On the afternoon of October 19, the AI computing power sector staged a recovery, with the underlying index of the high-"optical" ChiNext AI ETF (159363) rebounding into positive territory after touching a new low for the year, drawing heightened capital attention.
Among popular individual stocks, Linktel Technologies led gains by rising over 5%, while Range Technology, Wangsu Science & Technology, and Business-intelligence of Oriental Nations each climbed more than 2%. Eoptolink turned positive, and the declines in T&S Communications and Zhongji Innolight narrowed.
On the news front, a wave of share buybacks by A-share technology leaders continues to materialize, with multiple core companies including ChangXin Technology, Montage Technology, Hygon Information Technology, Eoptolink, and Zhongji Innolight successively announcing share repurchase plans.
Listed company buybacks reflect industry-level recognition of their own long-term value and also provide bottom support for the sector. If panic sentiment is concentrated and released during today's session, investors may look at short-term repair trading opportunities in computing hardware and semiconductor directions.
CITIC Securities stated that the magnitude and duration of this round of correction in core AI stocks have already approached those of core new energy stocks between the end of 2021 and the end of April 2022, and the first round of hardware valuation adjustment during the downward revision of the second derivative of the super industry cycle's growth is nearing its end.
For long-term funds that focus on the "first derivative" of AI growth rather than the "second derivative," the current correction is not enough to change the trend. Memory prices, GPU rental prices, and CSP profit margins are the core variables that reflect the direction of the "first derivative."
To position in optical module leaders plus AI applications, attention is suggested on the ChiNext AI ETF (159363) and its off-exchange feeder funds (Class A 023407, Class C 023408), focusing on optical module CPO leaders while also covering AI applications. The underlying index has over 35% weighting in "Zhongji Innolight + Eoptolink + T&S Communications," 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 China Securities Index, the top three constituents of the ChiNext AI Index are Eoptolink (weight 12.98%), Zhongji Innolight (weight 12.09%), and T&S Communications (weight 10.8%).
Reminder: Recent market volatility may be relatively large, and short-term price movements do not predict future performance. Investors must invest rationally based on their own financial conditions and risk tolerance, and pay close attention to position and risk management.
ETF fund fee disclosure: When investors subscribe to or redeem fund shares, subscription and redemption agents may charge a commission of no more than 0.5%. On-exchange trading fees are subject to what securities companies actually charge, and no sales service fee is charged. Feeder fund fee disclosure: 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% on or after 7 days; the sales service fee is 0.3%. The ChiNext AI ETF feeder fund Class A charges a subscription fee of 1% below 1 million yuan, 0.6% for 1 million yuan (inclusive) to 2 million yuan, and 1,000 yuan per transaction for 2 million yuan (inclusive) and above; the redemption fee is 1.5% within 7 days and 0% on or after 7 days; no sales service fee is charged. According to the fund manager's assessment, the risk rating of ChiNext AI ETF is R4-medium-high risk, suitable for aggressive (C4) and above investors, and the suitability matching opinion should be subject to the sales institution.
Risk disclosure: ChiNext AI ETF passively tracks the ChiNext AI Index, whose base date is December 28, 2018, and launch date is July 11, 2024. The index's annual returns from 2021 to 2025 were 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively, while the annualized volatility rates over the same period were 23.73%, 27.34%, 38.02%, 45.42%, and 41.1%. The index constituent composition is adjusted in a timely manner according to the index compilation rules, and its back-tested historical performance does not predict the index's future performance. The index constituents mentioned in this article are for display only, and descriptions of individual stocks do not constitute investment advice in any form, nor do they represent the holdings or trading movements of any fund under the manager. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors are responsible for any investment decisions they make independently. In addition, any views, analyses, and forecasts in this article do not constitute investment advice in any form to readers, nor do they bear any responsibility for direct or indirect losses caused by the use of the content of this article. Fund investment involves risks, past performance of a fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Fund investment requires caution. MACD golden cross signals have formed, and these stocks are performing well!
Comments