异动解读 | 财报超预期叠加商业模式升级，迅策(03317)盘中大涨11.53%

异动解读04-10

迅策(03317)今日盘中股价大幅拉升，涨幅达到11.53%，表现十分抢眼。

消息面上，公司近期发布了远超市场预期的2025年财报，全年实现营业收入12.85亿元，同比大幅增长103.28%，成功跨越十亿营收规模分水岭，尤其下半年业绩呈现爆发式增长。同时，公司核心的Token化付费商业模式完成重要升级，从传统的订阅制转向“单次调用价格×调用次数×应用数”的乘数模型，极大提升了单客户价值空间。此外，近期全行业Token涨价潮为公司的业务提供了强劲的产业催化，凸显了市场对其AI数据基础设施解决方案的迫切需求。

基于出色的业绩拐点与商业模式革新，多家头部券商近期发布研报看好其长期成长价值，并上调目标价，这共同推动了资本市场对公司的价值重估，是股价强势上涨的主要驱动力。

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