Xunlei sells majority stake in Shenzhen Onething

Xunlei Limited has completed the previously announced disposition of a majority equity interest in its subsidiary Shenzhen Onething Technology.

Rhea-AI Filing Summary

Xunlei Limited has completed the previously announced disposition of a majority equity interest in its subsidiary Shenzhen Onething Technology. Xunlei’s variable interest entity, Shenzhen Xunlei Networking Technologies, transferred a 20% equity interest in Shenzhen Onething to Wuhan Kingsoft Cloud Information Technology for cash consideration of RMB50 million and a 30% equity interest to Shenzhen Xinghan Zhilian Technology for cash consideration of RMB75 million, both amounts inclusive of tax.

After the transaction, Shenzhen Xunlei retains a 20% equity stake in Shenzhen Onething, allowing Xunlei to remain a minority shareholder. The company states that this transaction is expected to optimize its resource allocation and business portfolio while still enabling participation in Shenzhen Onething’s potential future growth.

Insights

Equity analyst

Xunlei monetizes a majority stake in Shenzhen Onething while keeping a 20% minority interest.

Xunlei has closed the sale of 50% of Shenzhen Onething, with Shenzhen Xunlei transferring 20% to Wuhan Kingsoft Cloud for RMB50 million and 30% to Shenzhen Xinghan Zhilian for RMB75 million, both inclusive of tax. The structure leaves Shenzhen Xunlei holding 20% of Shenzhen Onething.

The company describes the deal as a way to optimize its resource allocation and business portfolio, indicating a strategic reshaping rather than a full exit. Retaining a minority stake means Xunlei can still benefit if Shenzhen Onething grows, while realizing immediate cash proceeds.

The filing does not quantify Shenzhen Onething’s contribution to overall results, so the impact on Xunlei’s financial profile is hard to gauge from this disclosure alone. Future filings covering periods after March 16, 2026 will show how the reduced ownership and cash inflows affect revenue mix and profitability.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transaction did Xunlei (XNET) announce regarding Shenzhen Onething?

Xunlei announced completion of a disposition of a majority equity interest in Shenzhen Onething Technology. Its variable interest entity, Shenzhen Xunlei Networking Technologies, sold two equity blocks totaling 50%, converting part of its ownership into cash while remaining a minority shareholder.

Who bought Shenzhen Onething shares from Xunlei and on what terms?

Shenzhen Xunlei transferred 20% of Shenzhen Onething to Wuhan Kingsoft Cloud Information Technology for cash consideration of RMB50 million, inclusive of tax. It also transferred 30% to Shenzhen Xinghan Zhilian Technology for cash consideration of RMB75 million, inclusive of tax, completing the majority-stake sale.

How much of Shenzhen Onething does Xunlei retain after the transaction?

After closing the transaction, Shenzhen Xunlei retains a 20% equity interest in Shenzhen Onething. This means Xunlei has sold control but continues as a minority owner, allowing it to participate in any future growth of Shenzhen Onething through its remaining stake.

Why did Xunlei dispose of a majority stake in Shenzhen Onething?

Xunlei states that the transaction is expected to optimize its resource allocation and business portfolio. By selling a majority stake while keeping a 20% interest, the company seeks a better strategic focus yet still maintains exposure to Shenzhen Onething’s potential future development.

When did Xunlei’s Shenzhen Onething transaction close?

Xunlei reported on March 16, 2026, that all conditions precedent to the Shenzhen Onething equity disposition had been satisfied and the transaction had successfully closed. That date marks completion of the majority-stake sale and the start of Xunlei’s new minority-ownership position.

What risks did Xunlei highlight in connection with this transaction?

Xunlei’s forward-looking statements emphasize general business risks, including innovation, user growth, competition, regulatory scrutiny, and health-related disruptions. It cautions that expectations about strategic, operational, disposition and acquisition plans, including this transaction, may differ materially from actual future results.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/16/2026 - 08:30 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2026

Commission File Number: 001-35224

Xunlei Limited

3709 Baishi Road

Nanshan District, Shenzhen, 518000

The People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x                   Form 40-F ¨

Exhibit Index

Exhibit 99.1—Press Release— Xunlei Limited Announces Completion of Disposition of Majority Equity Interest in Shenzhen Onething

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Xunlei Limited
	By:	/s/ Naijiang (Eric) Zhou
	Name:	Naijiang (Eric) Zhou
	Title:	Chief Financial Officer

Date: March 16, 2026

Exhibit 99.1

Xunlei Limited Announces Completion of Disposition of Majority Equity Interest in Shenzhen Onething

SHENZHEN, China, March 16, 2026 — Xunlei Limited (“Xunlei” or the “Company”) (Nasdaq: XNET), a leading technology company providing distributed cloud services in China, today announced that all conditions precedent to the disposition of a majority equity interest in Shenzhen Onething Technology Co., Ltd. (“Shenzhen Onething”), as previously announced on March 3, 2026 (the “Transaction”), have been satisfied and accordingly, the Transaction has successfully closed.

The Company’s variable interest entity in China, Shenzhen Xunlei Networking Technologies Co., Ltd. (“Shenzhen Xunlei”), 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 (inclusive of tax), and to Shenzhen Xinghan Zhilian Technology Co., Ltd., for a cash consideration of RMB75 million (inclusive of tax), 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.

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,” “believes,” “estimates” and similar statements. Among other things, the Company’s business outlook, the Company’s strategic, operational, disposition, and acquisition plans, and plans and other applicable descriptions concerning the Transaction, 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 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, 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

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 7.3 KB