Major A-share indices advanced in unison today (June 9th). The SSE STAR & ChiNext 50 ETF (588330), a broad-based fund tracking 50 high-growth leaders from the ChiNext and STAR markets, saw a notable intraday surge in the afternoon, with its on-exchange price currently up 4%. Data from the Shanghai Stock Exchange reveals the ETF has attracted a net inflow of 44.81 million yuan over the past 10 trading days, indicating capital is optimistic about the hard tech sector's prospects and is gradually entering the market.
Among its constituents, semiconductor silicon wafer stocks surged sharply. Xi’An Eswin Material Technology Co.,Ltd. (688783) and National Silicon Industry Group Co.,Ltd. (688126) both hit the 20% daily limit-up. MLCC concept stock Sangn Group Co., Ltd. rose over 16%, photovoltaic equipment leader Jingsheng Mechanical & Electrical Co., Ltd. gained more than 12%, PCB leader Shengyi Electronics Co., Ltd. climbed over 9%, and optical module leader New E-Strong Information Technology Co., Ltd. advanced more than 6%.
Catalyst for the Rally
The semiconductor silicon wafer industry is preparing for a new round of price increases. As of June 8th, following the removal of sales discounts, domestic semiconductor silicon wafer manufacturers have begun explicitly planning a new round of direct price hikes. This marks the formal extension of price transmission from wafer fabs downstream to the materials segment. This marginal industry change is likely the direct catalyst stimulating gains in the semiconductor sector and related company stocks.
The Role of Silicon Wafers
Silicon wafers form the foundational support for the entire semiconductor industry chain. They are the core base material in the midstream semiconductor supply chain and serve as the essential "foundation" for chip manufacturing. Their product performance and stable supply capability directly determine the competitiveness of the semiconductor industry chain. Using ultra-high-purity monocrystalline silicon as the core raw material, key wafer fabrication processes such as photolithography, etching, doping, and thin-film deposition are all carried out on the silicon wafer substrate.
Market Outlook and Analysis
Research from CITIC Securities indicates that global 12-inch wafer fab equipment spending continues to grow. SEMI forecasts that global 12-inch wafer capacity will reach a record 11.1 million wafers per month by 2028, laying the groundwork for 12-inch silicon wafer demand. CITIC Securities anticipates, referencing the previous 2019-2022 silicon wafer cycle of "bottoming-recovery-price hikes," that this cycle will likely see overseas manufacturers leading a broad-based price increase for products, with domestic manufacturers following suit. The timing for this is expected around the second quarter of 2026.
Looking ahead, China Merchants Securities believes that, from a medium-term perspective, the current juncture is not yet the time for a shift in market style or main theme. As the market gradually enters the mid-year report trading window in late June, technology sectors with strong earnings certainty and the highest景气度 are expected to continue outperforming.
Long-Term Performance
Over a longer timeframe, the underlying index (SSE STAR & ChiNext 50 Index) of the SSE STAR & ChiNext 50 ETF (588330) has surged 195.89% since the market uptrend beginning September 24, 2024, significantly outperforming major indices such as the ChiNext 50 Index (175.53%) and the SSE STAR 50 Index (148.28%), leading the pack among hard tech broad-based indices.
Statistical data period: September 24, 2024, to June 8, 2026. The SSE STAR & ChiNext 50 Index's annual gains/losses from 2021 to 2025 were: 0.37%, -28.32%, -18.83%, 13.63%, 60.86%. Index constituent composition is adjusted according to the index compilation rules, and its back-tested historical performance does not indicate future index performance.
One-Stop Access to Core Chinese Technology
The hard tech broad-based fund - SSE STAR & ChiNext 50 ETF (588330) and its off-exchange feeder funds (Class A: 013317 / Class C: 013318) track an index that selects 50 listed companies in strategic emerging industries with larger market capitalizations from the STAR and ChiNext boards. It encompasses popular themes like optical modules, semiconductors, and photovoltaic equipment, with top holdings including leaders such as Contemporary Amperex Technology Co., Limited, Zhongji Innolight Co., Ltd., Cambricon Technologies Corporation Limited, and Semiconductor Manufacturing International Corporation. With a 20% daily price limit, capturing rebounds may be faster. Additionally, this ETF is eligible for Margin Trading and Securities Lending and is part of the Stock Connect program, making it an efficient tool for a one-click allocation to new quality productive forces.
Note: The SSE STAR & ChiNext 50 ETF (588330) was previously known on-exchange as the "双创龙头ETF" (ChuangChuang Leading ETF).
Risk Disclosure: The SSE STAR & ChiNext 50 ETF (588330) passively tracks the SSE STAR & ChiNext 50 Index. The index base date is December 31, 2019, and it was launched on June 1, 2021. Index constituent composition is adjusted according to the index compilation rules, and its back-tested historical performance does not indicate future performance. Index constituents mentioned in this article are for illustrative purposes only. Descriptions of individual stocks do not constitute investment advice in any form, nor do they represent the holding information or trading动向 of any fund managed by the fund manager. The risk rating for this ETF, as assessed by the fund manager, is R4 (Medium-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 stocks, commentary, forecasts, charts, indicators, theories, any form of表述, etc.) is for reference only. Investors must be responsible for any independent investment decisions. Furthermore, any views, analysis, or predictions in this article do not constitute investment advice of any kind to readers, and no responsibility is assumed for any direct or indirect losses arising from the use of this content. Fund investment carries risks. The past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment requires caution.
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