On May 22nd, positive news for domestic chips continued to emerge, with Hong Kong-listed hard technology stocks leading the market. Six stocks, including Lenovo Group, Deep Tech, Lenovo Holdings, and Tianyue Advanced, surged over 10%. The largest and most liquid* Hong Kong Stock Connect Information Technology ETF, Huabao (159131), surged over 5% in the afternoon, topping the gains among all market ETFs.
On the news front, it was reported that German Gref, CEO of Russia's Sberbank, hopes to utilize Chinese-made chips to provide computing power support for its AI model "GigaChat." Sberbank currently owns the GigaChat AI model and has been promoting an independent AI development strategy in recent years.
This morning, at a press conference, Li Chao, Deputy Director of the Policy Research Office and spokesperson for the National Development and Reform Commission, stated that core technologies and application demands in the artificial intelligence field are showing rapid growth. China consistently adheres to systematic layout, sector-specific policies, open sharing, and security and controllability, promoting the deep integration of AI with various economic and social sectors. Efforts are being made to guide domestic large models to increase adaptation to domestic computing power chips, ensuring independent and controllable development, positive growth, and steady progress while maintaining rapid advancement. This allows all people to share the benefits of AI development, which is a prominent feature of China's AI development.
Guojin Securities noted that based on the better-than-expected performance of multiple companies in the AI industry chain, the rapid iteration of Google's TPU, the explosive revenue growth of Anthropic, TSMC's accelerated expansion of advanced process capacity for AI chips, CSP giants securing long-term storage capacity agreements, and rising GPU rental prices, demand for AI is very strong in both the short and medium term. The firm is optimistic about AI-related copper-clad laminates/PCBs, core computing hardware, and semiconductor equipment.
Since rebounding from its bottom on March 31st, the underlying index of the Hong Kong Stock Connect Information Technology ETF Huabao (159131)—the CSI Hong Kong Stock Connect Information Technology Composite Index—has accumulated a gain of 24.68%. In the same period, the Hang Seng Tech Index and the Hong Kong Stock Connect Tech Index rose by 1.68% and 0.69%, respectively, demonstrating significantly sharper and more elastic performance.
Statistical period: March 31, 2026, to May 21, 2026. The annual historical returns of the Hong Kong Stock Connect Information C Index from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30%. Past performance of the index does not indicate future results.
Supporting T+0 trading! Targeting the super cycle of Hong Kong-listed chips—the first, largest, and most liquid Hong Kong Stock Connect Information Technology ETF Huabao (159131) in the market. The off-exchange feeder fund code is 026755. The underlying index is composed of "70% hardware + 30% software," heavily weighted in Hong Kong-listed "semiconductors + electronics + computer software." It covers 52 hard technology companies listed in Hong Kong, with storage chip exposure exceeding 26%. Key holdings include SMIC with a weight of 14.21%, Xiaomi Group-W with 10.31%, Lenovo Group with 9.33%, and Hua Hong Semiconductor with 8.82%. The index excludes large-cap internet companies such as Alibaba, Tencent, and Meituan, offering higher sharpness and easier capture of Hong Kong's AI hard technology trends. (As of May 5, 2026)
Data source: CSI Index Company, Shanghai and Shenzhen Stock Exchanges.
Note: "First in the market" refers to the Hong Kong Stock Connect Information Technology ETF Huabao being the first ETF to track the CSI Hong Kong Stock Connect Information Technology Composite Index. As of May 19, 2026, the latest on-exchange scale of the Hong Kong Stock Connect Information Technology ETF Huabao was 7.75 billion yuan, making it the largest among the seven ETFs currently tracking the CSI Hong Kong Stock Connect Information Technology Composite Index. The average daily turnover of the Hong Kong Stock Connect Information Technology ETF Huabao this year has been 1.66 billion yuan. The annual historical returns of the underlying index, the CSI Hong Kong Stock Connect Information Technology Composite Index (HKD), from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30%. Past performance of the index does not indicate future results.
Fund fee explanation: The subscription and redemption agency for the Hong Kong Information Technology ETF Huabao may charge a commission of up to 0.5%. On-exchange trading fees are subject to the actual charges by securities firms. No sales service fee is charged.
Risk warning: The Hong Kong Stock Connect Information Technology ETF Huabao and its feeder fund passively track the CSI Hong Kong Stock Connect Information Technology Composite Index. The base date of the index is November 14, 2014, and it was released on June 23, 2017. The index constituents presented in the material are for illustrative purposes only. Descriptions of individual stocks do not constitute any form of investment advice and do not represent the holdings or trading trends of any fund managed by the fund manager. This product is issued and managed by Huabao Fund. Distributors do not assume responsibility for the investment, redemption, or risk management of the product. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Summary," and other fund legal documents to understand the fund's risk-return characteristics and choose products suitable for their own risk tolerance. Past performance of the fund does not predict future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment involves risks! The fund manager assesses the risk level of this fund as R4—medium to high risk, suitable for aggressive (C4) and above investors. Distributors (including the fund manager's direct sales channels and other distributors) evaluate the fund's risk according to relevant laws and regulations. Investors should promptly pay attention to the appropriateness opinions issued by distributors and base their decisions on the matching results. Appropriateness opinions from different distributors may not necessarily be consistent, and the risk level evaluation results of the fund product issued by fund distributors shall not be lower than the risk level evaluation results made by the fund manager. There may be differences in the fund's risk-return characteristics and risk level as described in the fund contract due to different considerations. Investors should understand the fund's risk-return situation and choose fund products cautiously based on their own investment objectives, time horizon, investment experience, and risk tolerance, bearing the risks themselves. The China Securities Regulatory Commission's registration of this fund does not indicate a substantive judgment or guarantee of its investment value, market prospects, or returns. Funds involve risks; investment requires caution.
MACD golden cross signals have formed, and these stocks are performing well.
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