The Mongolian outfit pulled off a thrilling 21-19 win in the final on Hengsha Island after dominating the previous rounds.

They led their pool on the opening day and maintained a winning streak throughout the knockout rounds with victories over China's Wuxi and the underdog team from Madagascan capital Antananarivo, who clinched the bronze medal.

In the final they faced a tough challenge as they met second-seed Liman led by sharpshooters Zhang Ning and Stefan Kojic.

It was a tense battle with neither side holding a lead greater than three points throughout the match.

Ulaanbaatar eventually took a 20-19 lead late in the game before Steve Sir sealed the victory with a free throw.

Sir was also named as the tournament's Most Valuable Player (MVP) following his performance in the final where he amassed six points, two key assists, one rebound, and two highlight plays.

He was sensational throughout the whole campaign as in the overall standings he finished third in player value, on 37.1, second in scoring with 37 points, and second in two-pointers made with 12.

He received the award from Chen Lijun, member of the Standing Committee and director general of the publicity department of the Shanghai Chongming District Committee.

In addition to the MVP award, Sir won the shoot-out contest while Ukrainian Dmytro Kryvenko sealed victory in the dunk contest.

The World Tour is set to stay in China, with the next event scheduled to take place from October 21 to 22.