A young man has been found not guilty of murder but guilty of manslaughter over the fatal bashing of a high school student in a Melbourne laneway.

Shengliang Wan, 24, kicked and stomped on Longxiang 'Jeremy' Hu, 19, during a fight in the city's Chinatown on April 15, 2016.

Longxiang 'Jeremy' Hu died after being bashed in Melbourne's Chinatown.

Mr Hu, a Yarra Valley Grammar School student, suffered a fractured skull and bleeding on the brain, and died in hospital.

Wan had been on trial in the Supreme Court, and the jury delivered its verdict on Friday, finding him not guilty of murder, but guilty of the lesser charge.