Core Insights - The AI arms race is intensifying, with companies like MiniMax and Zhipu launching new generation models, leading to significant stock price surges. However, the focus is shifting from model capabilities to data as the key resource for unlocking model value [1][2]. Industry Trends - The capabilities of leading AI models are converging, making them more standardized and accessible. The competition is moving from "who is stronger" to "who is closer to the infrastructure" [2]. - Despite the convergence in model capabilities, the integration of these models into business processes remains challenging, with high friction costs in moving from proof of concept to large-scale deployment [2][3]. - The value chain is shifting towards data, with high-quality, real-time data processing becoming a new competitive barrier for enterprises. Data governance is a significant friction point for deploying large models [3]. Company Insights - XunCe Technology, recognized as the "Chinese version of Palantir," addresses the challenge of integrating models into real business operations by building a real-time data infrastructure that allows continuous access to data assets [1][3]. - The company’s core product, the VONE platform, is designed to convert raw data into high-quality production materials, boasting millisecond-level processing capabilities and ensuring 100% data consistency and traceability [3]. Market Potential - The real-time data infrastructure and analytics market in China is projected to grow from 18.7 billion RMB in 2024 to 50.5 billion RMB by 2029, with a compound annual growth rate (CAGR) of 22% [4]. - XunCe holds an 11.6% market share in the asset management sector, leading the market, and is expanding into other industries, demonstrating the versatility and value of its solutions [5]. Financial Performance - XunCe's revenue is expected to grow from 288 million RMB in 2022 to 632 million RMB in 2024, with a CAGR of 48.2%, driven by an increase in customer base and average revenue per user (ARPU) [6]. - The company maintains a gross margin above 70%, reaching 76.7% in 2024, indicating strong pricing power and competitive advantages [6]. Investment Dynamics - Inclusion in the Hang Seng Index is expected to bring significant liquidity benefits and may lead to a revaluation of the company's asset profile, transitioning from an "AI concept stock" to an "AI infrastructure stock" under mainland capital systems [8][9]. - The investor base is likely to shift, attracting long-term capital from mainland public funds and insurance companies, enhancing the company's growth potential [9]. Valuation Insights - Analysts have set target prices for XunCe at 85 HKD and 86 HKD, representing over a 20% premium compared to recent closing prices, indicating a favorable valuation compared to global peers [10].

Core Viewpoint - The company has been selected by Hang Seng Indexes Company to be included in multiple indices, reflecting positive business performance and investment potential [1] Group 1: Index Inclusion - The company will be included in the Hang Seng Composite Index, Hang Seng Composite Industry Index - Information Technology, Hang Seng Composite Small Cap Index, Hang Seng Composite Small Cap Index, Hang Seng Information Technology Index (Investable), Hang Seng Hong Kong Stock Connect Information Technology Index, Hang Seng Hong Kong Stock Connect Software Theme Index, and Hang Seng Hong Kong Stock Connect Software and Semiconductor Index, effective from March 9, 2026 [1] Group 2: Market Recognition - The board believes that inclusion in these indices signifies market recognition of the company's positive business performance, investment value, and development potential [1] Group 3: Impact on Liquidity and Opportunities - The company anticipates an increase in public visibility and improved trading liquidity of H-shares, which may provide more business development and collaboration opportunities [1]

Group 1 - The Hang Seng Index Company announced the quarterly review results for the Hang Seng Index series as of December 31, 2025, with XunCe (03317) being included in the Hang Seng Composite Index [1] - The changes will be implemented after the market closes on March 6, 2026, and will take effect on March 9, 2026, leading to adjustments in the eligible stocks for the Hong Kong Stock Connect [1] - According to CICC research, XunCe is likely to be included in the Hong Kong Stock Connect due to meeting various criteria, including market capitalization, liquidity, and listing duration [1] Group 2 - XunCe Technology focuses on real-time data infrastructure and analytical solutions, developing a millisecond-level AI Data Agent platform [1] - The platform drives real-time data analysis and efficient decision-making across various industries, including finance, urban operations, energy, high-end manufacturing, healthcare, satellites, robotics, telecommunications, and consumer markets in the AI era [1] - During the implementation of large AI models, XunCe's real-time data platform assists enterprises in addressing challenges related to data dispersion and insufficient real-time capabilities [1]

Group 1 - The company, Zhixun (03317), has been selected by Hang Seng Indexes Company to be included in several indices, including the Hang Seng Composite Index and the Hang Seng Composite Industry Index - Information Technology, effective from March 9, 2026 [1] - The board believes that the inclusion in these indices reflects the market's recognition of the company's positive business performance, investment value, and development potential [1] - The company anticipates that its public visibility will increase, and the liquidity of its H-shares will improve, providing more opportunities for business development and collaboration [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 Shenzhen Xunce Technology Co., Ltd. 深圳迅策科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3317） 自願性公告 獲納入恒生指數系列的成份股 承董事會命 深圳迅策科技股份有限公司 董事會主席、執行董事兼首席執行官 劉志堅先生 中國，2026年2月13日 本公司董事會（「董事會」）欣然宣佈，本公司已獲恒生指數有限公司選擇及將被納入下 列指數的成份股，自2026年3月9日起生效。 恒生綜合指數提供了一項全面的香港市場指標，涵蓋在香港聯合交易所有限公司（「聯 交所」）主板上市證券總市值最高的95%。恒生綜合指數採用流通市值加權法計算，可用 作發行指數基金、互惠基金以及表現量度基準。本公司在聯交所發行及上市的H股（「H 股」）獲納入恒生綜合指數成分股後，預期將符合透過滬港通及深港通進行交易的相關 納入標準。滬港通及深港通是香港與中國內地資本市場投資 ...

其次，低延迟、高可用的流通网络。迅策搭建的数据通道可实现秒级响应与100%准确率，满足金融风 控、工业控制等高敏感场景需求。其服务已从"功能可选"升级为"业务必需"，客户实际留存率超90%， 形成高转换成本的护城河。 2026年初，AI行业正经历一场静默却深刻的范式迁移。两年前那场以GPU堆砌、千亿参数为标志的"算 力军备竞赛"正在退潮，取而代之的是一场围绕"数据流动"的基础设施战争。 谷歌近日宣布自2026年5月起正式上调北美、欧洲和亚洲的对等互联(peering)数据传输服务，其中北美 地区翻倍。这从表面看是网络成本调整，实则释放出一个关键信号：数据流通的"通道费"战略价值，正 在超越算力硬件本身。 在此转折点上，迅策（03317）正式进入了恒生综指和恒生综指中小型/小型股指和恒综多个行业指数， 以及恒生港股通多个行业指数等共计8个指数的名单，并将于3月9日正式生效。这家于2025年12月30日 登陆港交所主板的AI数据基础设施企业，仅用45天即获纳入恒指的资格，并有望于3月正式纳入港股 通，彰显其稀缺性与成长确定性。而这也标志着资本市场正重新定价AI产业链的价值重心——从"谁算 得快"，转向"谁让数据流 ...

Core Viewpoint - Shenzhen Xunce Technology Co., Ltd. has been included in the Hong Kong Stock Connect, marking a significant milestone in its capital market journey and enhancing its investor base and liquidity [1][2]. Group 1: Company Overview - Xunce Technology is recognized as a leading real-time data infrastructure and analytics solution provider in China, serving various industries including finance, urban management, and telecommunications [3][4]. - The company has established a strong customer base, including top asset managers and major telecommunications operators in China [3]. Group 2: Market Position and Recognition - Xunce Technology is often compared to Palantir, as it offers a comprehensive data processing solution that spans data acquisition, cleaning, standardization, real-time computation, and model optimization [4]. - The company ranks first in the real-time data infrastructure and analytics market within China's asset management sector and fourth overall in the real-time data market [3]. Group 3: Technological Advancements - The company’s VOne platform boasts millisecond-level data processing capabilities and can connect to over 1,000 external data sources, ensuring 100% data consistency and traceability [5]. - Xunce Technology is integrating large language models into its VOne platform, enhancing user interaction with data analysis through features like "Chat with Data" [5]. Group 4: Investment Potential - The investment value of core technology companies, including Xunce Technology, is gaining recognition amid China's push for technological self-reliance [6]. - Analysts have noted that Xunce Technology's real-time data platform is crucial for businesses facing challenges related to data dispersion and real-time processing [7]. - Deutsche Bank has initiated coverage on Xunce Technology, positioning it as a leader in real-time data infrastructure and analytics solutions, with a target price of 85 HKD, indicating potential upside from its current price [7].

当前，国产大模型企业已在通用人工智能领域取得全球瞩目的技术突破。GLM系列、ABAB大模型等产 品展现出强大的语言理解与生成能力，为千行百业智能化转型提供了强大引擎。然而，当这些先进模型 进入金融风控、智能投研、工业调度等高价值垂直场景时，一个共性需求日益凸显：如何将企业内部沉 淀的交易日志、客户行为、合规规则等专业数据，高效、准确、实时地注入模型推理管道？ 这正是迅策的战略卡位与价值支点。智通财经APP观察到，迅策构建的三大核心能力支柱，正精准对应 了AI在垂直场景落地中的三大关键瓶颈。 2026年初，AI行业正经历一场静默却深刻的范式迁移。两年前那场以GPU堆砌、千亿参数为标志的"算 力军备竞赛"正在退潮，取而代之的是一场围绕"数据流动"的基础设施战争。 谷歌近日宣布自2026年5月起正式上调北美、欧洲和亚洲的对等互联(peering)数据传输服务，其中北美 地区翻倍。这从表面看是网络成本调整，实则释放出一个关键信号：数据流通的"通道费"战略价值，正 在超越算力硬件本身。 在此转折点上，迅策（03317）正式进入了恒生综指和恒生综指中小型/小型股指和恒综多个行业指数， 以及恒生港股通多个行业指数等共计8个 ...

春节前AI军备竞赛如火如荼。 继Deepseek之后，2月12日MiniMax与智谱发布新一代大模型，二者股价单日暴涨，AI赛道再度被情绪 点燃。 迅策科技准确把握了这一产业痛点。 但在情绪之外，产业侧的变化更值得关注。 随着大模型能力加速商品化，模型本身正逐步从"稀缺能力"转向"可规模采购的工具"。真正制约大模型 进入企业核心系统的瓶颈，正在从算法层转移到数据侧。模型能力的趋同，正使得高质量、可实时调用 的数据成为释放大模型价值的真正稀缺资源。 2月13日盘后，港股通迎来年度审议关键节点。恒生指数公司公布恒生系列指数调整结果，并于3月9日 正式实施。其中，港股"Data Agent"第一股迅策科技（03317.HK）获纳入恒生综指和恒生综指中小型/小 型股指和恒综多个行业指数，以及恒生港股通多个行业指数等共计8个指数。一般而言，"入指"（纳入 恒生综合指数成份股）即"入通"（纳入港股通）。 这家被称为"中国版Palantir"的公司，并不提供模型本身，而是解决模型进入企业真实业务之前最难的一 步——为企业搭建一套可被大模型持续调用的实时数据基础设施，让企业真正掌握可被模型反复调用的 数据资产，从而真正地释放 ...

Core Viewpoint - The Hang Seng Index Company announced the quarterly review results for the Hang Seng Index series, with XunCe (03317) being included in the Hang Seng Composite Index, effective from March 9, 2026 [1] Group 1: Company Information - XunCe Technology focuses on real-time data infrastructure and analytical solutions, developing a millisecond-level AI Data Agent platform [1] - The platform drives real-time data analysis and efficient decision-making across various industries, including finance, urban operations, energy, high-end manufacturing, healthcare, satellites, robotics, telecommunications, and consumer markets [1] - XunCe's real-time data platform addresses challenges related to data dispersion and insufficient real-time capabilities during the implementation of large AI models [1] Group 2: Market Implications - The inclusion of XunCe in the Hang Seng Composite Index may lead to adjustments in the investable scope of Hong Kong Stock Connect, as it meets criteria such as market capitalization, liquidity, and listing duration [1]