The market witnessed a dramatic intraday rebound for technology leaders on July 8th. The technology ETF Huabao (515000), which aggregates leaders in the "electronics + communications + computer" sectors, saw its real-time price swing exceed 5%. It plunged over 2.5% in the morning session before surging to a gain of 2.5% before noon, and was up over 1% intraday. The fund has attracted net inflows exceeding 4.5 billion yuan over the past five trading days.
Among its constituent stocks, AI server companies led the charge. Ieit Systems Co.,Ltd. hit the daily limit-up, while Sangfor Technologies Inc. surged by 20% (limit-up) and Sugon Information Industry Co.,Ltd. gained over 7%. The semiconductor industry chain also strengthened, with ACM Research (Shanghai), Inc. and Rockchip Electronics Co., Ltd. both rising more than 7%. The CPO (co-packaged optics) module sector continued its recovery, with Zhongji Innolight Co., Ltd. and TFC Optical Communication Co., Ltd. advancing over 2%.
On the news front, on July 7th, domestic AI server leader Ieit Systems Co.,Ltd. released its H1 2026 earnings preview, indicating net profit could grow by up to 288% year-over-year for the first half, with Q2 profit skyrocketing over 300% sequentially. This demonstrates the high profitability from the AI computing infrastructure boom translating into strong performance for leading companies, reaffirming the robust earnings resilience of the computing power industry chain.
Citic Securities Company Limited noted that as overseas AI assets have entered a phase of high crowding, high correlation, and high volatility, international capital has begun seeking differentiated sources of returns again. Domestic computing power, representing a differentiated "Plan B," remains resilient and is expected to attract foreign capital allocation. Coupled with the approaching earnings season, the firm recommends focusing on segments with high certainty of earnings growth and reasonable valuations. In terms of industry momentum, it recommends domestic FABs and equipment with positive narratives, as well as the undervalued optical communication sector. Within the price increase chain, segments with high AI exposure and early price hikes, such as memory and PCB upstream materials, are expected to see higher earnings realization.
For exposure to the technology bull market, focus on leaders. The Technology ETF Huabao (515000) and its feeder funds (Feeder A: 007873, Feeder C: 007874) select 50 large-scale, high-market-share, high-growth, and high-R&D-investment listed companies from the technology sectors (electronics, computers, communications, biotech) in the Shanghai and Shenzhen markets. This portfolio represents the core assets of A-share technology leaders, combining "hard tech beta" with "alpha from high-quality leaders."
From the perspective of CSI secondary industry distribution, semiconductors, electronics, and communication equipment & technical services account for approximately 90% of the weight in the CSI Technology Leaders Index, indicating high purity. This means the index holdings are almost entirely focused on hardcore technology areas, highly aligned with current market themes like the AI computing chain, semiconductor localization, and optical communication. The top ten constituents aggregate leaders from various sub-sectors such as optical modules, semiconductor equipment, memory chips, and PCBs.
In terms of performance, the intraday price of Technology ETF Huabao (515000) has frequently hit new highs this year, with its underlying index showing strong performance, highlighting its ongoing allocation value. As of June 30, 2026, the CSI Technology Leaders Index has risen 72% year-to-date, significantly outperforming other popular tech indices like the STAR 50 over the same period. It acts like a "Technology Broad-Based Pro Max" version, serving as a quality tool for gaining exposure to the technology theme.
Note: Technology ETF Huabao passively tracks the CSI Technology Leaders Index. The index base date is June 29, 2012, and its release date is March 20, 2019. The annual historical returns of the CSI Technology Leaders Index from 2021 to 2025 were: -3.92%, -34.84%, 0.81%, 11.50%, and 51.54% respectively. The corresponding annualized volatility rates were 21.46%, 26.5%, 19.83%, 36.36%, and 27.34%. The index constituent stocks are adjusted according to its compilation rules, and its back-tested historical performance does not indicate future index performance.
Data Source: Shanghai and Shenzhen Stock Exchanges, etc. Note: "The first domestic" refers to the first ETF tracking the CSI Technology Leaders Index.
ETF Fee Description: When investors subscribe for or redeem fund shares, the subscription/redemption agent may charge a commission not exceeding 0.5%. Intraday trading fees are subject to the actual charges by securities firms, and no sales service fee is charged.
Feeder Fund Fee Description: For Huabao Technology ETF Feeder Fund A, the subscription fee is 1.00% for amounts below 1 million yuan, 0.60% for amounts between 1 million (inclusive) and 2 million yuan, and a flat fee of 1,000 yuan per transaction for amounts of 2 million yuan (inclusive) and above. The redemption fee is 1.50% for holdings within 7 days, 0.50% for holdings between 7 days (inclusive) and 180 days, and 0.00% for holdings of 180 days (inclusive) and above. No sales service fee is charged. For Huabao Technology ETF Feeder Fund C, no subscription fee is charged. The redemption fee is 1.50% for holdings within 7 days and 0.00% for holdings of 7 days (inclusive) and above. The sales service fee is 0.40% per annum. ETF subscription/redemption agents may charge a commission not exceeding 0.5%. Intraday trading fees are subject to the actual charges by securities firms.
Risk Disclosure: Technology ETF Huabao passively tracks the CSI Technology Leaders Index. The index base date is June 29, 2012, and its release date is March 20, 2019. The index constituent stocks are adjusted according to its compilation rules, and its back-tested historical performance does not indicate future index performance. The index constituents mentioned herein are for illustrative purposes only. Descriptions of individual stocks do not constitute any form of investment advice and do not represent the holdings information or trading动向 of any fund managed by the fund manager. The fund manager assesses the risk level of this fund as R3 - Medium Risk, suitable for Balanced (C3) and above investors. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only. Investors must be 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 responsibility is taken for any direct or indirect losses arising from the use of this content. Fund investment involves risks. The past performance of a fund does not indicate its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Invest in funds with caution.
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