Xunlei Completes Equity Transfer of Shenzhen Onething Technology
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 16 2026
0mins
Xunlei announced that all conditions precedent to the disposition of a majority equity interest in Shenzhen Onething Technology, as previously announced on March 3, have been satisfied and accordingly, the Transaction has closed. The Company's variable interest entity in China, Shenzhen Xunlei Networking Technologies Co., has transferred 20% and 30% of the equity interest in Shenzhen Onething to Wuhan Kingsoft Cloud Information Technology Co., Ltd., for a cash consideration of RMB50 million, and to Shenzhen Xinghan Zhilian Technology Co., Ltd., for a cash consideration of RMB75 million, respectively. Upon completion of the Transaction, Shenzhen Xunlei retains a 20% equity interest in Shenzhen Onething. The Transaction is expected to optimize the Company's resource allocation and business portfolio while allowing the Company to retain a minority stake and participate in Shenzhen Onething's future growth.
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About XNET
Xunlei Ltd is a company principally engaged in the provision of distributed cloud services. The Company engages in the operation of Internet platform based on cloud technology to enable users to access, store, manage and consume digital media content on the Internet. The Company also provides a wide range of products and services across cloud acceleration, shared cloud computing and digital entertainment to deliver a smart and safe Internet environment to users. The Company delivers products such as Xunlei Accelerator and subscription services. The Company also provides cloud computing services and products, live streaming and other value-added services. The Company mainly conducts its businesses in the domestic market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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