This year, driven by terminal demand for AI computing power and other applications, the global semiconductor industry has experienced further growth building upon its 2024 recovery, with the semiconductor industry chain entering a significant upward prosperity cycle. According to statistics from the Semiconductor Industry Association (SIA), global semiconductor sales reached $62.07 billion in July 2025, representing a year-over-year increase of 20.6%, with China's semiconductor sales reaching $17.02 billion, up 10.4% year-over-year.
Huatai Securities indicates that internationally, AI-related advanced logic and memory continue to be the primary drivers of capital expenditure, with overseas semiconductor companies' capital spending expected to remain strong. Attention should be paid to whether leading companies can accelerate investment in 14A (1.4 nanometer) nodes after receiving support from chip act funding. Domestically, in the short term, the capital expenditure pace for memory and the yield rates of advanced logic are the main factors affecting the procurement rhythm and performance of domestic equipment. Looking ahead, as advanced logic and memory investments continue and wafer fabs achieve technological breakthroughs, the localization rate of semiconductor equipment is expected to improve.
The positive changes in both domestic and international semiconductor industries have not only kept the semiconductor sector strong recently but have also led to continued capital allocation to specialized index products, making them powerful tools for capturing industry opportunities. Wind data shows that the China-Korea Semiconductor ETF (513310) recorded net capital inflows for 7 consecutive trading days (9/11-9/19), accumulating a total of 492 million yuan in inflows during this period.
It is reported that the China-Korea Semiconductor ETF (513310) and its off-exchange feeder funds (Class A 019454, Class C 019455) aim to closely track the China-Korea Semiconductor Index. This index is composed of the CSI Semiconductor 15 Index and the KRX Semiconductor 15 Index with equal weighting. The constituent stocks involve multiple segments of the semiconductor industry chain, including semiconductor design, manufacturing, applications, and equipment production, reflecting the overall performance of leading semiconductor listed companies in both mainland and Korean markets, possessing both scarcity and hard technology dual attributes.
In terms of valuation, Wind data shows that as of September 19, 2025, the China-Korea Semiconductor Index had a P/E ratio (TTM) of 17.65, positioned at the 63.59% historical median range since the index base date (December 31, 2014). Compared horizontally with the CSI Semiconductor Industry Index (P/E ratio 141.45) and the CSI Semiconductor Industry Select Index (P/E ratio 103.18), the China-Korea Semiconductor Index demonstrates certain valuation advantages.
Notably, the China-Korea Semiconductor ETF (513310) is the market's first product adopting a cross-border market cooperation model using a jointly compiled index from two countries, with relatively large scale, superior liquidity, and support for intraday T+0 trading. Against the backdrop of rapid AI industry development and favorable opportunities for the global semiconductor industry, the China-Korea Semiconductor ETF (513310) is positioned to become a quality vehicle for capturing semiconductor opportunities both domestically and internationally.
The manager of the China-Korea Semiconductor ETF (513310), Huatai-Pinebridge Fund, possesses over 18 years of ETF operational experience, with index investment management capabilities and tracking error at industry-leading levels. The company has created benchmark products including the CSI 300 ETF (510300), A500 ETF Huatai-Pinebridge (563360), and Dividend Low Volatility ETF (512890). Exchange data shows that as of September 19, 2025, Huatai-Pinebridge Fund's equity ETF assets under management reached 570.1 billion yuan.
The China-Korea Semiconductor ETF was established on November 2, 2022.
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