The performance dark horse in the AI application sector + backed by the Hong Kong Stock Exchange Technology 100 Index, XUNCE (03317) has seen its value for passive fund allocation significantly highlighted.

Recently, XUNCE (03317) was included in the Hong Kong Stock Exchange Technology 100 Index constituents. The related changes will be implemented after the market closes on September 11, 2026, and will take effect from September 14. This is expected to bring stable institutional capital inflows to XUNCE and open up room for value re-evaluation. This inclusion has a more specific implication: among the Hong Kong-listed information technology companies that have disclosed their mid-year results for 2026 and have operating revenues of no less than 500 million RMB, XUNCE ranks first in revenue growth rate with a year-on-year increase of 389%. This is not just an index list change; it feels more like the capital market has begun to "see" the value of its AI data infrastructure. Amidst continued divergence in Hong Kong tech assets and the AI narrative gradually shifting from concept to performance verification, XUNCE has provided its answer with a mid-term report showcasing high growth and profitability. XUNCE has been deeply engaged in building key data capabilities for decades. For large models to truly enter enterprise scenarios, high-quality, real-time, structured, and governable data supply is essential. It is about transforming these complex data into foundational resources that enterprise AI can understand, access, and measure. This capability is already beginning to reflect in the financial reports. XUNCE's mid-term performance for 2026 shows that the company achieved approximately 967 million RMB in revenue in the first half of the year, a year-on-year increase of 389%; the net profit attributable to the parent company was about 72.5 million RMB, turning a loss of approximately 89.429 million RMB from the same period last year into a profit. In other words, XUNCE has not only achieved high growth but also crossed an important threshold of profitability verification. What is commendable about XUNCE is that it has not remained in the hustle of "AI concepts," but has transformed its technological capabilities into real business results through enterprise-level AI real-time data infrastructure, multi-industry replication, token business models, and overseas expansion. Furthermore, XUNCE's growth does not simply rely on project stacking; it is the result of releasing platform capabilities. Public data shows that the company's ARPU has risen from 1.64 million to 5.56 million RMB, a year-on-year increase of about 240%; customer retention has long been maintained at over 90%; and revenue per employee has grown by approximately 379% year-on-year. These indicators point to a trend: XUNCE is transitioning from project-based delivery to platform-based growth with higher reusability and efficiency. This is also the deeper meaning of its inclusion in the Hong Kong Stock Exchange Technology 100 Index. The Technology 100 Index focuses on Hong Kong-listed tech companies, emphasizing innovative attributes, growth capabilities, and market representation. XUNCE's inclusion means that the relatively "behind-the-scenes" capability of real-time data infrastructure is becoming an increasingly important evaluation dimension within Hong Kong's AI assets. If in the past, the market's view of AI focused more on models, computing power, and applications, then as AI enters the enterprise implementation phase, the importance of data infrastructure will be re-evaluated. Without stable, real-time, and accessible data, it is difficult for AI to truly penetrate complex scenarios in finance, telecommunications, energy, manufacturing, healthcare, Siasun Robot & Automation, and others. XUNCE extending its capabilities into multiple high-barrier industries is precisely validating the replicability of this set of underlying capabilities. From this perspective, XUNCE is not merely "included in the index," but rather "re-priced." It represents a shift in Hong Kong's AI investment logic: from chasing grand narratives to focusing on real income; from considering model parameters to paying attention to industry implementation; from expecting future profits to seeking companies that have successfully closed the business loop. Institutional views also reinforce this judgment. Public reports indicate that Deutsche Bank recently maintained its "Buy" rating on XUNCE, setting a target price of 351 HKD, expressing optimism about its token business model and vertical industry layout. Huatai also reiterated XUNCE's "Buy" rating, giving a target price of 239.11 HKD, believing that the accelerated growth of the token business will become an important driver of the company's revenue growth. From high growth in mid-term performance to achieving profitability for the first time in the first half of the year, and then to being included in the Hong Kong Stock Exchange Technology 100 Index, XUNCE is completing a clear market debut. It shows the outside world that AI commercialization is not just a distant imagination; it can also be a reality verified by orders, revenue, gross profit, and profits.