XUNCE (03317.HK) saw its stock price soar 5.43% in intraday trading on Friday, extending recent positive momentum.
The surge follows an upgraded outlook from Deutsche Bank, which raised its target price for XUNCE to HKD 351 while maintaining a Buy rating. The bank positioned the company as a Data Fuel Supplier and Billing Hub, providing high-quality scenario Tokens for vertical sectors including finance, robotics, and energy. Deutsche Bank noted the company is benefiting from an explosion in AI data demand and a structural shift toward a Token economy model, warranting a valuation re-rating.
Fundamentally, XUNCE's scenario Token pricing commands $10-$100 per million Tokens — over ten times that of Anthropic — reflecting strong pricing power. In April, the company's Token invocation Annual Recurring Revenue (ARR) surged 300% quarter-over-quarter. Management previously disclosed that Token-based revenue currently accounts for approximately 5% of total revenue, with a target of 20%-30% by year-end, establishing Token revenue as a new growth engine.
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