On Wednesday, January 21st, the ChiNext Artificial Intelligence sector rebounded by over 1%, with strength seen in computing hardware, while AI application stocks continued their correction. Within the computing power segment, CPO (Co-Packaged Optics) concept stocks sustained their upward trajectory, with Zhishang Technology hitting the 20% daily limit up, Liante Technology surging over 12%, and Taicheng Technology, Guangku Technology, and Xinyisheng rising more than 3%. In the AI application space, Yidian Tianxia and Yihualu led the declines, falling over 8%.
Regarding popular ETFs, the ChiNext Artificial Intelligence ETF (159363), which provides dual exposure to both "Computing Power" and "AI Applications," saw its market price rebound over 1%, with daily turnover exceeding 700 million yuan. Notably, a significant wave of late-session buying emerged, reversing the daily net flow into positive territory and resulting in a net subscription of 82 million units for the day! Prior to this, funds had already aggressively accumulated over 1.8 billion yuan worth of shares in the past 10 days.
Earnings expectations for overseas computing power chains, such as CPO optical modules, remain a core driver for fund trading activity.
Tianfeng Securities stated that as the market enters the earnings preview period, it firmly看好 the investment opportunities in core computing power industry chain stocks. AI is driving promising business growth for key suppliers in the computing power chain, highlighting the importance of core manufacturers within the industry. Specifically, the high景气度 in the overseas computing power chain persists, with related companies' financial reports continuously reflecting strong demand linked to AI. The fundamental resonance within this related industry chain is stronger, leading to a持续看好 outlook for investment opportunities in the overseas computing power chain, including optical modules.
Industrial Securities pointed out that since last November, high-growth upstream computing hardware sectors, such as communications and semiconductors, have been among the technology industries with significant upward revisions to profit forecasts, indicating potentially solid fundamental support. On the other hand, from a market performance perspective, the communications sector is also one of the AI hardware areas with relatively lower gains since the start of the year's rally. This combination of "profit forecast upgrades" and "lower relative gains" suggests this sector could attract inflows from fundamentally-focused investors during the earnings season.
Regarding AI applications, the AI application sector has emerged as a main theme since the start of 2026. A CITIC Securities research report suggests that numerous catalysts for AI applications remain on the horizon, and the trend of accelerated AI application deployment is expected to continue. The CES 2026 held at the beginning of the year provided a crucial window into the future direction of AI application implementation. Overall, China holds advantages in the pace of application rollout and user scale, indicating that AI applications still possess substantial room for growth.
As AI development currently transitions from computing infrastructure build-out to application deployment, the ChiNext Artificial Intelligence ETF (159363) and its feeder funds (Class A: 023407, Class C: 023408), which offer one-click exposure to both "Computing Power + AI Applications," stand to benefit more directly from the growth红利 of the AI technology commercialization explosion. In terms of portfolio allocation, the ChiNext AI Index allocates approximately 60% to computing power (primarily optical modules) and about 40% to AI applications, positioning it not only as a core "computing power" play but also as a genuine representative of "AI applications."
Data source: Shanghai and Shenzhen Stock Exchanges, etc. Note: "First in the entire market" refers to the first ETF tracking the ChiNext Artificial Intelligence Index.
*Institutional views reference sources: ① Tianfeng Securities: "CPO May Become the Inevitable Technology Choice for AI Interconnects, Qwen C-End MAUs Surpass 100 Million, AI High景气度 Continues"; ② Industrial Securities: "Spring Rally Still Has Room for New Highs"; ③ CITIC Securities: "Investment Trends in Chinese AI Applications from CES 2026".
ETF Fund Related Fee Description: When investors subscribe for or redeem fund units, the subscription/redemption agent may charge a commission not exceeding 0.5%. On-market trading fees are subject to the rates actually charged by securities firms. Feeder Fund Related Fee Description: The ChiNext AI ETF Feeder Fund Class C does not charge a subscription fee; the redemption fee is 1.5% within 7 days and 0% for 7 days (inclusive) or more; the sales service fee is 0.3%. The ChiNext AI ETF Feeder Fund Class A subscription fee is 1% for amounts below 1 million yuan, 0.6% for 1 million yuan (inclusive) to 2 million yuan, and a flat fee of 1,000 yuan per transaction for 2 million yuan (inclusive) or above; the redemption fee is 1.5% within 7 days and 0% for 7 days (inclusive) or more; no sales service fee is charged.
Risk Warning: The HuaBao ChiNext Artificial Intelligence ETF is passively managed and tracks the ChiNext Artificial Intelligence Index. The base date of this index is December 28, 2018, and its release date is July 11, 2024. The annual price changes of the ChiNext Artificial Intelligence Index from 2021 to 2025 were: +17.57%, -34.52%, +47.83%, +38.44%, and +106.35%, respectively. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its backtested historical performance is not indicative of future index performance. The index constituents mentioned herein are for illustrative purposes only; descriptions of individual stocks are not investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the management company. The fund manager assesses this fund's risk等级 as R4 - Medium-High Risk, suitable for Aggressive (C4) and above investors. Suitability matching opinions are subject to 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, and investors are 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 liability is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks; the past performance of a fund is not indicative of 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.
The MACD golden cross signal has formed, and these stocks are performing well!
Comments