Amid potential geopolitical sentiment fluctuations, the Science and Technology Innovation Artificial Intelligence ETF (589520), which focuses on domestic AI industry chains, experienced a market-adjusted pullback on March 3, with its场内price currently down 3.62%. Investors optimistic about the future performance of domestic computing power may have encountered an opportunity to position during the decline.
Among constituent stocks, Stone Technology, AsiaInfo Security, and Kingsoft Office managed gains, while the remaining 27 stocks declined. Transwarp Technology, UCloud Technology, and VeriSilicon Microelectronics led the losses with drops exceeding 7%, weighing on the index performance.
On the news front, DeepSeek is set to launch its latest large model V4 next week, featuring native support for image, video, and text generation capabilities. This marks the first major version update since DeepSeek introduced its R1 reasoning model in January 2025 and is expected to further address market demand for low-cost, open-source models domestically.
Caixin Securities noted that as AI application user penetration rates increase, major manufacturers aim to leverage high-frequency consumption scenarios during the Spring Festival to transition AI technology from chat tools to life assistants, potentially accelerating the commercialization process of AI applications. Subsequent attention should remain on the AI commercialization progress of leading internet companies and related investment opportunities in AI applications.
Bank of China Securities specifically highlighted a historic inflection point in the token call volume of domestic large models—during the week of February 16-22, Chinese models reached a weekly call volume of 5.16 trillion tokens, surpassing the 2.94 trillion tokens of U.S. models for the first time. Four of the top five models by platform call volume were from Chinese manufacturers. The dual drivers of "performance going global" and "price competitiveness going global" are expected to sustain growth in domestic large models. Against the backdrop of restricted overseas computing power chip supplies, cloud service providers may increasingly favor deploying more cost-effective domestic computing power clusters. While geopolitical events involving the U.S. and Iran may temporarily impact sentiment in the technology sector, the long-term rationale remains unchanged, and the domestic computing power chain still offers配置value.
The Science and Technology Innovation Artificial Intelligence ETF Huabao (589520) and its feeder funds (Feeder A: 024560, Feeder C: 024561) focus on the domestic AI industry chain. Their constituent stocks include leading domestic GPU manufacturers (such as Cambricon), leading domestic ASIC companies (such as VeriSilicon Microelectronics), and AI application leaders (such as Kingsoft Office). The semiconductor industry accounts for nearly half of the weightings, providing strong offensive potential; the software industry represents over 30% of the weightings and may benefit from catch-up trends in AI applications. Additionally, this ETF is a margin trading标的, serving as an efficient tool for一键布局domestic computing power.
ETF fee-related说明: The Science and Technology Innovation Artificial Intelligence ETF Huabao does not charge a sales service fee. Subscription and redemption agents may charge a commission of up to 0.5%, which includes relevant fees collected by stock exchanges and registration institutions.场内trading fees are subject to the actual charges by securities firms.
Feeder fund fee-related说明: The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF Feeder Fund (Class A) has a subscription fee rate of 1,000 RMB per transaction for subscription amounts of 2 million RMB (inclusive) or more, 0.6% for amounts between 1 million RMB (inclusive) and 2 million RMB, and 1% for amounts below 1 million RMB. The redemption fee rate is 1.5% for holding periods under 7 days and 0% for holding periods of 7 days (inclusive) or more, with no sales service fee charged. The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence ETF Feeder Fund (Class C) does not charge a subscription fee. The redemption fee rate is 1.5% for holding periods under 7 days and 0% for holding periods of 7 days (inclusive) or more, with a sales service fee of 0.3%.
Risk提示: The Science and Technology Innovation Artificial Intelligence ETF Huabao passively tracks the Shanghai Science and Technology Innovation Board Artificial Intelligence Index, which has a base date of December 30, 2022, and was launched on July 25, 2024. The index's annual gains/losses for 2023 and 2024 were 12.68% and 32.36%, respectively. The composition of index constituents is adjusted according to the index compilation rules, and its historical backtest 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 nor represent the持仓information or trading动向of any fund managed by the management company. The fund manager assesses the risk level of the Science and Technology Innovation Artificial Intelligence ETF Huabao as R4-medium to high risk, suitable for aggressive (C4) and above investors. Suitability matching opinions should be based on sales institutions. 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, analyses, or forecasts herein do not constitute investment advice of any form to readers, and no liability is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks; past performance of funds does not represent their future performance, and the performance of other funds managed by the fund manager does not guarantee the fund's performance. Fund investment requires caution.
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