I recently got a Xeno E03 XML and a Thrunite 1C, both cool white.
My initial impressions comparing the two (Thrunite running AW protected 16340 v. E03 on AW IMR 14500):
* The EO3 feels incredibly well built. All the parts fit well together, the finish is excellent, and its shape and knurling are superb. It has a better grip than the Thrunite. I would assume that the E03 has HAII anodizing while the Thrunite has HAIII, but so far the E03 hasn't scratched yet. If it's type 2 anodizing, it's of very high quality.
* At maximum brightness both lights put out a comparable amount of light. Using a ceiling bounce test I think the E03 was slightly brighter, but the difference is so close it is hard to tell. Note the E03 reportedly draws 1.56 amps at max compared to 1.3 amps for the Thrunite. So the E03 should be brighter. This is probably why the Thrunite reportedly ouputs 440-450 lumens compared to 490 for the E03.
* Both lights are very floody. The flood on the E03 is wider due to the shallower reflector.
* The E03 feels more durable than the Thrunite. This is because the E03 doesn't have the removable body tube, has springs at both ends of the battery compartment, and has double o-rings. It feels like it's built like a tank.
* The E03 lacks a usable low mode. It has high, slightly higher, and medium-high. No low. In contrast, the Thrunite has a much broader range of brightness settings. This is one area the E03 falls flat.
* With batteries installed, the E03 is slightly heavier than the Thrunite (2.4 oz for the E03 and 2.2 oz for the Thrunite). The E03 is also longer and very slightly narrower.
* The Thrunite has a very nice pure white tint. The E03's tint is also nice, but not quite as nice as the Thrunite's.
* The E03 tailstands easily. In contrast the puffy switch boot on the Thrunite prevents it from tailstanding reliably.
Conclusion: Overall I'm very impressed with both lights. The clincher for me is the lack of any kind of low or very low mode on the E03. In most other respects it feels like a superb light - every bit as good or even better than Thrunite which cost twice as much.