The9 Limited acquires stake in AI EdTech company WeiXiang
The9 Limited, a company listed on Nasdaq under the ticker NCTY, has announced a significant investment in WeiXiang, a Chinese AI-powered educational technology company.
WeiXiang, founded by Xu Wang, a notable figure in China's educational technology sector, has introduced innovations like the YuanDing K-12 class management platform. This platform reached millions of daily active users.
In 2020, Wang launched WeiXiang to create an online school ecosystem powered by short videos and live streaming, using platforms like TikTok, KuaiShou, and WeChat Video Channels.
WeiXiang has grown a substantial following, with over 9 million followers across these platforms. Its most popular teacher attracted over 300,000 simultaneous viewers in a single live stream.
The company uses AI to enhance productivity and reduce operational costs. Key AI applications include content creation, live streaming technology, and AI teaching assistants.
Wang commented on the partnership, stating:
"Weixiang is committed to extending high-quality education to underserved markets, ensuring students in remote areas have access to the same resources as those in major cities. “
The investment will change the number of shares The9 Limited has in the market. Right now, The9 has about 2.7 billion shares in total. The deal includes a cash payment of USD 1.5 million and issuing about 284 million special shares to WeiXiang.
These special shares can't be traded right away—they will become tradable in stages if The9's market value hits certain targets or if WeiXiang goes public with its own shares.
Wang continued:
Our future plans include recruiting and supporting grassroots teachers in lower-tier cities, helping them maximise their teaching potential through short videos and live streaming. These teachers will receive training and support from Weixiang to improve their teaching quality and content creation skills, ultimately benefiting local students and parents.
Our AI applications will continue to embody our philosophy of "Inclusive education for all." On top of that, we will also strengthen our AI application on AI data analysis.
We will develop advanced data analysis panels to accurately analysing student performance, which will offer teachers insights in optimising educational strategies, improving lessons and recommending assignments to enhance educational quality and effectiveness.”
