PHANCY's stock soared 6.88% during intraday trading on Friday, reflecting strong investor sentiment.

The surge follows the company's release of its first-quarter results, which showed revenue of approximately RMB 1.458 billion, a 35.4% year-over-year increase, with a gross margin of 35.1%. Notably, API Token consumption volume reached nearly six times that of Q1 the prior year and exceeded full-year volume of the prior year by approximately 40%. Agentic AI backlog orders grew 99% compared to the end of the prior year.

Additionally, multiple brokerages maintained Buy ratings on the stock, with Shenwan Hongyuan setting a target market cap of RMB 36.3 billion, implying over 80% upside. The company also recently signed a strategic cooperation agreement with Huanxi Media, including a US$20 million API service framework agreement spanning two years, further validating commercial demand for its large model services.