The first trading day of November (November 2) saw robust activity in the software development sector, with the Software Development ETF Huabao (159036), which directly targets the forefront of AI applications, rising as much as 3.78% intraday and currently up 2.87%. By sub-sector, fintech concept stocks and AI application concept stocks advanced together, with Hundsun Technologies Inc. (600570) hitting the daily limit up, while Tianyang Technology, Compass, and Yingshisheng each gained over 11%, and Airong Software rose more than 10%, with Fortune Trend, Hithink RoyalFlush, and Foxit Software among others posting substantial follow-on gains.
On the news front, on the evening of October 31, DeepSeek released its Super-agent architecture, which can complete multiple complex tasks in parallel. Western Securities believes that the focus of Agent competition is expected to gradually shift from single-turn Q&A performance to task execution stability, cross-application collaboration efficiency, and long-term service capability. Platforms with advantages in user entry points, application ecosystems, and accumulated work context are expected to build stronger user stickiness.
At the policy level, the Ministry of Industry and Information Technology and seven other departments previously jointly issued the "Implementation Opinions on the 'AI + Manufacturing' Special Action," proposing to promote the deep application of 3 to 5 general-purpose large models in manufacturing by 2027, launch 1,000 high-level industrial intelligent agents, and promote 500 typical application scenarios. The previously issued "Opinions on Deeply Implementing the 'AI +' Action" clarified that by 2027, the penetration rate of new-generation intelligent terminals, intelligent agents, and other applications should exceed 70%, and exceed 90% by 2030.
Looking overseas, Anthropic's Claude Sonnet 5.5, released on September 28, saw its score on Terminal-Bench 4.0 rise from 10.3% in the previous generation to 70.6%, and its OSWorld 2.1 score increase from 57.0% to 80.1%, with simultaneous leaps in multi-file programming and long-cycle knowledge work capabilities. Enterprise-side payment data is also following suit, with Salesforce disclosing that its Agentforce-related annual recurring revenue exceeds $1.5 billion, up 240% year-on-year.
In terms of market space, the number of active Agents globally is projected to grow from approximately 28.6 million in 2025 to 2.216 billion by 2030, a compound annual growth rate of about 139%. Guosheng Securities, citing IDC data, noted that the number of tasks executed by Agents annually will climb from 44 billion to 415 trillion over the same period, with task complexity driving a leap in Token consumption, and the center of gravity of the industry chain will tilt toward segments with edge intelligence and computing infrastructure deployment. Guojin Securities believes that 2026 will mark the official arrival of AI applications in full bloom. Models are moving from Chat toward long Agents capable of continuously executing tasks, with application scope expanding from content generation to completing business work; vendors with customer bases and industry experience are more likely to convert capabilities into revenue, and picks-and-shovels stocks, Infra, customized IT delivery, and industry software are four main lines worth long-term tracking.
In terms of valuation, the software development index currently has a price-to-earnings ratio (PE, TTM) of 157.80 times, lower than more than 81% of the time since listing, highlighting its valuation cost-effectiveness.
The End of Hardware May Be the Spring of Software
The Software Development ETF Huabao (159036) passively tracks the Software Development Index, directly targeting the frontier of AI applications, with 100% allocation to the software development industry, encompassing 107 constituent stocks and covering fields such as AI + finance, AI + healthcare, AI + office, AI + education, AI + information security, and AI + government affairs. The software development sector currently offers valuation cost-effectiveness, and with AI empowerment + Xinchuang drive + policy reinforcement, the software development direction is expected to ride the momentum. Its feeder funds (Class A: 028914, Class C: 028915) are currently in hot offering.
The Big Data ETF Huabao (516700) passively tracks the CSI Data Index, deeply tied to domestic computing power (IDC, servers) and AI application fields, covering the entire data technology process and encompassing popular concepts such as cloud computing, IDC (computing power leasing), computing power, and AI applications, involving fields such as big data storage, big data production, big data analysis, big data operations platforms, and big data applications, better reflecting the overall development of China's big data industry.
The Xinchuang ETF Huabao (562030) and its feeder funds (Class A: 024050, Class C: 024051) passively track the CSI Xinchuang Index, focusing on the field of independent and controllable information technology, covering core links of the Xinchuang industry chain such as basic hardware, basic software, application software, information security, and external devices. Its heavyweight stocks include leaders in storage chips (Biwin Storage, Longsys), domestic computing power (Hygon Information, Sugon), and AI applications (Hundsun Technologies, Kingsoft Office, 360), and under the influence of the "2+8+N" policy, related software and hardware Xinchuang orders are expected to accelerate.
Source: Shanghai and Shenzhen Stock Exchanges, etc., as of November 2, 2026. The fund manager assesses the risk levels of Software Development ETF Huabao, Big Data ETF Huabao, and Xinchuang ETF Huabao as R3-Medium Risk, suitable for investors with balanced (C3) and above profiles; please refer to the sales institution for suitability matching opinions. ETF fee-related notes: ETFs do not charge sales service fees; when investors subscribe or redeem fund shares, the subscription and redemption agent brokers may charge a commission of no more than 0.3%. On-exchange trading fees are subject to what the securities company actually charges. Risk disclosure: Software Development ETF Huabao passively tracks the CSI All-Share Software Development Index, whose base date is December 31, 2021, and was published on March 29, 2023; Big Data ETF Huabao passively tracks the CSI Big Data Industry Index, whose base date is December 31, 2012, and was published on October 18, 2016; Xinchuang ETF Huabao passively tracks the CSI Xinchuang Index, whose base date is December 29, 2017, and was published on December 21, 2012. This fund is issued and managed by Huabao Fund, and the distribution agency does not assume responsibility for investment and redemption of the product. Investors should carefully read fund legal documents such as the "Fund Contract," "Prospectus," and "Fund Product Information Summary" to understand the risk-return characteristics of the fund and choose products suitable for their own risk tolerance. Sales institutions (including the fund manager's direct sales agency and other sales institutions) conduct risk assessments of the fund in accordance with relevant laws and regulations; investors should promptly pay attention to the suitability opinions issued by sales institutions and take their matching results as the basis, as opinions on suitability among sales institutions are not necessarily consistent, and the risk rating evaluation results of fund products issued by fund sales institutions shall not be lower than the risk rating evaluation results made by the fund manager. The risk-return characteristics of the fund in the fund contract differ from the fund risk rating due to different consideration factors. Investors should understand the risk-return situation of the fund, carefully select fund products in light of their own investment objectives, horizon, investment experience, and risk tolerance, and bear risks themselves. The registration of this fund by the China Securities Regulatory Commission does not indicate that it makes a substantive judgment or guarantee on the investment value, market prospects, and returns of the fund. Past performance of the fund and its net value levels do not predict its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the performance of this fund. Funds involve risks, and investment must be cautious! MACD golden cross signals have formed, and these stocks are performing well!
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