In afternoon trading on December 23, the power equipment sector led gains across the market. The hard-tech broad-based ETF (588330), which fully focuses on new productive forces, saw its intraday price rise over 1%, currently up 0.11% with real-time turnover exceeding 42 million yuan. The ETF is now positioned above all moving averages, showing strong upward momentum technically.
Breaking it down by sector: - Among photovoltaic leaders, Canadian Solar rose over 4%, while Jingcheng Machinery gained more than 1%. - In semiconductors, Cambricon Technologies surged over 3%, with Hygon Information and Shanghai Sinyang Silicon Materials up more than 1%. - In communications, Ruijie Networks climbed nearly 3%, and Runze Technology edged higher.
Notably, the underlying index of the hard-tech broad-based ETF is heavily weighted in electronics, communications, and power equipment, with a combined weighting exceeding 82% as of the latest data. Key highlights: 1. **Electronics**: The computing power chip concept rebounded, with Cambricon up over 3% and Hygon Information rising more than 1%. Industry-wise, Moore Threads unveiled its next-generation GPU architecture "Huagang" at its inaugural MUSA Developer Conference on December 20. Based on a new instruction set, it boosts computing density by 50% and energy efficiency tenfold, supporting AI computing clusters exceeding 100,000 cards.
2. **Communications**: Shanghai Jiao Tong University achieved a breakthrough in next-gen optical chips, a core upstream component of optical modules critical for photoelectric conversion. Their performance directly determines module speed, power consumption, and stability. Zhongyuan Securities noted that with the rapid growth of AI data centers, optical modules—key for intra- and inter-data center connectivity—are poised for sustained expansion.
3. **Power Equipment**: Analysts highlighted that as module prices enter the "1 yuan/W" era, the solar industry has truly moved beyond subsidy reliance and price wars. Rising costs are driving technological upgrades, while surging demand reshapes profit distribution. Global installations continue soaring, with price hikes signaling industry maturity and leading firms' global expansion.
Zhongyuan Securities emphasized aligning with the "15th Five-Year Plan" policy direction in 2026, seizing opportunities from the synergy between global monetary easing and industrial upgrading. They remain bullish on AI-driven tech innovation. Huatai Securities echoed that tech remains the dominant trend.
**Investing in China’s "Nasdaq" via New Productive Forces** Key features of the hard-tech broad-based ETF (588330) and its off-exchange counterparts (Class A: 013317 / Class C: 013318): 1. **Cross-market diversification, 100% strategic emerging**: The index selects top 50 strategic emerging firms by market cap from STAR Market and ChiNext, covering leaders in new energy, photovoltaics, optical modules, semiconductors, and medical devices. The ETF is margin-trade eligible and accessible via Stock Connect, offering efficient exposure to new productive forces. 2. **Growth-oriented "combat fund"**: Amid global tech competition, self-reliance and supply chain control are paramount, positioning China’s tech sector as a "Nasdaq equivalent." 3. **High-beta tool for tech rallies**: The index’s 20% daily price limit enables swift rebounds, acting as a "recovery vanguard." With low entry barriers, investments can start under 100 yuan at current prices. 4. **Aggressive beta capture**: Since its April 8 low, the ETF’s index has surged 89.61%, outperforming ChiNext (76.63%), STAR Composite (53.30%), and STAR 50 (44.48%).
*Data range: April 8, 2025 – December 22, 2025.* *Risk disclosure: The ETF tracks the CSI STAR-ChiNext 50 Index (base date: Dec 31, 2019; launched June 1, 2021). Past performance (2020-2024: +86.90%, +0.37%, -28.32%, -18.83%, +13.63%) is no guarantee of future results. Constituent details are illustrative and not investment advice. The ETF is rated R4 (high risk) for aggressive investors (C4+). Investors assume all risks; no liability is accepted for losses. Fund performance varies; past results don’t guarantee future returns. Invest cautiously.*
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