On March 11, the market displayed a fluctuating upward trend, with the Shenzhen Component Index and the ChiNext Index showing strength in the early session before paring gains in the afternoon. The ChiNext Index closed up 1.31%. Driven by this performance, ChinaAMC's ChiNext 50 ETF (159949) rose 1.55% for the day, closing at 1.575 yuan. The ETF recorded a turnover rate of 6.29% and a trading volume reaching 14.09 billion yuan, ranking first among similar target ETFs.
In terms of liquidity, this ETF has seen consistently active trading recently. As of March 11, ChinaAMC's ChiNext 50 ETF (159949) accumulated a total trading volume of 230.93 billion yuan over the past 20 trading days, averaging 11.55 billion yuan per day. Since the beginning of the year, over 42 trading days, its cumulative trading volume reached 618.41 billion yuan, with a daily average of 14.72 billion yuan. As of March 10, the ETF's latest circulating market capitalization stood at 220.29 billion yuan.
On the news front, the sector was ignited by the bustling International Battery Exhibition and strong earnings from CATL. From March 11 to 13, South Korea's largest international battery exhibition, "InterBattery 2026," was held at COEX in Seoul, attracting 667 companies from the global battery industry chain. Samsung SDI publicly showcased for the first time a pouch-type all-solid-state battery sample developed specifically for physical AI applications like humanoid robots, drawing significant market attention to next-generation battery technology.
Industry data from the China Automotive Battery Innovation Alliance indicated that in 2025, China's cumulative production of power and energy storage batteries reached 1,755.6 GWh, a year-on-year increase of 60.1%. Domestic sales of power batteries grew by 51.8% year-on-year. The dual drivers of energy storage and electric vehicle demand are providing core momentum for the continued expansion of the lithium battery market.
Leading company performance was particularly strong. CATL reported revenue of 423.7 billion yuan for 2025, a 17% increase year-on-year, and net profit attributable to shareholders of 72.2 billion yuan, surging 42% year-on-year, translating to a daily net profit of nearly 200 million yuan. Following this, mainstream institutions including HSBC Qianhai, Nomura, and Jefferies collectively raised their target prices for the stock, further intensifying market focus on the new energy industry chain.
From an institutional perspective, the synergy between computing power and power is emerging as a new investment theme, with changes in power supply systems presenting opportunities. CITIC Securities released a report stating that the "Two Sessions" and the Government Work Report proposed long-term plans to accelerate a comprehensive green transition and establish a new type of power system. A series of major ultra-high voltage projects are expected to be included in planning, clarifying long-term development expectations. Top-level design explicitly supports developing new smart economy formats centered on "computing power + power" synergy. Considering the emphasis on domestic demand and the advancement of new formats, the report recommends focusing on core equipment companies related to major domestic demand projects, digital power grids, and computing-power synergy.
Tianfeng Securities noted in a report that, driven by artificial intelligence, data center power demand is forecast to continue its rapid growth. To enhance computing performance and reduce the total cost of ownership (TCO), it is crucial to continuously improve power conversion efficiency and power density from the grid to the core. Under multiple pressures, Vertical Power Delivery (VPD), with its shorter power delivery paths, lower PDN impedance, superior transient response, and more efficient board space utilization, has become a key technology supporting high-computing-power, high-integration AI chips. Tianfeng Securities is optimistic about the investment opportunities arising from the transformation of power supply systems in the AI era.
ChinaAMC's ChiNext 50 ETF (159949) provides a convenient tool for investors with a long-term positive outlook on China's technology and growth sectors. The product has delivered a return of 51.21% over the past three years, outperforming its benchmark and ranking 263rd among 1,652 similar products. Investors can trade this ETF directly through a stock trading account or participate via its feeder funds (Class A: 160422; Class C: 160424; Class I: 022654; Class Y: 022976). In terms of strategy, adopting a systematic investment plan or building positions in phases is recommended to smooth out short-term volatility, while closely monitoring the earnings performance of constituent stocks and relevant policy developments.
Risk Warning: Fund investments carry risks, and caution is advised. The ChiNext 50 ETF is a fund product characterized by relatively high risk and high expected returns, and its net asset value performance is closely linked to the ChiNext market. Investors should carefully read the fund's legal documents, assess their own risk tolerance, and make investment decisions prudently.
A MACD golden cross signal has formed, and certain stocks are performing well.
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