In an era where AI technology is reshaping business logic, Data Agents are revolutionizing the corporate data analytics industry. IDC predicts that by 2026, 50% of China's Fortune 500 data teams will adopt AI Agents for data preparation and analysis, positioning Data Engineering Agents as critical organizational coordinators. This trend highlights three core values: the fusion of "data + knowledge," closed-loop insights-to-action, and human-machine collaborative evolution—collectively pushing Data Agents beyond traditional analytics tools. This shift has spotlighted early adopters of "AI-native" transformations, such as XUNCE (03317), a leading real-time data infrastructure and analytics provider that fuels the Data Agent ecosystem.
On December 18, XUNCE announced its IPO launch, offering 22.5 million H shares at HK$48–HK$55 apiece, aiming to raise up to HK$1.238 billion. Retail investors can subscribe in lots of 100 shares (HK$5,555.47 per lot), with trading expected to commence on December 30. Nine cornerstone investors, including Yunfeng Capital and Harvest Holdings, pledged ~$39.57 million (HK$307.8 million), underscoring strong market confidence. The listing could crown XUNCE as Hong Kong’s first "Big Model Data Agent" stock.
**Scarcity Through Multi-Dimensional Strengths** Founded in 2016, XUNCE dominates China’s real-time data infrastructure and analytics sector, holding 11.6% of the asset management market and ranking fourth nationally (3.4% share). Its dual offerings—AI-powered cloud-native data platforms and analytics applications—deliver high-margin solutions, with gross margins averaging 78% from 2022–2024. This profitability fuels R&D and diversification, while its clientele (insurers, banks, telecom giants) reflects sticky demand and "land-and-expand" sales momentum.
**High-Growth Engine: Cross-Industry Replication** The AI Agent market, projected to hit ¥852 billion by 2028 (72.7% CAGR), propels XUNCE’s addressable market (¥1.153 trillion by 2029). Revenue surged at a 48% CAGR (2022–2024), with non-financial sectors (telecom, urban management) contributing 52.7% of H1 2025 income—proof of successful diversification. Heavy R&D (70%+ of revenue) fortifies its moat, enabling modular solutions (300+ modules) that competitors struggle to replicate.
**Conclusion** XUNCE’s niche leadership, coupled with scalable technology, positions it for sustained growth. Investors may consider this high-potential stock as its multi-industry expansion unfolds.