On Friday (January 16th), the ChiNext AI sector fell 2%, pulling back to its five-day moving average, while experiencing massive capital inflows! AI application concept stocks saw a broad-based correction, with Hand Information, BlueFocus, Kunlun Tech, and others falling over 10%. However, computing power segments like optical modules remained active, with Lantech, T&S Communications, ZS Tech, and others rising over 5%, while Longchip Bocon, TFC Optical, Lightcomm Technology, Ruijie Networks, and others gained over 1%.
Regarding popular ETFs, the ChiNext AI ETF (159363), which has a dual-line strategy focusing on both "Computing Power + AI Applications," closed down 1.81% intraday, retesting its five-day moving average, with a turnover exceeding 1.2 billion yuan. Capital inflows accelerated significantly, with net subscriptions reaching 436 million units for the day (estimated value approximately 478 million yuan based on the day's average price). Combined with the 1.2 billion yuan increase over the previous four days, the cumulative weekly inflow reached approximately 1.678 billion yuan!
A comprehensive analysis suggests three potential reasons behind the nearly 1.7 billion yuan flowing into 159363 to position in the ChiNext AI sector: 1. ChiNext AI Continues to Outperform! A weekly review shows that driven by an AI application surge in the first half of the week, the market subsequently rotated back towards computing power directions like optical modules. The ChiNext AI ETF (159363) charted a strong eight-week winning streak, with the underlying index accumulating a gain of 34.66% over eight weeks, significantly outperforming peer AI-themed indices such as STAR AI, CS Artificial Intelligence, and the AI Index, validating the superior elasticity of the ChiNext AI sector.
Note: The HuaBao ChiNext AI ETF passively tracks the ChiNext Artificial Intelligence Index. The base date for this index is December 28, 2018, and its release date was July 11, 2024. The annual price changes for the ChiNext Artificial Intelligence Index from 2021 to 2025 were: 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively. The index constituents are adjusted periodically according to its compilation methodology, and its backtested historical performance does not indicate future results. 2. Trading the Earnings Theme Expectation in Computing Power! Focusing on computing power opportunities, the repeated activity in optical modules/CPO is partly catalyzed by earnings expectations. Cao Xuchen, the fund manager of the HuaBao ChiNext AI ETF (159363), indicated that short-term pullbacks do not alter the expectation of strong performance in the A-share market for the first half of this year. During correction periods, optical module stocks with solid earnings potential are expected to become a focal point for market consolidation, suggesting attention to allocation opportunities in this sector. Guosheng Securities believes the optical module industry is in a high-growth cycle, with exploding AI computing demand driving rapid growth for high-end optical modules, making supply the core constraint. Against the backdrop of the computing power industry chain's high prosperity cycle, leading optical module manufacturers are accelerating capacity expansion in mainland China and Thailand. It is anticipated that the optical module industry will see concentrated capacity release in the first quarter of 2026, driving earnings into a new climbing phase.* 3. Superior Product Strength Compared to Peers! As of January 15th, the HuaBao ChiNext AI ETF (159363) reached a record high AUM of 5.527 billion yuan. Its average daily turnover over the past six months was nearly 800 million yuan, ranking first in both size and turnover among the 8 ETFs tracking the ChiNext Artificial Intelligence Index! Furthermore, HKEX notifications show that 159363 has been officially included in the Stock Connect program, effective January 19th, making it a preferred choice for northbound capital allocation and potentially further enhancing its intraday trading activity.
Looking ahead, as AI development progresses from computing infrastructure construction to application deployment, the ChiNext AI ETF (159363) and its feeder funds (Class A: 023407, Class C: 023408), which offer one-click exposure to both "Computing Power + AI Applications," stand to benefit more directly from the growth dividends of the AI technology commercialization boom. In terms of sector allocation, the ChiNext AI ETF allocates approximately 60% to computing power (primarily optical modules) and about 40% to AI applications, positioning it not only as a core "computing power" play but also as a genuine representative of "AI applications." Data source: Shanghai and Shenzhen Stock Exchanges, etc. Note: "First in the entire market" refers to being the first ETF tracking the ChiNext Artificial Intelligence Index. *Institutional views referenced from: Guosheng Securities Research Report "Optical Modules - The Eve of a New Round of Capacity Release". ETF Fee Explanation: When investors subscribe for or redeem fund units, subscription/redemption agents may charge a commission of up to 0.5%. Intraday trading fees are subject to the rates charged by the securities firm. Feeder Fund Fee Explanation: The ChiNext AI ETF Feeder Fund Class C does not charge a subscription fee; redemption fee within 7 days is 1.5%, 0% for 7 days or more; sales service fee is 0.3%. The ChiNext AI ETF Feeder Fund Class A subscription fee is 1% for amounts below 1 million yuan, 0.6% for 1 million (inclusive) to 2 million yuan, and a flat fee of 1000 yuan per transaction for 2 million yuan (inclusive) or above; redemption fee within 7 days is 1.5%, 0% for 7 days or more; no sales service fee is charged.
Risk Warning: The HuaBao ChiNext AI ETF passively tracks the ChiNext Artificial Intelligence Index. The base date for this index is December 28, 2018, and its release date was July 11, 2024. The annual price changes for the ChiNext Artificial Intelligence Index from 2021 to 2025 were: 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively. The index constituents are adjusted periodically according to its compilation methodology, and its backtested historical performance does not indicate future results. The mention of index constituents herein is for illustrative purposes only; descriptions of individual stocks are not intended as investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the management company. The fund manager assesses this fund's risk level as R4 - Medium-High Risk, suitable for Aggressive (C4) and above investors. Suitability matching opinions are subject to the selling institution. Any information appearing in this article (including but not limited to individual stocks, commentary, predictions, charts, indicators, theories, any form of expression, etc.) is for reference only, and investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts in this article do not constitute investment advice of any kind to the reader, nor shall they be held liable for any direct or indirect losses arising from the use of this content. Fund investment carries risks; the past performance of a fund does not guarantee its future results, and the performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Invest cautiously in funds.
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