SHENZHEN, China, Oct. 01, 2018 (GLOBE NEWSWIRE) -- 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 transaction with Beijing LinkChain Co., Ltd. (“Beijing LinkChain”), an independent third party, to transfer its overseas LinkToken program (the “Transfer”).
Pursuant to the Transfer, Xunlei will transfer the exclusive right to operate LinkToken program outside mainland China, including without limitation, the formulation, amendment and execution of the rules governing the rewarding of LinkToken to users of overseas LinkToken program, LinkToken Pocket, and the related assets and liabilities to Beijing LinkChain. While the exclusive right to operate the overseas LinkToken program has been transferred, overseas users of OneThing Cloud device will still be able to obtain LinkToken via contributing their idle computing resources and redeem products and services in LinkToken Mall. Xunlei will also continue to leverage shared computing and blockchain technology to provide enterprise customers with cloud computing services.
Upon the completion of this Transfer and the restructuring of the LinkToken program within mainland China, which was announced on September 17, 2018, Xunlei will no longer operate the LinkToken program. Instead, the Company will be fully committed to become a dedicated provider of the underlying blockchain technology and infrastructure, such as ThunderChain and ThunderChain File System (TCFS).
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 Relations
Xunlei Limited
Email: ir@xunlei.com
Tel: +86 755 8633 8443
Website: http://ir.xunlei.com
Source: Xunlei Limited
