Xunlei prospectus summary

Last weekend, Thunder filed an F-1 prospectus with the Securities and Exchange Commission (SEC). The prospectus shows that Thunder plans to raise up to 100 million U.S. dollars through IPO transactions and the stock trading code is "XNET".

Thunder published performance data in the prospectus, said the company's net revenue in fiscal year 2011 was 81.9 million US dollars, 2012 fiscal year was 141 million US dollars, 2013 fiscal year was 175 million US dollars, the first quarter of 2014 fiscal year was 40 million US dollars. Xunlei's gross profit for the fiscal year 2011 was 33.8 million U.S. dollars, which was 56.5 million U.S. dollars for the fiscal year 2012, 81.3 million U.S. dollars for the 2013 fiscal year, and 16.1 million U.S. dollars for the first quarter of the fiscal year 2014. In 2011, Thunder's operating loss was 3.1 million U.S. dollars, operating profit in fiscal year 2012 was 2.1 million U.S. dollars, operating profit in fiscal year 2013 was 3.8 million U.S. dollars, and operating loss in the first quarter of fiscal year 2014 was 1.2 million U.S. dollars.

The total operating expenditure of Thunder in fiscal year 2011 was US$41.7 million, which was US$59.1 million in fiscal year 2012, US$78.5 million in fiscal 2013, and US$18.2 million in the first quarter of fiscal 2014.

The proportions of shares held by Thunder Directors and senior executives are as follows: Zou Shenglong holds approximately 32.8 million shares with a shareholding ratio of 12.6%; Cheng Hao holds approximately 13.1 million shares with a shareholding ratio of 5.0%; Liu Qin holds approximately 3.5 million shares. The shareholding ratio is 1.3%; Zhouquan holds approximately 25.2 million shares, holding 9.7% of the shares; Yang Wang holds approximately 15 million shares and holds 5.7% of the shares. All directors and senior executives hold a total of approximately 90.3 million shares with a shareholding ratio of 34.5%.

The proportion of shares held by Thunder's major and selling shareholders are as follows: Xiaomi Ventures holds approximately 71 million shares and holds 27.2%; Morningside Investment Group holds approximately 37.8 million shares and holds a ratio of 14.5 shares. %;Vantage Point Global holds approximately 32.8 million shares with 12.6% stake; King Venture holds approximately 31.9 million shares and holds 12.2%; IDG Funds holds approximately 25.2 million shares. The ratio is 9.7%; Ceyuan Funds holds approximately 14.2 million shares and holds 5.4%; Skyline Global holds approximately 15 million shares and holds 5.7%; Aiden & Jasmine holds approximately 13.1 million shares and holds a ratio of 5.0. %.

Thunder in the prospectus mentioned the following important information:

Net profit growth comes from cloud services 1. Cloud accelerates user growth Cloud acceleration is a value-added service of Thunder. This service, through Thunder's products, provides users with high-speed data transmission to the local area to increase users' broadband utilization. Thundercloud Acceleration is the use of the Thunder Resource Network Division's servers across the country, through the Smart CDN's method to store the index of popular resources to the nearest place to the user, so as to achieve the purpose of full-speed transmission. As the core technology of Thunder, Cloud Acceleration has been applied to almost all products of Thunder. Prior to this, Thunder’s main member service was to accelerate cloud application in the process of data transmission and use it as a value-added service.

According to the report of iResearch, as of March 2014, the number of monthly active users accelerated by Thundercloud was approximately 142 million, which accounted for 81.4% of the Chinese market share.