Token economy rising: XUNCE (03317) is expected to join the "billion-dollar club" in AI.

The AI industry is officially transitioning from "subsidizing and burning money" to entering the "commercialization pricing era." XUNCE (03317), known as the "Token First Stock" by the market, is receiving positive news! Recently, GUOTAI JUNAN I has significantly raised its target price to 245 Hong Kong dollars per share for XUNCE. XUNCE is expected to become a new member of the AI "billion-dollar club." China's AI disrupts: Price advantage builds competitiveness Anthropic recently announced that it will block free access to third-party tools such as OpenClaw to Claude services, and the supply curve of high-quality Tokens is shifting left. Every high-value Token must now be bid clearly - professional, high-precision calls have stronger pricing power. Tokens are no longer "air," but "digital oil." At the same time, cloud providers' pricing signals are resonating in sync: giants like Amazon AWS, Tencent Cloud, Alibaba Cloud have successively raised prices, with the highest increase reaching 463%, and many large model platforms have ended free public beta testing. Since February this year, according to OpenRouter data, the Token consumption of Chinese AI companies such as DeepSeek and MiniMax has surpassed that of American competitors. The cost advantage of Chinese AI companies comes from lower energy costs and more efficient model architectures. Companies like MiniMax price each million output Tokens at only 2 to 3 US dollars, while Anthropic Claude Sonnet is around 4.5 roughly 15 US dollars - a gap close to six times. In the AI intelligent agent era, this advantage is further magnified. An AI intelligent agent can consume up to 20 million Tokens, while traditional chatbots like Siasun Robot&Automation only require about 30,000 Tokens, exponentially amplifying the cost difference between China and the US. The Chinese government has listed "computing and electricity synergy" as a national priority, included in the 2026 government work report, clearly linking energy policy with AI competitiveness. With low electricity costs, China's AI companies are provided with a unique cost advantage. On the software level, Chinese companies actively adopt efficient AI architectures. The pursuit of computing efficiency is partly due to the shortage of advanced chip supply caused by US export controls, but objectively, it has also driven Chinese AI companies to embark on a "efficiency-first" technological path, forming a unique competitive advantage. XUNCE is expected to enter the "billion-dollar club" for three main reasons Since January 2026, XUNCE's stock price has been unusually active. Investment banks are also optimistic, maintaining a "buy" rating on XUNCE. The valuation framework for XUNCE is undergoing a fundamental change, and the logic for the company to enter the "billion-dollar club" is clearer: 1. Vertical data = enhancer: XUNCE's years of accumulated high-quality vertical data in finance, telecommunications, and other industries have equipped each Token call with an enhancer. Using public data consumes Tokens in trial and error; using XUNCE's vertical data precisely burns Tokens in creating value. The former is a cost, the latter is an investment. 2. Restructuring of the industry chain "refinement layer" positioning: After Anthropic actively built walls, the pricing power of Tokens is concentrated. As the "refinement layer" connecting large models and vertical scenarios, upstream model manufacturers need to feed back XUNCE's industry data, and downstream customers cannot do without XUNCE's precise Token service. With mutual dependence, XUNCE's revenue share and pricing power will both increase. 3. Upgrading the valuation framework: In terms of business models, XUNCE achieved a transition from subscription-based and transaction-based to a Token payment model by 2025, aligning with Minimax, KNOWLEDGE ATLAS, and other large model manufacturers. This upgrade in business model signifies a deep connection between the company's revenue and customer value creation. XUNCE expects that as the demand for AI reasoning explodes, the Token payment model will gradually become a part of the company's revenue structure in the next two to three years, with the proportion expected to significantly increase. The market's valuation of XUNCE is shifting from the scale logic of "charging based on calls" to the quality logic of "unit Token profit x scarcity premium coefficient." As long as the unit Token revenue sharing rate increases, profit elasticity can be exponentially released. This is the core support for XUNCE's potential to enter the AI "billion-dollar club" and the consecutive upward adjustments in target prices by institutional research reports.