This time, the spotlight is shining purple! On Wednesday, July 22nd, leading switch manufacturer Unisplendour Corporation Limited hit its second consecutive daily limit-up, while Inspur Information and Sugon surged over 7%. The Big Data ETF Huabao (516700), which is deeply tied to domestic computing power (IDC, servers) and AI applications, saw its intraday gain reach as high as 3.95% and is currently up 2.99%, aiming for a third consecutive positive daily close. Looking back at its performance over the previous two days, this ETF also closed with gains exceeding 3% each day.
Capital is rapidly flowing into lower-priced tech sectors! The Big Data ETF Huabao (516700) has attracted a cumulative 63.43 million yuan over the past 10 trading days. Over a longer period of 60 trading days, it has amassed a substantial 107 million yuan in net inflows.
Overseas Catalysts
Overseas, NVIDIA has officially launched its next-generation Spectrum-6 Ethernet switch chip, designed to support ultra-large-scale AI infrastructure based on the Vera Rubin platform. NVIDIA stated that the Spectrum-6 switch chip will serve as the core component of the next-generation Spectrum-X Ethernet switch platform, enhancing the overall computational efficiency of AI factories through high bandwidth, intelligent traffic management, and fault recovery capabilities. AI infrastructure builders, including CoreWeave, Microsoft, Nebius, SpaceX AI, and Tesla, will be among the first to adopt Spectrum-6 to accelerate their AI factory construction.
Domestic Momentum
Domestically, during the 2026 World Artificial Intelligence Conference (WAIC), domestic intelligent computing clusters of ten-thousand-card and hundred-thousand-card scales were unveiled in quick succession, competition in the Token track expanded, and the computing power sector rallied strongly. Moore Threads disclosed the latest progress of its three major "AI factories" focused on model training, Token production, and agent production, and for the first time publicly shared multiple sets of training and inference practice data, further strengthening its layout in large-scale AI infrastructure. Meanwhile, Sugon released the fully domestic 100,000-card AI supercluster "Sugon 8000 (Summit)", featuring a super-intelligent fusion architecture design that supports full-precision computing from FP64 to INT8, achieving native integration of all types of computing.
Policy Support
On the policy front, Beijing plans to lay out and construct Token factories in the second half of the year, aiming to add 50,000 P of intelligent computing power. Huayuan Securities pointed out that the iteration of large AI models and the large-scale construction of intelligent computing centers continue to drive up domestic demand for AI computing power. They maintain a positive outlook on the high prosperity of the domestic computing power sector. It is suggested to focus on domestic chips, CPUs, ODM manufacturers, and IDC providers.
Key Stock Performance
Regarding key stocks, Unisplendour Corporation Limited previously disclosed its 2026 interim results forecast, expecting net profit attributable to shareholders to be between 1.91 billion yuan and 2.32 billion yuan, representing a year-on-year increase of 83.50% to 122.89%. The company attributed the expected profit surge to the strong demand for AI computing power, stating it actively seized market opportunities in intelligent computing and localization, with the ICT (Information and Communication Technology) market maintaining rapid growth in the first half of 2026.
CITIC Securities noted that the computing power network has been included in the national "Six Networks" major projects, representing a core infrastructure direction for the "15th Five-Year Plan" period. With trillions in investment gradually materializing, computing power infrastructure has formally become a foundational and strategic facility in the era of the digital economy, promising sustained policy dividends in the long term. Against the backdrop of restricted supply of high-end chips from overseas, the pace of constructing self-controlled intelligent computing centers and computing power hubs is accelerating, benefiting the entire industry chain.
Focus on Data Security and Technological Self-Reliance
The Big Data ETF Huabao (516700) passively tracks the CSI Data Index, which is deeply tied to domestic computing power (IDC, servers) and AI applications. It covers the entire data technology process, involving areas such as big data storage, production, analysis, operation platforms, and application, better reflecting the overall development of China's big data industry. The CSI Data Index encompasses several hot concepts. As of the end of June, the weight of components related to cloud computing, IDC (computing power leasing), computing power, and AI application concepts accounted for 89.59%, 46.79%, 47.80%, and 23.71%, respectively.
Note: The Big Data ETF Huabao (516700) was previously known on the exchange as the Big Data Industry ETF.
ETF fee information: The Big Data ETF Huabao does not charge a service fee. Subscription and redemption agents may charge a commission of up to 0.5%, inclusive of relevant fees charged by stock exchanges and registration institutions. On-exchange trading fees are subject to the actual charges by securities firms.
Risk Disclosure: The Big Data ETF Huabao passively tracks the CSI Big Data Industry Index. The base date for this index is December 31, 2012, and it was launched on October 18, 2016. The index's performance over the past five full calendar years is as follows: 2021, -3.5%; 2022, -25.68%; 2023, 1.4%; 2024, 10.57%; 2025, -1.26%. The index's volatility over the past five full calendar years is: 2021, 22.87%; 2022, 30.63%; 2023, 33.28%; 2024, 42.09%; 2025, 33.44%. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its historical backtested performance does not indicate future index performance. The index constituent stocks mentioned in this article are for illustrative purposes only. Descriptions of individual stocks do not constitute investment advice in any form, nor do they represent the holdings information or trading trends of any fund managed by the fund manager. The fund manager assesses the risk level of this fund as R3 - Medium Risk, suitable for Balanced (C3) and above investors. The appropriateness matching opinion is subject to the sales institution. Any information appearing in this article (including but not limited to stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only. Investors are responsible for any independent investment decisions they make. Furthermore, any views, analysis, or forecasts in this article do not constitute investment advice of any kind to readers, and no responsibility 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 does not indicate its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment requires caution.
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