From early losses to surpassing RMB 2 billion in annual revenue and pushing forward with an IPO, xTool took less than five years. After its Series D financing in 2025, the company was valued at US$1.1 billion, and the market expected its post-listing valuation to potentially exceed HK$10 billion.
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但是到了1913年，这道闸门消失了。这道闸门的消失，是一条完整的利益链条，不是阴谋论。