Exhibit 99.1

The9 Limited Announces Unaudited Financial Information
as of and for the Six Months Ended December 31, 2019

The9 Limited (the “Company”) hereby announces its unaudited consolidated statement of income for the six months ended December 31, 2019 and its unaudited consolidated balance sheet as of December 31, 2019.

THE9 LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME INFORMATION
(Expressed in Renminbi - RMB and US Dollars - US$, except share data)
	Six months ended June 30,			Six months ended December 31,
	2019			2018			2019			2019
	RMB (unaudited)			RMB (unaudited)			RMB (unaudited)			US$ (Note)
Revenues:
Online game services		263,579			6,602,920			39,998			5,745
Other revenues		-			398,058			39,500			5,674
		263,579			7,000,978			79,498			11,419
Sales taxes		(12,252	)		(29,206	)		10,670			1,533
Total net revenues		251,327			6,971,772			90,168			12,952
Cost of revenues		(115,060	)		(8,070,890	)		(1,227,206	)		(176,277	)
Gross profit (loss)		136,267			(1,099,118	)		(1,137,038	)		(163,325	)
Operating (expenses) income:
Product development		(8,658,009	)		(12,383,432	)		(4,432,521	)		(636,692	)
Sales and marketing		(852,176	)		(809,751	)		(1,262,343	)		(181,324	)
General and administrative		(33,479,081	)		(61,566,994	)		(80,387,919	)		(11,547,002	)
Impairment on other long-lived assets		-			-			(34,881,000	)		(5,010,342	)
Gain on disposal of subsidiaries		1,235,874			197,456			(28,949	)		(4,158	)
Total operating expenses		(41,753,392	)		(74,562,721	)		(120,992,732	)		(17,379,518	)
Other operating income, net		22,680			117,008			7,560			1,086
Loss from operations		(41,594,445	)		(75,544,831	)		(122,122,210	)		(17,541,757	)
Impairment on equity investments and available-for-sale investments		-			(1,386,174	)		(4,666,128	)		(670,247	)
Impairment on other investments		-			(7,776,157	)		(3,791,039	)		(544,549	)
Impairment on other advances		-			-			(5,980,788	)		(859,086	)
Interest (expenses) income, net		(17,193,207	)		(53,472,220	)		(17,289,773	)		(2,483,520	)
Gain on disposal of equity investee and available-for-sale investment		694,628			-			-			-
Gain on disposal of other investments		3,000,000			-			10,430,588			1,498,260
Fair value change on warrants liability		(964,594	)		(667,617	)		2,256,838			324,174
Foreign exchange gain (loss)		2,259,149			(13,706,421	)		(7,733,151	)		(1,110,798	)
Other income, net		5,581,578			1,150,481			3,791,074			544,554
Loss before income tax expense and share of loss in equity method investments		(48,216,891	)		(151,402,939	)		(145,104,589	)		(20,842,969	)
Income tax benefit		-			-			-			-
Share of loss in equity method investments		(1,824,878	)		(2,665,646	)		(1,022,382	)		(146,856	)
Net loss for the period		(50,041,769	)		(154,068,585	)		(146,126,971	)		(20,989,825	)
Net loss attributable to noncontrolling interest		(7,030,290	)		(8,812,728	)		(6,487,693	)		(931,899	)
Net loss attributable to redeemable noncontrolling interest		(2,525,192	)		(3,157,709	)		(2,330,397	)		(334,741	)
Net loss attributable to The9 Limited		(40,486,287	)		(142,098,148	)		(137,308,881	)		(19,723,185	)
Change in redemption value of redeemable noncontrollling interest		(10,497,201	)		(18,005,020	)		(2,330,397	)		(334,741	)
Net loss attributable to holders of ordinary shares		(50,983,488	)		(160,103,168	)		(139,639,278	)		(20,057,926	)
Other comprehensive loss,net of tax:
Currency translation adjustments		(2,642,951	)		(1,012,104	)		1,849,420			265,653
Total comprehensive loss		(52,684,720	)		(155,080,689	)		(144,277,551	)		(20,724,172	)
Comprehensive loss attributable to:
Noncontrolling interest		(9,063,344	)		(20,317,842	)		(10,674,774	)		(1,533,335	)
Redeemable noncontrolling interest		(2,525,192	)		(3,157,709	)		(2,330,397	)		(334,741	)
The9 Limited		(41,096,184	)		(131,605,138	)		(131,272,380	)		(18,856,098	)
Net loss attributable to holders of ordinary shares per share
- Basic		(0.60	)		(2.58	)		(1.31	)		(0.19	)
- Diluted		(0.60	)		(2.58	)		(1.31	)		(0.19	)
Weighted average number of shares outstanding
- Basic		84,283,464			62,114,760			106,407,008			106,407,008
- Diluted		84,283,464			62,114,760			106,407,008			106,407,008

Note: The United States dollar (“US dollar” or “US$”) amounts disclosed in the accompanying financial statements are presented solely for the convenience of the readers at the rate of US$1.00 = RMB6.9618, representing the noon buying rate on the last trading day of December 2019(December 31, 2019) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board.

THE9 LIMITED
UNAUDITED CONSOLIDATED BALANCE SHEETS INFORMATION
(Expressed in Renminbi - RMB and US Dollars - US$)
	As of December 31, 2018			As of December 31, 2019
	RMB			RMB			US$
	(audited)			(unaudited)			(Note)
Assets
Current Assets:
Cash and cash equivalents		4,256,449			10,113,141			1,452,662
Accounts receivable, net of allowance for doubtful accounts of RMB1,149,864 and RMB1,319,331 as of December 31, 2018 and 2019, respectively		592,897			110,437			15,863
Advances to suppliers		15,808,042			11,246,608			1,615,474
Prepayments and other current assets, net of allowance for doubtful accounts of  RMB 20,770,928 and RMB 5,343,427 as of December 31, 2018 and 2019, respectively		6,148,787			8,848,534			1,271,012
Amounts due from related parties		6,207,846			758,761			108,989
Assets classified as held-for-sale		-			123,390,350			17,723,915
Total current assets		33,014,021			154,467,831			22,187,915
Investments		45,216,118			10,000,000			1,436,410
Property, equipment and software, net		17,352,445			1,218,521			175,030
Land use rights, net		62,589,656			-			-
Operating lease right-of-use assets		-			9,257,604			1,329,772
Other long-lived assets, net		6,515,200			6,515,200			935,850
Total Assets		164,687,440			181,459,156			26,064,977
Liabilities, Redeemable Noncontrolling Interest and Shareholders' Equity (Deficit)
Current Liabilities:
Short-term borrowings		112,461,383			117,526,089			16,881,566
Accounts payable		38,035,661			38,232,425			5,491,744
Other taxes payable		2,949,082			1,203,644			172,893
Advances from customers		39,631,950			39,527,778			5,677,810
Other advances		-			56,276,200			8,083,570
Amounts due to related parties		71,849,633			74,379,529			10,683,951
Deferred revenue		159,125			-			-
Refund of game points		169,998,682			169,998,682			24,418,783
Warrants		1,490,844			198,600			28,527
Convertible notes		375,257,140			414,127,908			59,485,752
Interest payable		15,298,961			5,371,931			771,630
Accrued expenses and other current liabilities		81,291,306			93,140,843			13,378,845
Current portion of operating lease liabilities		-			3,407,670			489,481
Liabilities directly associated with assets classified as held-for-sale		-			44,691,296			6,419,503
Total current liabilities		908,423,767			1,058,082,595			151,984,055
Non-current portion of operating lease liabilities		-			6,251,705			898,001
Total Liabilities		908,423,767			1,064,334,300			152,882,056
Redeemable Noncontrolling Interest		341,074,539			349,046,548			50,137,400
Shareholders' Equity (Deficit):
Ordinary shares (US$0.01 par value; 91,315,465 and nil shares issued and outstanding as of December 31, 2018 and 2019, respectively)		6,502,658			-			-
Class A ordinary shares  (US$0.01 par value; nil and 103,737,691 shares issued and outstanding as of December 31, 2018 and 2019, respectively)		-			7,321,099			1,051,610
Class B ordinary shares  (US$0.01 par value; nil and 9,192,011 shares issued and outstanding as of December 31, 2018 and 2019, respectively)		-			648,709			93,181
Additional paid-in capital		2,496,069,065			2,539,552,478			364,783,889
Statutory reserves		28,071,982			28,071,982			4,032,288
Accumulated other comprehensive loss		(9,204,556	)		(3,777,952	)		(542,669	)
Accumulated deficit		(3,233,061,063	)		(3,410,856,231	)		(489,938,842	)
The9 Limited shareholders' deficit		(711,621,914	)		(839,039,915	)		(120,520,543	)
Noncontrolling interest		(373,188,952	)		(392,881,777	)		(56,433,936	)
Total shareholders' deficit		(1,084,810,866	)		(1,231,921,692	)		(176,954,479	)
Total liabilities, redeemable noncontrolling interest and shareholders' equity (deficit)		164,687,440			181,459,156			26,064,977

Note: The United States dollar (“US dollar” or “US$”) amounts disclosed in the accompanying financial statements are presented solely for the convenience of the readers at the rate of US$1.00 = RMB6.9618, representing the noon buying rate on the last trading day of December 2019 (December 31, 2019) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board.

About The9 Limited

The9 Limited is an Internet company based in China listed on Nasdaq in 2004. The9 aims to become a diversified high-tech Internet company.