As of 11:30 AM on November 18, the Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence Trading Open-Ended Index Securities (589520) showed steady performance, with its price rising 1.4% intraday. The trading volume reached RMB 26.1922 million, and the fund's latest size stood at RMB 581 million.
Among its constituent stocks, Amlogic, Foxit Software, and Transwarp Technology performed most prominently, with gains of 8.17%, 6.93%, and 5.03%, respectively. On the other hand, Zhongke Star Atlas, Roborock, and VeriSilicon were relatively weak, declining by 1.49%, 1.44%, and 1.15%, respectively.
In market news, Shengyi Electronics plans a private placement to raise no more than RMB 2.6 billion for the construction of an AI computing HDI production base and high-layer computing power circuit board projects under smart manufacturing. Separately, a subsidiary of Baiao Chemical plans to invest RMB 219 million to lead the development of large-generation dry etching equipment, collaborating with universities and research institutions for R&D.
Guotai Haitong noted that MiniMax has launched a full-modal "product suite," with its text-based large model M2 breaking the "impossible triangle" of performance, speed, and cost with extreme cost-effectiveness, topping the global open-source model rankings. Its video, voice, and music models have also achieved technological breakthroughs, demonstrating China's critical leap from following to leading in AI technology and opening new prospects for commercialization.
Hualong Securities highlighted that the core value of China's domestic AI industry chain lies in meeting the urgent demand for full-chain autonomy in the AI technology wave. From a medium- to long-term perspective, the domestic computing power industry chain has shown differentiated competitive advantages, with breakthroughs in open-source and AI chips paving new paths for domestic AI development, potentially building a collaborative ecosystem from model training and inference to application scenarios. As AI applications become widespread and hardware performance iterates continuously, the domestic AI industry will enter a sustainable growth cycle.
Kaiyuan Securities believes that amid major-power competition, technological security remains the most critical theme, with AI and domestic substitution offering long-term certainty. China Securities Co., Ltd. stated that under complex international circumstances, the importance of technological self-reliance has become more prominent, and the localization of the AI industry chain is accelerating, promoting a closed-loop domestic AI ecosystem for secure and controllable development.
[The Light of Domestic Substitution: Innovation and Self-Reliance] Against the backdrop of technological friction, information security and industrial security have gained prominence. As a core technology, achieving autonomy in AI is crucial. The Huabao Shanghai AI ETF (589520) and its feeder funds (Feeder A: 024560, Feeder C: 024561) focus on China's domestic AI industry chain, featuring strong domestic substitution characteristics. Constituent stocks are companies with the largest revenue or best positioning in their segments, benefiting from the accelerated AI integration in edge chips/software. Compared to direct investment in STAR Market stocks, the ETF offers low-threshold exposure and a 20% daily price limit, delivering higher efficiency during market surges. The top ten holdings account for over 70% of the portfolio, with semiconductors making up more than half of the largest sector allocation, reflecting high concentration and strong offensive potential.
Data sourced from SSE, SZSE, and public materials.
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