Xunlei Announces Change of Depositary
Xunlei (Nasdaq: XNET), a leading technology company providing distributed cloud services in China, has announced the appointment of JPMorgan Chase Bank, N.A. as its new successor depositary for the company's American Depositary Receipt (ADR) program, effective December 31, 2024.
The company has entered into an amended and restated deposit agreement with J.P. Morgan, replacing the previous agreement. A registration statement on Form F-6 has been filed with the SEC, including the amended agreement as an exhibit. ADR holders are not required to take any action regarding this change.
Xunlei (Nasdaq: XNET), una delle principali aziende tecnologiche che forniscono servizi cloud distribuiti in Cina, ha annunciato la nomina di JPMorgan Chase Bank, N.A. come nuovo depositario successore per il programma di American Depositary Receipt (ADR) della società, a partire dal 31 dicembre 2024.
La società ha stipulato un contratto di deposito modificato e riassunto con J.P. Morgan, sostituendo il contratto precedente. Una dichiarazione di registrazione sul modulo F-6 è stata presentata alla SEC, includendo l'accordo modificato come allegato. I titolari di ADR non sono tenuti a intraprendere alcuna azione riguardo a questo cambiamento.
Xunlei (Nasdaq: XNET), una de las principales empresas tecnológicas que proporciona servicios de nube distribuidos en China, ha anunciado el nombramiento de JPMorgan Chase Bank, N.A. como nuevo depositario sucesor para el programa de American Depositary Receipt (ADR) de la empresa, que entrará en vigor el 31 de diciembre de 2024.
La empresa ha celebrado un contrato de depósito modificado y actualizado con J.P. Morgan, reemplazando el acuerdo anterior. Se ha presentado una declaración de registro en el formulario F-6 ante la SEC, incluyendo el acuerdo modificado como un anexo. Los tenedores de ADR no están obligados a tomar ninguna acción con respecto a este cambio.
Xunlei (Nasdaq: XNET), 중국에서 분산 클라우드 서비스를 제공하는 선도적인 기술 회사는 JPMorgan Chase Bank, N.A.를 회사의 미국 예탁 증서(ADR) 프로그램의 새로운 후임 수탁자로 임명했다고 발표했습니다. 이 임명은 2024년 12월 31일부터 시행됩니다.
회사는 J.P. Morgan과 수정된 및 개정된 예탁 계약을 체결하였으며, 이전 계약을 대체합니다. 수정된 계약을 부록으로 포함한 F-6 양식의 등록신청서가 SEC에 제출되었습니다. ADR 보유자는 이 변경에 대해 어떤 조치를 취할 필요가 없습니다.
Xunlei (Nasdaq: XNET), une entreprise technologique de premier plan fournissant des services de cloud distribué en Chine, a annoncé la nomination de JPMorgan Chase Bank, N.A. en tant que nouveau dépositaire successeur pour le programme de receipts américains (ADR) de la société, avec effet au 31 décembre 2024.
La société a conclu un nouvel accord de dépôt modifié et révisé avec J.P. Morgan, remplaçant l'accord précédent. Une déclaration d'enregistrement sur le formulaire F-6 a été déposée auprès de la SEC, y compris l'accord modifié en tant qu'annexe. Les titulaires d'ADR ne sont pas tenus de prendre des mesures concernant ce changement.
Xunlei (Nasdaq: XNET), ein führendes Technologieunternehmen, das in China verteilte Cloud-Dienste anbietet, hat die Ernennung von JPMorgan Chase Bank, N.A. als neuen Nachfolge-Depositar für das American Depositary Receipt (ADR)-Programm des Unternehmens bekannt gegeben, wirksam ab dem 31. Dezember 2024.
Das Unternehmen hat mit J.P. Morgan eine geänderte und neu gefasste Einlagenvereinbarung getroffen, die die vorherige Vereinbarung ersetzt. Eine Registrierungsmitteilung auf dem Formular F-6 wurde bei der SEC eingereicht, in der die geänderte Vereinbarung als Anhang enthalten ist. ADR-Inhaber sind nicht verpflichtet, in Bezug auf diese Änderung Maßnahmen zu ergreifen.
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Insights
The appointment of J.P. Morgan as the successor depositary for Xunlei's ADR program represents a standard administrative change in the company's depositary infrastructure. While this transition is procedurally important, it has minimal direct impact on investors or the company's operational performance. The filing of Form F-6 with the SEC ensures regulatory compliance and transparency, but doesn't materially affect the company's business fundamentals or stock valuation.
For retail investors, this change is largely administrative - ADR holders require no action and their ownership rights remain unchanged. J.P. Morgan's extensive experience in depositary services since 1927 suggests reliable program administration going forward. The only potential subtle benefit might be J.P. Morgan's broader global reach and modern infrastructure, which could marginally improve ADR liquidity and trading efficiency.
SHENZHEN, China, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq: XNET), a leading technology company providing distributed cloud services in China, today announced that it has appointed JPMorgan Chase Bank, N.A. (“J.P. Morgan”) as the successor depositary for the Company’s American Depositary Receipt (the “ADR”) program, effective from December 31, 2024.
The Company has also entered into an amended and restated deposit agreement with J.P. Morgan to replace the previous deposit agreement. A registration statement on Form F-6 has been filed with the Securities and Exchange Commission in connection with the change of depositary and the form of the amended and restated deposit agreement is filed as an exhibit to the Form F-6.
Holders of the Xunlei’s ADRs or American depositary shares issued in the ADR program are not required to take any action in connection with the change of depositary.
J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. J.P. Morgan has been a leading provider of customized depositary receipt solutions to the world’s largest issuers since 1927.
About Xunlei
Founded in 2003, Xunlei Limited (Nasdaq: XNET) is a leading technology company providing distributed cloud services in China. Xunlei provides a wide range of products and services across cloud acceleration, shared cloud computing and digital entertainment to deliver an efficient, smart and safe internet experience.
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," "estimates" and similar statements. Among other things, the management's quotes in this press release, as well as the Company's strategic, operational and acquisition plans, 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.
Investor Relations
Xunlei Limited
Email: ir@xunlei.com
Tel: +86 755 6111 1571
Website: http://ir.xunlei.com
FAQ
When will JPMorgan become Xunlei's (XNET) new ADR depositary?
Do Xunlei (XNET) ADR holders need to take any action due to the depositary change?
What regulatory filings has Xunlei (XNET) made regarding the depositary change?
What changes were made to Xunlei's (XNET) deposit agreement?
