Xunlei Announces Cooperation to Offer Joint Cloud Storage Services

Rhea-AI Summary

Xunlei Limited (Nasdaq: XNET) announced a partnership with Shijilong Information Network on November 6, 2020, to develop joint cloud storage services. This collaboration will integrate Xunlei's 'Xunlei Space' with Shijilong's e-Surfing Cloud Storage, enabling coverage of both public and private cloud services. The companies plan to introduce a joint membership program, allowing simultaneous user access to both services. This initiative marks the beginning of broader collaboration aimed at resource sharing and mutual benefits.

Positive

• Establishment of a partnership with Shijilong to enhance cloud storage services.
• Integration of Xunlei Space with e-Surfing Cloud Storage, expanding service offerings.
• Introduction of a joint membership program for users to access multiple cloud services.

Negative

• None.

SHENZHEN, China, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq: XNET), a leading innovator of shared cloud computing and blockchain technology in China, today announced that the Company established cooperation with Shijilong Information Network Co., Ltd. (“Shijilong”, http://www.21cn.com/) on November 6, 2020 to develop joint cloud storage services. Shijilong is a wholly-owned subsidiary of China Telecom.

According to this cooperation, Xunlei will leverage its technological expertise by providing e-Surfing Cloud Storage, the cloud storage product run by Shijilong, with “Xunlei Space” services, a public cloud product. The cooperation will enable e-Surfing Cloud Storage to cover both public cloud and private cloud services. As part of the cooperation, the parties intend to launch a joint membership program, under which users will have simultaneous access to both of their cloud storage services.

The cooperation represents a first step for the parties to develop collaboration in their product portfolios. And the parties intend to explore other consumer-related products to achieve resource sharing and mutual benefits.

About Xunlei

Founded in 2003, Xunlei Limited (NASDAQ: XNET) is a leading innovator in shared cloud computing and blockchain technology in China. Xunlei provides a wide range of products and services across cloud acceleration, blockchain, 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," "believes," "estimates" and similar statements. Among other things, the management's quotations, the "Outlook" and "Guidance" sections 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 risk that COVID-19 or other health risks in China or globally could adversely affect the Company's operations or financial results; 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

FAQ

What is the recent partnership announced by Xunlei Limited?

Xunlei Limited announced a partnership with Shijilong Information Network on November 6, 2020, to develop joint cloud storage services.

What services will Xunlei and Shijilong offer in their collaboration?

They will offer an integrated service combining Xunlei's 'Xunlei Space' with Shijilong's e-Surfing Cloud Storage, covering both public and private cloud solutions.

What is the significance of the joint membership program introduced by Xunlei?

The joint membership program will allow users access to both Xunlei and Shijilong's cloud storage services simultaneously.

When was the partnership between Xunlei and Shijilong established?

The partnership was established on November 6, 2020.

What potential benefits does the collaboration between Xunlei and Shijilong aim to achieve?

The collaboration aims for resource sharing and mutual benefits in developing their product portfolios.