HK Stock Market Move | XUNCE(03317) rose by over 18% in early trading and hit a new high again. The daily average number of words called in our country has increased tenfold in two years.

XUNCE (03317) rose over 18% in early trading, reaching a high of 275.8 Hong Kong dollars to once again set a new high. As of press time, it was up 14.03% at 265 Hong Kong dollars with a trading volume of 1.5 billion Hong Kong dollars. On the news front, recently, "token," a core term in the AI field officially named by the National Bureau of Statistics, has become a popular term on the internet. According to statistics, as of March this year, the daily use of tokens in China has exceeded 14 trillion, more than 1000 times the increase from early 2024. It is worth mentioning that in terms of business models, XUNCE achieved a transition from subscription-based and transaction-based to a token-based payment model in 2025. Currently, token fees account for 5%, and the company expects this proportion to rise rapidly to 20-30% by 2026. Guotai Haitong previously pointed out that the company's performance in 2025 was outstanding, with a doubling of revenue year-on-year. The core drivers came from the accelerated deployment of AI large models, the surge in data demand, and the company's data infrastructure and solutions penetrating multiple scenarios. The company upgraded its cooperation with core customers and saw a substantial increase in ARPU value. The bank believes that as AI large models accelerate their deployment in B-side enterprises, the demand for enterprise AI data governance is booming, leading to an exponential increase in token consumption. The company is actively exploring a tokenized payment business model, accumulating momentum for future revenue growth.