On Wednesday, March 25th, computing power and electricity sectors once again demonstrated coordinated strength.
In the computing power sector, CPO optical modules, IDC computing power leasing, and related areas were active across the board. Sangfor Technologies Inc. hit the 20% daily limit during the session, while Xcenergic Technology and Ofilm Group rose over 7%. Tianfu Communication advanced more than 6%, and Zhongji Innolight gained over 4%. The leading ChiNext Artificial Intelligence ETF by Huabao Fund (159363), ranked first in scale and liquidity among its peers, closed up 3.7%, surpassing all its moving averages, with heavy trading volume exceeding 700 million yuan.
Green power initiatives ignited the electricity sector. Guangdong Electric Power Development, Baoxin New Energy, Gansu Energy, China Suntien Green Energy, and Zhejiang New Energy were among the stocks that hit the daily limit up. The Power ETF by Huabao Fund (159146), which has a comprehensive portfolio across thermal, hydro, wind, nuclear, and solar power, surged 2.67% on high volume, approaching its previous high.
Analysis points to four primary catalysts currently benefiting the computing power technology sector, represented by CPO optical modules:
First, geopolitical risk premiums have receded, leading to a recovery in risk appetite. Overnight news indicated easing tensions in the Middle East, prompting profit-taking in safe-haven sectors and a shift towards more volatile tech growth stocks. Second, token data has ignited demand expectations. The National Data Administration disclosed that China's average daily token calls have exceeded 140 trillion, growing over a thousandfold in two years. This data confirms the explosive growth in AI inference demand, directly fueling infrastructure sectors like computing power leasing and optical communications. Third, technological breakthroughs and policy catalysts are at play. China Information Technology Group achieved a breakthrough in ultra-high-capacity 5Pb/s optical transmission technology. The policy concept of "computing-power synergy," which links computing power with electricity supply, has enhanced the certainty of technology infrastructure development. Fourth, there is performance validation and rising price expectations. Overseas optical module leader Lumentum reported sold-out capacity, providing micro-level confirmation of strong industry demand.
In the power sector, the "computing-power synergy" theme received further impetus. Relevant documents from Shenzhen proposed creating localized benchmark demonstrations for zero-carbon data centers integrating "PV/offshore wind power + energy storage + direct green power supply," facilitating local consumption of computing power demand and efficient use of green electricity. From a medium-to-long-term perspective, the AI computing power explosion has raised concerns about potential "power shortages." Against a backdrop of global electricity scarcity and geopolitical conflicts, computing-power synergy is emerging as a new growth driver.
To capitalize on AI infrastructure opportunities, investors are advised to focus on the ChiNext Artificial Intelligence ETF (159363) and its off-exchange feeder funds (Class A: 023407, Class C: 023408), which are positioned to benefit directly from the commercial explosion of AI technology. The ETF's portfolio allocates approximately 60% to computing power (including optical module/CPO leaders) and about 40% to AI applications, making it not only a core "computing power" play but also a genuine representative of "AI application" exposure.
To seize opportunities in AI energy demand, consider the Power ETF by Huabao Fund (159146). Its underlying index focuses on the electric utilities sector, with comprehensive exposure to thermal, hydro, wind, nuclear, and solar power. This allows it to capture growth potential from new energy capacity expansion while leveraging the high dividends and stable cash flows of traditional power leaders to mitigate market volatility, achieving a dual fit of "defensive foundation + growth potential." Note: Its off-exchange feeder fund (Code: 026949) is currently in a hot issuance period.
Data source: Shanghai and Shenzhen Stock Exchanges, etc. As of February 28, 2026. The Huabao ChiNext Artificial Intelligence ETF had a latest size of 6.745 billion yuan, with an average daily turnover of 885 million yuan over the past six months, ranking first in both size and turnover among the 26 ETFs tracking the ChiNext AI Index, STAR AI Index, and STAR Market & ChiNext AI Index.
ETF fee explanation: When subscribing for or redeeming fund shares, subscription/redemption agents may charge a commission of up to 0.5%. On-market trading fees are subject to the rates charged by the securities firm; no sales service fee is charged.
Huabao ChiNext AI ETF Feeder Fund fee explanation: Class C of the Huabao ChiNext AI ETF Feeder Fund charges no 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 Class A, subscription fees are 1% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and a flat 1,000 yuan per transaction for 2 million yuan and above; redemption fees are 1.5% for holdings under 7 days, and 0% for 7 days or more; no sales service fee is charged.
Huabao Power ETF Feeder Fund fees: ① Subscription fee rate: 0.3% for amounts below 2 million yuan; a flat 1,000 yuan per transaction for 2 million yuan and above. ② Application fee rate: 0.3% for amounts below 2 million yuan; a flat 1,000 yuan per transaction for 2 million yuan and above. ③ Redemption fee rates: For holdings under 7 days, 1.5% for both individual and institutional investors; for holdings of 7 days or more, 0% for individual investors; for institutional investors: 1% for 7-30 days, 0.5% for 30-180 days, and 0% for 180 days or more. ④ Sales service fee: None.
Risk提示: The Huabao ChiNext Artificial Intelligence ETF passively tracks the ChiNext Artificial Intelligence Index. The index base date 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. Index constituent stocks are adjusted according to the index methodology; past index performance does not indicate future results. Constituent stocks mentioned are for illustrative purposes only; descriptions are not investment advice and do not represent the holdings or trading activities 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 are subject to the selling institution. Any information appearing herein is for reference only; investors are responsible for their own investment decisions. Furthermore, any views, analysis, or forecasts herein do not constitute investment advice of any kind to the reader, and no liability is accepted for any direct or indirect losses resulting from the use of this content. Fund investment carries risks; past performance is not indicative of future results; the performance of other funds managed by the manager does not guarantee this fund's performance. Invest with caution.
MACD golden cross signals have formed, indicating positive momentum for these stocks.
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