Xunlei Limited (XNET) - NASDAQ
  • Thu, Apr. 7, 12:45 PM
    | Thu, Apr. 7, 12:45 PM | 1 Comment
  • Thu, Mar. 10, 5:20 PM
    • Xunlei Limited (XNET +2.2%) marked a wider loss in its Q4 results as subscription revenues dropped Y/Y and sequentially.
    • The company pointed to progress in its cloud computing business (Project Crystal, up 33.9%) and mobile Internet advertising.
    • Total revenues of $35.1M were down 1.1% Y/Y. Online ad revenues of $1.7M were up 23.9%; Internet value-added services were up 24.3% to $13.6M. As noted, subscription revenues fell 14.6% to $19.8M, mainly driven by a decline in average revenue per subscriber as subscribers increased to 5.02M from Q3's 4.94M.
    • Cash and equivalents and short-term investments came to $432.1M at year-end.
    • For Q1, it's guiding to revenues of $35M-$38M (a Y/Y gain of 20.9% at the midpoint).
    • Conference call to come tomorrow at 8 a.m. ET.
    • Press Release
    | Thu, Mar. 10, 5:20 PM
  • Tue, Feb. 16, 11:10 AM
    • Many beaten-up Chinese tech names are up strongly on a morning the Nasdaq is up 1%. The gains comes after the Shanghai and Shenzhen exchanges respectively rose 3.3% and 4.1% overnight; strong new loan data and PBOC cash-removal efforts helped.
    • Alibaba (BABA +6.7%) is one today's standouts, and that naturally means Yahoo (YHOO +5.8%), which (for now) is still pursuing a reverse spinoff of its core business to better monetize its 384M-share Alibaba stake, is also posting big gains. Fellow Chinese e-commerce firms JD.com (JD +7.6%), Vipshop (VIPS +7.9%), LightInTheBox (LITB +6.7%), and Dangdang (DANG +8.3%) are also doing well.
    • Other big gainers include Weibo (WB +9.5%), Momo (MOMO +16.8%), Leju (LEJU +9.4%), NetEase (NTES +6.7%), Changyou (CYOU +6.5%), Bitauto (BITA +8.9%), 58.com (WUBA +6.8%), Cheetah Mobile (CMCM +5.8%), NQ Mobile (NQ +5.4%), 500.com (WBAI +5.6%), Baozun (BZUN +6.7%), and Xunlei (XNET +6.8%).
    • ETFs: CQQQ, KWEB, QQQC, EMQQ
    | Tue, Feb. 16, 11:10 AM | 16 Comments
  • Wed, Jan. 27, 9:55 AM
    • Xunlei Limited (NASDAQ:XNET) is up 1.9% as it takes on a share repurchase program of up to $20M.
    • The board authorized buybacks of its American depositary shares over the next 12 months, with timing depending on market conditions (as usual, buys can happen on the open market, private transactions, 10b5-1 plans, etc.).
    • It'll fund the buybacks from available cash; it had cash and equivalents of about $445M as of Sept. 30.
    • Meanwhile, co-founder Steve Hao Cheng is resigning his executive positions -- he's general manager of Xunlei's Games business unit -- while remaining on the board.
    | Wed, Jan. 27, 9:55 AM
  • Nov. 18, 2015, 5:43 PM
    • Xunlei Limited (XNET +5.6%) has promoted a co-CEO along with posting Q3 results where it swung to a loss.
    • The company named Lei Chen, currently chief technology officer, as co-CEO alongside Sean Zou. Chen was instrumental in launching the company's Project Crystal, a crowd-sourced CDN initiative which is posting its first contributions to revenue.
    • Revenue by segment: Subscription, $20.4M, (down 3.2% sequentially, chiefly due to renminbi depreciation); Internet value-added services, $12.1M (up 32.1% sequentially, mainly due to included Project Crystal revenues).
    • Conference call to come tomorrow at 8 a.m. ET.
    | Nov. 18, 2015, 5:43 PM
  • Oct. 14, 2015, 12:54 PM
    • A slew of Chinese Internet stocks are underperforming on a quiet day for equities after Beijing reported China's consumer price index rose 1.6% Y/Y in September (slightly less than an expected 1.8%) and its producer price index fell 5.9% (the biggest drop since the financial crisis), triggering fresh fears about slowing growth.
    • The Shanghai exchange fell a moderate 0.9% overnight. The Nasdaq is currently up 0.3%.
    • U.S.-traded names selling off include Vipshop (VIPS -3.5%), Bitauto (BITA -4.2%), Autohome (ATHM -3.9%), JD.com (JD -2.9%), Jumei (JMEI -8.7%), Autohome (ATHM -3.9%), Xunlei (XNET -3.6%), 500.com (WBAI -2.8%), and Wowo (WOWO -4.2%). JD has received a cautious note from 86 Research.
    | Oct. 14, 2015, 12:54 PM
  • Aug. 12, 2015, 5:39 PM
    • Top gainers, as of 5.25 p.m.: PBYI +8.6%. NUS +6.4%. RNDY +5.0%. SVA +4.5%. NWSA +4.4%.
    • Top losers, as of 5.25p.m.: GLBL -12.6%. XNET -6.8%. CPA -4.4%. VET -3.5%. IBN -3.4%.
    | Aug. 12, 2015, 5:39 PM | 1 Comment
  • Aug. 12, 2015, 5:23 PM
    • Xunlei Limited (NASDAQ:XNET) is off 6.1% after hours following a Q2 report where non-GAAP profit from continuing operations slipped 11% and the company guided to a Q3 revenue decline of about 9%.
    • Revenue by segment: Subscriptions, $21M (down 16.9%); Other Internet value-added services, $9.2M (up 39.4%), driven by game sales.
    • Average revenue per subscriber fell to $4.16 from Q1's $4.34, while subscribers grew during the three months, to 5.06M from 4.88M.
    • Xunlei plans to divest client games this month (4.2% of revenues). Last month, it divested Xunlei KanKan, its online video streaming business.
    • The company is guiding to Q3 revenues of $29M-$33M -- a 9% Y/Y decrease at the midpoint. It had cash and equivalents of $444.6M at quarter's end.
    • Conference call to come tomorrow at 8 a.m. ET.
    | Aug. 12, 2015, 5:23 PM
  • Jul. 15, 2015, 3:37 PM
    • Youku Tudou (NYSE:YOKU) is pacing media decliners among U.S.-listed China stocks, down -6.9% to its lowest point today in U.S. trading, on a day where Shanghai declined 3%.
    • YOKU ADRs are off almost 39% since hitting a 52-week high in early June. Also slipping in Chinese telecom/media stocks, Xunlei Limited (NASDAQ:XNET) is down 8%; Phoenix New Media (NYSE:FENG) is off 3.3%; Ku6 media (NASDAQ:KUTV) is down 2.2%. Game maker NetEase (NASDAQ:NTES) is also down 2.5%.
    • Alex Eppstein says Youku is one of the stocks proving Bill Ackman right, when he warns about a Chinese market that "looks worse to me than 2007 in the U.S."
    • Speaking at the Delivering Alpha conference today, Ackman said: "The Chinese stock market is a fairly remarkable phenomenon and I think kind of a frightening one ... If you look at the Chinese financial system, you look at shadow banking, you look at the amount of leverage, you look at how desperately they worked to keep the stock market up."
    | Jul. 15, 2015, 3:37 PM
  • Jul. 9, 2015, 11:25 AM
    • With local regulators continuing to scramble to halt plunging equity prices - among other things, investors with 5%+ stakes have been barred from selling shares for 6 months - Chinese markets reversed course last night. Shanghai rose 5.8%, Shenzhen rose 3.8%, and Hong Kong rose 4.5%. The Nasdaq is currently up 1.2%.
    • Not surprisingly, U.S.-traded Chinese tech firms are flying higher. Big gainers include Sina (SINA +13.6%), Sohu (SOHU +11.1%), JD.com (JD +8.1%), Vipshop (VIPS +8.3%), Qunar (QUNR +9%), ChinaCache (CCIH +14.1%), Renren (RENN +9.5%), Wowo (WOWO +11.9%), Leju (LEJU +9.1%), China Mobile Games (CMGE +8.3%), Xunlei (XNET +9.7%), Sky-mobi (MOBI +9%), and eLong (LONG +18.1%).
    • Also up strongly (previously covered): Qihoo, 21Vianet, E-House, Youku, Baozun, NQ Mobile, Weibo, Cheetah Mobile, Jumei, and Momo. In addition, YY and Dangdang are rallying after becoming the latest Chinese companies to receive going-private offers.
    • The Guggenheim China Tech ETF (NYSEARCA:CQQQ) is now up 19% from a Wednesday low of $30.09; it's still down 22% from a May peak of $45.74.
    • ETFs: KWEB, QQQC, EMQQ
    • Two days ago: Chinese tech stocks crater; many names down over 10%
    | Jul. 9, 2015, 11:25 AM | 13 Comments
  • Jul. 9, 2015, 9:14 AM
    • Shares in Youku Tudou (NYSE:YOKU) are rebounding, +13.3% premarket, along with China stocks that finally arrested a slide and made up ground today (though in a landscape of suspended trading).
    • In NYSE ADR trading, Youku had lost 20% so far this week and more than 37% over the past month.
    • China's taken steps to halt a slide and calm investors, with bans in place against major shareholders selling stock and a pursuit of "malicious" short sellers.
    • Also rebounding premarket among Chinese media: Xunlet (XNET +9.9%), NetEase (+5%), China Mobile Games & Entertainment (CMGE +2.5%)
    • Previously: China halts stock plunge for now (Jul. 09 2015)
    • Previously: YY receives going-private offer from chairman, CEO (Jul. 09 2015)
    | Jul. 9, 2015, 9:14 AM
  • Jul. 7, 2015, 10:42 AM
    • The selloff in Chinese equities refuses to let up: Shanghai fell 1.3% overnight, Shenzhen fell 5.3%, and Hong Kong fell 2.7%. The declines come amid a backdrop of frantic government efforts to halt the plunge, and requests by hundreds of Chinese companies for trading halts.
    • The lion's share of U.S.-traded Chinese Web and mobile firms are down at least 5%, and many are down more than twice that. In alphabetical order by ticker, major decliners include Autohome (ATHM -10.6%), Bitauto (BITA -18.7%), Baozun (BZUN -22.7%), ChinaCache (CCIH -14.6%), Cheetah Mobile (CMCM -15.2%), China Mobile Games (CMGE -13.2%), Ctrip (CTRP -10.1%), Changyou (CYOU -12.6%), Dangdang (DANG -13.8%), iDreamSky (DSKY -15.4%), E-House (EJ -15.9%), Jumei (JMEI -20.2%), Leju (LEJU -12.1%), eLong (LONG -12.6%), Momo (MOMO -9.4%), NQ Mobile (NQ -16.7%), NetEase (NTES -12.2%), Qihoo (QIHU -10.3%), Qunar (QUNR -14.2%), Renren (RENN -17.8%), SouFun (SFUN -16.3%), Sohu (SOHU -10.9%), Taomee (TAOM -15.1%), Vipshop (VIPS -9.7%), Weibo (WB -10.9%), 500.com (WBAI -26.2%), Wowo (WOWO -26.7%), 58.com (WUBA -17.3%), Xunlei (XNET -14%), Youku (YOKU -12.2%), and YY (YY -9.4%).
    • The plunge seen over the last two months (aided by panic selling and margin calls?) has led multiples for U.S.-traded Chinese tech names to compress dramatically, with forward P/E and P/S ratios often below those of U.S. peers sporting similar growth profiles. The Guggenheim China Tech ETF (CQQQ -9.3%) is down 29% from a May peak of $45.64.
    • ETFs: KWEB, QQQC, EMQQ
    • Yesterday: Chinese tech stocks tumble again in spite of fresh government support
    • Earlier today: Chinese phone firms decline as country's markets sink
    • Update: The group pared its losses a bit in afternoon trading. CQQQ closed down 5.8%.
    | Jul. 7, 2015, 10:42 AM | 49 Comments
  • Jul. 6, 2015, 11:01 AM
    • The Shanghai exchange rose 2.4% overnight following a Greek rejection of austerity measures and the unveiling by Chinese brokerages of a government-endorsed plan to buy at least RMB120B ($19.3B) worth of shares to prop up nosediving equity prices. However, Shenzhen fell 2.7% and Hong Kong fell 3.7%, with small-cap names especially hard-hit.
    • U.S.-traded Chinese Web/mobile names are seeing heavy losses (CQQQ -7.8%), with small/mid-cap firms unsurprisingly bearing the brunt of the damage. Major decliners include Sina (SINA -8.8%), Weibo (WB -11.6%), YY (YY -7.3%), Sohu (SOHU -9.1%), Changyou (CYOU -11.8%), Youku (YOKU -12.3%), Jumei (JMEI -8.2%), Xunlei (XNET -8.7%), SouFun (SFUN -9.3%), Leju (LEJU -7.6%), E-House (EJ -6.9%), Sky-mobi (MOBI -9.4%), NQ Mobile (NQ -6.3%), 500.com (WBAI -11.6%), Momo (MOMO -6%), and Dangdang (DANG -6.7%).
    • The NYT observes $2.7T in value has evaporated from Chinese equities since local markets peaked on June 12. The paper also notes individual investors own over 80% of Chinese stocks, and that Chinese investors respectively own 112M and 142M accounts on the Shanghai and Shenzhen exchanges, with each exchange seeing ~20M account openings this spring.
    • ETFs: KWEB, QQQC, EMQQ
    | Jul. 6, 2015, 11:01 AM | 16 Comments
  • Jun. 29, 2015, 5:35 PM
    | Jun. 29, 2015, 5:35 PM | 8 Comments
  • Jun. 29, 2015, 12:40 PM
    • With online video firm Xunlei Limited (XNET -8.3%) and hardware maker Xiaomi forming a content distribution pact, the partnership may presage a full buyout of Xunlei as Xiaomi pursues ambitions for an ecosystem, Doug Young argues.
    • The two will work under the brand Xingyu, which will focus on a content distibution network targeted at gaming, mobile, video, smart hardware, and online live broadcasting. It'll use "weak network acceleration" that's already in use on Xiaomi's handsets to increase download speeds even on sparse networks.
    • Xiaomi bought 30% of Xunlei a year ago, and recent trends have China's video sharing companies getting swallowed up by or selling major stakes to bigger firms.
    • Xunlei's shares have doubled in the past three months, but it still has a modest $800M value -- which means Xiaomi could have the rest for an accessible $400M-$500M, Young says.
    | Jun. 29, 2015, 12:40 PM
  • Jun. 26, 2015, 11:45 AM
    • As was the case a week ago, Chinese Web and mobile names are getting clocked in response to a sharp overseas selloff: Shanghai and Shenzhen respectively fell 7.4% and 7.9% overnight, putting their recent declines around the standard bear market threshold of 20%. The Nasdaq is down 0.4%.
    • Explanations for China's selloff range from tighter margin requirements to cautious analyst notes to speculators simply choosing to take profits following a massive run-up. Shanghai and Shenzhen's 12-month gains now stand at 106% and 132%.
    • Major U.S.-traded decliners include YY (YY -6.5%), Sohu (SOHU -5.4%), Sina (SINA -4.7%), Weibo (WB -5.2%), Xunlei (XNET -9.5%), Dangdang (DANG -8.7%), Jumei (JMEI -9.1%), Youku (YOKU -8.7%), Cheetah Mobile (CMCM -7.2%), Bitauto (BITA -6.7%), SouFun (SFUN -5.9%), ChinaCache (CCIH -5.4%), Zhaopin (ZPIN -5.6%), Wowo (WOWO -3%), and 500.com (WBAI -5.3%).
    • ETFs: CQQQ, KWEB, QQQC, EMQQ
    | Jun. 26, 2015, 11:45 AM | 6 Comments
Company Description
Xunlei Ltd. is a holding company, which engages in the provision of internet platform for digital media content in China. It offers two core products and services include Xunlei Accelerator and Cloud Acceleration Subscription Services. The company was founded by Sheng Long Zou and Hao Cheng in... More
Sector: Technology
Industry: Application Software
Country: United States