On May 22, Xunce (03317.HK) rose 4.06% in regular trading, trading at HKD 232.4/share, with trading volume of HKD 59.95 million.

The rebound comes amid sustained market enthusiasm for the company's token-based payment model and AI data infrastructure positioning. On the news front, China Telecom recently launched a nationwide trial commercial token package, marking a milestone as token pricing transitions from enterprise B-end to mass consumer adoption, providing significant industry endorsement for Xunce's vertical token business model.

Xunce's vertical token pricing has reached USD 10-100 per million tokens, over ten times that of general-purpose models such as Anthropic. In April, the company's token-related ARR surged 300% quarter-over-quarter. Token payment revenue currently accounts for approximately 5% of total revenue, with a target to reach 20%-30% by year-end. Analysts note that Xunce's first-mover advantage in regulated industries, proprietary data assets, and high switching costs create durable competitive moats that are complementary rather than competitive with general-purpose model providers.

(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.)