The computing power sector remained active today (February 27), with the Science and Technology Innovation Artificial Intelligence ETF (589520), which focuses on China's domestic AI industry chain, seeing its intraday price surge by 2.4% and currently trading up 2.3%, aiming for a second consecutive daily gain.
Among its component stocks, Shenzhen Intellifusion Technologies Co.,Ltd. hit the 20% daily limit up, while Scantech rose over 10%. UCloud Technology and CloudWalk Technology jointly advanced more than 8%. VeriSilicon Microelectronics, Asiainfo Security Technologies, Qi An Xin Technology Group, and Cambricon Technologies also posted gains.
Market news indicates that data from OpenRouter, the world's largest AI model API aggregation platform, shows that during the week of February 9-15, Chinese models were called 4.12 trillion tokens, surpassing the 2.94 trillion tokens for US models for the first time. Among the top five models by usage volume on the platform, four were from Chinese providers: MiniMax's M2.5, Moonshot AI's Kimi K2.5, Zhipu AI's GLM-5, and DeepSeek's V3.2. These four models collectively contributed 85.7% of the total usage volume for the top five.
Notably, the platform's user base primarily consists of overseas developers, with US users accounting for 47.17%, while Chinese developers represent only 6.01%. This makes the platform's ranking data a more objective reflection of the global appeal of Chinese AI models.
Shengang Securities believes that the increased usage volume of domestic Chinese large AI models and improved expectations for their monetization potential may accelerate growth in data usage and enhance model performance, potentially benefiting the domestic computing power industry chain.
Industry insiders point to four key reasons international capital is bullish on leading Chinese large model companies: 1) The Chinese large model industry has entered a commercial realization cycle; 2) The overseas expansion progress of leading Chinese large model companies has exceeded expectations; 3) A valuation gap has created a distinct global comparative advantage. After multiple valuation adjustments, Chinese AI assets offer significant value compared to US tech stocks; 4) International investment banks are forming a consensus bullish view. Institutions like Goldman Sachs and Citigroup have recently frequently upgraded their ratings on Chinese stocks, explicitly identifying AI as the most important structural opportunity for the next decade and predicting sustained global capital inflows into Chinese tech assets.
The Science and Technology Innovation Artificial Intelligence ETF Huabao (589520) and its feeder funds focus on the domestic Chinese AI industry chain. Its components include leading domestic GPU companies, leading domestic ASIC companies, and leading AI application companies. The semiconductor sector carries a weight of nearly half, offering strong offensive potential, while the software sector weight exceeds 30%, potentially benefiting from catch-up rallies in AI applications. Furthermore, this ETF is a margin trading security, making it an efficient tool for gaining exposure to domestic computing power.
ETF fee information: The Huabao Science and Technology Innovation Artificial Intelligence ETF does not charge a sales service fee. Subscription and redemption agents may charge commissions up to 0.5%, which include relevant fees charged by stock exchanges and registration institutions. On-market trading fees are subject to the actual charges by securities firms.
Feeder fund fee information: For the Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF Feeder Fund (Class A), the subscription fee rate is 1% for amounts below 1 million yuan, 0.6% for amounts between 1 million yuan (inclusive) and 2 million yuan, and a flat fee of 1,000 yuan per transaction for amounts of 2 million yuan (inclusive) and above. The redemption fee rate is 1.5% for holding periods under 7 days and 0% for holding periods of 7 days (inclusive) or more; no sales service fee is charged. The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF Feeder Fund (Class C) does not charge a subscription fee. The redemption fee rate is 1.5% for holding periods under 7 days and 0% for holding periods of 7 days (inclusive) or more; a sales service fee of 0.3% is charged.
Risk提示: The Huabao Science and Technology Innovation Artificial Intelligence ETF passively tracks the Shanghai Science and Technology Innovation Board Artificial Intelligence Index. The base date for this index is December 30, 2022, and it was published on July 25, 2024. The index's annual gains/losses for 2023 and 2024 were 12.68% and 32.36% respectively. The index's constituent stocks are adjusted according to its compilation rules, and its backtested historical performance does not indicate future index performance. Individual stocks and index components mentioned herein are for illustrative purposes only; descriptions of individual stocks do not constitute investment advice in any form nor represent the holdings or trading动向 of any fund managed by the manager. The fund manager assesses the risk rating of the Huabao Science and Technology Innovation Artificial Intelligence ETF as R4 - Medium-High Risk, suitable for aggressive (C4) and higher risk profile investors. Suitability matching opinions are subject to the selling institutions. Any information appearing in this article is for reference only, and investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts herein do not constitute investment advice of any kind to readers, and no responsibility is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks; past performance of a fund does not indicate its future performance, and the performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment should be approached with caution.
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