On the morning of October 28, computing power hardware shares rebounded, and the target index of Huabao ChiNext Artificial Intelligence ETF (159363), which focuses on leading optical module companies, surged more than 4% during intraday trading, with high capital trading activity.
The optical module leaders known as the "Yizhongtian" group rallied collectively, with Tianfu Communication leading gains of over 6%, while New Easy Sheng and Zhongji Xuchuang rose 5%.
Chip-related stocks were also active, with edge AI chip company Fuhan Micro hitting the 20% daily limit, and memory chip company Junzheng Shares rising over 13%.
On the news front, a recent Goldman Sachs report significantly raised its global optical module market forecast, projecting the market size to reach $67.7 billion, $131.4 billion, and $148.5 billion in 2026, 2027, and 2028 respectively, representing upward revisions of 33%, 81%, and 115% from previous estimates. Corresponding shipment volumes are expected to reach 548 million, 691 million, and 729 million units over the same period.
At the current juncture, how should investors view computing power and optical communications? Huatai Securities stated that the presentations and exchanges at this year's OCP (Open Compute Project) summit confirmed that the computing power industry trend remains intact. This week's North American cloud厂商 earnings could serve as a key turning point for market expectations, with some AI commercialization gains potentially reflected in related cloud platform revenues. The optical module and optical fiber sectors have already experienced a round of bottoming out, and with earnings catalysts approaching, investors are advised to pay attention to valuation repair opportunities for leading companies.
*To gain exposure to optical module leaders and AI applications, investors may consider Huabao ChiNext Artificial Intelligence ETF (159363) and its off-exchange feeder funds (Class A 023407, Class C 023408), which focus on optical module CPO leaders while also covering AI applications. The target index has a combined weighting of over 35% in Zhongji Xuchuang, New Easy Sheng, and Tianfu Communication, making it a core standard-bearer for AI computing power.
Data source: Shanghai and Shenzhen Stock Exchanges, Wind, etc. Note: As of September 30, 2026, according to the Guozheng Index, the top three constituents of the ChiNext Artificial Intelligence Index are New Easy Sheng (weight 12.98%), Zhongji Xuchuang (weight 12.09%), and Tianfu Communication (weight 10.8%).
Reminder: Market volatility may be significant in the near term, and short-term price movements do not predict future performance. Investors should invest rationally based on their own financial situation and risk tolerance, and pay close attention to position management and risk control.
*Institutional views reference source: Huatai Securities report "How to View Computing Power and Optical Communications at the Current Juncture." ETF fund fee disclosure: When investors subscribe or redeem fund shares, the subscription and redemption agent may charge a commission of no more than 0.5%. On-exchange trading fees are subject to actual charges by securities companies, and no sales service fee is charged. Feeder fund fee disclosure: Huabao ChiNext Artificial Intelligence ETF Initiated Feeder Fund Class C does not charge subscription fees; redemption fees are 1.5% within 7 days and 0% after 7 days (inclusive); sales service fee is 0.3%. Huabao ChiNext Artificial Intelligence ETF Initiated Feeder Fund Class A subscription fees are 1% for amounts under 1 million yuan, 0.6% for amounts between 1 million yuan (inclusive) and 2 million yuan, and 1,000 yuan per transaction for amounts of 2 million yuan (inclusive) and above; redemption fees are 1.5% within 7 days and 0% after 7 days (inclusive); no sales service fee is charged.
According to the fund manager's assessment, Huabao ChiNext Artificial Intelligence ETF is classified as R4-medium-high risk, suitable for aggressive (C4) and above investors. Suitability matching opinions should be based on the sales institution's assessment. Risk disclosure: Huabao ChiNext Artificial Intelligence ETF passively tracks the ChiNext Artificial Intelligence Index. The index base date is December 28, 2018, and the launch date is July 11, 2024. The index's annual returns for 2021-2025 were: 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, with corresponding annualized volatility of 23.73%, 27.34%, 38.02%, 45.42%, and 41.1%. Index constituent stocks are adjusted in a timely manner according to the index compilation rules, and historical backtest performance does not predict future index performance. Index constituent stocks mentioned in this article are for illustrative purposes only, and individual stock descriptions do not constitute investment advice of any form, nor do they represent the holdings or trading activities of any fund under the manager.
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