Shares of XUNCE (03317) surged more than 5% on August 26, reaching a high of HK$127 during intraday trading. As of the time of writing, the stock was up 5% at HK$126, with a turnover of HK$97.45 million.

This rally follows a research report released by Deutsche Bank earlier this week, which reaffirmed a "Buy" rating on XUNCE with a target price of HK$351. The bank expressed confidence in the company's Token business model and its strategic positioning across vertical industries.

According to the report, the company's performance for the first half of 2026 was in line with expectations. Revenue surged 389% year-on-year to RMB 967 million, driven by the implementation of enterprise AI infrastructure, cross-industry replication, and the Token business model. The company also achieved an adjusted net profit of RMB 67 million, marking its first profitable first-half period.

Customer ARPU rose 240% year-on-year to RMB 5.56 million, while the client retention rate remained above 90%. Revenue per employee grew 379% compared to the same period last year, indicating a significant improvement in operational efficiency.