(Yicai) Oct. 19 -- Shares of Runjian surged by their daily trading limit after the Chinese provider of artificial intelligence for information technology operation and maintenance services said its subsidiary has penned a service contract for token-based products with an overseas client worth at least USD200 million.

Runjian [SHE: 002929] closed 10 percent higher at CNY46.40 (USD6.93) a share in Shenzhen today.

Wuxiang Cloud Valley will provide AI token invocation services to the customer, which will use the agreed application programming interface opened by the unit to initiate large language model inference calls, the Nanning-based parent firm announced late yesterday. The pair will settle accounts based on the actual number of tokens consumed and the invocation unit price specified in the orders confirmed in writing by the two, it added.

The settlement amount will be calculated in US dollars or the equivalent in Chinese yuan, with the redback serving as the settlement currency, Runjian noted, adding that the service fees for the previous month will be settled and paid by the 15th of each month, with the value-added tax paid separately in accordance with the agreement.

The initial contract runs for one year starting Oct. 19, Runjian said. If the annual service fee falls below USD200 million, the client must make up the shortfall, it pointed out, without disclosing further information.

The deal is an important milestone in implementing Runjian's token factory and overseas token expansion business, the company said. It will likely set a benchmark for rolling out more businesses and positively impact future operating performance, it stressed.

Computing network services, such as token invocation, have been a fast-growing new business for Runjian. Relevant revenue topped CNY810 million (USD120 million) last year, accounting for 7.8 percent of the firm's total income, and reached CNY519 million in the first half of this year, growing its share to 13.8 percent, according to the company's latest financial reports.

Runjian's Wuxiang Cloud Valley Intelligent Computing Center project in Nanning is the highest-level and largest intelligent computing center in the Guangxi Zhuang Autonomous Region. The center adopts flexible billing models such as tokens and card-hours, providing customers with large language model training, inference computing power, graphics rendering computing power, and other services.

The smart computing center's service positioning is "based in Guangxi, serving the whole country, and radiating to the Association of Southeast Asian Nations," according to Runjian's first-half earnings report.

Nanning was picked as one of the first batch of national pilot cities for international cooperation in the data sector in May, with the goal of building a regional hub for data openness and cooperation toward ASEAN. This will help Runjian's data import and export business secure necessary policy support, according to the company.

Editor: Martin Kadiev