Xunlei Announces Further Restructuring of LinkToken Program
October 01 2018 - 06:00AM
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
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 RelationsXunlei LimitedEmail:
ir@xunlei.comTel: +86 755 8633 8443Website:
http://ir.xunlei.com
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