On June 12, Xunce (03317.HK) rose 3.64% in regular trading, trading at HK$155.8/share with turnover of HK$56.75 million, rebounding after consecutive sessions of heavy selling pressure.

The stock had previously surged approximately 10-fold over roughly 120 trading days from HK$38 to HK$380, before entering a steep correction following the May 25 release of its TokenONE operating system. By June 11, the stock had retraced over 60% from its peak to around HK$149, creating conditions for a technical bounce. On the fundamental side, the company on June 8 signed a tripartite strategic cooperation agreement with Pateo Connected and Saimo Technology to jointly develop Token-based physical AI and world models for the intelligent connected vehicle sector. The collaboration aims to build a full closed-loop ecosystem spanning edge-side hardware, simulation testing, data infrastructure, Token settlement, and commercial operations, with expectations of generating hundreds of millions in annual recurring Token-based revenue.

However, market headwinds remain, including IPO cornerstone investor lock-up expiry of approximately 6.41 million shares on June 29 worth nearly HK$1 billion at current prices, which continues to weigh on sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)