On November 2, ChiNext AI ETF Hua Bao (159363) surged on heavy volume, gaining 2.48% as of press time, with a turnover of 806 million yuan, ranking first among peers in liquidity.
In terms of capital flows, it received a net subscription of 33.83 million yuan last Friday, and a net inflow of 294 million yuan in just 20 days.
From a valuation perspective, the ChiNext AI Index tracked by ChiNext AI ETF Hua Bao (159363) has a latest price-to-earnings ratio (PE-TTM) of only 30.4 times, at a historical low.
Guosheng Securities stated that leading optical module companies are currently in a "plateau period" of rapid ramp-up of 1.6T products, where a temporary mismatch has emerged between the steep demand from product generation switching and the linear expansion of internal operating systems.
On the demand side, the ramp-up slope of 1.6T is steeper than that of 800G; however, on the internal management and supply chain side, the extended stocking cycle of core materials and the increased complexity of cross-regional factory coordination have both become bottlenecks constraining a short-term surge in shipments.
From the long-cycle perspective of industrial evolution, this "plateau period" is merely a buildup on the growth curve. Once the critical point of internal management integration and supply chain capacity release is crossed, leading companies' performance will be more fully unleashed.
Guosheng Securities continues to recommend companies related to the computing power industry chain, such as optical module industry leaders Zhongji Innolight and Eoptolink, while also suggesting attention to optical device players "one large and five small" — Tianfu Communication plus Shijia Photons, TPC, Changxin Bochuang, Dekeli, and Dongtian Micro; PIC design companies such as Kechuan Technology; AI infrastructure core segments like liquid cooling — Envicool, Gaolan, and Shenling Environment; and AIDC plus computing power leasing such as Dongyangguang.
Jinyuan Securities believes that the current investment logic for leading optical module stocks has shifted from high-speed growth expectations to verification of growth realization capability. After recent sharp declines in the stock prices of key optical module companies, valuations have dropped to relatively low levels, and it is recommended to once again seize investment opportunities in the upstream and downstream of the optical communication industry.
Data shows that half of the weight of the index tracked by ChiNext AI ETF Hua Bao (159363) is concentrated in the optical module CPO sector, while the other half covers domestic computing power and AI software application sectors, forming a balanced layout of "hardware plus applications."
To comprehensively capture AI theme opportunities, pay attention to the first ChiNext AI ETF in the entire market, ChiNext AI ETF Hua Bao (159363), and its off-exchange feeder funds (023407, 023408).
MACD golden cross signals have formed, and these stocks are rising well!
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