On April 24, computing power chip stocks strengthened during trading, with Hua Hong Grace Semiconductor Limited surging over 14%, and Hygon Information Technology Co., Ltd., Jiehua Technology, and Shengke Communications-U each rising more than 10%. SMIC and Cambricon also gained over 6%. The Huabao Shanghai Sci-Tech Innovation Board Chip ETF (589190), which focuses on comprehensive chip industry exposure, saw its on-market price jump 3.62%.
The global AI computing power wave continues to gain momentum. Overnight, the Philadelphia Semiconductor Index rose 1.71%, breaking through the 10,000-point milestone and marking its 17th consecutive day of gains—a record-breaking winning streak. Chip manufacturing giant Intel reported better-than-expected first-quarter earnings after Thursday's market close. Driven by surging demand for server chips amid the AI infrastructure build-out, Intel's Q1 revenue increased 7% year-over-year to $13.6 billion, with further growth anticipated in the second quarter. Optimism around the earnings report pushed Intel's stock up over 18% in after-hours trading.
According to Central China Securities, in the first three months of 2026, China's integrated circuit exports grew by 13% in volume and 73% in value compared to the same period last year. The proportion of export value relative to import value rose from 37.1% in 2022 to 56.6% in the first two months of 2026. As domestic AI chips accelerate development this year, expansion into overseas markets is expected.
Additionally, the memory "super cycle" is translating into earnings performance. BIWIN Storage reported first-quarter revenue of 6.814 billion yuan, up 341.53% year-over-year, and net profit attributable to shareholders of 2.899 billion yuan, turning around from a loss of 197 million yuan in the same period last year. Notably, the company’s Q1 net profit has already far exceeded its full-year 2025 total, reaching 3.3 times that amount. TrendForce forecasts that general-purpose DRAM contract prices will increase 58% to 63% quarter-over-quarter in Q2, while NAND Flash contract prices are expected to rise 70% to 75%.
Cinda Securities highlighted that upstream segments of the AI industry chain—including chip design and manufacturing—are worth watching, encompassing both overseas AI chip firms and domestic substitution players. The memory chip sector also holds potential for technological breakthroughs, with related companies likely to benefit from growing global AI computing demand and accelerated domestic substitution.
To capture opportunities in the chip industry's "super cycle," high-growth alternatives are preferred. Public information indicates that the Huabao Shanghai Sci-Tech Innovation Board Chip ETF (589190) and its feeder funds (Class A: 021224, Class C: 021225) passively track the SSE Sci-Tech Innovation Board Chip Index. While maintaining balanced exposure across the chip industry chain, the ETF allocates over 90% of its weight to core areas such as integrated circuits and semiconductor equipment, reflecting high technological content and strong barriers to entry.
Data source: Shanghai and Shenzhen stock exchanges.
ETF fee note: When subscribing or redeeming fund shares, subscription/redemption agents may charge a commission of up to 0.5%, which includes fees collected by stock exchanges and registration institutions. Feeder fund fee note: For Huabao SSE Sci-Tech Innovation Board Chip ETF Feeder Fund A, the subscription fee (front-end load) is 1,000 yuan per transaction for subscriptions of 2 million yuan or more, 0.2% for subscriptions between 1 million yuan and 2 million yuan, and 0.5% for subscriptions below 1 million yuan. The redemption fee is 1.5% for holdings under 7 days and 0% for holdings of 7 days or more. Huabao SSE Sci-Tech Innovation Board Chip ETF Feeder Fund C does not charge a subscription fee; the redemption fee is 1.5% for holdings under 7 days and 0% for holdings of 7 days or more. A sales service fee of 0.2% applies.
Risk disclosure: The Huabao Sci-Tech Innovation Chip ETF passively tracks the SSE Sci-Tech Innovation Board Chip Index, which has a base date of December 31, 2019, and was launched on June 13, 2022. This product is issued and managed by Huabao Fund. Distributors are not responsible for the product's investment, redemption, or risk management. Investors should carefully read the Fund Contract, Prospectus, and Key Fund Information Document to understand the fund’s risk-return characteristics and select products matching their risk tolerance. The fund manager assesses this fund as R4—medium to high risk—suitable for investors with a suitability rating of C4 or above. The performance of other funds managed by the fund manager does not guarantee this fund’s performance. Past performance is not indicative of future results. All investments involve risk; caution is advised. Sales agencies (including the fund manager’s direct sales channels and other distributors) evaluate the fund’s risk based on relevant laws and regulations. Investors should refer to the suitability assessment provided by the fund manager. Suitability opinions may vary among sales agencies, and the risk rating issued by sales agencies shall not be lower than that assigned by the fund manager. Differences may exist between the fund’s risk-return profile as described in the fund contract and its risk rating due to varying assessment criteria. Investors should understand the fund’s risk-return profile and make independent investment decisions based on their objectives, time horizon, experience, and risk tolerance. The China Securities Regulatory Commission’s registration of this fund does not indicate a guarantee of its investment value, market prospects, or returns. All investments carry risks; caution is advised.
MACD golden cross signals have formed, indicating strong upward momentum for several stocks.
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