On June 25th, the optical module and CPO (Co-Packaged Optics) sector experienced a sharp intraday rally, with Eoptolink Technology Inc.,Ltd. (SHE: 300502) soaring over 8% to reach a new all-time high. The ChiNext AI ETF Huabao (159363), which holds over 40% exposure to key players like Eoptolink, Zhongji Innolight, and TFC Optical Communication, rose more than 1% in the afternoon session, approaching its previous high. Inflows into the fund over the past two days have exceeded 2 billion yuan.
The catalyst for the move stems from the onset of earnings validation within the overseas AI computing supply chain. Micron's better-than-expected financial results and its significant upward revision of capital expenditure guidance further confirm the robust demand in this sector. As a core component of AI cluster networks, optical modules stand to benefit directly from the expansion of capital expenditures by cloud service providers. Leading manufacturers such as Zhongji Innolight and Eoptolink have secured positions in the supply chains of major overseas tech giants, with shipments expected to increase sequentially in Q2 and Q3, lending strong certainty to the sector's earnings performance.
Furthermore, Citi has raised its price targets for Eoptolink Technology Inc.,Ltd. and TFC Optical Communication. Analysts, including Kyna Wong, stated in a report that the global optical interconnect market could reach a total size of $92 billion by 2028, representing a three-year compound annual growth rate of 65%. They noted that during this period, the average selling price is expected to see an 18% CAGR due to technological upgrades. Eoptolink Technology Inc.,Ltd. is seen as a beneficiary of the evolution towards 3.2T and NPO (Near-Packaged Optics) technologies, while TFC Optical Communication is considered a core beneficiary of the CPO trend.
Regarding investment opportunities in optical modules, Guosheng Securities also advised investors to "focus on mid-year reports, where performance is king." The current period marks the start of the mid-year earnings verification window. Industry trends in the second quarter indicate that the high growth trajectory of the AI computing chain continues to materialize, with core segments like large-capacity optical modules having clear fundamental support. With the accelerated ramp-up of 1.6T optical modules and easing upstream component bottlenecks, leading optical module companies are poised for an acceleration in Q2 earnings.
For a consolidated approach to investing in leading optical communication companies, the ChiNext AI ETF Huabao (159363) and its corresponding feeder funds (Class A: 023407, Class C: 023408) are recommended for focus. The underlying index has approximately 50% exposure to optical modules, with high concentration in the key "Eoptolink, Zhongji, TFC" trio. About 30% of the portfolio is allocated to AI applications, positioning it not only as a core play on computing power but also as a representative of AI applications.
It is noteworthy that as of June 22, 2026, the latest AUM of the ChiNext AI ETF Huabao (159363) reached a record high of 8.118 billion yuan, ranking first in size within the dual-innovation (ChiNext and STAR Market) AI theme segment across the market. Its average daily turnover over the past six months exceeded 900 million yuan, also leading the AI theme segment in terms of trading activity.
ETF-related fee information: When subscribing for or redeeming fund units, subscription and redemption agents may charge a commission of up to 0.5%. Fees for on-exchange trading are subject to the rates set by securities firms, and no sales service fee is charged.
Feeder fund fee information: The ChiNext AI ETF Feeder Fund Class C does not charge a subscription fee. A redemption fee of 1.5% applies for holdings under 7 days, and 0% for 7 days or more. A sales service fee of 0.3% is charged. For the ChiNext AI ETF Feeder Fund Class A, subscription fees are: 1% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and a flat fee of 1,000 yuan per transaction for amounts of 2 million yuan or more. The redemption fee structure is the same as Class C. No sales service fee is charged for Class A.
Risk Disclosure: The ChiNext AI ETF Huabao passively tracks the ChiNext Artificial Intelligence Index. The base date for this index is December 28, 2018, and its release date is July 11, 2024. The index's annual performance from 2021 to 2025 was 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively. The index's constituent stocks are adjusted according to its compilation rules, and its past backtested performance is not indicative of its future results. The mention of index constituents in this article is for illustrative purposes only; descriptions of individual stocks do not constitute investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the manager. The fund manager assesses this fund's risk level as R4 (Medium-High Risk), suitable for Aggressive (C4) and above investors. Suitability matching opinions should be based on the sales institution's assessment. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only. Investors are solely responsible for their independent investment decisions. Furthermore, any views, analysis, or forecasts in this article do not constitute investment advice of any kind to readers, and no liability is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks. The past performance of a fund is not indicative of its future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Invest with caution.
A MACD golden cross signal has formed, indicating positive momentum for these stocks.
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