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Core Viewpoint - Shenzhen Xunlei Network Technology Co., Ltd. has completed the acquisition of the leading domestic sports community Hupu for a total consideration of 500 million RMB [1][4]. Group 1: Acquisition Details - Xunlei has paid 400 million RMB in cash prior to the completion of the transaction [2]. - The remaining 100 million RMB will be paid in two equal installments after the transaction is completed, specifically 12 months and 24 months later [4]. - The acquisition agreement was reached on January 27, 2025, and the transaction is expected to be completed in the first half of 2025 [4]. Group 2: Company Background - Xunlei was established in 2003 and has transitioned from download services to cloud computing, blockchain, and content platforms, launching products like Xunlei Cloud and entertainment services [5]. - For the first quarter ending March 31, 2025, Xunlei reported total revenue of 88.8 million USD, a year-on-year increase of 10.5%, primarily driven by growth in membership services and overseas live streaming [5]. Group 3: Hupu's Background and Challenges - Hupu, founded in 2004, focuses on basketball and football, expanding into esports and lifestyle segments, with over 100 million registered users, predominantly male [5]. - Hupu has faced significant challenges in recent years, including a decline in advertising revenue due to industry downturns and struggles in its e-commerce business [6]. - The sale to Xunlei is viewed as a necessary move for Hupu amid a broader trend of challenges faced by vertical communities in a declining traffic dividend environment [6]. Group 4: Strategic Implications - Xunlei's CEO, Li Jinbo, stated that the acquisition will create strong synergies, leveraging Xunlei's user base and technical expertise alongside Hupu's quality sports content [6]. - The integration of Xunlei's cloud computing and blockchain technology with Hupu's content and community is expected to enhance user experience and drive growth in membership and advertising [7]. - The success of this integration and the potential for collaborative growth in various business areas will require time to validate [7].