Market Overview

Xunlei Establishes Joint Laboratory with HKUST to Drive Innovation and Applications of Blockchain Technology

Share:

SHENZHEN, China, June 17, 2019 (GLOBE NEWSWIRE) -- Xunlei Limited ("Xunlei" or the "Company") (NASDAQ:XNET), a leading innovator in shared cloud computing and blockchain technology, today announced that the Company and The Hong Kong University of Science and Technology ("HKUST") have established HKUST-Xunlei Joint Laboratory on Blockchain Technology (the "Joint Lab"). The Joint Lab aims to develop cutting-edge and influential blockchain technologies that are applicable to various industries and establish a high-performance blockchain ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area.
 
A signing ceremony was held at HKUST Campus today to officially launch the operation of the Joint Lab and research collaboration. Professor Tim Cheng, the Dean of the Faculty of Engineering of HKUST, and Ms. Xin Lai, the Chief Engineer of ThunderChain at Xunlei signed the collaborative agreement, witnessed by Professor Nancy IP, the Vice President for Research and Development of HKUST and Mr. Lei Chen, the Chief Executive Officer of Xunlei and Shenzhen Onething Technologies Co., Ltd., one of our major operating entities in China.
 
By leveraging HKUST's strong research capabilities and Xunlei's solid industry experience, a series of blockchain technology initiatives and development will be carried out under the Joint Lab. Key research topics include consensus algorithm, cryptography and data protection. With Xunlei's infrastructure support of ThunderChain and Thunder Chain File System (TCFS), HKUST's world-class researchers and Xunlei's technology experts will work together on a joint research project to improve existing consensus algorithm and explore new models, enabling individual users to share idle computing resources with small-sized hardware while establishing an overall blockchain system with higher security level so as to achieve sharing economy of computing network.
 
HKUST is a world-class research university that focuses on science, technology and business as well as humanities and social science. HKUST offers an international campus, and a holistic and interdisciplinary pedagogy to nurture well-rounded graduates with global vision, a strong entrepreneurial spirit and innovative thinking. HKUST attained the highest proportion of internationally excellent research work in the Research Assessment Exercise 2014 of Hong Kong's University Grants Committee, and is ranked as the world's best young university in Times Higher Education's Young University Rankings 2018. Its graduates were ranked 16th worldwide and top in Greater China in Global Employability University Survey 2018.
 
Professor Tim Cheng said: "HKUST strives to achieve pioneering research and promotes technological innovation. Through the establishment of this Joint Lab, not only will it facilitate academic exchange and industry collaboration, it will also bring more learning opportunities for our students to equip with the advanced blockchain technologies and knowledge, contributing to the development of future technology talents."
 
Mr. Lei Chen, Chief Executive Officer of Xunlei, concluded: "We are very excited to partner with world-leading institutions like HKUST to explore use cases of blockchain and translate these insights into impactful applications, together contributing to technological and economic development. We also hope young generation will join us in this endeavor to make blockchain technology widely used and working for a better future."
 
About Xunlei

Founded in 2003, Xunlei Limited (NASDAQ:XNET) is a leading innovator in shared cloud computing and blockchain technology. 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," "estimates" and similar statements. Among other things, the management's quotations 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. 

Contact: 

Investor Relations
Xunlei Limited
Email: ir@xunlei.com
Tel: +86 755 8633 8443
Website: http://ir.xunlei.com

282529224901463569.jpg

View Comments and Join the Discussion!