China's major A-share indices advanced collectively today (April 14), with the hard-tech broad-based ETF covering high-growth leaders from STAR Market and ChiNext—Huabao Dual Innovation 50 ETF (588330)—rising up to 1.9% during the session. It is currently up 1.8%, marking six consecutive days of gains and reaching a new all-time high.
Among constituent stocks, optical module leaders Zhongji Innolight and Eoptolink both hit record highs. Additionally, semiconductor leader Jiangbolong led gains with over 7%, software development leader Kingsoft Office rose more than 6%, and component leader Sanhuan Group climbed over 5%.
Over a longer period, Huabao Dual Innovation 50 ETF (588330) has surged 140.05% since its listing low, significantly outperforming major broad-based indices such as the ChiNext Index (124.23%), STAR Composite Index (114.54%), and STAR 50 Index (104.23%).
Data period: February 5, 2024, to April 13, 2026. The annual performance of the Sci-Tech Innovation 50 Index from 2021 to 2025 was 0.37%, -28.32%, -18.83%, 13.63%, and 60.86%, respectively. Index constituents are adjusted periodically according to compilation rules, and past performance does not indicate future results.
On the news front, data from New York-based provider Ornn shows that spot rental prices for Nvidia's full range of GPUs in cloud data centers have risen sharply in recent months. According to Ornn's Compute Price Index, the hourly rental rate for Nvidia's latest Blackwell series chips has reached $4.08, up 48% from $2.75 two months ago.
Dongwu Securities pointed out that the current shortage of computing power is significant, which may enhance the bargaining power of computing power leasing providers. Their business models are evolving from pure raw computing power rental to model services or token-sharing models—shifting from "selling computing power" to "selling tokens." This transition could substantially improve profitability and shift valuation metrics from PE to PS.
In terms of earnings, as of April 12, 27 constituents of Huabao Dual Innovation 50 ETF (588330) have released their 2025 annual reports. Among them, 26 companies reported profits, with 23 posting double-digit year-on-year growth in net profit attributable to shareholders. Cambricon, Lead Intelligent, Shenghong Technology, Runze Technology, and Zhongji Innolight achieved triple-digit increases in net profit.
BOCI Securities believes that the true market theme lies not in the Middle East but in technology. At present, the tech sector continues to hit new highs, driven by alignment in industry trends, earnings expectations, and capital pricing. For A-shares, the key determinant of medium-term direction may not be short-term geopolitical disturbances but whether tech industry trends continue to strengthen, industry mapping expands, and market risk appetite remains willing to pay a premium for "certain growth prospects." In a sense, the sustained new highs in tech stocks provide the answer themselves.
[Unfazed by Rotation, One-Click Access to China's Core Tech] The hard-tech broad-based ETF—Huabao Dual Innovation 50 ETF (588330) and its off-exchange feeder funds (Class A: 013317 / Class C: 013318)—selects 50 large-cap listed companies in strategic emerging industries from the STAR Market and ChiNext, covering popular themes such as optical modules, semiconductors, and photovoltaic equipment. Additionally, this ETF is eligible for margin trading and Stock Connect programs, serving as an efficient tool for investing in new quality productive forces.
Notably, Huabao Dual Innovation 50 ETF (588330) has gained 54.54% from the beginning of 2025 to the end of March 2026, outperforming major indices like the ChiNext Index (48.72%), STAR Composite Index (44.68%), and STAR 50 Index (27.04%).
Note: Huabao Dual Innovation 50 ETF (588330) was previously known as Dual Innovation Leaders ETF.
Risk Disclaimer: Huabao Dual Innovation 50 ETF passively tracks the CSI Sci-Tech Innovation 50 Index, which has a base date of December 31, 2019, and was launched on June 1, 2021. The index's annual performances from 2021 to 2025 were 0.37%, -28.32%, -18.83%, 13.63%, and 60.86%, respectively. Index constituents are adjusted according to compilation rules, and past performance does not guarantee future results. Mentioned index constituents are for illustrative purposes only; individual stock descriptions are not investment advice and do not represent holdings or trading activities of the fund manager. The fund manager rates the Dual Innovation Leaders ETF as R4—moderately high risk, suitable for aggressive (C4) and above investors. Suitability assessments are subject to sales institutions. All information provided (including but not limited to stocks, commentary, forecasts, charts, indicators, theories, and expressions) is for reference only; investors are responsible for their investment decisions. Views, analyses, and predictions herein do not constitute investment advice, and no liability is accepted for direct or indirect losses resulting from the use of this content. Fund investments carry risks; past performance does not indicate future results, and the performance of other funds managed by the fund manager does not guarantee this fund's performance. Invest with caution.
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