Today (January 20), the Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF (589520), which focuses on the domestic AI industry chain, experienced a market-driven consolidation and correction, with its intraday price currently down 1.48%. Real-time turnover exceeded 51 million yuan, indicating active trading!
Capital appears undeterred by market fluctuations, showing a trend of buying on dips, which reflects a firm continued optimism regarding the future performance of the domestic AI industry chain. Data shows that the Huabao Sci-Tech AI ETF (589520) has attracted capital inflows for five consecutive days, totaling 119 million yuan!
Regarding constituent stocks, Wasion Information led the gains, rising over 6%, while Montage Technology rose more than 3%, and Sunyard Technology gained over 2%. Stocks like Tianzhun Technology and VeriSilicon Microelectronics also followed with increases. On the other hand, Zhongke Star图 fell over 4%, and Cambricon Technologies and Lingyun Guang fell more than 3%, ranking among the top decliners and weighing on the index performance.
On the news front, over the past year, the business of Alphabet selling its Gemini AI model has surged dramatically. Gemini API calls have more than doubled, reaching 85 billion; Gemini Enterprise has grown to 8 million subscribers. Informed sources indicate this is expected to boost revenue for the core business of Google Cloud server sales, as funds customers allocate for AI often lead to additional spending on other Google products.
China Securities Co., Ltd. pointed out that the AI industry is currently experiencing frequent developments. Overseas, xAI and Anthropic have successively secured financing, while domestically, the "AI + Manufacturing Policy" has been introduced. Companies like Zhipu AI and MiniMax saw significant gains upon listing, and the upcoming launch of DeepSeek-V4 is expected to trigger a new wave of AI application enthusiasm. As model capabilities continuously improve, particularly with the significant reduction in reasoning and long-context window costs, downstream AI application scenarios are accelerating into the commercialization validation phase. Key areas to watch include search & marketing, coding, multimodal AI, AI agents, and AI for Science, with the commercialization progress of related companies expected to accelerate further.
CITIC Securities stated that in 2025, the resonance between autonomous control and AI is expected to drive impressive performance in related sectors. Looking ahead to 2026, this industry trend is likely to be further strengthened, with "autonomous control and AI computing power" potentially becoming the dominant, absolute main theme throughout the year.
It is noteworthy that the target index of the Sci-Tech AI ETF (589520) maintains a balanced allocation across four key segments: application software, terminal applications, terminal chips, and cloud chips. The AI industry chain is evolving from the cloud towards the edge and from reliance on foreign technology towards autonomous control. The Sci-Tech AI direction aligns well with the current state of the AI industry chain and may possess greater potential.
[The Beacon of Domestic Substitution, Sci-Tech Self-Reliance and Strengthening] Against the backdrop of technological friction, the importance of information security and industrial security has become increasingly prominent. As a core technology, achieving autonomous control in AI is crucial. The Sci-Tech AI ETF (589520) and its feeder funds (Feeder A: 024560, Feeder C: 024561) focus on the domestic AI industry chain and possess strong characteristics of domestic substitution. Their constituent stocks include leading domestic GPU companies (e.g., Cambricon Technologies), leading domestic ASIC companies (e.g., VeriSilicon Microelectronics), and leading AI application companies (e.g., Kingsoft Office). The top ten holdings account for nearly 70% of the weight, with the largest sector, semiconductors, comprising nearly half, indicating high concentration and strong offensive potential. Furthermore, this ETF is a margin trading and securities lending target, making it an efficient tool for a one-stop allocation to domestic computing power.
Risk Warning: The Sci-Tech AI ETF and its feeder funds passively track the SSE Science and Technology Innovation Board Artificial Intelligence Index. The base date for this index is December 30, 2022, and it was published on July 25, 2024. The index's annual gains/losses for 2023 and 2024 were 12.68% and 32.36%, respectively. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its backtested historical performance is not indicative of future index performance. The individual stocks and index constituents mentioned in this article are for illustrative purposes only; descriptions of individual stocks are not investment advice of any form and do not represent the holdings information or trading动向 of any fund managed by the management company. The fund manager assesses the risk rating of the Huabao Sci-Tech AI ETF as R4 - Medium-High Risk, suitable for aggressive (C4) and higher risk-profile investors. The appropriateness matching opinion is subject to the selling institution. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only. 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 no liability is accepted for any direct or indirect losses arising from the use of the content herein. Fund investment carries risks; the past performance of a fund is not indicative of its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment should be undertaken with caution.
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