Shenzhen-based Xunce Technology reported a sharp turnaround for 1H 2026, with revenue rising 388.76% year-on-year to RMB 967.02 million and profit attributable to shareholders reaching RMB 72.51 million versus a RMB 89.43 million loss a year earlier. Adjusted net profit stood at RMB 66.99 million, compared with a RMB 104.98 million loss in the prior-year period.
Gross profit increased 340.48% to RMB 580.91 million, yielding a 60.07% margin (1H 2025: 66.66%). R&D spending rose to RMB 396.59 million, yet its share of revenue fell to 41.01% from 84.96%, reflecting early scale benefits from the firm’s platform and modular architecture.
Business mix shifted markedly: revenue from diversified industries—including telecoms, electric power and high-end manufacturing—expanded to 87.6% of total sales, while the legacy asset-management segment contributed 12.4%. Average revenue per user jumped 239.89% to RMB 5.56 million, supported by deeper solution deployment and growth in token consumption.
The company’s newly commercialised token model accounted for more than 10% of revenue in the half, supported by the launch of TokenOS and TokenCloud. Management plans a staged build-out toward a global token exchange platform and enterprise small-model services.
Cash and bank balances closed at RMB 633.83 million (31 Dec 2025: RMB 1.08 billion), reflecting hardware procurement for TokenCloud. Trade receivables rose to RMB 983.29 million in line with revenue growth, while interest-bearing debt increased to RMB 296.23 million, lifting the gearing ratio to 8.43% (31 Dec 2025: 1.51%). Total assets were RMB 3.51 billion and equity RMB 2.48 billion.
Xunce had 451 employees at end-June; revenue per employee climbed 379.01% year-on-year. No interim dividend was declared.
Post-period, the company placed 7.28 million new H shares at HK$107.70 each and issued RMB 1.36 billion zero-coupon convertible bonds due 2027, both completed on 10 July 2026. Multiple strategic MOUs were also signed, extending tokenisation and AI data infrastructure partnerships in industrial, European and energy markets.