Recent analysis highlights that within the AI industry chain, the Token is emerging as a new unit of value measurement, forming a three-tier pricing structure encompassing computing power, models, and applications. The core of the application layer lies in improving the scenario conversion rate of Tokens, a value not yet fully priced by the market. XUNCE (03317), as an early adopter, is positioned as a primary beneficiary of this trend. Unlike traditional module-based pricing, the essence of AI applications involves infusing industry-specific private data and professional know-how into the Token usage process, thereby maximizing the business output value per Token. XUNCE has innovatively introduced a Token-based charging model, establishing a growth framework where revenue equals Token price multiplied by call frequency and the number of module applications. This model deeply aligns earnings with AI usage intensity, unlocking access to a larger incremental market. As customer usage deepens, accumulating real business data continuously refines models and AI agents, driving sustained improvement in Token conversion efficiency while enhancing outcome certainty and customer loyalty. This "data flywheel" effect is enabling XUNCE to gradually widen its competitive gap and strengthen its pricing power. With ongoing advancements in model capabilities, AI application providers possessing data assets and effective delivery capabilities are poised to gain greater leverage, potentially amplifying XUNCE's leading advantage. Against a backdrop of exponential growth in Token calls, XUNCE stands at the beginning of a high-growth cycle. Coupled with the continuous reinforcement of its business model and data flywheel, the company's profitability and valuation potential are expected to be realized concurrently.