U9 Game, a long-running Chinese gaming company founded in 1984, exited the Shanghai Stock Exchange and went private on Tuesday. The firm was one of the first to list on the then newly-established Shanghai exchange in 1990. U9 Game hit RMB 30 billion ($4.47 billion) in market cap in 2015 but since then its fortunes have faltered. The company failed to maintain the popularity of its primary title, Dynasty War, or to replicate the game’s initial success with other titles; Dynasty War was pulled from app stores in March. The firm managed to turn a profit in 2019 by selling off some assets, but its annual net loss expanded to RMB 75.8 million in 2021, according to 36Kr. In the last five years, U9 has lost RMB 1.4 billion in total. [36Kr, in Chinese]
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