SHENZHEN, China, March 16, 2026 — Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq: XNET), a prominent technology firm offering distributed cloud services in China, announced today that all preconditions for the disposal of a majority equity stake in Shenzhen Onething Technology Co., Ltd. (“Shenzhen Onething”), first announced on March 3, 2026 (the “Transaction”), have been met, and as a result, the Transaction has been successfully completed.
The Company’s variable interest entity based in China, Shenzhen Xunlei Networking Technologies Co., Ltd. (“Shenzhen Xunlei”), has transferred a 20% equity stake in Shenzhen Onething to Wuhan Kingsoft Cloud Information Technology Co., Ltd. for a cash consideration of RMB50 million (tax included), and a 30% equity stake in Shenzhen Onething to Shenzhen Xinghan Zhilian Technology Co., Ltd. for a cash consideration of RMB75 million (tax included), respectively. Following the completion of the Transaction, Shenzhen Xunlei holds a remaining 20% equity interest in Shenzhen Onething.
The Transaction is anticipated to streamline the Company’s resource allocation and business portfolio, while enabling the Company to keep a minority stake and share in the future growth of Shenzhen Onething.
About Xunlei
Established in 2003, Xunlei Limited (Nasdaq: XNET) is a leading technology provider of distributed cloud services in the Chinese market. Xunlei offers a wide array of products and services covering cloud acceleration, shared cloud computing and digital entertainment, to bring users an efficient, intelligent and secure internet experience.
Safe Harbor Statement
This press release includes forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology including “will,” “expects,” “believes,” “anticipates,” “future,” “intends,” “plans,” “estimates” and similar expressions. Among other content, the Company’s business outlook, its strategic, operational, asset disposal and acquisition plans, as well as plans and other relevant descriptions related to the Transaction, contain forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties, and are based on current expectations, assumptions, estimates and projections regarding the Company and its industry. Forward-looking statements carry inherent risks and uncertainties, including but not limited to: the Company’s ability to continue innovating and providing attractive products and services to retain and expand its user base; the Company’s capacity to keep pace with technological developments and changing user demands in the internet industry; the Company’s success in converting its users to paid subscribers of its premium services; the Company’s ability to address existing and potential copyright infringement claims and other related claims; the risk that public health risks in China or globally may negatively impact the Company’s operations or financial performance; the Company’s ability to respond to government actions for the supervision of internet content in China; and the Company’s ability to compete effectively. While the Company believes the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee that such expectations will prove to be accurate, and investors are warned that actual results may differ materially from the expected results. More information about the 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 current as of the date of the release, and the Company assumes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by applicable law.
CONTACT:
Investor Relations
Xunlei Limited
Email: ir@xunlei.com
Tel: +86 755 8633 8443
Website: http://ir.xunlei.com