Itui group details 42.3% Xunlei Ltd (NASDAQ: XNET) ownership stake

Rhea-AI Filing Summary

Itui International Inc., Itui Ltd and Jinbo Li report beneficial ownership of 133,018,479 Xunlei Ltd common shares, representing 42.3% of the company’s outstanding common share class. This percentage is calculated using 314,277,001 total outstanding common shares as of December 31, 2025.

All three reporting persons are shown with shared voting and dispositive power over the same 133,018,479 common shares and no sole voting or dispositive power. This Schedule 13D/A Amendment No. 1 also updates background information on related persons and incorporates an exhibit listing directors and executive officers of the reporting entities.

Insights

Equity ownership and governance analyst

Filing shows a coordinated group holding 42.3% of Xunlei’s common shares with shared control rights.

The filing states that Itui International Inc., Itui Ltd and Jinbo Li together beneficially own 133,018,479 Xunlei common shares, or 42.3% of the class, based on 314,277,001 shares outstanding as of December 31, 2025. Each reporting person has shared, but not sole, voting and dispositive power over these shares.

This level of beneficial ownership suggests substantial influence over shareholder decisions, given the shared voting power across the three reporting persons. The amendment also refreshes identifying information on related persons via Exhibit 99.7, indicating continued coordination among these holders. Subsequent company disclosures may further describe how this ownership position interacts with board roles and governance arrangements.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Xunlei Ltd

(Name of Issuer)

Common Shares, par value $0.00025 per share

(Title of Class of Securities)

98419E108

(CUSIP Number)

Itui International Inc.
Units 1005-1013 & 1019, 10/F, Bldg 2, No.16 Courtyard, E Panxiaoyue River Rd
Beijing, F4, 100089
86 10 53608286

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

12/31/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 98419E108

1

Name of reporting person

Itui International Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 133,018,479.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 133,018,479.00

11

Aggregate amount beneficially owned by each reporting person

133,018,479.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

42.3 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Row 13 is calculated based on 314,277,001 total outstanding Common Shares as of December 31, 2025, to our best knowledge.

SCHEDULE 13D

CUSIP No. 98419E108

1

Name of reporting person

Itui Ltd.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 133,018,479.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 133,018,479.00

11

Aggregate amount beneficially owned by each reporting person

133,018,479.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

42.3 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Row 13 is calculated based on 314,277,001 total outstanding Common Shares as of December 31, 2025, to our best knowledge.

SCHEDULE 13D

CUSIP No. 98419E108

1

Name of reporting person

Jinbo Li

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 133,018,479.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 133,018,479.00

11

Aggregate amount beneficially owned by each reporting person

133,018,479.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

42.3 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Row 13 is calculated based on 314,277,001 total outstanding Common Shares as of December 31, 2025, to our best knowledge.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, par value $0.00025 per share
(b)	Name of Issuer: Xunlei Ltd
(c)	Address of Issuer's Principal Executive Offices: 3709 Baishi Road, Nanshan District, Shenzhen, CHINA , 518000.
Item 1 Comment: This Amendment No. 1 (this ''Amendment'') amends the statement on Schedule 13D filed by the Reporting Persons on April 24, 2020 (the "Schedule 13D"). Capitalized terms used herein and not otherwise defined have the respective meanings ascribed to them in the Schedule 13D.
Item 2.	Identity and Background
(a)	Item 2(a) of the Schedule 13D is hereby amended by restating the last paragraph with below: The name, citizenship, occupation and principal business address of Related Persons as of the date of this Amendment No.1 are listed in Exhibit 99.7 hereto, which is incorporated herein by reference.
(b)	Item 2(b) of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 2(a) of this Amendment No. 1 is hereby incorporated herein by reference.
(c)	Item 2(c) of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 2(a) of this Amendment No. 1 is hereby incorporated herein by reference.
(f)	Item 2(f) of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 2(a) of this Amendment No. 1 is hereby incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 Joint Filing Agreement (incorporated herein by reference to Exhibit 99.1 to the Schedule 13D filed on April 24, 2020 by the Reporting Persons with the Securities and Exchange Commission) Exhibit 99.7 Directors and Executive officers of the Reporting Persons

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Itui International Inc.

Signature:	/s/ Jinbo Li
Name/Title:	Chairman of the Board of Directors and Chief Executive Officer
Date:	02/04/2026

Itui Ltd.

Signature:	/s/ Jinbo Li
Name/Title:	Director
Date:	02/04/2026

Jinbo Li

Signature:	/s/ Jinbo Li
Name/Title:	Jinbo Li
Date:	02/04/2026

FAQ

How many Xunlei Ltd (XNET) shares do the reporting persons beneficially own?

The reporting persons beneficially own 133,018,479 Xunlei Ltd common shares. The filing shows this same amount for Itui International Inc., Itui Ltd, and Jinbo Li, all with shared voting and shared dispositive power over these shares, and no sole voting or dispositive authority.

What percentage of Xunlei Ltd’s common shares is held by the reporting group in this Schedule 13D/A?

The reporting group holds 42.3% of Xunlei Ltd’s common share class. This percentage is calculated using 314,277,001 total outstanding common shares as of December 31, 2025, according to the filing’s ownership table and the accompanying explanatory comment for Row 13.

Who are the reporting persons in the Xunlei Ltd (XNET) Schedule 13D/A Amendment No. 1?

The reporting persons are Itui International Inc., Itui Ltd, and Jinbo Li. Each is listed with identical beneficial ownership of 133,018,479 common shares and shared voting and dispositive power. Their respective jurisdictions are the Cayman Islands, the British Virgin Islands, and China, as disclosed in the ownership tables.

How is the 42.3% ownership in Xunlei Ltd calculated in this filing?

The 42.3% figure is based on 314,277,001 total outstanding Xunlei common shares as of December 31, 2025. The filing explains that Row 13’s percentage is derived using this outstanding share count, to the reporting persons’ best knowledge, for the class of common shares described.

What voting and dispositive powers over Xunlei Ltd shares are reported by Itui and Jinbo Li?

The filing reports zero sole voting and sole dispositive power for each reporting person. Instead, Itui International Inc., Itui Ltd, and Jinbo Li each have shared voting power and shared dispositive power over 133,018,479 Xunlei common shares, reflecting coordinated control over this ownership block.

What amendments does Schedule 13D/A Amendment No. 1 make regarding Xunlei Ltd (XNET)?

Amendment No. 1 updates sections of the original Schedule 13D, particularly Item 2. It restates the paragraph describing related persons and incorporates Exhibit 99.7, which lists directors and executive officers of the reporting persons, while keeping the beneficial ownership figures and percentages clearly stated.