×

Xunlei Announces Strategic Partnership With iQIYI on Project Crystal

SHENZHEN, China, July 24, 2015 (GLOBE NEWSWIRE) -- Xunlei Limited ("Xunlei" or the "Company") (Nasdaq:XNET), China's leading provider of acceleration products and services, today announced a strategic partnership with iQIYI, a leading online video streaming services provider in China, whereby Xunlei's Project Crystal will provide crowd-sourced bandwidth services to iQIYI.

Project Crystal is an ongoing project involving technology innovation in crowd-sourcing idle bandwidth and potentially storage from Xunlei's user base, by providing crowd-sourced bandwidth without investing in hard assets. This project grew from Xunlei's traditional technology for Xunlei Accelerator. Project Crystal, under the trademark Nebula CDN, allows video users to enjoy smooth video viewing experiences in various complex network environments and enables internet content providers to increase the stability and security of their services and to reduce operating costs.

"This partnership with iQIYI is a major milestone for Project Crystal, in terms of product development, market acceptance and its competitive value proposition. The size and geographic diversity of iQIYI's user base, the complexity of iQIYI's video streaming services and its planned adoption of crowd-sourced bandwidth from Project Crystal are a testimony to both Project Crystal's maturing technology and increasing value proposition. We look forward to our cooperation with iQIYI and other internet content providers in China," said Mr. Sean Zou, Chairman and Chief Executive Officer of Xunlei.

About Xunlei

Xunlei Limited ("Xunlei") is the No. 1 acceleration product provider in China as measured by market share in March 2015, according to iResearch. 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.

About iQIYI

iQIYI, a pioneer in online video services in China, was established in April 2010 to promote the spirit of "Joy & Quality." iQIYI has successfully built an online video ecosystem that includes e-commerce, game, and movie ticketing, building key connections between people and services and developing a diverse video website business model.

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, management's quotations and statements regarding 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; 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: IR Contact: Xunlei Limited Email: ir@xunlei.com Tel: +86 755 33912907 Website: http://www.xunlei.com/about/

Source:Xunlei Limited