The9's (NCTY) net revenues for the fourth quarter of 2005 grew by 15% quarter-over-quarter and 2,407% year-over-year to CNY212.2 million.

The news comes with the Chinese online game operator's release of financial results for the fourth quarter and fiscal year ended December 31, 2005.

The company says the significant revenue increase was mainly due to The9's commercial operation of WoW in China which commenced in June 2005 and continued to grow in the third and fourth quarter of 2005.

Net revenues attributable to the operation of World of Warcraft (WoW), including game playing time, merchandise sales and other related revenues, were CNY211.2 million in the fourth quarter of 2005, a 15% increase from CNY183.5 million in the third quarter of 2005.

Adjusted non-GAAP EBITDA was CNY108.9 million in the fourth quarter, compared with adjusted non-GAAP EBITDA of CNY58.1 million in the third quarter of 2005.

Net income for the fourth quarter of 2005 was CNY68.3 million, an 81% increase from CNY37.7 million in the third quarter of 2005.

Fully diluted earnings per share were CNY2.82 for the fourth quarter of 2005 compared with CNY1.54 for the third quarter of 2005.

Gross profit for the fourth quarter of 2005 increased by 5% to CNY97.3 million from CNY92.6 million in the third quarter of 2005 mainly due to increased revenues. Gross profit margin declined to 46% for the fourth quarter of 2005 from 50% in the third quarter of 2005.

As of December 31, 2005, the company's total cash and cash equivalents balance was CNY488.2 million.