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The9 Signed a Legally Binding Term Sheet with a Leading AI SaaS Legal Service Platform 365LAWHELP.COM

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SHANGHAI, Feb. 21, 2024 /PRNewswire/ — The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, today announced that it signed a legally binding term sheet (the “Term Sheet”) with Zhejiang Fazhidao Information Technology Co., Ltd. (“Fazhidao”) to purchase 19% shares of Fazhidao by cash and issuance of The9’s restricted shares. The9 is also granted a purchase option to purchase up to 51% of the total shares of Fazhidao, based on a valuation calculated as 7 times of Fazhidao’s audited annual profit after tax, provided that such valuation should be higher than a pre-agreed valuation.

Established in 2019, Fazhidao owns and operates 365LAWHELP.COM and mobile app FaBaoWang, a leading artificial intelligence (AI) Software as a service (SaaS) legal service platform in China. It has more than 120,000 cumulative paid subscribers from large companies to micro companies and individuals. The gross sales were over US$50 million in 2023. 365LAWHELP.COM has provided more than 100 million times services to customers cumulatively. It has created large-scale AI legal models based on 13 billion model parameters, collecting historical legal service interactive data with the dynamic growth of more than 100,000 new consultation conversations data used for machine learning every day. Daily service data feeds back to the large-scale AI legal model at the same time, continuously improving the service quality.

365LAWHELP.COM develops AI legal Generative Pre-trained Transformer (Gpt) which provides the legal advice that complies with the laws and regulations based the platform’s real-time data. Based on database cases and AI model calculations, precaution measures and potential solutions are provided. Also future event development is predicted for customers to plan in advance develop forecasts and feasibility plans. The platform also provides the highest level of confidentiality for all customers’ information. The services offered include professional online legal consultation, one-stop enterprise-specific compliance services, tax consulting services, contract customization and review, electronic signatures, contract template download, legal letter submission, litigation document drafting and risk management and control solutions for enterprises’ modules including human resources, finance, administration and intellectual property.

Pursuant to the Term Sheet, The9 will pay cash consideration of US$1 million and will issue restricted Class A ordinary shares to Fazhidao with the value of US$14.2 million. The value of each share will be determined by the average closing price of The9 ADS 20 trading days prior to the signing of the definitive agreement. A portion of restricted shares will be released from lock-up when the market capitalization of The9 will reach US$200 million, US$500 million and US$1 billion respectively. The rest of the restricted shares shall be released from the lock-up when either of the following conditions are met: Fazhidao completes a qualified IPO and its shares owned by The9 become freely tradable in the open market; or if and when the The9 exercises its purchase option and, as a result, holds a minimum 51% of the then total share capital of Fazhidao. Fazhidao may undergo certain restructuring to facilitate these conditions.

“We are the leading AI SaaS legal service platform in China. We are the pioneer in this industry to use AI and industry big data to address the legal needs for enterprises effectively and efficiently. With the storage of substantial volume of industry data and by leveraging AI legal models to support its legal technology services, our AI platform has becoming more and more powerful to provide our customers with convenient and professional services. Our proprietary AI SaaS legal technology has already obtained 52 Software invention patents, copyrights and trademarks in China. There are more than 50 million companies in China. Majority of these are micro companies without in-house legal counsel. In 2023, the legal service market in China was approximately US$40 billion. There is a big room for us to increase our paid subscribers in China to 1 million in 3 years. The legal service market in the U.S. is even much bigger, being approximately US$300 billion in 2023. We observed there are several AI legal platforms in the U.S. with shorter history than us and doing very well in the U.S. With the investment from The9, we are going to strengthen our proprietary development ability and we are confident to safeguard our leading position in China and seek for global expansion in future. Our vision is to use AI legal technology to serve the billion individual and corporate markets in China and the U.S. through continued and focused AI legal technology improvement, and to deliver efficient, professional and affordable AI legal solutions. Everyone will no longer have legal troubles,” said Mr. Junkai Li, founder and CEO of Fazhidao.

“We believe AI technology and application will bring revolutionary changes to almost every industry in the World. Therefore huge market opportunities will be created for many industries. This investment is part of The9’s overall strategy to start with AI application business, including integrating AI technology into our business, partnering with other AI companies and investing and acquiring innovators who have developed their own AI applications,” said Mr. George Lai, CFO and Director of The9.

Safe Harbor Statement

This current report contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States 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” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond The9’s control. The9 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. 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 factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: The9’s goal and strategies; The9’s expansion plans; The9’s future business development, financial condition and results of operations; The9’s expectations regarding demand for, and market acceptance of, its products and services; The9’s expectations regarding keeping and strengthening its relationships with business partners it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in The9’s filings with the SEC. All information provided in this current report is as of the date hereof, and The9 does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

The9 Limited
17 Floor,
No. 130, Wu Song Road,
Hong Kou District,
Shanghai 200080, PRC

About The9 Limited 

The9 Limited (The9) is an Internet company listed on Nasdaq in 2004. The9 aims to become a global diversified high-tech Internet company, and is engaged in blockchain business including the operation of cryptocurrency mining. The9 is also stepping into AI application business in different industries.

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SOURCE The9 Limited

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Call out – Optimize’s glass-box approach provides greater insight to explainable property-specific settings, controls, and demand. Spherexx® Expands Optimize Revenue Management with CoPilot Predictive Simulation and Strategic Governance

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57 minutes ago

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November 4, 2026

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New internal coaching and simulation capabilities expand predictive insight, strategic governance and user control

TULSA, Okla., Oct. 28, 2026 /PRNewswire/ — Spherexx announced the addition of CoPilot to Optimize, its neural-driven multifamily revenue management platform. CoPilot expands Optimize’s strategic governance capabilities with explainable visibility into how recommendations are developed, how operating controls influence outcomes, and how adjustments may affect future performance.

Optimize’s glass-box approach to revenue management gives greater insight into why leasing rates are recommended.

Designed to strengthen Optimize’s glass-box approach to revenue management, CoPilot provides revenue managers with greater insight into why each leasing rate is recommended based on explainable property-specific settings, controls, and demand. Users can evaluate potential adjustments while maintaining direct human oversight, decision authority, and accountability. This methodology also applies to lease-up construction apartments where previous data is nonexistent, Optimize formulated Its neural network to identify occupancy growth patterns based on lease-up data and certificates of occupancy since 2013; becoming the first revenue management platform to successfully target and exceed construction proforma expectations.

A robust, layered simulator allows revenue managers to model the potential impact of changes before implementation, helping teams understand how adaptive controls may influence future results. For each unit type, users can elect to maintain the current published leasing price, accept Optimize’s recommended leasing price, or hold a price from an earlier date. Additionally, Optimize provides a concession simulation against public comparables to reveal how the cost of recurring or one-time concessions will affect actual new lease pricing.

CoPilot consolidates these decisions within a central workspace where users can review available leasing prices by status, existing rates, recommendations, explanations for changes, and the history of prior decisions. Revenue managers can adjust directly within the workflow, while embedded training video segments provide task-specific guidance throughout the platform.

Optimize continuously incorporates client’s property data through property management software integrations, along with client-selected settings for additional intelligence providers.

Forward-looking intelligence provides revenue managers with an expanded view of asset performance. Optimize displays the property’s known upcoming performance based on scheduled expirations, notices to vacate, and future lease data. Based on this information and historical performance, Optimize forecasts future occupancy, projected renewals, and potential new move-ins three months beyond the max lease term the property offers, i.e. a twelve-month lease will forecast a 15-month horizon. Market positioning based on public-comparable data can be reviewed for rent, vacancy, concessions and leasing velocity daily, weekly, or across a custom period.

CoPilot also extends governance capabilities for affordable and rent-controlled floor plans and units, enabling additional controls for fixed maximums, lease terms, and other applicable operating parameters

“We created Optimize as one of the early neural-intelligent revenue management platforms, and its intelligence has continued to evolve,” said Becca Wilson, Owner and CEO of Spherexx. “Our original vision remains the same: give clients pertinent, accurate and accessible intelligence they can understand, evaluate, and govern. CoPilot advances that vision by allowing revenue managers to see not only what Optimize recommends, but why it recommends it, explore the potential impact of their decisions, and remain firmly in control of the outcome.”

CoPilot builds upon Optimize’s established approach to transparent revenue management by combining predictive intelligence, adaptive controls, and strategic governance within a single decision environment.

About Spherexx.com®

Spherexx.com®: Redefining Real Estate Technology

Spherexx.com® continues to lead with cutting-edge predictive, generative, agentic, AI across a suite of software solutions, setting industry benchmarks for innovation.

With over two decades of experience, Spherexx.com® delivers top-tier Software as a Service (SaaS) internet-based software, data analytics, and marketing solutions to clients across the US and Canada. Spherexx expertise spans multifamily, single-family, affordable, senior, rent control, self-storage, and manufactured housing.

Spherexx technology stack streamlines operation and enhances brand experiences for clients, and their residents, and investors. Our technology stack includes:

Website CMS/Inline EditorSEM/GEO/AEO/LLM/PPCILS SyndicationCommission & Bonus ManagementBI DashboardsCRM + AI AgentWebsite Chat & Voice AIComparable AnalyticsRevenue ManagementInteractive Site PlansTouchscreen Leasing KiosksCustom Programming

Spherexx.com® is the authoritative trusted source for innovation and transformation in real estate technology. Visit www.spherexx.com to explore the future of PropTech.

News@spherexx.com

866.491.7500

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SOURCE Spherexx

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Empowering Malaysia’s Digital Future: AWS and Elitery Celebrate Grand Finale of AWS CendekiAwan

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November 4, 2026

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20 Finalist Teams from Four Top Malaysian Universities Reach the Grand Finale of AWS CendekiAwan

KUALA LUMPUR, Malaysia, Nov. 4, 2026 /PRNewswire/ — Amazon Web Services (AWS) and Elitery recently celebrated the Grand Finale of AWS CendekiAwan at Universiti Malaya (UM).

The event brings together 20 student finalist teams from four top Malaysian universities to pitch cutting-edge Generative AI solutions powered by Amazon Bedrock, tackling critical societal and enterprise challenges. Competing across five categories, the finalists will demonstrate how AI can be applied to address real-world challenges across education, healthcare, sustainability, financial inclusion, government technology, and social impact.

The CendekiAwan Malaysia program is a collaborative digital talent initiative by AWS and Elitery designed to bridge academic learning with practical industry requirements. Moving beyond theoretical AI concepts, the hands-on curriculum equipped participants from tech and non-tech backgrounds with practical skills in cloud computing, application development, and Generative AI.

Beginning at Asia Pacific University of Technology & Innovation (APU), the initiative expanded through self-learning, hands-on workshops, and showcase sessions across Multimedia University (MMU), Nilai University, and Universiti Malaya (UM). Utilizing AWS developer tools including PartyRock, Kiro, and Amazon Bedrock, students built functional prototypes from scratch. The program encouraged students to move beyond learning AI concepts and gain practical experience developing technology-driven solutions for real-world needs.

“CendekiAwan reflects our belief that AI should be built and deployed by hands and minds like these students to solve real challenges facing communities across Malaysia,” said Daniel Zhang, Regional Data Center Operations Leader Malaysia, AWS. “Together with Elitery and our partner universities, we are proud to see these students turn skills in Kiro and Amazon Bedrock into practical solutions for education, healthcare, sustainability, financial inclusion and public services.”

The showcase brings together key decision-makers across government, higher education, and industry, including representatives from Dewan Bandaraya Kuala Lumpur (DBKL). Beyond the competition, the event underscores Elitery and AWS’s shared commitment to building a resilient, future-ready AI workforce across Southeast Asia. “The CendekiAwan training programme supports Kuala Lumpur’s vision of ‘A Prosperous City for All by 2030’ by investing in talent development, strengthening capabilities, and fostering knowledge exchange. Through sustained training and collaboration, the programme seeks to contribute to a more dynamic, inclusive, and future-ready Kuala Lumpur, in line with DBKL’s commitment to the city’s socioeconomic progress and well-being,” said Ts. Kamariah binti Kamarudin, Representative of DBKL.

Representing Elitery, President Director Kresna Adiprawira said, “Through CendekiAwan, we help students move beyond learning AI concepts to building practical applications that address real-world challenges. We are proud to see their ideas turn into meaningful innovations and help shape the next generation of digital talent.”

Finalists showcase projects across five categories:

Smart Education: Enhancing learning and accessibility.Digital Health: Improving healthcare and wellbeing.Sustainable Environment & Climate: Advancing sustainability and climate resilience.Financial Inclusion & SME: Supporting business growth and financial access.GovTech & Social Impact: Improving public services and community inclusion.

Through these categories, students demonstrate how Generative AI can translate into practical applications that address challenges faced by communities, institutions, businesses, and society.

“The development process was seamless thanks to the comprehensive technology provided by AWS. For students looking to build AI-powered solutions, the most vital factor is the core idea focus on solving real-world problems.” Dewan AI — Winner, GovTech & Social Impact, Multimedia University (MMU).

As Generative AI transforms industries, CendekiAwan equips students with practical skills and innovation capabilities to develop impactful, real-world solutions through collaboration between AWS, Elitery, and Malaysian universities.

CendekiAwan Malaysia is an AWS and Elitery initiative with partner universities, equipping students from four Malaysian universities with practical cloud computing and Generative AI skills through hands-on learning, culminating in 20 finalist teams competing across five categories using Amazon Bedrock.

PT Data Sinergitama Jaya Tbk  (Elitery, IDX: ELIT)  is an Indonesian publicly listed technology company specializing in IT Managed Services, AI, and cloud solutions, serving over 200 customers across three countries. In 2026, Elitery earned the AWS Migration Competency Designation.

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SOURCE Elitery

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Small Joys, Big Market: Products That Spark Joy Take the Spotlight at 140th Canton Fair

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November 4, 2026

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GUANGZHOU, China, Nov. 3, 2026 /PRNewswire/ — As emotional value becomes a key consumption driver, consumers are increasingly willing to pay for fun, companionship and peace of mind, offering an everyday interpretation of what “Better Life” truly means. This trend was on display throughout Phase 3 of the 140th Canton Fair.

Small Products, Big Feelings

In the Office Supplies Section, beyond traditional business supplies, vibrant products are capturing attention. Pens are expected to be visually appealing while staplers are designed to be cute as well as functional. Products that provide a burst of pleasure are gaining popularity.

3D stickers have emerged as a favorite among journaling enthusiasts. These stickers double as puzzles, requiring no glue and allowing users to assemble them for fun, turning decorations into interactive toys.

In the Toys Section, bag charms in various designs are ubiquitous. Meanwhile, animal-shaped sofa cushions in lazy, prone poses offer a healing touch. Filled with eco-friendly weighted glass beads, they provide a gentle hugging sensation, offering comfort and relaxation.

Emotional Comfort Across Categories

Emotional comfort was equally evident in products designed for children and pets.

A duck-shaped toy created for infants and toddlers aged 6 to 36 months attracted interest from overseas buyers. Simulating the movements of a real duck through head-turning and waddling motions alongside lights, sounds and voice guidance, the toy supports crawling, early learning and emotional comfort. Educational and bedtime-soothing modes offer music, stories, nursery rhymes and bilingual content, helping nurture development and providing a sense of security.

Meanwhile, the Pet Products and Food Section demonstrated how emotional needs also extend to animal companions. From creatively designed cat climbing structures to interactive automatic toys, exhibitors presented products aimed at enriching pets’ daily lives and strengthening the bond between pets and their owners.

As consumers increasingly seek products that deliver emotional as well as practical benefits, Phase 3 of the 140th Canton Fair offers a glimpse into evolving lifestyles and expectations. The message behind “Better Life” is clear: better living is no longer defined solely by utility, but by products that bring comfort, connection and joy.

For more convenient attendance, please click here for pre-registration:

https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

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SOURCE Canton Fair

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