On the first trading day after the Spring Festival holiday (February 24), the three major A-share indices collectively rose, with the ChiNext Index expanding its gain to 2%. The Dual Innovation Leaders ETF (588330), a broad-based hard-tech ETF covering leading high-growth companies from the STAR Market and ChiNext Board, saw strong momentum, with its intraday increase reaching 2.12%. It is currently up 1.8%, having reclaimed its 5-day and 20-day moving averages during the session.
Among the constituent stocks, the three major optical module companies led the gains. Suzhou Tfc Optical Communication Co.,Ltd. surged over 14%, hitting a new record high, while Zhongji Innolight rose more than 7% and Eoptolink Technology advanced over 4%. Additionally, Runze Technology jumped over 14%, Sanhuan Group gained more than 12%, and stocks such as Montage Technology and Ruijie Networks also posted significant increases.
As A-share trading resumes in the Year of the Horse, the investment direction of incremental funds has drawn considerable attention. According to statistics, the total incremental capital from public funds entering the market exceeds 90 billion yuan, with technology and growth sectors being the key allocation focus. China Securities Co., Ltd. believes that global stock markets performed strongly during the Spring Festival period, with no major risk events, and current market sentiment remains high. A-shares are expected to begin a new round of upward movement after the holiday.
Wind data shows that over the past decade, the Shanghai Composite Index and the ChiNext Index have each recorded a 60% probability of rising on the first trading day after the Spring Festival holiday. An analysis of post-holiday market trends by Kaiyuan Securities indicates that the probability of market gains gradually increases over the 5, 10, and 20 trading days following the holiday.
Central China Securities suggests that by 2026, investors should closely follow the policy direction outlined in the 15th Five-Year Plan recommendations and seize opportunities arising from the deep resonance between the global monetary easing cycle and industrial upgrading trends. The firm remains optimistic about the technological innovation theme, particularly represented by artificial intelligence. Huaan Securities added that industrial trends cannot be ignored, and technology remains the strongest investment theme.
[Exploring New Quality Productive Forces, Investing in China's Version of Nasdaq] The hard-tech broad-based ETF—Dual Innovation Leaders ETF (588330) and its off-exchange feeder funds (Class A: 013317 / Class C: 013318)—track an index that selects the top 50 strategic emerging industry listed companies by market capitalization from the STAR Market and ChiNext Board. The index includes popular themes such as optical modules, semiconductors, and photovoltaic equipment. Additionally, this ETF is eligible for margin trading and Stock Connect programs, making it an efficient tool for investing in new quality productive forces.
Notably, the underlying index of the Dual Innovation Leaders ETF (588330) was the top-performing broad-based index in 2025, with a cumulative gain of 60.86%, outperforming major indices such as the ChiNext 50 (57.45%), ChiNext Index (49.57%), STAR Market Composite Index (46.30%), and STAR 50 Index (35.92%).
ETF fee information: The Dual Innovation Leaders ETF does not charge a sales service fee. Subscription and redemption agents may charge a commission of up to 0.5%, which includes fees collected by stock exchanges and registration institutions. On-exchange trading fees are subject to the rates set by securities firms.
Feeder fund fee details: For the HuaBao CSI Science and Technology Innovation 50 ETF Feeder Fund (Class A), the subscription fee is 1% for amounts below 1 million yuan, 0.6% for amounts between 1 million and 2 million yuan, and a flat fee of 1,000 yuan for amounts of 2 million yuan or more. The redemption fee is 1.5% for holdings of less than 7 days, 0.1% for holdings between 7 and 30 days, and 0% for holdings of 30 days or more. No sales service fee is charged. For the Class C shares, no subscription fee is applied, while the redemption fee is 1.5% for holdings of less than 7 days and 0% for holdings of 7 days or more. A sales service fee of 0.3% is charged.
Risk disclosure: The Dual Innovation Leaders ETF passively tracks the CSI Science and Technology Innovation 50 Index, which has a base date of December 31, 2019, and was launched on June 1, 2021. The index's annual performance from 2020 to 2024 was 86.90%, 0.37%, -28.32%, -18.83%, and 13.63%, respectively. The composition of the index's constituent stocks is adjusted according to its rules, and its historical performance does not indicate future results. The stocks mentioned are for illustrative purposes only and do not constitute investment advice or reflect the holdings or trading activities of the fund manager. The fund manager has rated the Dual Innovation Leaders ETF as R4—moderately high risk, suitable for aggressive (C4) or higher risk-tolerant investors. Suitability assessments are subject to the standards of selling institutions. All information provided is for reference only, and investors are responsible for their investment decisions. The views, analyses, and forecasts presented do not constitute investment advice, and no liability is accepted for any direct or indirect losses resulting from the use of this content. Fund investments carry risks, and past performance does not guarantee future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Investors should exercise caution.
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