of additional revenue in connection with WoW CD-Key. Prior to 2008, CD-Key fees are amortized over one-year period; effective January 1, 2008, they are amortized over the shorter of one year or WoW’s remaining license period, starting from the time when the game players activate the CD-Key. The corresponding additional deferred cost and sales taxes are accrued accordingly. Details see 2008 audited financial statements Note 2<14>.

B. Gross profit decreased because the Company recorded impairment and certain other charges in cost of services, as a result of the non-renewal of the WoW license agreement beyond June 7, 2009 including WoW-related prepaid royalties and inventories included in prepayments and other current assets. In addition, the Company adjusted the expected useful life of the servers and related equipment, and the expected value of the servers and related equipment at the end of the WoW license. Details see 2008 audited financial statements Note 2<8>. The effect of depreciation charge increased cost of services in 2008 Q1, Q2, Q3 and Q4 by RMB14,058,294, RMB16,860,935, RMB17,882,051 and RMB19,569,203, respectively.

C. Additional general and administrative expenses are recorded since certain prepayment for equipment, advances to suppliers, accounts receivable and prepayments and other current assets were written off due to the expiration and non-renewal of WoW. Details see 2008 audited financial statements Notes 16, 2<7> and 22.

D. Impairment provision is made due to the write off of intangible assets and equipment. As a result of the non-renewal of the WoW license agreement beyond June 7, 2009, as well as taking into consideration certain other events that occurred subsequent to year-end in connection with certain other licensed games and lower than expected operating performance of Granado Espada, the Company recorded impairment and certain charged to upfront licensed fee and computer and equipment. Details see 2008 audited financial statements Note 13.

E. Valuation allowance of deferred tax assets is provided based on the latest estimated future utilization of deferred tax assets, which is revised due to the expiration and non-renewal of WoW license. Details see 2008 audited financial statements Notes 15.