On Monday (January 26th), while the AI sector generally experienced a pullback, the ChiNext Artificial Intelligence segment staged a strong reversal to close in positive territory in late trading, primarily driven by the computing power sub-sectors such as IDC data centers and CPO optical modules! In the IDC concept space, Wangsu Technology surged by the 20% daily limit in late trading, while Guanghuan Xinwang soared over 8%. For CPO optical modules, Ruijie Networks jumped nearly 13%, Lantech climbed over 7%, and Tianfu Communication advanced more than 3%.
Among popular ETFs, the ChiNext Artificial Intelligence ETF (159363), which offers dual exposure to "computing power + AI applications," staged a robust late-session rebound to close up 0.56%, finishing above all its moving averages. The ETF recorded substantial volume with a daily turnover of 628 million yuan. Recent capital inflows have been aggressive, with cumulative net purchases exceeding 2.1 billion yuan over the past 10 trading days!
Regarding the IDC data center sector, currently a lower-position segment within computing power, multiple positive catalysts are expected to drive a repricing of the sector. Guosheng Securities pointed out that capital expenditure plans from major domestic firms like ByteDance have increased significantly, marginal improvements are appearing on the chip supply side, and coupled with the continuous iteration of domestic large language models, these factors are prompting a restart of data center bidding activities by major domestic companies. With both valuations and price levels of the IDC sector currently at bottom intervals, the sector is entering an investment window transitioning from valuation repair to earnings realization.* For the CPO optical module sector, Guosheng Securities stated that the strong demand in the optical communication industry has reached a consensus, and the market is currently digesting an overly crowded trading structure. Meanwhile, the earnings cycle reflecting the relative strength among companies continues to provide micro-level validation for the market through the dynamic changes in the market capitalization ratios of leading companies. In the long run, leading optical module companies are expected to continuously expand their leading advantages by leveraging first-mover benefits and delivery capabilities.* As AI development currently progresses from computing power infrastructure construction to application deployment, the ChiNext Artificial Intelligence ETF (159363) and its off-exchange feeder funds (Class A: 023407, Class C: 023408), which provide one-click access to both "computing power + AI applications," stand to benefit more directly from the growth dividends of the commercial explosion in AI technology. In terms of sector allocation, the ChiNext Artificial Intelligence index allocates approximately 60% of its weight to computing power (leading optical module companies + leading IDC companies) and about 40% to AI applications, making it not only a core "computing power" play but also a genuine representative of "AI applications." Data source: Shanghai and Shenzhen Stock Exchanges, etc. Note: "First in the entire market" refers to the first ETF tracking the ChiNext Artificial Intelligence Index. *Institutional viewpoints referenced from: ① Guosheng Securities "Marginal Changes in IDC"; ② Guosheng Securities "Review and Thoughts on Optical Modules." ETF fund fee description: When investors subscribe for or redeem fund shares, the subscription/redemption agent may charge a commission of up to 0.5%. On-exchange trading fees are subject to the actual charges by securities firms. Feeder fund fee description: The ChiNext AI ETF Feeder Fund Class C does not charge a subscription fee; the redemption fee is 1.5% within 7 days and 0% for 7 days (inclusive) or more; a sales service fee of 0.3% is charged. For the ChiNext AI ETF Feeder Fund Class A, the 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 1,000 yuan per transaction for 2 million yuan (inclusive) or above; the redemption fee is 1.5% within 7 days and 0% for 7 days (inclusive) or more; no sales service fee is charged. Risk提示: The HuaBao ChiNext Artificial Intelligence ETF is a passively managed fund that tracks the ChiNext Artificial Intelligence Index. The base date of this index is December 28, 2018, and its release date is July 11, 2024. The annual price changes of the ChiNext Artificial Intelligence Index for 2021-2025 were: 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively. The constituent stocks of the index are adjusted according to its compilation rules, and its backtested historical performance is not indicative of its future performance. The index constituents mentioned herein are 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等级 as R4 - Medium-High Risk, suitable for Aggressive (C4) and above investors; the suitability matching opinion is subject to the selling institution. Any information appearing in this article (including but not limited to individual stocks,评论, predictions, charts, indicators, theories, and any form of expression) 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, and we assume no responsibility for any direct or indirect losses resulting from the use of this article's content. Fund investment carries risks; the past performance of a fund is not indicative of its future performance, and the performance of other funds managed by the fund manager does not guarantee the performance of this fund. Invest cautiously in funds.
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