Recently, Liu Liehong, Secretary of the Party Leadership Group and Director of the National Data Administration, chaired a symposium on the token economy, providing strategic direction for the development of this emerging field. The meeting outlined plans to incorporate the promotion of the token economy into the official work framework. This involves continuous tracking, research, and incorporation of suggestions from various sectors of society. The focus will be on building high-quality industry datasets and establishing a nationally integrated computing power network. These efforts aim to deepen the market-oriented allocation reform of data elements and drive the high-quality development of the token economy. Furthermore, the State Administration for Market Regulation and the National Development and Reform Commission jointly issued the 2026 guidance for constructing an AI metrology system. This initiative aims to resolve long-standing challenges in AI large language models, specifically "inaccurate measurement" and "data scarcity." Two significant policy directives in a short period have placed XUNCE (03317.HK), often referred to as the "first listed company in the token economy," in the spotlight. "Token Economy" Integrated into National Work System A "Token" is the smallest operational unit for processing information like text, code, images, and audio/video in large language models. It is gradually becoming the standard unit for measurement, settlement, and statistics in AI services. Director Liu Liehong previously revealed that China's daily Token invocation volume had exceeded 140 trillion by March 2026. However, a significant question arises: out of this vast number of Token invocations, how many generate actual business value? Companies invest heavily in computing power, often receiving outputs that are unexplainable and untraceable—essentially a "black box." Consequently, the industry urgently needs a new operating system to transform this uncertain "technology flow" into tangible, measurable productivity for enterprises. The solution is TokenONE, the world's first TokenOS operating system recently launched by XUNCE. TokenONE: Enabling Data Tokenization and Measurable LLM Output Historically, core pain points for enterprises included high AI costs with opaque outputs, and internal private high-quality data lying dormant due to heterogeneous, scattered formats, unable to serve as standardized production inputs for powering large language models. XUNCE's TokenONE is not merely a tool panel but an industrial-grade "AI precision production line." It standardizes and encapsulates core information—such as financial risk control logic, manufacturing expertise, and medical diagnostic knowledge—into high-value "scenario Tokens" that can be directly invoked. This provides enterprises with their own "core fuel repository" for AI applications, making large language model outputs measurable. More critically, XUNCE introduced the world's first new billing model based on "Token invocation." This approach, deeply tied to the customer's actual realized value, directly addresses the core challenge for large-scale AI adoption. Data from this critical window is validating the market's enthusiastic response. In 2025, XUNCE's annual revenue reached 12.85 billion yuan, representing a year-on-year doubling. Entering April 2026, XUNCE's Token invocation Annual Recurring Revenue (ARR) surged by 300% quarter-over-quarter. The proportion of revenue from Token-based payments not only rapidly exceeded 5% but is also targeting 20-30% for the full year. As regulatory bodies move to establish the "rules" for the Token economy, industry leader XUNCE had already built its technological moat and deployment scenarios well before the trend peaked. A systemic revaluation of the company is becoming inevitable. It is foreseeable that, driven by the convergence of supportive policies, advanced technology, and commercial viability, XUNCE is entering what could be a golden decade for the "Token economy."