The computing power leasing concept showed strength early in the trading session today (May 18th). HuaBao Big Data ETF (516700), which covers popular themes like computing power leasing and AI applications, was particularly active in the morning, with its intraday gain reaching 2.24% and currently up 2.15%.
This movement may be driven by the accelerated commercialization of AI applications. Coupled with the fact that the big data industry, compared to computing power hardware sectors like optical modules and semiconductors, is at a relatively lower valuation level, funds might be positioning early based on a catch-up logic. HuaBao Big Data ETF (516700) has accumulated a net inflow of 171 million yuan over the past five trading days.
Among its constituent stocks, CETC Digital rose by the daily limit, Eastcompeace surged over 10%, Sugon, UCloud, and Chengdi Xiangjiang gained more than 5%, with stocks like Easysent and Yunsai Zhilian also following the upward trend.
On the news front, on May 16th, the topic "Computing Power Network is Coming" trended on Weibo. A single network, a 7 trillion yuan investment, and 188 PFLOPS of intelligent computing power... this wave of computing infrastructure construction, strongly driven by top-level policy, is advancing at an unprecedented pace.
This month's State Council executive meeting explicitly proposed "strengthening the planning and construction of water networks, new-type power grids, computing power networks, next-generation communication networks, urban underground pipeline networks, and logistics networks." Regarding the capital budget, the National Development and Reform Commission stated that total investment in the "six networks" and related fields in 2026 is expected to exceed 7 trillion yuan.
The Ministry of Industry and Information Technology officially launched the national computing power infrastructure project in February 2026. The core is to build a "1+M+N" three-level node system—comprising 1 national computing power internet service node, M regional nodes, and N industry-specific nodes—forming a unified national account for computing power resources to promote coordinated scheduling. The National Data Administration subsequently clarified its focus on four key directions: the "East Data, West Computing" project, integrated computing power network monitoring and scheduling, computing-power coordination, and edge computing construction, aiming to solidify the foundation for the rapid development of artificial intelligence.
China Post Securities believes that the exponential growth in Token call volume signifies the closure of the loop from supply to value for data elements through a quantifiable pricing model. Competition in large models is shifting from capability contests to usage volume contests. As AI Infrastructure (AIInfra) serves as the core link supporting the expansion of call scale, it implies that underlying support systems like computing power, networks, and data scheduling must expand simultaneously or even ahead of demand. These sectors will fully benefit from the sustained rise in Token demand.
Huachuang Securities points out that price hikes by cloud providers and the expansion of AI expenditures are jointly reshaping the logic of the AI Data Center (AIDC) industry. The wave of price increases enhances the return expectations for computing power assets, while exploding demand elevates the industry's size ceiling, propelling AIDC from a capital-intensive industry to a core infrastructure sector characterized by high barriers and high certainty. Leading players with technological iteration capabilities and resource integration efficiency are expected to continue benefiting from this structural dividend.
[Data Security as Paramount, Technological Self-Reliance and Strength] HuaBao Big Data ETF (516700), deeply tied to domestic computing power (IDC, servers) and the AI application field, passively tracks the CSI Big Data Industry Index. It covers the entire data technology process, involving areas such as big data storage, production, analysis, operation platforms, and application, better reflecting the overall development of China's big data industry. Its top holdings include leading stocks like Sugon, iFLYTEK, Unisplendour, Inspur Information, China Great Wall, and China National Software.
The underlying index of HuaBao Big Data ETF (516700) encompasses several hot concepts. As of the end of April, the weight allocations to its constituent stocks in the cloud computing, IDC (computing power leasing), computing power, and AI application concepts were 88.15%, 44.99%, 43.49%, and 28.23% respectively.
Note: The previous on-market abbreviation for HuaBao Big Data ETF (516700) was Big Data Industry ETF. Risk Disclosure: HuaBao Big Data ETF passively tracks the CSI Big Data Industry Index. The base date for this index is December 31, 2012, and it was launched on October 18, 2016. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its back-tested historical performance does not indicate future performance. References to index constituents 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 holdings information or trading trends of any fund managed by the asset manager. The fund manager assesses the risk level of this fund as R3 - Medium Risk, suitable for Balanced (C3) and above investors. The appropriateness matching opinion should be based on the sales institution. 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 to readers in any form, and no responsibility is assumed 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 represent 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.
A MACD golden cross signal has formed, and these stocks are performing well.
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