Technology stocks faced a consolidation and pullback today (August 10), with the HUABAO SHANGHAI SCIENCE AND TECHNOLOGY INNOVATION BOARD ARTIFICIAL INTELLIGENCE TRADING OPEN ENDED INDEX SEC (589520), which focuses on the domestic AI industrial chain, trading deep in negative territory. The fund's intraday price once fell over 3.4% and is currently down 2.64%, with frequent premium trading occurring, indicating stronger buying pressure. This suggests that some investors are optimistic about the future performance of the domestic AI chain and are entering the market on the dip. Among the constituent stocks, Roborock led the gains with a rise of over 3%, EZVIZ rose more than 1%, and Fudan Microelectronics, Juzen, Amlogic, and New Point Software also traded in positive territory. The remaining 24 stocks were all in the red, with VeriSilicon leading the losses with an 8% decline, and Cambricon falling over 6%, dragging down the index's performance.
Notably, domestic models and domestic computing power are entering a "two-way verification" phase. The National Development and Reform Commission stated that as of the end of June, the national intelligent computing power scale reached 2.8 times that of the same period last year. Companies such as DeepSeek and Moonshot AI have successively released several trillion-parameter open-source large models, and the cumulative global downloads of domestic large models have exceeded 10 billion. The adaptation between domestic models and domestic computing power chips is accelerating. The stronger the hardware, the larger the model; the larger the model, the stronger the hardware demand—this virtuous cycle is accelerating.
Capital Securities believes that with the successive releases of models like Kimi K3, domestic large models have approached or even matched overseas leading models in terms of Chinese language understanding, vertical scenario adaptation, and enterprise-level application evaluations. Thanks to a vibrant open-source ecosystem, continuously optimized usage costs, and expanding industry applications, the gap between domestic and overseas leading models is narrowing. As the token call volume of domestic models continues to grow rapidly, the supply-demand balance for domestic computing power may tighten further.
Huaxin Securities said that the continued increase in global cloud capital expenditures is driving demand for AI computing power infrastructure construction. Domestic chip design companies are expected to achieve leapfrog development amid the wave of domestic substitution.
The HUABAO SHANGHAI SCIENCE AND TECHNOLOGY INNOVATION BOARD ARTIFICIAL INTELLIGENCE TRADING OPEN ENDED INDEX SEC (589520) and its affiliated funds (A-share: 024560, C-share: 024561) focus on the domestic AI industrial chain. The constituent stocks include 30 larger-capitalization companies listed on the Science and Technology Innovation Board that provide basic resources, technology, and application support for AI. The semiconductor industry accounts for 70.4% of the weight, offering strong offensive characteristics. GPU concept stocks and AI application concept stocks account for 41.98% and 23.19% of the weight, respectively. With a 20% price fluctuation limit, this ETF provides a low-threshold way to capture breakthroughs in the technology innovation sector. The ETF is also a margin trading and short selling target, serving as an efficient tool for a one-stop investment in domestic computing power.
Note: The GPU concept and AI application concept content are compared to the GPU Index (8841701.WI) and AI Application Index (980112.CNI), respectively. Source: Shanghai and Shenzhen stock exchanges, etc., as of August 3, 2026.
Reminder: Recent market volatility may be significant, and short-term price movements do not predict future performance. Investors must make rational investment decisions based on their own financial situation and risk tolerance, and pay close attention to position and risk management. ETF fee explanation: The ETF does not charge a sales service fee, and subscription and redemption agents may charge a commission of up to 0.5%, which includes related fees charged by stock exchanges, registration institutions, etc. On-exchange trading fees are subject to the actual charges of the securities company. Risk disclosure: The HUABAO SHANGHAI SCIENCE AND TECHNOLOGY INNOVATION BOARD ARTIFICIAL INTELLIGENCE TRADING OPEN ENDED INDEX SEC passively tracks the Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence Index. The index base date is December 30, 2022, and it was published on July 25, 2024. The composition of the index's constituent stocks is adjusted according to the index compilation rules. Its back-tested historical performance does not predict the future performance of the index. The individual stocks and index constituent stocks mentioned in this article are for display purposes only. Descriptions of individual stocks do not constitute any form of investment advice and do not represent the holdings or trading trends of any fund managed by the fund manager. The fund manager has assessed the risk level of the HUABAO SHANGHAI SCIENCE AND TECHNOLOGY INNOVATION BOARD ARTIFICIAL INTELLIGENCE TRADING OPEN ENDED INDEX SEC as R4 (medium-high risk), suitable for aggressive (C4) and above investors. The suitability matching opinion is subject to the sales institution. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only. Investors must be responsible for their own investment decisions. Furthermore, any views, analyses, and forecasts in this article do not constitute investment advice to readers, nor are they responsible for any direct or indirect losses caused by the use of this content. Fund investment involves risk. Past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Fund investment should be made with caution.
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