Xunlei Announces Strategic Partnership with Newland Hi-Tech Group and Restructuring of LinkToken Program
September 17 2018 - 7:00AM
Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq: XNET), a
leading cloud-based bandwidth acceleration technology company in
China, today announced that the Company has entered into a
strategic partnership with Newland Hi-Tech Group Co., Ltd.
(“Newland”) (the “Strategic Partnership”). Newland is a
leading international integrated service provider of electronic
payment products. It has been developing a “Digital Citizen”
program in China, which is aimed to provide innovative public
services for citizens. Through the Strategic Partnership, Xunlei
and Newland will leverage their respective strengths and technology
know-how to research and develop new products and services.
In connection with the Strategic Partnership, Xunlei also
entered into a series of transactions with Beijing LinkChain Co.,
Ltd. (“Beijing LinkChain”), an associated company of Newland, to
transfer the exclusive right to operate LinkToken program within
mainland China, including without limitation, the formulation,
amendment and execution of the rules governing the rewarding of
LinkToken to users, LinkToken Pocket and the LinkToken Mall, and
the related assets and liabilities to Beijing LinkChain (the
“Transfer”). Upon the completion of this Transfer, Xunlei
will cease operating the LinkToken program within mainland China.
This Transfer will allow Xunlei to put more focus on research and
development of the underlying blockchain technology and
infrastructure, such as ThunderChain and ThunderChain File System
(TCFS). While the exclusive right to operate the LinkToken
program within mainland China has been transferred, users of
OneThing Cloud device will still be able to obtain LinkToken via
contributing their idle computing resources. Xunlei will also
continue to leverage shared computing and blockchain technology to
provide enterprise customers with cloud computing
services.
About Xunlei Xunlei Limited
("Xunlei") is a leading cloud-based bandwidth acceleration
technology company in China. Xunlei operates a powerful internet
platform in China based on cloud computing to provide users with
quick and easy access to digital media content through its core
products and services, Xunlei Accelerator and the cloud
acceleration subscription services. Xunlei is increasingly
extending into mobile devices in part through potentially
pre-installed acceleration products in mobile phones. Benefitting
from the large user base accumulated by Xunlei Accelerator, Xunlei
has further developed various value-added services to meet a fuller
spectrum of its users' digital media content access and consumption
needs.
Safe Harbor Statement This press
release contains statements of a forward-looking nature. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. You can identify
these forward-looking statements by terminology such as "will,"
"expects," "believes," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things,
the management's quotations contain forward-looking statements.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the
industry. Forward-looking statements involve inherent risks and
uncertainties, including but not limited to: the Company's ability
to continue to innovate and provide attractive products and
services to retain and grow its user base; the Company's ability to
keep up with technological developments and users' changing demands
in the internet industry; the Company's ability to convert its
users into subscribers of its premium services; the Company's
ability to deal with existing and potential copyright infringement
claims and other related claims; the Company’s ability to react to
the governmental actions for its scrutiny of internet content in
China and the Company's ability to compete effectively. Although
the Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that its expectations will turn out to be correct, and investors
are cautioned that actual results may differ materially from the
anticipated results. Further information regarding risks and
uncertainties faced by the Company is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release is as of the date of the
press release, and the Company undertakes no obligation to update
any forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Contact: Investor
RelationsXunlei Limited Email: ir@xunlei.com Tel: +86 755 8633 8443
Website: http://ir.xunlei.com
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