THE9 LTD

Ticker: NCTY CUSIP: 88337K401 Class: SPON ADS

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (1)

BANK OF AMERICA CORP /DE/

Value ($000) $0 Shares 5

Institution	Shares	Value ($000)
BANK OF AMERICA CORP /DE/	5	$0

Increased Positions (1)

CITADEL ADVISORS LLC

Value ($000) $84 (-36.2%) Shares 13,263 (+6.4%)

Institution	Prev Shares	Curr Shares	Change
CITADEL ADVISORS LLC	12,464	13,263	+799 (+6.4%)

Decreased Positions (3)

JANE STREET GROUP, LLC

Value ($000) $183 (-68.3%) Shares 28,723 (-47.2%)

Value ($000) $4 (-98.5%) Shares 627 (-97.5%)

Value ($000) $5 (-97.8%) Shares 848 (-96.3%)

Institution	Prev Shares	Curr Shares	Change
JANE STREET GROUP, LLC	54,377	28,723	-25,654 (-47.2%)
MORGAN STANLEY	25,523	627	-24,896 (-97.5%)
UBS Group AG	23,060	848	-22,212 (-96.3%)

Exited Positions (3)

ROYAL BANK OF CANADA

Value ($000) $5 Shares 481

OSAIC HOLDINGS, INC.

Value ($000) $3 Shares 310

HRT FINANCIAL LP

Value ($000) $0 Shares 16,564

Institution	Prev Shares	Prev Value ($000)
ROYAL BANK OF CANADA	481	$5
OSAIC HOLDINGS, INC.	310	$3
HRT FINANCIAL LP	16,564	$0