Shares of MARKETINGFORCE (02556) extended their rally, climbing nearly 12% in intraday trading. As of the latest update, the stock was up 11.7% at HK$56.80, with turnover reaching HK$428 million.

On the corporate front, the company announced on September 17 that it had entered into a subscription agreement with subscribers, conditionally agreeing to issue and allot 9.8328 million new shares at a subscription price of HK$50.85 per share. The group plans to allocate 100% of the net proceeds from the subscription to the expansion and optimization of its full-stack Token factory, aiming to reduce unit Token costs, enhance response efficiency, and further improve the return on investment for AI applications.

Notably, in its interim report, MARKETINGFORCE disclosed that total headcount grew 13.8% year-on-year to 1,893 employees in the first half, while total revenue surged 111.2% year-on-year, and per-capita efficiency climbed 85.6% compared to the same period last year. The pace of workforce expansion has clearly lagged behind revenue growth, signalling that the organizational efficiency gains from enterprise agents are now beginning to appear in operating metrics.

Meanwhile, the cost structure reflects a similar trend. During the first half, the group's sales expense ratio stood at 11.4%, and its administrative expense ratio at 4.6%, both down 5.6 percentage points year-on-year, while the R&D expense ratio was 16.6%. The efficiency headroom unlocked in the sales and administration segments is being redirected toward the agent platform, knowledge governance, and products targeting key scenarios.