ThZeal - The Zeal

SCHEDULE 13D

CUSIP No.

88337K401

Name of reporting person

Jun Zhu

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

PF, OO

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

SINGAPORE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,663,162,566.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 595,124,658.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

1,663,162,566.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

38.4 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Note to Rows (7) (9) and (11) - Consists of (i) 6,107,334 Class B ordinary shares and 912,094 Class A ordinary shares represented by American depositary shares ("ADSs") held by Incsight Limited, a British Virgin Islands company that is wholly owned and controlled by Mr. Jun Zhu, (ii) 57,500,000 Class B ordinary shares, 525,300,000 Class A ordinary shares and 5,305,230 Class A ordinary shares represented by ADSs that are held by Mr. Jun Zhu, among which 384,000,000 Class A ordinary shares are subject to lock-up period and restrictions that will be removed in installments, provided that certain pre-agreed performance target of the Issuer are met, and (iii) 823,793,208 Class A ordinary shares and 244,244,700 Class A ordinary shares represented by ADSs that are held by certain shareholders of the Issuer (including Bripheno Pte. Ltd., Wevision Pte. Ltd., Zhejiang Huanyu Network Technology Co., Ltd., Shao Xing Tong Ze Network Science and Technology Co., Ltd. and Shenzhen JiTuo Interactive Technology Co., Ltd) who have granted Mr. Jun Zhu and/or Incsight Limited the sole voting power with respect to such shares through respective contractual arrangements. Each Class B ordinary share is convertible at the option of the holder into one Class A ordinary share, whereas Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Note to Row (13) - Based on 4,336,675,635 outstanding ordinary shares as a single class, being the sum of 4,273,068,301 Class A ordinary shares and 63,607,334 Class B ordinary shares outstanding as of April 28, 2025.

SCHEDULE 13D

CUSIP No.

88337K401

Name of reporting person

Incsight Limited

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

WC, OO

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,075,057,336.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 7,019,428.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

1,075,057,336.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

24.8 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Note to Rows (7) (9) and (11) - Consists of (i) 6,107,334 Class B ordinary shares and 912,094 Class A ordinary shares represented by ADSs held by Incsight Limited, a British Virgin Islands company that is wholly owned and controlled by Mr. Jun Zhu, and (ii) 823,793,208 Class A ordinary shares and 244,244,700 Class A ordinary shares represented by ADSs that are held by certain shareholders of the Issuer (including Bripheno Pte. Ltd., Wevision Pte. Ltd., Zhejiang Huanyu Network Technology Co., Ltd., Shao Xing Tong Ze Network Science and Technology Co., Ltd. and Shenzhen JiTuo Interactive Technology Co., Ltd) who have granted Mr. Jun Zhu and/or Incsight Limited the sole voting power with respect to such shares through respective contractual arrangements. Each Class B ordinary share is convertible at the option of the holder into one Class A ordinary share, whereas Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Note to Row (13) - Based on 4,336,675,635 outstanding ordinary shares as a single class, being the sum of 4,273,068,301 Class A ordinary shares and 63,607,334 Class B ordinary shares outstanding as of April 28, 2025.

SCHEDULE 13D

Item 1.

Security and Issuer

(a)

Title of Class of Securities:

Class A ordinary shares, par value US$0.01 per share

(b)

Name of Issuer:

The9 LTD

(c)

Address of Issuer's Principal Executive Offices:

17 Floor, No. 130 Wu Song Road, Hong Kou District, Shanghai, CHINA , 200080.

Item 3.

Source and Amount of Funds or Other Consideration

Item 3 of the Schedule 13D is hereby supplemented by the following. From November 2023 to March 2025, certain shareholders of the Issuer (including Bripheno Pte. Ltd., Wevision Pte. Ltd., Zhejiang Huanyu Network Technology Co., Ltd., Shao Xing Tong Ze Network Science and Technology Co., Ltd. and Shenzhen JiTuo Interactive Technology Co., Ltd) have granted Mr. Jun Zhu and/or Incsight Limited the sole voting power with respect to a total number of 823,793,208 Class A ordinary shares and 244,244,700 Class A ordinary shares represented by ADSs held by such respective shareholders through respective contractual arrangements. On November 11, 2024, the Issuer issued a total of 50,000,000 Class B ordinary shares to Mr. Jun Zhu. On March 10, 2025, the Issuer issued a total of 300,000,000 Class A ordinary shares to Mr. Jun Zhu pursuant to the Eleventh Amended and Restated 2004 Stock Option Plan of the Issuer. Those shares were issued in the form of restricted shares, and are subject to a three-year vesting schedule and lock-up restrictions. Other than the aforementioned, no other transaction in the securities of the Issuer was conducted by the reporting persons during the past 60 days.

Item 5.

Interest in Securities of the Issuer

(a)

The responses of each Reporting Person to Rows (11) through (13) of the cover pages of this Schedule 13D are hereby incorporated by reference in this Item 5.

(b)

See Item 5(a) above.

Item 6.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6 of the Schedule 13D is hereby supplemented by the following. In November 2023, Bripheno PTE. LTD.("Bripheno"), a shareholders of the Issuer, signed a voting agreement with Incsight Limited, pursuant to which Bripheno designated all of its voting rights on the matters subject to the Issuer's shareholders' voting to Incsight Limited based on the belief that Incsight Limited's vote is for the best interest of shareholders. In May, 2024, Wevision Pte. Ltd. ("Wevision"), a shareholders of the Issuer, signed a voting agreement with Mr. Jun Zhu and Incsight Limited, pursuant to which Wevision agrees to designate all of its voting rights of the subscription shares (including those represented by ADSs) acquired under a private placement securities purchase agreement dated May 23, 2024 between Wevision and the Issuer to Mr. Jun Zhu and Incsight Limited. In August, October, and December 2024, the Issuer signed share purchase agreements with Zhejiang Huanyu Network Technology Co., Ltd., Shao Xing Tong Ze Network Science and Technology Co., Ltd. and Shenzhen JiTuo Interactive Technology Co., Ltd., respectively, pursuant to which the foregoing three entities agree that as long as they hold Class A ordinary shares or ADSs that entitle them to the voting rights on the matter subject to the Issuer's voting during its general meetings, they shall vote on all matters in the same manner as the Incsight Limited. In March 2025, the Issuer signed a private placement securities purchase agreements with Bripheno, pursuant to which Bripheno agrees that so long as it holds Class A ordinary shares or ADSs that entitle it to the voting rights on the matter subject to the Issuer's shareholders' voting during its annual or extraordinary general meetings, it shall vote on the matters in the same manner as Incsight Limited.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Jun Zhu

Signature:	/s/ Jun Zhu
Name/Title:	Jun Zhu
Date:	04/28/2025

Incsight Limited

Signature:	/s/ Jun Zhu
Name/Title:	Jun Zhu/Director
Date:	04/28/2025