The9 Limited announced its unaudited condensed consolidated statements of operations and balance sheet for the six months ended June 30, 2024. This financial disclosure provides an update on the company's performance during the first half of the year.
A significant reclassification was noted, as the company ceased operations of its NFT business in January 2023 due to unfavorable financial performance. The NFT business operations were reclassified as discontinued operations, reflecting the company's exit from this segment.
Additionally, The9 revised its accounting policy for fees deducted by mining pool operators, reclassifying the amount from cost of revenues to a reduction of cryptocurrency mining revenue for both the six months ended June 30, 2023, and 2024. This reclassification had no impact on the company's gross profit or operating results for the respective periods.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.