XNET on Nasdaq
Xunlei Limited
Logo: http://xunlei.com/, Non-free logo, via Wikipedia5
Chinese multinational technology company
Xunlei Limited (Chinese: 迅雷; pinyin: Xùnléi; Jyutping: seon3 leoi4; lit. 'thunderbolt') is a Chinese multinational technology company and an online service provider founded in 2003. The subsidiary of Xunlei Limited, Shenzhen Xunlei Networking Technologies, Co., Ltd. (Chinese: 迅雷网络技术有限公司) was formerly known as Sandai Technologies (Shenzhen) Inc. and changed its name to Shenzhen Xunlei Networking Technologies, Co., Ltd. in May 2005. Its headquarters are in Nanshan District, Shenzhen.3 Its shares trade on Nasdaq under the symbol XNET.1 Wikipedia text CC BY-SA 4.0
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Last updated Oct 21, 2026.
Overview
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- TickerXNET on Nasdaq1
- IndustryInternet industry1
- HeadquartersGaoxinqu1
- Websitewww.xunlei.com
- Legal formlimited liability company1
- Business address3709 Baishi Road, Nanshan District, Shenzhen, 5180007
- Filer categoryAccelerated filer7
- LEI529900PYSOIKBMQIQY914
- StatusActive4
- LEI statusLapsed (not renewed)4
- Registered addressc/o MAPLES CORPORATE SERVICES LIMITED, P. O. Box 309, Ugland House, South Church Street, KY1-1104 George Town, Cayman Islands4
- Registered withGeneral Registry, 1447194
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Xunlei Limited (Chinese: 迅雷; pinyin: Xùnléi; Jyutping: seon3 leoi4; lit. 'thunderbolt') is a Chinese multinational technology company and an online service provider founded in 2003. The subsidiary of Xunlei Limited, Shenzhen Xunlei Networking Technologies, Co., Ltd. (Chinese: 迅雷网络技术有限公司) was formerly known as Sandai Technologies (Shenzhen) Inc. and changed its name to Shenzhen Xunlei Networking Technologies, Co., Ltd. in May 2005. Its headquarters are in Nanshan District, Shenzhen.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Live streaming revenue brought in 37% of the revenue Xunlei Limited broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2025 |
|---|---|
| Live streaming revenue | $170.2M |
| Subscription and Circulation | $154.8M |
| Product and Service, Other | $137.5M |
Business segments
Xunlei brought in 96% of the revenue Xunlei Limited broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Xunlei | $442.3M | ||
| Hupu | $20.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue18¢$242.9M
- Research and development6¢$80.0M
- Income tax0¢$1.3M
- Profit76¢$1.0B
Out of $460.4M in revenue.6
Where each dollar of operating cash went, fiscal 2025
- Capital spending16¢$5.3M
- Kept or used elsewhere84¢$27.1M
Out of $32.5M of cash from operations.6
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues, net of rebates and discounts (including transactions with related parties of US$17,270, US$15,963 and US$16,309 for the years ended December 31, 2023, 2024 and 2025, respectively) | $462.4M | $324.4M | $364.9M |
| Taxes and surcharges | -$2.0M | -$1.3M | -$1.2M |
| Net revenues | $460.4M | $323.1M | $363.7M |
| Gross profit | $217.5M | $167.6M | $163.1M |
| Research and development expenses | -$80.0M | -$71.6M | -$74.2M |
| Sales and marketing expenses | -$86.3M | -$44.8M | -$43.5M |
| General and administrative expenses | -$44.9M | -$45.8M | -$46.9M |
| Impairment of goodwill | -$20.7M | ||
| Credit loss (expenses)/write-back, net | $262.0K | -$288.0K | -$100.0K |
| Total operating expenses | -$210.9M | -$183.3M | -$164.7M |
| Operating (loss)/income | $6.6M | -$15.7M | -$1.6M |
| Interest income | $3.3M | $4.9M | $4.6M |
| Interest expense | -$1.7M | -$728.0K | -$1.5M |
| Other income, net | $1.0B | $9.2M | $16.9M |
| Income/(loss) before income taxes | $1.0B | -$2.4M | $18.4M |
| Income tax (expenses)/benefits | $1.3M | $3.0M | -$4.1M |
| Net income for the year | $1.0B | $663.0K | $14.3M |
| Less: net income/(loss) attributable to the non-controlling interests | -$655.0K | -$552.0K | $41.0K |
| Net income attributable to Xunlei Limited | $1.0B | $1.2M | $14.2M |
| Net income for the year | $1.0B | $663.0K | $14.3M |
| Other comprehensive (loss)/income: Currency translation adjustments, net of tax | $4.2M | -$2.7M | -$4.2M |
| Comprehensive income/(loss) | $1.1B | -$2.1M | $10.1M |
| Less: comprehensive income/(loss) attributable to non-controlling interests | -$703.0K | -$520.0K | $83.0K |
| Comprehensive income/(loss) attributable to Xunlei Limited | $1.1B | -$1.6M | $10.0M |
| Basic (in dollars per share) | $3.37 | $0.00 | $0.04 |
| Diluted (in dollars per share) | $3.31 | $0.00 | $0.04 |
| Basic (in shares) | 311.4M shares | 318.8M shares | 326.4M shares |
| Diluted (in shares) | 316.5M shares | 319.1M shares | 326.8M shares |
| Costs of revenues (including transactions with related parties) | $242.9M | $155.6M | $200.6M |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $157.0M | $177.3M | $170.8M | $177.2M |
| Short-term investments | $148.2M | $110.2M | ||
| Accounts receivable, net (Allowance for current expected credit losses of US$1,258 and US$1,471 as of December 31, 2024 and 2025, respectively) | $68.4M | $32.7M | ||
| Inventories | $403.0K | $1.3M | ||
| Due from related parties (Allowance for current expected credit losses of US$691 and US$334 as of December 31, 2024 and 2025, respectively) | $12.8M | $31.5M | ||
| Prepayments and other current assets (Allowance for current expected credit losses and impairment of US$6,223 and US$5,516 as of December 31, 2024 and 2025, respectively) | $12.8M | $10.1M | ||
| Total current assets | $399.7M | $363.0M | ||
| Long-term investments | $1.1B | $30.6M | ||
| Deferred tax assets | $10.1M | $10.5M | ||
| Property and equipment, net | $54.8M | $55.4M | ||
| Operating lease assets | $1.9M | $450.0K | $575.0K | |
| Intangible assets, net | $32.7M | $8.3M | ||
| Goodwill | $39.2M | $20.8M | ||
| Due from a related party (Allowance for current expected credit losses of nil and US$174 as of December 31, 2024 and 2025, respectively) | $19.8M | |||
| Long-term prepayments and other assets | $2.3M | $5.3M | ||
| Restricted cash | $806.0K | $218.0K | ||
| Total assets | $1.6B | $473.9M | ||
| Accounts payable | $42.0M | $23.0M | ||
| Due to related parties | $8.0K | $17.0K | ||
| Contract liabilities, current portion | $43.1M | $39.9M | ||
| Income tax payable | $4.3M | $9.4M | ||
| Accrued liabilities and other payables | $81.3M | $52.1M | ||
| Short-term borrowings and current portion of long-term borrowings | $37.2M | $2.1M | ||
| Lease liabilities | $487.0K | $253.0K | ||
| Total current liabilities. | $208.4M | $126.7M | ||
| Contract liabilities | $1.6M | $458.0K | ||
| Deferred tax liabilities | $6.1M | $1.2M | ||
| Long-term borrowings | $38.4M | $27.1M | ||
| Other long-term payables | $3.5M | $480.0K | ||
| Lease liabilities | $1.3M | $161.0K | ||
| Total liabilities | $259.4M | $156.1M | ||
| Common shares (375,001,940 shares issued and 307,351,196 shares outstanding as of December 31, 2024; 375,001,940 shares issued and 314,277,001 shares outstanding as of December 31, 2025) | $78.0K | $77.0K | ||
| Treasury shares (67,650,744 shares and 60,724,939 shares as of December 31, 2024 and 2025, respectively) | $15.0K | $16.0K | ||
| Additional paid-in-capital | $480.1M | $477.2M | ||
| Statutory reserves | $9.7M | $8.7M | ||
| Accumulated other comprehensive loss | -$17.4M | -$21.7M | ||
| (Accumulated deficits)/retained earnings | $901.0M | -$146.3M | ||
| Total Xunlei Limited's shareholders' equity | $1.4B | $318.1M | ||
| Non-controlling interests | -$974.0K | -$271.0K | ||
| Total liabilities and shareholders' equity | $1.6B | $473.9M | ||
| Allowance for credit losses of accounts receivable | $1.5M | $1.3M | $1.0M | $1.4M |
| Allowance for current expected credit losses of due from related parties | $334.0K | $691.0K | ||
| Allowance for credit losses of prepayments and other current assets | $5.5M | $6.2M | $6.2M | $10.7M |
| Allowance for current expected credit losses of Due from related parties | $174.0K | $0 | ||
| Common stock, shares issued | 375.0M shares | 375.0M shares | ||
| Common stock, shares outstanding | 314.3M shares | 307.4M shares | ||
| Treasury stock, shares | 60.7M shares | 67.7M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $157.0M | $177.3M | $170.8M | $177.2M |
| Short-term investments | $148.2M | $110.2M | ||
| Accounts receivable, net (Allowance for current expected credit losses of US$1,258 and US$1,471 as of December 31, 2024 and 2025, respectively) | $68.4M | $32.7M | ||
| Inventories | $403.0K | $1.3M | ||
| Due from related parties (Allowance for current expected credit losses of US$691 and US$334 as of December 31, 2024 and 2025, respectively) | $12.8M | $31.5M | ||
| Prepayments and other current assets (Allowance for current expected credit losses and impairment of US$6,223 and US$5,516 as of December 31, 2024 and 2025, respectively) | $12.8M | $10.1M | ||
| Total current assets | $399.7M | $363.0M | ||
| Long-term investments | $1.1B | $30.6M | ||
| Deferred tax assets | $10.1M | $10.5M | ||
| Property and equipment, net | $54.8M | $55.4M | ||
| Operating lease assets | $1.9M | $450.0K | $575.0K | |
| Intangible assets, net | $32.7M | $8.3M | ||
| Goodwill | $39.2M | $20.8M | ||
| Due from a related party (Allowance for current expected credit losses of nil and US$174 as of December 31, 2024 and 2025, respectively) | $19.8M | |||
| Long-term prepayments and other assets | $2.3M | $5.3M | ||
| Restricted cash | $806.0K | $218.0K | ||
| Total assets | $1.6B | $473.9M | ||
| Accounts payable | $42.0M | $23.0M | ||
| Due to related parties | $8.0K | $17.0K | ||
| Contract liabilities, current portion | $43.1M | $39.9M | ||
| Income tax payable | $4.3M | $9.4M | ||
| Accrued liabilities and other payables | $81.3M | $52.1M | ||
| Short-term borrowings and current portion of long-term borrowings | $37.2M | $2.1M | ||
| Lease liabilities | $487.0K | $253.0K | ||
| Total current liabilities. | $208.4M | $126.7M | ||
| Contract liabilities | $1.6M | $458.0K | ||
| Deferred tax liabilities | $6.1M | $1.2M | ||
| Long-term borrowings | $38.4M | $27.1M | ||
| Other long-term payables | $3.5M | $480.0K | ||
| Lease liabilities | $1.3M | $161.0K | ||
| Total liabilities | $259.4M | $156.1M | ||
| Common shares (375,001,940 shares issued and 307,351,196 shares outstanding as of December 31, 2024; 375,001,940 shares issued and 314,277,001 shares outstanding as of December 31, 2025) | $78.0K | $77.0K | ||
| Treasury shares (67,650,744 shares and 60,724,939 shares as of December 31, 2024 and 2025, respectively) | $15.0K | $16.0K | ||
| Additional paid-in-capital | $480.1M | $477.2M | ||
| Statutory reserves | $9.7M | $8.7M | ||
| Accumulated other comprehensive loss | -$17.4M | -$21.7M | ||
| (Accumulated deficits)/retained earnings | $901.0M | -$146.3M | ||
| Total Xunlei Limited's shareholders' equity | $1.4B | $318.1M | ||
| Non-controlling interests | -$974.0K | -$271.0K | ||
| Total liabilities and shareholders' equity | $1.6B | $473.9M | ||
| Allowance for credit losses of accounts receivable | $1.5M | $1.3M | $1.0M | $1.4M |
| Allowance for current expected credit losses of due from related parties | $334.0K | $691.0K | ||
| Allowance for credit losses of prepayments and other current assets | $5.5M | $6.2M | $6.2M | $10.7M |
| Allowance for current expected credit losses of Due from related parties | $174.0K | $0 | ||
| Common stock, shares issued | 375.0M shares | 375.0M shares | ||
| Common stock, shares outstanding | 314.3M shares | 307.4M shares | ||
| Treasury stock, shares | 60.7M shares | 67.7M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income for the year | $1.0B | $663.0K | $14.3M |
| Depreciation of property and equipment | $5.0M | $4.7M | $4.4M |
| Amortization of intangible assets | $3.5M | $1.8M | $1.1M |
| Amortization of operating lease assets | $1.0M | $434.0K | $551.0K |
| Credit loss expenses/(write-back), net | -$262.0K | $288.0K | $100.0K |
| Losses/(gains) on disposal of property and equipment | $74.0K | -$82.0K | $1.0K |
| Gains on modification of operating leases | -$30.0K | -$33.0K | |
| Share-based compensation expenses | $3.8M | $2.5M | $9.7M |
| Net unrealized investment income from short-term investments | -$378.0K | -$1.1M | -$1.4M |
| Impairment of property and equipment | $0 | $0 | $1.1M |
| Impairment of intangible assets | $2.5M | ||
| Write-downs of inventories | $470.0K | $25.0K | |
| Impairment of goodwill | $20.7M | ||
| Impairment on long-term investments | $996.0K | $1.4M | $0 |
| Fair value changes on long-term investments | -$1.0B | ||
| Gains from disposal of long-term investments and subsidiaries | -$1.1M | -$861.0K | -$24.0K |
| Interest expense accrued on long-term payables | $93.0K | $93.0K | $93.0K |
| Deferred income taxes | -$2.9M | -$10.1M | -$428.0K |
| Accounts receivable | -$27.4M | -$2.0M | -$2.0M |
| Prepayments and other assets | -$3.9M | $290.0K | -$408.0K |
| Due from/to related parties | -$464.0K | $734.0K | -$1.7M |
| Accounts payable | $15.6M | -$1.5M | -$598.0K |
| Inventories | $387.0K | $925.0K | -$1.8M |
| Contract liabilities | $3.6M | $3.6M | -$2.0M |
| Income tax payable | -$5.7M | $3.1M | $904.0K |
| Accrued liabilities and other payables | $22.8M | $5.4M | $3.1M |
| Lease liabilities | $167.0K | -$25.0K | $618.0K |
| Net cash generated from operating activities | $32.5M | $31.0M | $25.7M |
| Purchase of short-term investments | -$601.8M | -$479.5M | -$378.2M |
| Proceeds from collection upon maturities of short-term investments | $566.3M | $470.2M | $360.7M |
| Purchase of property and equipment | -$5.3M | -$8.0M | -$4.0M |
| Purchase of intangible assets | -$447.0K | -$322.0K | -$499.0K |
| Payments for long-term investments | -$3.2M | -$3.1M | -$1.4M |
| Cash paid for a business combination, net of cash acquired | -$52.1M | -$2.1M | |
| Proceeds from disposal of property and equipment | $155.0K | $114.0K | $15.0K |
| Proceeds from disposal of long-term investments | $2.3M | $22.0K | |
| Repayment/(payment) of loans to employees | $396.0K | -$978.0K | -$599.0K |
| Loan to third parties | -$565.0K | ||
| Payments for disposal of subsidiaries | -$2.9M | ||
| Net cash used in investing activities | -$99.1M | -$21.9M | -$23.9M |
| Repurchase of common shares | -$951.0K | -$7.7M | -$4.7M |
| Proceeds from bank borrowings | $62.5M | $33.4M | $4.3M |
| Repayment of bank borrowings | -$16.1M | -$26.6M | -$13.1M |
| Net cash (used in)/generated from financing activities | $45.5M | -$925.0K | -$13.5M |
| Net (decrease)/increase in cash, cash equivalents and restricted cash | -$21.1M | $8.1M | -$11.7M |
| Effect of exchange rates on cash and cash equivalents, and restricted cash | $1.4M | -$1.4M | -$2.3M |
| Income tax paid | $4.2M | $4.2M | $2.5M |
| Interest paid | $1.2M | $578.0K | $1.4M |
| Purchase of property and equipment in form of other payables | $130.0K | $32.0K | $148.0K |
| Acquisition of operating lease assets | $1.6M | $324.0K | $275.0K |
| Addition of long-term investments in form of other payables | $2.4M | $696.0K | |
| Unpaid cash consideration for acquisition | $12.7M |
No quarter-by-quarter statement was filed.
Corporate structure
Xunlei Limited sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Xunlei Limited
- Itui International Inc. Filed SCHEDULE 13D/A on Xunlei Limited, latest Feb 4, 2026
- Shenglong Zou Filed SCHEDULE 13G/A on Xunlei Limited, latest Nov 14, 2025 (2 filings since Feb 11, 2022)
- Xiaomi Corp Filed SCHEDULE 13D/A on Xunlei Limited, latest Nov 14, 2025
- Morgan Stanley Filed SC 13G/A on Xunlei Limited, latest Feb 11, 2022
- Xunlei Limited George Town, Cayman Islands
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Xunlei Limited reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $79.3M6 Dec 31, 2025 | $76.1M6 Dec 31, 2024 | +4.2% |
| Accumulated depreciation | $23.3M6 Dec 31, 2025 | $19.5M6 Dec 31, 2024 | +19.6% |
| Property and equipment, net | $54.8M6 Dec 31, 2025 | $55.4M6 Dec 31, 2024 | −1.2% |
| Operating-lease assets (leased space) | $1.9M6 Dec 31, 2025 | $450.0K6 Dec 31, 2024 | +331.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $157.0M6 Dec 31, 2025 | $177.3M6 Dec 31, 2024 | −11.5% |
| Marketable securities, current | $148.2M6 Dec 31, 2025 | $110.2M6 Dec 31, 2024 | +34.4% |
| Long-term investments | $1.1B6 Dec 31, 2025 | $30.6M6 Dec 31, 2024 | +3398.8% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $39.2M6 Dec 31, 2025 | $20.8M6 Dec 31, 2023 | +88.1% |
| Intangible assets, net (excluding goodwill) | $32.7M6 Dec 31, 2025 | $8.3M6 Dec 31, 2024 | +293.8% |
| Finite-lived intangibles, gross | $48.7M6 Dec 31, 2025 | $18.1M6 Dec 31, 2024 | +169.0% |
| Accumulated amortization | $13.4M6 Dec 31, 2025 | $9.8M6 Dec 31, 2024 | +37.3% |
Inventory
Leadership
Who has led Xunlei Limited, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
- Chief executive officerJinbo Li Mar 17, 2026 to now15
- PresidentYubo Zhang Mar 17, 2026 to now16
- Chief financial officerNaijiang Zhou Mar 17, 2026 to now17
Products and brands
- Xunlei
Listed on Wikidata.1
Products
The Xunlei download manager, generally called Xunlei, is the flagship product of Xunlei Corporation and other desktop software. Xunlei is the most popular download software in China. Since 2017, StellarCloud, OneThing Cloud and ThunderChain have become important products of the corporation.
Xunlei
Through Xunlei, users can access a large portion of the files available on the Internet. Xunlei uses a technology called P2SP to speed up download. Features in Xunlei includes a built-in browser, changeable skins, cloud storage, "offline" downloading, hi-speed downloading (only available for members), email service and more. According to iResearch's report, as of March 2014, the cloud accelerates monthly active users of Xunlei reach 142 million (including approximately 5.2 million paid members), and has a market share of 81.4% in the cloud accelerated products and services market in China.
Xunlei is accompanied by a family of products including Xunlei 9, Mac Xunlei, Xunlei VIP Edition, and Xunlei Express Edition. As adware, Xunlei products feature banner advertisements, which can be disabled if logged in as a VIP user.
Nebula CDN
Nebula (Chinese: 星域; lit. 'asteroid field') CDN is a content delivery/distribution network (CDN) product which launched by Shenzhen Onething Technologies Co., Ltd, a wholly owned subsidiary of Xunlei, in June 2015. Different from traditional CDN, Nebula CDN make use of idle bandwidth that share by users. In order to participate in this plan, users can buy a network device (ZhuanQianBao or OneThing Cloud) from Xunlei. In return, Xunlei gives the user virtual token as a reward. As the civil broadband prices far below the broadband prices for enterprises in China, Nebula CDN's enterprise-side prices lower than its competitors. The business customers of Nebula CDN include Xiaomi, iQiyi, Momo, Insta360, Bilibili and Xunlei itself. In August 2017, Xunlei announced they received an official license of CDN operating from Ministry of industry and information industry of China.
Read the full text
StellarCloud
StellarCloud (Chinese: 星域云) is a shared cloud computing platform which expands Xunlei's existing content delivery network (CDN) services to Infrastructure as a Service (IaaS), offering edge computing, function computing and shared CDN (SCDN) solutions. StellarCloud is created to help companies in their transition to cloud, including content delivery, live streaming, data storage and artificial intelligence (AI). Supported by over 1.5 million computing nodes, StellarCloud can offer as much as 30T bandwidth capacity and 1500 PB storage capacity.
OneThing Cloud
OneThingCloud (Chinese: 玩客云), a private cloud designed for people who pursue high quality digital entertainment, provides people with quick download, instant storage and removing, file management, remote control, multimedia entertainment and other functions.
ThunderChain
In April 2018, Xunlei launched ThunderChain (Chinese: 迅雷链), a high-performance blockchain platform, which can concurrently conduct millions of transactions per second (TPS). Based on Xunlei's proprietary homogeneous multichain framework, ThunderChain is designed to realize confirmation and interaction among homogeneous chains and enable multiple transactions to be executed on different chains in parallel. An optimized practical Byzantine fault tolerance (PBFT) is adopted by ThunderChain as its consensus model which results in low latency and makes it possible to generate one block per second. PBFT, as a consistency algorithm, is also able to avoid soft fork. ThunderChain supports smart contracts written in solidity language and is compatible with Ethereum Virtual Machine (EVM), making it easy to migrate applications from other blockchain platforms.
ThunderChain File System
ThunderChain File System (TCFS), based on Xunlei's proprietary distributed technology and millions of shared computing nodes, is a distributed file system for data storage and authorized distribution. It is built specifically for blockchain platforms including ThunderChain and other platforms. Blockchain developers and enterprises can build decentralized applications (DApps) with distributed data storage and integration, possessing the improved capabilities in openness, transparency, non-temper ability, traceability, reliability, security and encryption, mass storage and authorization.
Xunlei Kankan
Xunlei Kankan, also known as Kankan, is a video-on-demand service with a web interface as well as a client application. Xunlei Kankan is also available on mobile platforms including Android and iOS (including iPhone and Kankan HD for iPad). In 2015, Xunlei sold its entire stake in Xunlei Kankan to Beijing Nesound International Media Corp., Ltd. for a total consideration of RMB 130 million.
Others
In addition to the above products, the company also produces software such as a media player, a game accelerator, a live streaming video platform and online games.
Facilities
Headquarters and offices
Xunlei Building, the new headquarters building of Xunlei, is under construction and expected to be completed in 2020. Xunlei Building is located in Shenzhen Nanshan District, adjacent to Shenzhen Metro Line 1 and Line 2. The building has 30 floors, and the total construction area of the building is about 65,000 square meters.
From Wikipedia’s article on Xunlei, shared under CC BY-SA 4.0.8
Controversies and legal
Concerns and criticisms
LinkToken
LinkToken, formerly known as OneCoin, is one kind of virtual token issued by Xunlei, and this token must be obtained through the sharing of user's network bandwidth, storage space or other resources. Xunlei said this token can be used to pay for network acceleration services, cloud storage services and other internet content. The company explained that the digital token would allow transparent bookkeeping for the computing resources that users share on the company's cloud platform.
On account of the prohibition of virtual currency trading and initial coin offering (ICO) in China, Xunlei declare that LinkToken does not constitute an ICO and it cannot be purchased or traded in cash, and the company has issued lawyer's letters to third-party trading platforms, requiring them to stop LinkToken trading activities. Nevertheless, the trading price of the token still rose 30 times in a month on some unofficial trading platforms, and some critics assert that the token is too speculative and may face some regulatory risks.
On 17 September 2018, Xunlei entered into a strategic partnership with Newland Hi-Tech Group Co., Ltd. In connection with the Strategic Partnership, Xunlei also entered into a series of transactions with Beijing LinkChain Co., Ltd., 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).
File sharing
Xunlei is different from P2P tools in that it does not support active file sharing. While copyright advocates view Xunlei as a P2P tool that facilitates copyright violation, P2P advocates criticize Xunlei as a leech with much more downloading than uploading. Also it is often observed that Xunlei prioritizes file sharing with Xunlei users rather than other client users. Many pure P2P tools have blocked Xunlei, although this trend weakened after Xunlei began balancing the number of downloads and uploads.
Xunlei sets up its own storage servers to backup the files which are not active or shared any longer. This feature is named as High-Speed Channel and allows Xunlei users retrieve data faster than others. But only purchased users have rights to access to these servers and download files.
From Wikipedia’s article on Xunlei, shared under CC BY-SA 4.0.8
Timeline
Calendar
Coming up
- Nov 12, 2026Reports results for the quarter ending Sep/202622
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
75 filings to the SEC since October 2021: 5 annual reports, 8 insider forms, 5 large holders, 57 other. The latest 20:
- Aug 13, 20266-K EDGAR
- Jun 26, 20266-K EDGAR
- May 28, 20266-K EDGAR
- Apr 28, 202620-F EDGAR
- Mar 17, 20263 OWNERSHIP DOCUMENT EDGAR
- Mar 17, 20263 OWNERSHIP DOCUMENT EDGAR
- Mar 17, 20263 OWNERSHIP DOCUMENT EDGAR
- Mar 17, 20263 OWNERSHIP DOCUMENT EDGAR
- Mar 17, 20263 OWNERSHIP DOCUMENT EDGAR
- Mar 17, 20263 OWNERSHIP DOCUMENT EDGAR
- Mar 17, 20263 OWNERSHIP DOCUMENT EDGAR
- Mar 16, 20266-K EDGAR
- Mar 12, 20266-K EDGAR
- Mar 9, 20263 OWNERSHIP DOCUMENT EDGAR
- Mar 3, 20266-K EDGAR
- Feb 4, 2026SCHEDULE 13D/A EDGAR
- Nov 14, 2025SCHEDULE 13D/A EDGAR
- Nov 14, 2025SCHEDULE 13G/A EDGAR
- Nov 13, 20256-K EDGAR
- Sep 12, 20256-K EDGAR
The 75 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Itui International Inc.SCHEDULE 13D/A, 1 filing Feb 4, 202623
- Shenglong ZouSCHEDULE 13G/A, 2 filings Feb 11, 2022 to Nov 14, 202524
- Xiaomi CorpSCHEDULE 13D/A, 1 filing Nov 14, 202525
- Morgan StanleySC 13G/A, 1 filing Feb 11, 202226
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 52. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Xunlei Limited is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARXunlei Ltd2
- CIK0001510593
- Filer statusAccelerated filer not an emerging growth company; not a shell company27
- Incorporated inCayman Islands27
- Industry code (SIC)7372 Services-Prepackaged Software2
- SEC reviewing officeOffice of Technology, Division of Corporation Finance2
- Business address3709 Baishi Road, Nanshan District, Shenzhen, 518000, China2
- Phone86-755 6111-15712
- Shares outstanding314,277,001 shares as of Dec 31, 202527
- AuditorPricewaterhouseCoopers Zhong Tian LLP, Shenzhen, the People’s Republic of China PCAOB ID 1424; it also attests to the company’s internal control over financial reporting27
- On EDGAR sinceJun 8, 20112
- Filings212 in all: 6-K (91), SC 13G/A (22), CORRESP (13), 20-F (12), UPLOAD (12), SC 13G (9), 3 (8), F-1/A (6)2
All 29 form types
DRSLTR (4), EFFECT (4), S-8 (4), CERTNAS (3), DRS/A (3), 8-A12B (2), F-1 (2), F-6 (2), SC 13D (2), SCHEDULE 13D/A (2), 144 (1), 15-12B (1), 20-F/A (1), 25 (1), 424B4 (1), 6-K/A (1), 8-A12B/A (1), DRS (1), FWP (1), RW (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (20-F) Apr 28, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| American depositary shares | XNET | Nasdaq |
| Common shares, par valueUS$0.00025 per share | XNET | Nasdaq |
From the cover page of the 20-F filed Apr 28, 2026 (Section 12(b) of the Exchange Act).27
Links
- Websitewww.xunlei.com1
- WikipediaXunlei
- WikidataQ15915960
- SEC EDGARCIK 1510593
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataXunlei Limited on Wikidata
- 2SEC EDGARXunlei Limited filings on SEC EDGAR
- 3WikipediaXunlei Limited on Wikipedia
- 4
- 5Wikimedia CommonsXunlei Limited logo by http://xunlei.com/, Non-free logo
- 6SEC EDGARXunlei Limited 10-K for fiscal 2025
- 7SEC EDGARXunlei Limited filings on SEC EDGAR
- 8
- 9SEC EDGARXunlei Limited 10-K for fiscal 2018
- 10SEC EDGARXunlei Limited 10-K for fiscal 2019
- 11SEC EDGARXunlei Limited 10-K for fiscal 2020
- 12SEC EDGARXunlei Limited 10-K for fiscal 2021
- 13SEC EDGARXunlei Limited 10-K for fiscal 2022
- 14SEC EDGARXunlei Limited 10-K for fiscal 2018
- 15SEC EDGARJinbo Li, Chief executive officer
- 16SEC EDGARYubo Zhang, President
- 17
- 18SEC EDGARHe Huang, Board member
- 19SEC EDGARHui Duan, Board member
- 20SEC EDGARPeng Shi, Board member
- 21SEC EDGARWenjie Wu, Board member
- 22NasdaqNasdaq calendar
- 23
- 24
- 25
- 26
- 27