On Friday (May 22), over 59.2 billion yuan in main capital flowed into the electronics sector, making it the top fund-attracting sector among the 31 Shenwan primary industries. The Huabao Electronic ETF (515260), which aggregates core leaders in the electronics sector, saw its intraday gain reach as high as 4.47% before closing up 4.36%, setting another historical record for its closing gain. Constituent stocks BOE A, Victory Giant Technology (Huizhou) Co.,Ltd., Shennan Circuits Co., Ltd., and Dongshan Precision Manufacturing Co., Ltd. occupied the top four spots on the A-share fund attraction list.
Constituent stocks experienced a wave of limit-up gains. Panel leader BOE A hit the limit-up for two consecutive sessions. PCB leaders such as Avary Holding (Shenzhen) Co., Limited, Shengyi Technology Co., Ltd., Shennan Circuits Co., Ltd., and Shennan Circuits Co., Ltd. saw four stocks hit the limit-up. Multiple stocks including Sanhuan Group, JCET Group Co., Ltd., and GigaDevice Semiconductor Inc. reached new all-time highs.
Why did the electronics sector show such strong performance today? Looking at specific segments: 1. Regarding PCB, NVIDIA's next-generation Rubin platform will adopt an orthogonal backplane architecture, replacing copper cables with PCBs featuring ultra-high layer counts (over 100 layers) and M9-grade materials. This is expected to drive the per-unit PCB value to more than triple. Guojin Securities pointed out that AI demand is robust in the short and medium term. Currently, many AI-PCB companies have strong order books, are operating at full capacity with sold-out production, and are actively expanding capacity, suggesting sustained high-performance growth is likely. 2. Regarding panels, BOE A signed a three-year cooperation memorandum with Corning to jointly develop four cutting-edge fields, including glass substrate packaging carriers. Industry insiders noted that this move sparks imagination for "glass substrate + AI packaging." The market is not merely trading on short-term performance but on the possibility of a panel leader entering the advanced packaging arena. This not only accelerates the maturity of the glass substrate packaging technological path and the formation of industry standards but also promotes panel manufacturers' cross-over into the semiconductor packaging field. It further encourages the market to shift its valuation logic for panel companies from "cyclical stocks" to "technology growth stocks."
Looking ahead, CITIC Securities is optimistic that "price increases + AI + independent controllability" could become a strong,贯穿全年的主线 for the electronics sector. The industry's positive momentum is expected to continue, with AI remaining the primary driver. Overseas and domestic computing power are expected to grow in resonance, and the expansion of advanced logic and memory production is likely to accelerate. The firm maintains a firm positive outlook on the overall future performance of the electronics sector.
It is worth noting that the underlying index (the Electronic 50 Index) of the Huabao Electronic ETF (515260) has accumulated a gain of 115.70% over the past year, outperforming peer indices like the CS Electronics Index (108.67%) and major broad-based indices such as the ChiNext 50 Index (105.76%), the STAR 50 Index (79.89%), and the CSI 300 Index (23.71%).
Statistical data period: May 22, 2025, to May 22, 2026. The full-year performance of the Electronic 50 Index for the past five complete years is as follows: 2021, 3.27%; 2022, -38.63%; 2023, 1.03%; 2024, 27.45%; 2025, 43.49%. The index constituents are adjusted according to its compilation rules, and its historical backtested performance does not indicate future index performance.
【Embracing Tech Giants, Seizing Developmental Opportunities】 The Huabao Electronic ETF (515260) and its feeder funds (Class A: 012550 / Class C: 012551) passively track the Electronic 50 Index. They are heavily weighted in the semiconductor and consumer electronics industries, aggregating热门产业 like AI chips, automotive electronics, 5G, and printed circuit boards (PCB). Top holdings include Luxshare Precision Industry Co., Ltd., Cambricon Technologies Corporation Limited, Foxconn Industrial Internet Co., Ltd., and Semiconductor Manufacturing International Corporation. Additionally, this ETF is eligible for margin trading, securities lending, and Stock Connect programs, making it an efficient tool for a one-stop investment in the core assets of the electronics sector.
* Institutional views referenced from: ① Guojin Securities report "看好AI覆铜板/PCB及核心算力硬件、半导体设备及苹果产业链" published May 17; ② CITIC Securities report "电子行业2026年一季报业绩总结—行业景气持续向上，坚定看好四大方向" published May 7.
Risk Disclosure: The Huabao Electronic ETF passively tracks the CSI Electronic 50 Index. The index base date is December 31, 2008, and its publication date is July 22, 2009. Index constituents are adjusted according to its compilation rules, and its historical backtested performance does not indicate future index performance. Individual stocks and index constituents mentioned herein are for illustrative purposes only. Descriptions of individual stocks do not constitute investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the fund manager. The fund manager assesses the risk rating of the Electronic ETF as R3-Medium Risk, suitable for investors with a Balanced (C3) or higher risk profile. Suitability matching opinions should be based on销售机构. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, any form of表述, etc.) is for reference only. 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. The past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Caution is advised in fund investment.
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