Document:

Exhibit 4.34

 

English Summary of General Contract for
the Construction of Xunlei Building

 

Shenzhen Xunlei Networking
Technologies Co., Ltd. (as Employer) and China Construction Second Engineering Bureau Ltd. (as Contractor) entered into a General
Contract for the Construction of Xunlei Building on April 24, 2018 (the “Agreement”).

 

The following is an
English summary of material terms and conditions of the general provisions of the Agreement in accordance with Rule 12b-12(d) under
the Securities Exchange Act of 1934, as amended (17 CFR 240.12b-12(d)). In addition to the material terms and conditions of the
general provisions that have been summarized herein, the Agreement also includes more detailed special provisions with respect
to the same or similar subjects of the general provisions summarized herein, such as project payment, insurance, project guarantees,
breach of contract, and dispute, and other customary general provisions, as well as ancillary exhibits. Capitalized term in the
below summary has the meaning ascribed to it in the Agreement.

 

Employer:

 

Shenzhen Xunlei Networking
Technologies Co., Ltd.

 

Contractor:

 

China Construction
Second Engineering Bureau Ltd.

 

Project scope:

 

The project is of frame-shear
wall structure and covers an area of 5,004.38 m2, including 26 floors aboveground and 4 floors underground, with a total
height of 120 meters and a total construction floor area of about 65,000 m2.

 

Contract period:

 

From April 16, 2018
(subject to the Order of Commencement) to February 4, 2020. The total contract period is 660 calendar days.

 

Contract price:

 

The contract price
(including tax) is RMB144,602,452.83. The housekeeping fee for the construction site is RMB3,476,106.26.

 

Employer’s obligations:

 

The Employer may appoint
the Employer’s Representative whose name shall be specified in the Special Conditions. The matters to be confirmed, approved,
agreed, and approved by the Employer as agreed in the Contract shall be subject to the seal of the Employer or the signature of
the Employer’s Representative. If the Employer needs to change the Employer’s Representative, the Engineer and the
Contractor shall be notified in writing at least 7 days in advance.

 

The Employer shall
perform all the obligations agreed in the Contract. The Employer shall pay the Contract Price and other accounts payable to the
Contractor according to the period and mode of payment agreed in the Contract, and shall provide the Contractor with standards,
specifications, drawings, materials, equipment and other items in accordance with the Contract. The Employer shall ensure that
its personnel cooperate with the Contractor and comply with the provisions on engineering safety and environmental protection.

 

The Employer shall
complete the following work in accordance with the Special Conditions before the commencement of the Project, and bear relevant
expenses:

 

		(1)	To handle work such as land acquisition, compensation for demolition, leveling the Construction Site, so that the Construction
Site is qualified for construction, and continue to be responsible for resolving the remaining problems of the above work after
the commencement of work;

 

		(2)	To connect the water, electricity and communication lines required for construction from the outside to the inside of the Construction
Site to ensure the needs during the construction period;

 

     

     

    

 

		(3)	To open the access between the Construction Site and the urban and rural public roads to meet the needs of construction and
transportation;

 

		(4)	To provide the Contractor with the information on the engineering geology and underground pipeline of the Construction Site,
and be responsible for the truth and accuracy of the information;

 

		(5)	To handle planning and construction permits, and the approval of no water, power outage, interruption of road traffic, blasting
operations, etc.;

 

		(6)	To determine the benchmark and coordinate control point, organize the site handover and acceptance and the handover to the
Contractor;

 

		(7)	To organize the Contractor and the Designer to carry out the joint review of drawings and design disclosure;

 

		(8)	To coordinate with and deal with the protection of underground pipelines, nearby buildings, structures (including relic protection
buildings) and ancient and precious trees around the Construction Site; and

 

		(9)	To handle other tasks to be carried out by the Employer as agreed by the Employer and the Contractor in the Special Conditions.

 

The Employer may delegate
the Contractor to handle part of the work in the preceding paragraph at the Employer’s expense. The specific delegated content
is agreed by the Parties in the Special Conditions. If the Employer fails to complete all the work stipulated in the preceding
paragraph and has not entrusted the Contractor to handle the work, which causes losses to the Contractor and/or the delay in the
construction period, the Employer shall compensate the Contractor for the losses and/or extend the delayed construction period.

 

Contractor’s obligations:

 

The Contractor shall
perform all the obligations agreed in the Contract. The Contractor shall complete the design work stipulated in the Contract, carefully
organize the construction, complete the Project on time and repair the defects within the defect warranty period. Therefore, the
Contractor shall provide all necessary supervision and management, workers, materials, equipment, construction equipment, transportation
to and from the Construction Site, and various items that are stipulated by the Contract or reasonably inferred to be necessary
for the Project.

 

The Contractor shall
complete the following work in accordance with the Special Conditions:

 

		(1)	To complete the engineering construction drawing design entrusted by the Employer within its scope of design qualification
level and business permit for the project designed by the Contractor, while the design shall be used after being reviewed by the
Engineer and confirmed by the Employer, and the Employer shall bear the expenses incurred thereby;

 

		(2)	To undertake the safety and security of the Construction Site, and provide and maintain lighting and enclosure facilities for
construction not at night;

 

		(3)	To provide the Employer with the housing and facilities for office and living at the Construction Site, and the expenses incurred
shall be borne by the Employer;

 

		(4)	To go through relevant procedures according to laws, regulations, rules and the management regulations concerning Construction
Site transportation, environment protection, construction noise, safety in production, and housekeeping and then inform the Engineer.
The Employer shall bear the expenses incurred, except for the penalty caused by the Contractor;

 

		(5)	To be responsible for the protection of the completed project before the Project or an individual works of the Project has
been completed but not delivered to the Employer, and shall repair the damage occurred during the protection period and bear the
expenses. If the Employer requires the Contractor to take special protective measures, the Employer shall bear the corresponding
expenses;

 

		(6)	To carry out the protection of underground pipelines, nearby buildings, structures (including relic protection buildings) and
ancient and precious trees of the Construction Site;

 

		(7)	To ensure that the Construction Site is clean and conforms to the related provisions of environmental sanitation management,
clean the Construction Site before handover, and be responsible for the loss and penalty caused by its violation of relevant regulations
for its own cause; and

 

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		(8)	To be responsible for other tasks to be carried out by the Contractor as agreed by the Employer and the Contractor in the Special
Conditions.

 

If the Contractor fails
to complete all the work stipulated in the preceding paragraph, which causes losses to the Employer, the Contractor shall compensate
the Employer for the losses

 

Engineer:

 

The Employer shall
designate the Engineer in the Special Conditions of the Contract or inform the Contractor of the Engineer’s name before commencement.
For the project under supervision, the Employer shall inform the Contractor in writing of the name and supervision content of the
Supervision Organization and the Chief Supervision Engineer before commencement. Any instruction from the Employer to the Contractor
shall be given by the Engineer. If the Employer needs to change the Engineer, the Contractor shall be notified in writing at least
7 days in advance.

 

The Engineer shall
perform the duties in the Contract and exercise the power specified or inevitably implied therein. Except as expressly stated in
the Contract, the Engineer shall have no right to amend the Contract, or to discharge the Contractor from any of its duties and
obligations under the Contract. Any act or omission of the Engineer in the performance and exercise of its authority shall not
exempt the Contractor from performing any of its duties and obligations as agreed in the Contract.

 

Project Manager:

 

The Contractor shall
appoint the Project Manager in accordance with the commitments in the bid documents and authorize him to perform the power and
obligations stipulated in the Contract on behalf of the Contractor, and the authorization shall be specified in the Special Conditions
with the consent of the Employer.

 

All documents issued
by the Contractor under the Contract (including notices to the Employer or the Engineer) shall be in writing and signed by the
Project Manager before issuance.

 

The Contractor shall
ensure that the Project Manager appointed by it is consistent with the commitments in the bid documents and that the Project Manager
is in place in time, so as to ensure the stability of the project management team in the construction process. If the appointed
Project Manager is inconsistent with the commitments in the bid documents or fails to be in place in time, the Employer may impose
corresponding penalties on the Contractor in accordance with the Special Conditions. If the Project Manager needs to be replaced,
the Engineer shall be notified in writing and the replacement shall be reported to the Employer for consent at least 7 days in
advance. Without the consent of the Employer, the Contractor shall not replace the Project Manager.

 

The Project Manager
shall organize the construction properly according to the construction organization design (construction plan) and project schedule
approved by the Employer and the Engineer, and the instructions issued by the Engineer. If an emergency that threatens the personal
and property safety and immediately affects the safety of the Project occurs and the Engineer cannot be contacted, the Project
Manager shall take emergency measures to ensure the safety of personnel, property and the Project, and submit a report to the Engineer
within 48 hours after taking the measures.

 

Transfer:

 

The Contractor shall
not transfer the Contract or any part thereof to any other organization or individual.

 

Subcontracting:

 

The Contractor’s
project to be subcontracted and the Subcontractor shall be approved by the Employer and stipulated in Special Conditions. The subcontracting
part of the Project by the Contractor within its scope of contracting does not discharge the Contractor from any responsibilities
and obligations.

 

If the Contractor fails
to have the qualifications to construct specialized works in the Contract, it shall subcontract the specialized works according
to the preceding paragraph, and the Subcontractor shall be qualified for the construction of the specialized works.

 

The Contractor is obliged
to provide the Engineer with all the information on the Subcontractor of the project subcontracted or to be subcontracted at the
request of the Engineer.

 

The Contractor shall
sign a subcontract with the subcontractors. The subcontracted project price shall be settled by the Contractor with the subcontractors.
The Employer shall not pay any project payment to the subcontractors in any form without the consent of the Contractor.

 

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The Contractor shall
not divide the whole Project into parts for subcontracting. The Contractor shall prohibit the Subcontractor from subcontracting
any part of the subcontracted project again.

 

Specialized works contracting:

 

The Employer who contracts
specialized works by itself shall follow relevant laws and regulations and define the specialized contractor in the Special Conditions.
The specialized works construction contract shall be signed by and between the Employer and the specialized contractor, and the
Contractor and the specialized contractor have the relationship of general contracting and subcontracting.

 

The Employer shall
protect the Contractor from the responsibilities and obligations that shall be borne by the specialized works contractor, and protect
the Contractor from damages in respect of the above duties and obligations. The Contractor shall be exempted from the claim, compensation
and litigation costs and other expenses that are related to the Contract and caused by the failure of the specialized contractor
to perform the above duties and obligations;

 

The Contractor shall
be exempted from any loss caused by the fault of the specialized contractor; and

 

The Contractor shall
conduct unified and coordinated management of the whole project construction, and the specialized contractor shall be managed by
the Contractor and cooperate in the construction.

 

The Employer and the
Contractor shall separately agree on the amount and payment method of the cooperation fee and management fee according to the correlation
between the construction contract of specialized works and the Contract.

 

Commencement of work and delay:

 

The Engineer shall
issue the Notice of Commencement to the Contractor at least 7 days prior to the Commencement Date as agreed in the Contract, and
the Contractor shall commence the construction of the Project or an individual works of the Project according to the Commencement
Date stipulated in the Contract.

 

If the Contractor fails
to commence the construction on time due to its own reasons, it shall submit the request and reasons for the delay of commencement
of work to the Engineer at least 7 days before the Commencement Date stipulated in the Contract. The Engineer shall review the
application for the delay of commencement of work within 48 hours after receiving it, and reply to the Contractor after the approval
of the Employer. If the Employer agrees to delay the commencement of work or fails to reply within the time limit, the commencement
of work will be postponed and the construction period will be extended accordingly. If the Employer does not agree to delay the
commencement of work or the Contractor fails to file an application for the delay of commencement of work within the agreed time
limit, the commencement of work will not be delayed and the construction period will not be postponed.

 

If the failure of the
Contractor to commence the construction on the Commencement Date specified in the Contract is caused by the Employer, the Engineer
shall notify the Contractor in writing to delay the commencement of work and postpone the construction period accordingly. The
Employer shall compensate the Contractor for the loss caused by the delay in commencement of work.

 

Suspension and resumption of construction:

 

If the Engineer thinks
it is necessary to suspend construction, he/she may issue a Construction Order to the Contractor to suspend part or all of the
Project and propose written handling opinions within 48 hours after the order is issued. The Contractor shall suspend the construction
of part or all of the Project in accordance with the instructions of the Engineer. During the suspension of construction, the Contractor
shall properly protect the Project or any part thereof and ensure its safety.

 

The Employer shall
not compensate for the expense increase and/or delay in the construction period involved in the suspension of construction due
to the following reasons:

 

		(1)	The necessary suspension caused by the Contractor’s certain mistakes or breach of contract, or those the Contractor shall
be responsible;

 

		(2)	Such suspension as may be required by the Contractor’s adjustment and deployment for the reasonable construction of the
Project or by necessary technical measures taken for the safety of the Project and any part thereof; and

 

		(3)	Necessary suspension caused by on-site climatic conditions (except for the Force Majeure).

 

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If the suspension caused
by the act or mistake of the Employer or the Engineer causes losses to the Contractor and/or the delay in the construction period,
the Employer shall compensate the Contractor for the losses and/or extend the delayed construction period.

 

If the Contractor suspends
the construction of all or part of the Project according to the instructions of the Engineer, the Engineer does not issue an Order
of Resumption within 63 days after the date of suspension of construction, and the suspension of construction is not within the
scope of the second paragraph of this subsection, the Contractor may issue a notice to the Engineer to request to continue the
suspended construction within 14 days after the Engineer receives the notice. If the approval is not obtained within the above
period, the Contractor may (but not necessarily) make the following choices:

 

		(1)	Where the suspension affects only part of the Project, the Contractor shall have the right to cancel such part of the Project
from the Contract and give a notice thereof to the Employer; and

 

		(2)	Where the suspension affects the whole Project, the Contractor shall have the right to regard such suspension as an event of
default in accordance with Article 36 (breach of contract) of the General Conditions and terminate the contracting of the Contract.

 

Upon the issuance of
Order of Resumption by the Engineer, the Contractor and the Engineer shall jointly inspect the Project, production equipment and
materials affected by the suspension. The Contractor shall be responsible for the restoring for any deterioration, defect or damage
of the Project, equipment and materials.

 

Construction period and delay:

 

The Project shall be
completed within the period agreed in the Contract, or within the extended period upon the occurrence of certain events agreed
in the Agreement.

 

If the Contractor fails
to complete the Project within the construction period or agreed extended period, the Contractor shall undertake the liability
for breach and pay the delay damages to the Employer in accordance with the Special Conditions, while the payment of the delay
damages shall not discharge the Contractor from any responsibilities and obligations agreed in the Contract.

 

Project quality and inspection:

 

The Project quality
shall meet the quality standards agreed in the Contract Agreement. The evaluation of project quality standards shall be based on
the standards and specifications agreed therein.

 

The Contractor shall
establish a quality assurance system which shall conform to the provisions of the Contract. Compliance with the quality assurance
system shall not relieve the Contractor from any of its obligations and responsibilities under the Contract.

 

The Contractor shall
be responsible to the Employer for the quality of the Project, and its responsibilities shall include but not limited to the following:

 

		(1)	To prepare and review construction technical plans; to determine the construction technical measures for special projects;
to establish engineering quality assurance system. Although these schemes and measures are subject to the approval of the Engineer,
they do not exempt the Contractor from liability;

 

		(2)	To provide and organize sufficient engineering quality control and inspection personnel to inspect and control engineering
construction quality;

 

		(3)	To control the materials and equipment used in construction, including those procured by the Contractor and Subcontractor,
in order to make it not lower than the standards, specifications, design documents and standards stipulated in the Contract;

 

		(4)	To participate in the acceptance of all projects, including concealment acceptance, intermediate acceptance and completion
acceptance, and to organize the Subcontractor to participate in the project completion acceptance;

 

		(5)	To be responsible for organizing the Subcontractor to jointly assume the project warranty responsibility during the defect
liability period;

 

If the Project is damaged
due to the Contractor’s responsibility for quality control, the Contractor shall repair it on its own and bear the losses
caused thereby to the Employer. The delayed construction period shall not be postponed.

 

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The Contractor shall
carry out construction in accordance with the relevant standards, specifications and requirements of design drawings as well as
the instructions of the Engineer, and accept the inspection and test of the Engineer at any time, so as to provide all convenience
for the inspection and test.

 

Contract price:

 

The Contract Price
shall be agreed by the Employer and the Contractor in the Agreement based on the bid price of the Notification of Award (the Contractor’s
bid price quotation is the Contract Price). After the Contract Price is agreed in the Contract, neither party may change it without
authorization.

 

Except as otherwise
agreed in the Contract, all taxes and fees to be paid by the Contractor or its Subcontractor or specialized contractor shall be
borne and paid by the same in accordance with the current tax law of the state and the current provisions of the relevant departments.

 

The fixed unit price
is applied hereunder. Except as otherwise agreed in the Contract, the unit price of the Project constituting the Contract Price
shall not be adjusted once the Contract is signed and determined by the Employer and the Contractor.

 

After the Contract
is signed, if the change of national laws and regulations has an impact on the Contract Price, the Contract Price shall be adjusted,
and the Employer and the Contractor shall make adjustment with reference to the corresponding measures issued by the municipal
project cost management agency and the actual impact caused by the change of laws and regulations.

 

If the price fluctuation
of labor, main materials and machinery used for the Project caused by reasons other than the Contractor exceeds 5% plus or minus,
the Contract Price shall be adjusted, unless the Employer and the Contractor agree not to adjust in the Special Conditions. If
adjustment is made, the price difference adjustment excludes the enterprise management fees and profits.

 

Confirmation of quantities:

 

The Employer and the
Contractor shall agree in the Special Conditions on a rule for calculating the quantities to be used.

 

The quantities listed
in the Bill of Quantities provided by the Employer is the estimated quantities provided according to the design of the Project
and cannot be regarded as the actual and accurate quantities that the Contractor should complete in the course of performing the
Contract obligations.

 

The Contractor shall
timely submit the measurement report to the Engineer on the completed quantities in accordance with the progress of the Project.
The Engineer shall, within 7 days after receiving the measurement report, measure the completed project quantities submitted by
the Contractor and notify the Contractor 24 hours before measurement, and the Contractor shall attend on time and provide all materials
and necessary assistance as required.

 

Project payment:

 

The Employer and the
Contractor shall agree in the Special Conditions on a certain proportion of the project advance payment for construction preparation,
and the amount is generally 10 ~ 30% of the Contract Price. For the amount of advance payment for housekeeping measures fee of
the Construction Site, where the contract period is less than one year, it shall not be less than 50% of the total amount of such
fee; if the contract period is more than one year (including one year), it shall not be less than 30% of the total fee.

 

The Employer shall
pay the Contractor the advance payment of the Project at the time and amount specified in the Special Conditions, and the advance
payment shall be made no later than 7 days before the agreed Commencement Date. If the Employer fails to pay in advance as agreed,
the Contractor shall issue a notice to the Employer requesting the payment in advance within 7 days after the expiration of the
agreed time for advance payment; if the Employer still fails to pay in advance as required after receiving the notice, the Contractor
may stop the construction 14 days after giving the notice; the Employer shall pay the loan interest to the Contractor from the
date agreed upon and shall bear the liability for breach.

 

The Employer and the
Contractor shall specify in the Special Conditions of the starting point and deduction ratio for the project advance payment. The
advance payment shall not be deducted until the starting point is reached; after reaching the starting point, the advance payment
shall be deducted from the interim payment according to the agreed proportion and the project progress in stages.

 

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The Employer and the
Contractor shall agree on the time interval and requirements for interim settlement in the Special Conditions, and conduct interim
settlement in accordance with this agreement; if there is no time interval agreement, the interim settlement shall be conducted
on a monthly basis. The Contractor shall submit to the Engineer the interim settlement statement signed by its Project Manager.

 

The Engineer shall
issue the interim payment certificates within 14 days after the receipt of the interim settlement statement, indicating the price
it considers should be settled on the due date and the price that needs to be withheld and deducted and reporting to the Employer
for approval. If the price payable in the period is less than the minimum amount paid in the period stipulated in the Special Conditions
after being withheld and deducted, the Engineer may not issue a payment certificate, and the project price in the period shall
be carried forward on schedule until the accumulated amount payable reaches the minimum amount paid in the period stipulated in
the Special Conditions. When the accumulated payment amount in the interim reaches 90% of the total Contract Price and the additional
(reduced) Contract Price, the payment shall be suspended.

 

The Employer shall,
within 7 days after the issuance of the interim payment certificate, pay the amount specified in the interim payment certificate
to the Contractor. If the Employer fails to pay within the agreed time, the Contractor may issue a notice to the Employer requesting
payment. If the Employer still fails to pay as agreed upon receipt of the notice, it may negotiate with the Contractor to sign
a deferred payment agreement, upon which the payment may be deferred with the consent of the Contractor; the Employer shall pay
the loan interest of the payables to the Contractor from the date agreed upon. If the Employer fails to make interim payment as
agreed, and the Parties fail to reach an agreement on deferred payment, resulting in the failure of the construction, the Contractor
may stop the construction, and the Employer shall bear the liability for breach.

 

Completion acceptance:

 

Within 21 days after
the Work has satisfied completion acceptance criteria, the Contractor shall submit application to the Employer for completion acceptance
and provide completion materials according to provisions of Special Conditions and those concerning the handover and acceptance
of the Project upon completion. Upon receipt of the application and the completion materials, the Employer shall, within 21 days,
establish completion and acceptance commission, notify appropriate authorities, and organize completion acceptance.

 

If the Project passes
the completion acceptance, the Employer shall, within 7 days after the acceptance procedures, issue the Handover Certificate to
the Contractor and initiate handover procedures of the Project. After the issuance of the Handover Certificate, the Contractor
shall handover the Project to the Employer, and the Contractor will no longer be liable for taking care of the Project. After the
issuance of the Handover Certificate, the Contractor shall clear the Construction Site and remove equipment of the Contractor,
remaining materials and equipment, trash and all kinds of Temporary Works from the site, to keep the whole site and the Project
clean and tidy and can be put into use after the completion.

 

If the Project does
not meet the agreed criteria provided in the Contract, the Engineer shall follow the comments given by the completion and acceptance
commission and issue instruction to the Contractor indicating that the Project will not be accepted within 7 days after the acceptance
work, and require the Contractor to rework and repair the Project that does not meet the agreed criteria provided in the Contract.
After the completion of the above work, the Contractor shall submit a new application for completion acceptance. The Employer shall
carry out completion acceptance work again. If the Project can be accepted as qualified, then the Employer shall issue the Handover
Certificate.

 

Upon the receipt of
the completion acceptance application submitted by the Contractor, if the Employer fails to organize completion acceptance within
21 days without any justified reason, or if the Employer refuses to provide suggestions for modification within 7 days after the
completion acceptance work has been carried out even if the Contractor had urged it to do so in writing, it shall be deemed that
the Project is accepted as qualified, and the date when the Contractor submit the application for completion acceptance shall be
deemed as the Actual Completion Date of the Project. The Employer shall be liable for taking care of the Project thereafter.

 

If the quality of the
Project fails to meet the agreed criteria provided in the Contract during the completion acceptance, in addition to carrying out
rework and repair works, the Employer may become subject to penalty as it and the Contractor agreed in Special Conditions.

 

If the Employer has
any objection about the quality of the Project and refuses to issue the Handover Certificate of the Project, the Employer and the
Contractor shall delegate qualified Quality Inspection and Evaluation Institution as agreed in the Special Conditions for quality
inspection of works in dispute, except for when the Employer agrees to accept the Project with quality criteria lower than those
provided in the Contract (the lower criteria shall comply with mandatory national quality standards).

 

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Completion settlement:

 

The Contractor shall
prepare the Completion Settlement Statement based on the agreed Contract Price, the changed Contract Price and claims, and summarizes
all the materials for completion settlement.

 

Unless Special Conditions
specify the agreed personnel and times for verification, the Employer and the Contractor are required to verify completion settlement
once only, except for the Contractor has to resubmit revised materials based on the suggestions proposed by the Employer after
verification.

 

Within 28 days or agreed
period as described by Special Conditions after the completed Project is accepted as qualified, the Contractor shall submit the
Completion Settlement Statement and materials for settlement to the Employer.

 

Upon receipt of the
Completion Settlement Statement and materials for settlement submitted by the Contractor, the Employer shall, within 28 days or
agreed period as described by Special Conditions, with the help of the Engineer, verify the Completion Settlement Statement submitted
by the Contractor based on materials for settlement according to relevant provisions of the Contract, and:

 

		(1)	Approve the Completion Settlement Statement submitted by the Contractor, and identify the settlement price of the completed
Project; or

 

		(2)	Propose suggestions for verification or require additional materials for settlement.

 

Upon receipt of the
suggestions for verification proposed by the Employer, the Contractor shall, within 14 days or agreed period as described by Special
Conditions, submit the revised Completion Settlement Statement or additional materials for settlement to the Employer. Upon receipt
of such materials, the Employer shall, within 14 days or agreed period as described by Special Conditions, verify the materials
then identify the settlement price of the completed Project upon any consensus has been reached between the Employer and the Contractor.

 

If the Contractor fails
to submit the Completion Settlement Statement and materials for settlement (including revised Completion Settlement Statement and
additional materials for settlement) during the contract period, the Engineer shall notify the Contractor to submit such materials;
upon the receipt of such instruction, if the Contractor fails to follow the instruction or does not make definite response within
14 days, the Employer is entitled to review, verify and identify the settlement price of the completed Project based on existing
materials, submit the settlement price to the Contractor in writing and regard it as the basis of the payment of the settlement
price of the completed Project.

 

Within 60 days or agreed
period as described by Special Conditions upon receipt of the Completion Settlement Statement and materials for settlement, or
within 14 days or agreed period as described by Special Conditions upon receipt of the revised Completion Settlement Statement
or additional materials for settlement, if the Employer does not approve the Completion Settlement Statement (including the revised
Completion Settlement Statement) submitted by the Contractor nor propose any objection, it is deemed that the Employer approve
the Completion Settlement Statement submitted by the Contractor.

 

After the Parties have
identified the settlement price of the completed Project, the Employer shall, within 7 days, submit the Completion Settlement Statement
identified jointly by the Parties to the designated Review Authority for review. Completion settlement which has not been reviewed
shall not be the basis of the payment of the project price nor the property right registration.

 

After the completion
of the review of completion settlement, the Engineer shall issue Certificate of Payment upon Completion of Work within 7 days,
report it to the Employer and sent it to the Contractor after approval. The Certificate of Payment upon Completion of Work shall
specify the identified settlement price of the completed Project and the final payment that shall be made to the Contractor under
the Contract.

 

After the identification
of the Certificate of Payment upon Completion of Work, the Employer shall, within 14 days, pay the settlement price of the completed
Project to the Contractor, excluding the Project Quality Defect Warranty Deposit which shall be withheld as prescribed by the Project
Quality Defect Warranty therein.

 

If the Employer fails
to pay the settlement price of the completed Project within 14 days after the identification of the Certificate of Payment upon
Completion of Work without any justified reasons, it shall be subject to liabilities for breach of the Contract and shall pay the
loan interest of the overdue project price which is calculated at the loan rate for the same period as provided by the bank from
the 15th day. The Contractor may remind the Employer of paying the settlement price. If the Parties enter into Late Payment Agreement,
the Employer shall pay the interest for overdue project price which is calculated at the loan rate for the same period as provided
by the bank; if the Parties do not enter into Late Payment Agreement, and the Employer fails to make payment 14 days after it received
the reminder, then the Contractor may dispose of the retained Leased Premise, or bring a payment bond claim against the Guarantor,
or convert the Project into money or sell it at auction after signed a relevant agreement with the Employer, under this circumstance,
the Contractor shall have priority in satisfying its claim from the proceeds of auction or sale of the Project.

 

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Breach of contract:

 

If the Employer refuses
to fulfill its obligations under the Contract or fails to fulfill its obligations as per the provisions in the Contract, the Employer
shall be liable for breach of contract, compensate for relevant losses caused to the Contractor and postpone the construction period.
The Employer shall be liable for breach of contract according to Special Conditions upon the occurrence of certain circumstances
prescribed in the Agreement.

 

If the Contractor refuses
to fulfill its obligations under the Contract or fails to fulfill its obligations as per the provisions in the Contract, the Contractor
shall be liable for breach of Contract and compensate for relevant losses caused to the Employer. The Contractor shall be liable
for breach of contract according to Special Conditions upon the occurrence of certain circumstances prescribed in the Agreement.

 

Unless otherwise specified,
if the Contractor or the Employer violates the Contract and the other Party requires the defaulting party to continue to perform
the Contract, the defaulting party shall continue to perform the Contract after bearing the aforesaid liabilities for violation
of the Contract.

 

Claims:

 

If the Employer or
the Contractor brings a claim against the other Party, the claim must be supported by reasonable reasons and valid evidences collected
at the time of the occurrence of the claim event. The Party which brings a claim against the other Party shall record the event
at the time of the occurrence of the claim event, so as to certify the claim and allow the other Party or the Engineer to refer
to all the records.

 

If the Employer/the
Contractor fails to fulfill its obligations as per the provisions in the Contract, takes wrong actions, or shall be liable under
certain circumstance, leading to losses to the Contractor/the Employer and/or postponed construction period, the Contractor/the
Employer may bring a claim against the Employer/the Contractor according to the procedures set forth in the Agreement. The Engineer/the
Contractor shall verify the claim report and relevant materials submitted by the Contractor/the Employer, negotiate with the Contractor/the
Employer and send the documents to the Employer/the Contractor for approval, then determine the amount of compensation which shall
be paid during the same period in which the project price is paid, and determine the postponed construction period and extend the
construction period.

 

Dispute:

 

Any dispute arising
from the Contract or related to the Contract may be settled by the Parties through reconciliation or be submitted to the Guangdong
Mediation Center and be mediated in Shenzhen. If the dispute can be settled through reconciliation or mediation, the Contractor
and the Employer shall execute Reconciliation Agreement in writing and may submit the Reconciliation Agreement to the court with
jurisdiction where the Project is located and file a lawsuit. Where one party is unwilling to mediate or both Parties fail to settle
the dispute through mediation, the dispute shall be settled through arbitration as prescribed by Special Conditions or through
filing a lawsuit.

 

If the Parties have
disputes, they shall continue to perform the Contract to maintain continuous construction and protect the completed Project, unless
any one of the following cases occurs:

 

		(1)	One party violates the Contract, making it impossible to perform the Contract, and the Parties enter into an agreement to terminate
the construction.

 

		(2)	The mediation requires termination of the construction, and it is accepted by the Parties.

 

		(3)	The arbitration institution requires termination of the construction.

 

		(4)	The court requires termination of the construction.

 

Execution and termination of the Contract:

 

The Employer and the
Contractor shall specify in the Agreement the conditions that enable the Contract to take into effect.

 

Except for Article
38 (dispute) and Article 39 (liabilities for defects) thereof, the Contract shall be terminated after the Employer and the Contractor
perform all obligations provided therein, the completed Project has been handed over and accepted and the settlement price of completed
Project is paid up.

 

    	 	9	 

     

    

 

Upon termination of
the rights and obligations provided therein, the Employer and the Contractor shall perform the obligations for notice, assistance
and confidentiality in good faith.

 

Cancellation of the Contract:

 

The Contract may be
canceled upon mutual agreement between the Employer and the Contractor.

 

In the case of the
occurrence of conditions prohibited by Article 13 and Article 14 of General Conditions, i.e. the Contractor transfers the whole
contract project or any part of the project to a third party or subcontract the whole contract project, the Employer is entitled
to cancel the Contract.

 

The Employer and the
Contractor may cancel the Contract if the Contract cannot be performed due to Force Majeure, or it is impossible to perform the
Contract due to breach of contract by either Party (including suspension or postponement due to the reasons of the Employer).

 

Upon cancellation of
the Contract, the Contractor shall properly protect and hand over the completed Project and the purchased materials and equipment,
and withdraw its machinery and personnel from the Construction Site as required by the Employer. The Employer shall provide the
Contractor with convenience for such withdrawal, pay the above expenses and make the payment for the completed Project as agreed
therein. The ordered materials and equipment shall be returned by the ordering party or the order contract shall be canceled, and
the losses caused by failure to return goods in a timely manner shall be undertaken by the responsible party. The payment for goods
that cannot be returned and the expenses for the return of goods or the cancellation of the order contract shall be borne by the
responsible party; however, if the cancellation of contract is caused by force majeure, such expenses shall be undertaken by the
Employer. In addition, the Party with fault shall compensate for the losses incurred to the other Party arising from the cancellation
of the Contract.

 

The cancellation of
the Contract shall not affect the effect of the settlement and liquidation clauses as agreed by the Employer and the Contractor
therein.

 

Employer:

 

Shenzhen Xunlei Networking Technologies
Co., Ltd. (Seal)

 

	By:	/s/Kening Wu	 

 

Legal representative: Kening Wu

 

/s/ Seal of Shenzhen Xunlei
Networking Technologies Co., Ltd.

 

Contractor:

 

China Construction Second Engineering Bureau
Ltd.  (Seal)

 

	By:	/s/Jianguang Chen	 

 

Legal/authorized representative: Jianguang
Chen

 

/s/ Seal of China Construction Second
Engineering Bureau Ltd.

 

    	 	10Exhibit 4.35

 

Financing Agreement

 

The Company: Shenzhen Xunlei
Networking Technologies Co., Ltd. (hereinafter referred to as “Party A”)

 

Main business address: 7-8/F, Building
11, Shenzhen Software Park, Keji 2nd Road Middle, Nanshan District, Shenzhen, Guangdong

 

	Contact person: Wu Zhenchao	Tel.: ***********

 

Bank:
Shanghai Pudong Development Bank Co., Ltd., Shenzhen Branch (hereinafter referred to as “Party B”)

 

Main business address: 1, 2, 25
and 26/F, Shenzhen ICC Tower, Fuhua 3rd Road, Futian District, Shenzhen, Guangdong

 

	Contact person: Liu Yang	Tel.: ********

 

Pursuant to relevant
laws and regulations, the following agreement (hereinafter referred to as “this Agreement”) is made and entered into
by and between Party A and Party B on the basis of equality, mutual benefits and voluntariness after reaching consensus via negotiation:

 

Part One: General Terms and Conditions

 

1. Agreement:
Refer to any or all documents signed by and between Party A and Party B within the service term of amount, including agreement
on amount change (see Appendix 1 for the format) and financing attachments, they shall serve as an indispensable part of this Agreement
and shall be read together with this Agreement.

 

2. Amount: For
the purpose of this Agreement, the service term of amount refers to the service term of amount specified in the financing amount
sheet (refer to Part two of this Agreement) or the service term of amount explicitly specified in any valid agreement on amount
change concluded by and between Party A and Party B (subject to the one signed later). Party A shall apply to Party B for using
the financing amount within the service term of amount. Where Party A brings forth any application beyond the term stated above,
Party B may refuse its application no matter whether the financing amount has been used up.

 

3. Amount Change:
In case of any discrepancy between the terms stated herein and the financing amount sheet, the latter (including the changes of
financing amount sheet made by Party A and Party B in the form of agreement on amount use change from time to time) shall prevail.
If any financing attachment concluded by and between Party A and Party B within the service term of amount is in conflict with
the provisions of this Agreement, the former shall apply to the business involved in the financing attachment.

 

Notwithstanding the
regulations above, if Party B believes that it is necessary, it can, for the purpose of ensuring the safety of creditor’s
rights, inform Party A that the financing under any financing attachment becomes mature in advance. In such case, Party A shall
repay the financing fund with no delay. For the L/C, L/G/SLC, bank acceptance opened by Party B as per Party A’s application,
Party A shall make up the margin to 100% without any delay.

 

4. Financing:
As per the provisions of this Agreement and any financing attachment, Party A can, within the financing amount and term, apply
to Party B for providing credit financing (collectively known as “financing”). The specific applicable financing variety
shall be subject to the financing amount sheet. Party B’s commitment on the financing amount under this Agreement can be
divided into revocable and irrevocable commitments. For the revocable commitments, Party B can (is not obliged to) provide financing
for Party A; for irrevocable commitment, Party B performs the commitment under this Agreement on the basis that the amount use
specified in this Agreement can be met and both parties specify other preconditions for the specific business.

 

5. Financing Attachments.
For the purpose of this Agreement, financing attachments refer to the documents signed by Party A, including but not limited to:

 

(1)          For
loans, attachments refer to any other loan documents that may be signed with Party A, including contract on working capital loan
and contract on fixed assets loan;

 

    	 		 

     

    

 

(2)          For
notes discounted, attachments refer to agreement on notes discounted and any other documents that may be signed with Party A.

 

(3)          For
trade acceptance discount, attachments refer to the agreement on trade acceptance discount and any other documents that may be
signed with Party A.

 

(4)          For
factorage financing, attachments refer to the agreement on factorage financing and any other documents that may be signed with
Party A.

 

(5)          For
L/C (including domestic L/C) export bill purchase and outward bills purchased under collection, attachments refer to the agreement
on export bill purchase and outward bills purchased under collection and any other documents that may be signed with Party A.

 

(6)          For
L/C advance against inward documentary bills, attachments refer to the agreement on advance against inward documentary bills and
any other documents that may be signed with Party A.

 

(7)          For
packing loan, attachments refer to the agreement on packing loan and any other documents that may be signed with Party A.

 

(8)          For
the opening of L/C, attachments refer to the agreement on the opening of L/C and any other documents that may be signed with Party
A.

 

(9)          For
the opening of L/G and SLC, attachments refer to the agreement on the opening of L/G and SLC.

 

(10)        For
the opening of bank acceptance, attachments refer to the agreement on the opening of bank acceptance and any other documents that
may be signed with Party A.

 

(11)          Other
financing documents signed by and between Party A and Party B. for Party A’s application related to the use of financing
amount, Party B shall issue financing fund to Party A according to the conditions stipulated in this Agreement and financing attachments
and/or issue a letter of commitment at the request of Party A as long as the application satisfies the provisions of this Agreement
and the requests proposed by Party B. However, Party B shall not cancel or change the financing application/agreement that it has
signed or submitted; otherwise, Party A shall pay Party B’s costs, fees and losses caused by its cancellation or change of
application/agreement.

 

6. Document Submission.
Party A shall provide Party B with the following documents or satisfy the corresponding conditions prior to the signature of this
Agreement or at the request of Party B.

 

(1)          Copies
of Party A’s latest articles of association and business license;

 

(2)          Board
resolution on authorizing Party A to sign this Agreement and relevant financing attachments;

 

(3)          Party
A’s power of attorney for the authorized representative and signature specimen of the authorized agent;

 

(4)          All
financing attachments signed by Party A legally based on Party B’s requirements; and

 

(5)          Other
documents and/or conditions required by Party B.

 

7. Preconditions
of Amount Use. Party A must satisfy the following conditions on the amount use:

 

(1)          Party
A has normal production and operation activities, favorable financial conditions and has no deteriorated business conditions in
the recent three years;

 

(2)          Party
A has no violation event explicitly specified in the financing agreement;

 

(3)          If
the business under this Agreement is guaranteed, the corresponding guarantee documents have been signed and become valid, necessary
mortgage/pledge registration formalities have been finished and guarantee right has been established before Party B develops the
specific business;

 

(4)          Party
A’s explicit amount use plan. The factors and conditions of the specific business application conform to Party B’s
relevant rules and systems and requirements for credit conferring examination and approval as well as the requirements for handling
the specific financing business;

 

(5)          Party
A has provided its information and statements regarding its production, business and financial activities and commits to provide
and accept Party B’s supervision and inspection within the term of this Agreement in time;

 

(6)          The
amount to be used does not exceed the rest balance of the amount;

 

    	 		 

     

    

 

(7)          Party
A’s specific business application shall be proposed within the limit of amount use; the day when fund is released or when
Party B is required to open L/C, L/G/SLC and bank acceptance or other businesses are developed must be Party B’s working
days;

 

(8)          Other
preconditions required by Party B (if any; see “Other Matters as Mutually Agreed” in Part 2).

 

8. Amount of Financing
Occupied. It refers to the sum of financing funds that Party B has been issued to Party A at all times as per this Agreement
and financing attachments and that Party A has not repaid as well as the amount of the commitment issued at the request of Party
A and excludes the fund that has been paid to Party B by Party A or Party A’s guarantor in the form of cash pledge (including
margin), unless otherwise specified.

 

9. Revolving.
For the revolving financing amount, the financing amount occupied by the amount involving the obligations that have been performed
will be recovered after Party A finishes performing the obligations under this Agreement and financing attachments (including repaying
the financing fund, making up 100% margin or Party B’s discharge from the external payment liabilities). Party A can, within
the service term of amount specified in this Agreement, apply to Party B for using financing amount continuously. The non-revolving
financing amount cannot be recovered once occupied, unless otherwise agreed by Party B. Party B is entitled to review Party A’s
conditions and the collateral per year, unless otherwise specified. If Party A passes the review, it can use the financing amount
next year continuously; otherwise, Party B is entitled to cancel Party A’s financing amount at the beginning of next year.
In such case, except for the financing attachments that have become valid, the financing amount that has not been used yet and
will be returned in future will not be used any longer.

 

10. Guarantee.
If the financing amount under this Agreement is guaranteed, Party A shall apply for financing as per this Agreement on the basis
that the guarantee document has been signed and come into effect. If the financing amount sheet requires the proportion of margin
for opening L/C, L/G/SLC and bank acceptance, Party A can open the above on the basis that the margin in the aforesaid proportion
has been paid off. Where Party A plans to apply for the change of financing amount, which leads to the increase of the amount,
Party A shall provide more guarantee or urge the guarantor to confirm the change and provide more guarantee. For the financing
amount that can be used continuously in the next year after Party B’s review, Party A shall ensure the guarantee will remain
valid continuously at the request of Party B.

 

11. Taxation.
Party A shall repay the financing fund under this Agreement in full amount without any deduction, unless it is required to deduct
relevant taxes when making repayment as per laws. If Party A must deduct relevant taxes as per laws, it shall provide Party B with
duty-paid proof within 15 (fifteen) days after making deduction. At the same time, Party A shall pay extra fees to Party B until
the funds received by Party B are equal to the amount that Party B shall receive without any deduction.

 

12. Statement and
Guarantee. Party A hereby makes the following statements and guarantees which are seen to be made by Party A repetitively per
time when Party B provides Party A with financing as per this Agreement and financing attachments and shall always remain valid.

 

(1)          Party
A is the enterprise (public institution) legal person or other economic organization duly established as per applicable laws and
enjoying independent legal person qualification and complete financial system and repayment capacity, has the rights to conclude
and perform this Agreement as per laws, sign this Agreement and any document related to this Agreement and has taken all necessary
company behaviors to make this Agreement and any document related to this Agreement legal, valid and executable forcefully;

 

(2)          Party
A signs this Agreement and performs its obligations under this Agreement without violating any other contract or document it has
signed, the company’s articles of association, any applicable law, regulation or administrative order, relevant documents,
judgment or ruling of competent authority or conflicting any other obligation or arrangement it shall follow.

 

(3)          Party
A and any shareholder or associated company of Party A are not involved in any liquidation, bankruptcy or reorganization program
or is not merged, combined, separated, reconstructed, dissolved, shut down or does not enter similar legal programs or any case
that may lead to such legal procedures.

 

(4)          Party
A does not involve any economic, civil, criminal, administrative proceeding or similar arbitration procedure that may exert adverse
influence on it or any case that may lead to its involvement in such legal procedure or similar arbitration procedure.

 

(5)          No
any major assets of Party A’s legal representative, director, director or other senior managers and its client are executed
forcefully, sealed up, detained, frozen, retained or supervised or involve any case that may lead to the consequence above.

 

    	 		 

     

    

 

(6)          Party
A ensures all the financial statements it issues (if any) conform to the applicable laws and reflect its financial conditions truthfully,
completely and fairly; all the documents, data and information it provides for Party B about itself and the guarantor when signing
and performing this Agreement are authentic, valid, accurate and complete and do not conceal or omit anything required.

 

(7)          Party
A deals with all matters applicable under laws and regulations, develop business based on the scope of business specified in its
business license or approved as per laws and go through registration and annual check formalities in time;

 

(8)          Party
A has disclosed the facts and conditions that it knows or shall know and based on which Party B decides whether granting the credit
under this Agreement to Party B (including but not limited to business, finance and external guarantee).

 

(9)          Party
A’s internal management documents related to environment and social risks conform to laws and regulations and have been implemented
faithfully.

 

(10)          Party
A ensures it has no any other case or event that causes or may cause major adverse influence on its performance capacity.

 

13. Commitment.
Party A makes the following commitments which are seen to be a new commitment made by Party A repetitively each time when Party
B provides financing for Party A as per the provisions of this Agreement and financing attachments and shall always remain valid.

 

(1)          Party
A shall abide by and perform all its obligations under this Agreement and financing attachments strictly;

 

(2)          Party
A shall repay the financing fund or payment made in advance in time as per the provisions of this Agreement and financing attachments
or make up 100% margin at the request of Party B, unless otherwise specified in this Agreement or financing attachments. Party
A shall apply for, obtain and abide by all the approvals, authorizations, registrations and licenses required as per the applicable
laws and regulations and always make them valid so that it could sign and perform the obligations specified in this Agreement and
any document related to this Agreement lawfully. As long as Party B requires, Party A shall issue relevant certificates without
any delay;

 

(3)          Within
5 (five) Party B’s working days upon knowing its involvement in any economic, civil, criminal, administrative proceeding
or similar arbitration procedure which may exert adverse influence on itself or within 5 (five) Party B’s working days upon
knowing any of its assets may be executed forcefully, sealed up, detained, frozen, retained or supervised, Party A shall inform
Party B in writing and state the detailed influence and remedial measures it has taken or will take;

 

(4)          Without
Party B’s written consent, Party A shall not provide guarantee which exerts major adverse influence on its financial conditions
or capacity of performing the obligations under this Agreement for a third party;

 

(5)          Without
Party B’s written consent, Party A shall not repay other long-term debts in advance by exerting major adverse influence on
its capacity of performing the obligations under this Agreement;

 

(6)          From
the date when this Agreement is concluded to the full repayment of debts under this Agreement and financing attachments, without
Party B’s written consent, Party A shall not:

  

1          enter
liquidation, reconstruction or bankruptcy procedure, be merged, combined, separated, reorganized, dissolved, shut down or go out
of business or involve other similar legal procedures; 

 

2          sell,
rent out, bestow, transfer or dispose in other ways any of its important assets, except for the daily business demand;

 

3          change
its equity structure;

 

4          sign
any contract/agreement exerting major adverse influence on its capacity of performing the obligations under this Agreement or bear
related obligations that may exert the influence above.

 

(7)          If
the guarantee under this Agreement involves a special case or is changed certainly, Party A shall provide other guarantee recognized
by Party B based on Party B’s requirements. The said special case or change includes but not limited to the guarantor’s
production suspension, business shutdown, dissolution, business suspension for rectification, revoking or cancellation of business
license, application or passive application of reorganization, bankruptcy, substantial change of business or financial conditions,
involvement in major lawsuit or arbitration, lawsuit, arbitration or other compulsory measures against legal representative/person
in charge, depreciation or possible depreciation of collateral, seal-up and other property preservation measures, violation of
the guarantee contract and request for terminating guarantee contract.

 

    	 		 

     

    

 

(8)          Party
A shall also go through notarization with compulsory execution effect from the notary organ recognized by Party B at the request
of Party B and agrees to accept the compulsory execution voluntarily;

 

(9)          Party
A shall inform Party B, at all times, of the event that may influence its capacity of performing the obligations under this Agreement
and any document related to this Agreement.

 

(10)        Special
provisions on group client (applicable to group clients).

 

If Party A to this
Agreement is a group client, Party A hereby commits:

 

1          Party
A shall report the associated transactions which are above 10% of the actual addressee’s net assets in time, including a.
association of all transaction parties; b. transaction project and transaction nature; c. amount or the corresponding proportion
of transaction; d. pricing policy (including the transaction with no amount or with symbolic amount).

 

2          If
the actual addressee has any of the following cases, Party A is seen as a breach of this Agreement. In such case, Party B is entitled
to decide if cancelling the credit that Party A has not used yet unilaterally and collect the credit used partially or wholly or
ask Party A to make up the margin to 100%. a. The addressee provides false materials or conceals major business and financial information;
b. The addressee changes the original credit purpose, embezzles credit or uses bank credit to engage in illegal transactions arbitrarily
without Party B’s consent; c. The addressee extracts bank capital or credit at Party B’s site by discount or pledging
in virtue of false contract among associated parties and with creditor’s rights with no trading background such as notes
receivable and accounts receivable; d. The addressee refuses to accept Party B’s supervision and inspection of its use of
credit capital and relevant business and financial activities; e. The addressee is merged, purchased or reorganized substantially,
which Party B deems probably influential to the credit safety; f. The addressee avoids bank creditor’s rights purposefully
by connected transaction.

 

(11)        Special
provisions, commitment and conventions on green credit (applicable to the clients whose construction, production and operation
activities of nuclear power station, large hydropower station, water conservancy project and resources mining project may change
the original environment status and generate serious environment and social consequences that could hardly be eliminated as well
as the clients whose construction, production and operation activities of petroleum refining, coking, nuclear fuel processing,
chemical raw materials and manufacturing of chemical products which lead to serious environment and social consequences that could
be eliminated through mitigation measures):

 

1          Party
A declares and ensures it will manage the environment and social risks, including a. environment and social risk related internal
management documents conform to the laws and regulations and will be performed in good faith; b. there is no any major lawsuit
case related to environment and social risks.

 

2          Party
A commits it will accept Party B’s supervision and strengthen environment and social risk management, including a. Party
A commits that all the behaviors and performances related to environment and social risks conform to the requirements; b. Party
A commits it will establish and improve the internal management system regarding environment and social risks, and has specified
the measures on the responsibilities, obligations and punishment of its relevant responsible persons; c. Party A commits that it
will establish and improve the emergency mechanism and measures on environment and social risk emergencies; d. Party A commits
that it will designate a special department and/or person to take charge of environment and social risks; e. Party A commits that
it will coordinate with Party B or a third party recognized by Party B to assess and check its environment and social risks; f.
Party A commits it will give response actively for the big doubts on its control environment and social risks from the mass or
other interest related parties; g. Party A commits that it will urge its critical associated parties to strengthen management to
prevent their environment and social risks from affecting clients; h. Party A commits that it will perform other matters that Party
B believes associated with control environment and social risks. 

 

3          Party
A commits it will report any of the following cases to Party B in time and sufficiently upon their occurrence: a. licenses, approvals
and checks related to environment society and risks in the process of commencement, construction, operation and shutdown; b. assessment
and check of Party A’s environment and social risks by environment and social risk supervision agency or the organ that the
agency recognizes; c. construction and operation of supporting environment facilities; d. pollutant emission and objective; e.
employees’ safety and health; f. major complaint and protest against the environment and social risks by adjacent communities;
g. major environment and social claims; h. other major cases that Party B believes associated with environment and social risks.

 

    	 		 

     

    

 

4          Party
A is seen as a breach of this Agreement if Party A and its actual credit grantor involve any of the following cases: (a) Party
A’s statements, warranties and representations related to environment and social risks are not performed earnestly; (b) Party
A is subjected to the punishment of relevant government organs due to its improper environment and social risk management; (c)
Party A is queried by the mass and/or media due to its improper environment and social risks management; (d) other events of default
related to environment and social risks management as specified by Party B and Party A, including cross default.

 

If Party A involves
any of the events of default above, Party B can unilaterally decide if (a) cancelling the commitment of credit granting it has
been made; (b) suspending the allocation of loan until Party A takes the remedial measures that satisfy Party B; (c) collecting
the loan issued in advance; (d) exercising relevant mortgage and pledge rights and other punishment measures in advance when Party
A cannot repay the loan; (e) other punishment measures specified by Party A and Party B.

 

(12)         Party
A/the guarantor hereby agrees and irrevocably authorizes Party B to submit the information of all contracts/agreements/commitments
concluded by Party A/the guarantor and Party B, including the information about the performance of the said contracts/agreements/commitments,
as well as the basic enterprise information and other information provided by Party A/the guarantor, for the financial credit information
database set up by the state according to the database requirements without prejudice to the prohibitive provisions of Regulations
on the Management of Credit Investigation and other relevant laws and regulations so that the institutions eligible for query
could query and use it. At the same time, Party B is also entitled to query and use the credit information about Party B/the guarantor
included in the financial credit information database set up by the state. The authorization covers all links of Party B’s
necessary business management under this Agreement prior to and after the signature of this Agreement and remains valid until this
Agreement is terminated.

 

(13)        Party
A hereby acknowledges that it has fully understood and known Party B’s provisions on the banning of its employees’
pursuit of personal interests in any form in virtue of its post and commits that it will avoid the case above in an honest and
fair manner and will not provide Party B’s employees with kickback, cash gift, securities, valuable articles, awards, compensation
of private fees, private tourism, high consumption recreation and other unjust interests in any form privately.

 

14. Fees and Expenses:
Party A shall pay relevant fees and taxes as per laws, regulations and this Agreement.

 

15. Default Interests.
Both parties shall specify the default interests against financing under this Agreement and default interests against embezzlement
of loan and its charging rules via negotiation in the financing amount sheet or financing attachments.

 

16. Conversion of
Exchange Rate. In case of calculating the amount used, if the financing currency is not in consistent with the currency of
financing amount, Party B has the rights to convert them based on its relevant exchange rate. Where the change of exchange rate
makes the sum of financing amount used under this Agreement exceed the maximum financing amount above, Party B has the rights to
ask Party A to repay the exceeding the loan. If the currency of repayment made by Party A (including authorized repayment) is not
in consistency with the financing currency, Party B has the rights to make repayment by purchasing foreign exchange based on its
exchange rate and the exchange rate risks arising therefrom shall be borne by Party A.

 

17. Authorized Repayment
and Offset. Party A hereby authorizes Party B to, on behalf of Party A, deduct fund from any account it opens at Shanghai Pudong
Development Bank Co., Ltd. (whatever the currency) against any mature debt not paid by Party A no matter whether the debt is under
this Agreement or the financing attachments, so that Party B can use the fund for repaying the debts. The authorization is irrevocable.
In case of conversion of exchange rate, Party B shall make conversion based on its exchange rate determined and the risks of exchange
rate shall be borne by Party A.

 

18. Debt Certificate.
Party B will maintain a set of account book and voucher related to the business activities specified in this Agreement and financing
attachments inside its account according to the business operation criteria that it always follow. Except for the obvious errors,
Party A acknowledges that the records of relevant accounts and vouchers or other valid evidentiary materials are the valid certificates
of Party A’s debts.

 

19. Transfer.
Party A shall not transfer any of its right or obligation under this Agreement. Party B can transfer any of its right or obligation
under this Agreement to a third party at all times and disclose any information related to this Agreement to the third party, including
any information provided by Party A and its guarantor for Party B for the purpose of this Agreement.

 

    	 		 

     

    

 

20. Information
Disclosure. Party A agrees, besides the disclosures allowed in Article 19 hereof, Party B can also disclose any information
related to this Agreement to its head office, branches, associated agencies or the personnel employed by them. At the same time,
Party B can also make disclosure as per the requirements of any law and regulation and the requirements of supervision department,
government organ or judicial organ.

 

21. Breach of this
Agreement. Party A is seen as a breach of this Agreement and financing attachments if Party A violates any statement or guarantee
of this Agreement or the statement or guarantee proves to be incorrect, false, misleading or have omissions or has been breached,
and/or Party A violates or refuses to perform any matter committed under this Agreement, and/or Party A violates this Agreement
or any financing attachment under this Agreement, and/or Party A involves any case that may affect the safety of Party B’s
loan, and/or the guarantor violates any guarantee document. In such case, Party B, besides asking Party A to compensate all the
losses thus caused, such as attorney fees, is also entitled(but is not obliged to) take the following measures separately or at
the same time:

 

(1)          Adjust
or cancel the financing amount under this Agreement;

 

(2)          Declare
the debt specified in any financing attachment under this Agreement becomes mature in advance, either in part or in whole, and/or
terminate this Agreement and all or part of financing attachments; ask Party A to repay the financing capital and pay interests
with no delay, either partially or wholly; as for the acceptance draft that has been realized or L/C, L/G/SLC opened by Party B
within the service term of amount, Party B can ask Party A to pay more margin or transfer Party A’s deposit or its deposit
in settlement account to its margin account for the purpose of external payment or margin paid for Party A probably in future.
If Party B has paid relevant funds in advance, it can request Party A to make repayment immediately;

 

(3)          Calculate
interests based on the default interest rate specified in this Agreement or in financing attachment and charge compound interests
against the interests that shall have been paid;

 

(4)          Deduct
Party A’s deposit at any of its accounts opened at Party B’s site as per the provisions of Article 17 hereof.

 

22. Applicable Laws
and Judicial Jurisdiction. This Agreement shall be governed and interpreted by the laws of the People’s Republic of China
(excluding Hong Kong and Macao Special Administrative Region and Taiwan, for the purpose of this Agreement). Any dispute in relation
with the performance of this Agreement shall be resolved by both parties via negotiation. If, however, negotiation fails to solve
the dispute, both parties agree to file a lawsuit to the people’s court at the site of Party B. While the dispute is being
resolved, all parties shall perform the non-disputable terms continuously.

 

23. Address for
Service of Lawsuit. Party A hereby acknowledges that all the lawsuits under this Agreement, and legal documents sent to it in course
of lawsuit such as summons and notices are sent to reach Party A as long as they are sent to the address specified at the beginning
of this Agreement. In case of changing the address above, Party A shall inform Party B in advance. Otherwise, the address changed
arbitrarily does not apply for Party B.

 

24. Notice.
Notice sent by either party to the counterparty shall be sent to the address at the beginning of this Agreement, unless the receiving
party changes its address by sending a written notice to the sending party. The notices sent to the address above are seen to reach
the receiving party on the following date: Notices sent via registered letter are seen to reach the receiving party on the 7th
(seventh) Party B’s working day. Notices sent via a specially-assigned person are seen to reach the receiving party when
the recipients receive them; notices sent via fax or e-mail are seen to reach the receiving party on the date of sending. However,
all notices, requirements or other communications sent or delivered to Party B are seen to reach Party B when Party B receives
them. For all notices sent to Party B via fax or e-mail, Party A shall submit their originals (stamped with official seal) to Party
B face to face or mailing for confirmation afterwards.

 

25. Severability
of Term. Any term judged invalid, illegal or non-executable forcefully in this Agreement or any financing attachment does not
influence the validity, legality and forceful execution of other terms stated therein.

 

26. Term of Grace.
Where Party B grants a term of grace or postpones an action against Party A’s breach of this Agreement or other behaviors
during the whole term of this Agreement, it does not impair, influence or restrict Party B from enjoying all the rights or interests
as the creditor as per laws or this Agreement or mean recognizing Party A’s breach of this Agreement or Party B’s waiving
of the rights to take actions against Party A’s existing or future violation behaviors.

 

    	 		 

     

    

 

27. Relationship
between Previous Credit Granting and this Agreement. Unless otherwise specified by both parties, if Party A and Party B have
concluded a credit granting agreement under which the business has not been settled since the validity of this Agreement, the business
will be included in this Agreement and occupy the credit amount under this Agreement directly. Party A commits it will ask for
the confirmation of the guarantor under the former credit granting agreement for the debts under this Agreement continuously at
the request of Party B.

 

28. Validity.
This Agreement comes into effect once signed (or sealed) by Party A’s legal representative or authorized agent and stamped
with official seal and signed (or sealed) by Party B’s legal representative or authorized agent and stamped with official
seal. Unless Party B cancels the financing amount entirely and Party A no longer has any financing or debt balance under this Agreement
and all financing attachments, this Agreement will remain valid permanently.

 

(End of Part
One)

 

    	 		 

     

    

 

Part Two: Commercial Terms (Financing
Amount Sheet)

 

	Party A: Shenzhen Xunlei Networking Technologies Co., Ltd.
	Descriptions of financing amount
	Sum (currency) of financing amount	RMB 400 million	Service term of amount	From March 2, 2018 to March 1, 2021
	Mode of amount revolving	xRevolving;                        þNon-revolving;                         xOthers                        
	Nature of amount	þRevocable commitment                       xIrrevocable commitment
	The guarantor that provides guarantee for the debt under this Agreement and guarantee contract include but not limited to:
	Guarantor	Shenzhen Xunlei Networking Technologies Co., Ltd.	Mode of guarantee	þMortgage ; xPledge;     xGuarantee
	Guarantor 	 	Mode of guarantee	 ̈Mortgage;   ̈Pledge;     ̈Guarantee
	Guarantor 	 	Mode of guarantee	 ̈Mortgage;   ̈Pledge;     ̈Guarantee
	Margin proportion for different businesses	
        

 ̈Discount                                         %;

 ̈L/C
opening                                    %;

 ̈
Bank note opening                       %;

 ̈Opening
of L/G/SLC                      %;

 ̈Others                                             

	
        Applicable financing varieties and
        amount condition

        (tick the variety chosen with “√”
        and delete inapplicable ones with “×”)

	 	Applicable financing variety	Amount (sum and

currency)	Interest

rate/rate	Longest term per

business	Remarks
	 ̈	 ̈Loan 	 	 	 	 
	 	 ̈Working capital loan	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 

    	 		 

     

    

 

	 	 ̈Fixed assets loan	 	 	 	 
	 	 ̈Trade financing	 	 	 	 
	 	 ̈Opening of bank acceptance	 	 	 	 
	 	 ̈Trade acceptance discount (including negotiated interest payment)	 	 	 	 
	 	 ̈Bank notes discount	 	 	 	 
	 	 ̈Trade acceptance discount (client is acceptor)	 	 	 	 
	 	 ̈Factor financing	 	 	 	 
	 	 ̈Opening of L/C (including usance letter of credit payable at sight)	 	 	 	 
	 	 ̈Advance against inward documentary bills (under L/C/ inward collection)	 	 	 	 
	 	 ̈Negotiation of export L/C	 	 	 	 
	 	 ̈Outward bills purchased under collection	 	 	 	 
	 	 ̈Packing loan	 	 	 	 
	 	 ̈Opening of L/G/SLC	 	 	 	 
	 	 ̈Import Refinance	 	 	 	 
	 	 ̈Financing of outward remittance	 	 	 	 
	 	 ̈Import security	 	 	 	 

 

    	 		 

     

    

 

	 	 ̈Domestic L/C buyer’s financing	 	 	 	 
	 ̈	 ̈ Others	 	 	 	 

	 
	Other matters as mutually agreed:
	 
	1.	The specific applicable financing variety or separate
amount and its adjustment under the maximum credit amount are subject to Party B’s approval.
	 
	2. 	The credit amount and its term are subject to annual
examination system, which means the re-approval of credit grantor/Party B is required upon the expiration of one-year period.
The use thereafter shall be based on the approval of credit grantor/Party B.
	 
	/s/
Seal of Shenzhen Xunlei Networking Technologies Co., Ltd.
	 
	/s/
Special Seal for Contract of Shanghai Pudong Development Bank Co., Ltd., Shenzhen Branch
	 
	 
	Special notes:
	 
	(1)        The sum of financing amount occupied by all applicable financing varieties shall not exceed the maximum financing amount. Where Party A requires the financing amount of one applicable financing variety applies independently instead of together with other applicable financing varieties, the amount of such applicable financing variety shall marked separately.
	 
	(2)        Party A is also the mortgagor or pledger, fill in “party concerned” or “Party A’s name” in guarantor column.
	 
	(3)        If RMB interest rate is an annual interest rate, the floating cycle should be marked for floating interest rate. Fill in “amount of single transaction” or “rate” in the rate column.
	 
	 
	This Agreement is executed in quintuplicate with Party A, Party B and mortgage registration authority holding one respectively with the same legal effect.
	 

 

(The remainder of this
page is intentionally left blank)

 

    	 		 

     

    

 

(This
page is intentionally left for signature and contains no text)

 

This Agreement is entered
into by and between the following two parties on January 2, 2019. Party A hereby acknowledges that prior to the signature
of this Agreement, both parties have explained and discussed in detail all the terms contained herein and have no doubt regarding
these terms. Both parties have also understood their respective rights and obligations and the legal meaning of terms regarding
restrictions of responsibilities and exception accurately.

 

	Party A (official seal)	 	Party B (official seal or special seal for contract)
	 	 	 	 	 
	By: 	/s/ Kening Wu	 	By:	
        /s/ Daoping Huang
	Legal representative or authorized agent (signature or seal)	 	Legal representative or authorized agent (signature or seal)
	 	 	 
	/s/
    Seal of Shenzhen Xunlei Networking Technologies Co., Ltd.	 	/s/
    Seal of Shanghai Pudong Development Bank Co., Ltd., Shenzhen Branch

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