Solowin Holdings vs The9
Solowin Holdings is the larger business, with $28.0m of revenue in fiscal 2026 against $15.0m for The9 (1.9 times as much). Solowin Holdings grew faster (895.0% against -3.3%). Solowin Holdings kept more of each dollar of sales as profit: a net margin of -47.4% against -373.0%.
| Latest fiscal year | Solowin HoldingsAXG, 2026 | The9NCTY, 2025 |
|---|---|---|
| Revenue | $28.0m | $15.0m |
| Revenue growth | 895.0% | -3.3% |
| Net income | −$13.3m | −$56.0m |
| Operating margin | — | — |
| Net margin | -47.4% | -373.0% |
| Return on equity | -88.9% | -152.0% |
| Free cash flow | −$15.5m | — |
| Cash | $16.8m | $8.4m |
| Total debt | $5.2m | $31.8m |
| Debt to equity | 20.8% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $220m | $20.4m |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |