HK Stock Market Move | UNISOUND (09678) surged over 21%. The commercialization of large models is accelerating comprehensively, and the Token business in the first half of the year has skyrocketed by 760% year-on-year.

UNISOUND (09678) surged over 21% and as of the time of writing, is up 18.98%, priced at HKD 93.1, with a trading volume of HKD 429 million. On the news front, UNISOUND recently disclosed its mid-year performance for 2026, indicating that it achieved revenue of RMB 562 million in the first half of the year, a year-on-year increase of 38.7%. Among this, revenue from its smart entity business reached RMB 478 million, marking a 35.7% growth, maintaining robust growth in its core operations. During this period, the large model Token business accelerated significantly, with revenue nearing RMB 30 million, a year-on-year rise of 760%. Notably, the revenue for the second quarter alone exceeded RMB 25 million, with a sequential growth of over 500%, becoming a new growth engine for the company. In the first half of this year, the proportion of repurchase revenue exceeded 60%, with a marked increase in the average transaction value. Repeat and additional purchases from existing customers further supported revenue growth. Currently, the contracted amount for 2026 has increased by 65% year-on-year, and the order backlog has surpassed RMB 1.5 billion, with cash reserves approaching RMB 1 billion, and the profitability path is becoming increasingly clear.