Huayang Lianzhong: "Magellan" has no mature business model. The company does not participate in the research and development of blockchain technology.

Huayang Lianzhong announced that on November 1st, the company released the “Magellan”, a user value realization platform that cooperates with Xunlei Chain. "Magellan" uses the Thunderbolt as the user value realization platform for the research and development of the underlying technology. The company conducts business on this basis and does not participate in the research and development of blockchain technology. There are still many uncertainties in the future development, market recognition and profit model of the platform. At present, the "Magellan" platform has not yet formed a mature business model, which will not have a direct impact on the company's operating performance.