The IDC (computing power rental) sector advanced, potentially benefiting from a sharp increase in API calls for Zhipu. On April 1, the popular Big Data ETF Huabao (516700), which gains from surging token demand, saw its intraday price rise by up to 2.56%, and is currently up 1.94%, reclaiming its annual moving average during the session.
Among the constituent stocks, Ucloud Technology Co.,Ltd. led gains with an increase of over 8%, followed by Orient National Communication rising more than 7%. Stocks such as Yunshan Li Fei-U, Wangsu Technology, Tuowei Information, and Runze Technology also posted significant gains.
At the Zhipu 2025 performance briefing, CEO Zhang Peng noted that Zhipu's API call pricing for the first quarter of 2026 increased by 83%. Despite this, market demand continues to outstrip supply, with call volume growing by 400%. Zhipu has now become one of the leading domestic providers in terms of paid token consumption.
Additionally, on March 29, the Shanghai Artificial Intelligence Laboratory, in collaboration with related entities, launched the "Super Intelligence Converged Computing" platform. This initiative provides foundational support for original innovation, including unified scheduling of computing power and data directly usable for AI training.
Guolian Minsheng Securities pointed out that breakthroughs in domestic large models like Zhipu and MiniMax have fully activated two major growth engines: token exports and the "lobster" initiative. Alongside the trend of rising prices, China's cloud computing industry may be approaching a significant inflection point, potentially catalyzing simultaneous high growth in both revenue and profits.
Focused on domestic computing power (IDC, servers) and AI applications, the Big Data ETF Huabao (516700) passively tracks the CSI Big Data Industry Index. It covers areas including big data storage, production, analysis, operational platforms, and applications. Its top holdings include leading stocks such as Sugon, iFlytek, Unisplendour, Inspur, Great Wall, and China National Software.
Note: The Big Data ETF Huabao (516700) was previously known as the Big Data Industry ETF.
Risk warning: The Big Data ETF Huabao passively tracks the CSI Big Data Industry Index, which has a base date of December 31, 2012, and was launched on October 18, 2016. The index's constituent stocks are adjusted according to its rules, and its past performance does not indicate future results. The stocks mentioned are for illustrative purposes only and do not constitute investment advice or reflect the holdings or trading activities of the fund manager. The fund manager assesses this fund's risk level as R3-medium risk, suitable for balanced (C3) and above investors. Suitability assessments should be confirmed with the sales institution. All information provided is for reference only, and investors are responsible for their own investment decisions. The views and analysis presented do not constitute investment advice, and no liability is accepted for any direct or indirect losses resulting from the use of this content. Fund investments carry risks; past performance does not guarantee future results, and the performance of other funds managed by the manager does not ensure this fund's performance. Invest with caution.
A MACD golden cross signal has formed, indicating positive momentum for these stocks.
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