On the final trading day of June (June 30th), the computing power concept performed strongly. Big Data ETF Huabao (516700), which is deeply tied to domestic computing power (IDC, servers) and AI application fields, saw its intraday price surge up to 5.71%, closing up 5.49%. Data from the Shanghai Stock Exchange shows this ETF has accumulated a net capital inflow of 40.35 million yuan over the past 60 trading days, reflecting active capital deployment towards lower-priced tech sectors.
Among its constituent stocks, Dawning Information Industry Co.,Ltd. and Unisplendour Corporation Limited hit the daily limit-up, while Hongjing Technology Co., Ltd. surged over 12%, UCloud Technology Co., Ltd. rose more than 11%, and stocks like Beijing Oriental Nation and RunZe Technology followed with significant gains.
Information Innovation ETF Huabao (562030), focused on the field of independent and controllable information technology, saw its intraday price close sharply higher by 3.74%, with its daily K-line potentially stepping out of a volatile upward pattern. The ETF traded at a wide premium intraday, closing with a premium rate as high as 1.25%, indicating stronger buying pressure. Among its constituents, Dawning Information Industry Co.,Ltd. hit the limit-up, Beijing Oriental Nation surged over 9%, Suzhou Guoxin Semiconductor Technology Co., Ltd. rose more than 8%, and stocks like Jiangsu Zhuoyi Information Technology Co., Ltd., Topsec Technologies Group, Inc., Inspur Electronic Information Industry Co., Ltd., and Loongson Technology Corporation Limited followed with substantial gains.
On the news front, on June 29th, a State Council executive meeting explicitly called for "intensifying efforts to promote breakthroughs in artificial intelligence innovation, accelerating key technology research and the construction of ultra-large-scale intelligent computing clusters, and strengthening the supply of high-quality data." This follows the earlier inclusion of the national integrated computing power network into the "15th Five-Year Plan" as one of 109 major projects, with the construction of the "Six Networks" accelerating from conceptual design to the blueprint implementation stage. With high-frequency, high-level policy focus, computing power is being positioned as a new type of public infrastructure, as universally accessible as water and electricity.
Previously, at NVIDIA's 2026 Annual General Meeting (held June 24th), Jensen Huang presented a transformative industry assessment: the current AI infrastructure buildout is not a short-term speculative theme, but a national-level foundational construction wave spanning decades, comparable in scale to power grids, national transportation networks, and the early internet. According to calculations from several leading domestic and international institutions, the five-year period from 2026 to 2030 represents a golden window for concentrated global AI infrastructure investment. The scale of capital expenditure in this cycle far exceeds the total industry investment of the past decade, making it the single largest infrastructure cycle in human history.
CITIC Securities pointed out that the computing power network has been included in the national "Six Networks" major projects, representing a core infrastructure direction for the "15th Five-Year Plan." As trillions in investment gradually materialize, computing power infrastructure is officially becoming a foundational and strategic facility in the digital economy era, with long-term, sustained policy dividends. Against the backdrop of restricted supply of high-end overseas chips, the pace of constructing independent, controllable intelligent computing centers and computing power hubs continues to accelerate, benefiting the entire industry chain simultaneously.
Soochow Securities believes that domestic computing power substitution has reached a strategic inflection point, with the ecosystem for "domestic models and domestic chips" accelerating its closure. Independent and controllable computing power infrastructure is the core carrier for AI and information innovation, with computing power procurement in key sectors such as government affairs, finance, and state-owned enterprises tilting comprehensively towards domestic solutions. Independent computing power infrastructure has moved from the "pilot verification" stage into "large-scale deployment," with concentrated project launches for local intelligent computing centers and industry computing power platforms. Demand across the upstream chain, including domestic servers, AI chips, and liquid cooling equipment, continues to be released, with the substitution progress exceeding market expectations.
Regarding investment tools, Big Data ETF Huabao (516700) passively tracks the CSI Data Index, deeply binding it to domestic computing power (IDC, servers) and AI application fields. It covers the entire data technology process, involving areas such as big data storage, production, analysis, operation platforms, and application, better reflecting the overall development of China's big data industry. The CSI Data Index encompasses popular concepts; as of the end of May, the weight allocations for cloud computing, IDC (computing power leasing), computing power, and AI application concept constituents were approximately 88.41%, 44.80%, 43.97%, and 27.84%, respectively.
Information Innovation ETF Huabao (562030) and its feeder funds (Class A: 024050, Class C: 024051) passively track the CSI Information Innovation Index, covering core segments of the information innovation industry chain such as basic hardware, basic software, application software, information security, and peripheral equipment. It aggregates leading companies in the information innovation industry, with a heavy allocation to the software development sector. Considering the global landscape, geopolitical factors and the intensifying trend of deglobalization create an urgent need for independent control. From the perspectives of national security, information security, and industrial security, there is a necessity for both strong state support and accelerated enterprise development in the information innovation field.
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