In early trading on the 22nd, the optical module and CPO sectors remained active, with the ChiNext AI ETF, heavily weighted in optical modules, rising over 2%. Among the gainers, Changxin Bochuang surged more than 12%, Zhongji Innolight climbed over 5%, and Eoptolink (300502) advanced over 4%, hitting a new high. Other stocks, including Taicang Optic, Kinghelm, Ruijie Networks, and Lightcomm Technology, also rose over 2%.
Among popular ETFs, the largest and most liquid ChiNext AI ETF (159363) opened higher and continued to gain, with its intraday price rising nearly 3%, approaching its historical peak. Real-time trading volume exceeded 150 million yuan.
Multiple factors on both the supply and demand sides are driving the optical module industry into a phase of "volume and price growth." Guosheng Securities noted that on the demand side, global cloud providers continue to increase capital expenditures, fueling strong demand for computing power. On the supply side, technological advancements are accelerating, with leading manufacturers expanding production to meet growing needs. As global investments in computing power expand and technology evolves, the optical communication industry chain is expected to maintain high growth.
Goldman Sachs released its 2026 global stock market outlook, stating that the current dominance of the tech sector is not solely driven by AI but has been supported by sustained profit growth since the financial crisis, with valuations not yet reaching historical bubble levels. By 2026, AI dividends will further spread, benefiting not only core tech giants but also a broader range of industries and companies—particularly those leveraging AI to enhance margins and productivity.
Looking ahead to 2026, computing power remains one of the most promising sectors in technology. A-share optical module manufacturers, often seen as "shovel sellers" in the AI boom, are likely to continue benefiting. In terms of allocation, the ChiNext AI ETF, heavily weighted in optical modules, has doubled in value this year, significantly outperforming other AI-themed indices like AI Index and CSI AI. Its sustained outperformance makes it a key focus for investors.
To capitalize on computing power opportunities centered on optical modules, investors may consider the first ChiNext AI ETF (159363) and its off-exchange counterparts (Class A: 023407; Class C: 023408). The underlying index focuses on leading optical module players like Eoptolink, Zhongji Innolight, and Taicang Optic, with optical module exposure exceeding 56%. Over 70% of the portfolio is allocated to computing power, while more than 20% targets AI applications, efficiently capturing AI-driven market trends. (Data as of November 30, 2025.)
Among peers, as of December 18, the ChiNext AI ETF (159363) had a scale exceeding 3.7 billion yuan, with average daily turnover over 600 million yuan in the past month—ranking first among seven ETFs tracking the ChiNext AI Index.
Source: SSE, SZSE, etc. Note: "First in the market" refers to the first ETF tracking the ChiNext AI Index.
Risk Disclosure: The ChiNext AI ETF passively tracks the ChiNext AI Index, with a base date of December 28, 2018, and a release date of July 11, 2024. The index's annual returns from 2020 to 2024 were 20.1%, 17.57%, -34.52%, 47.83%, and 38.44%, respectively. Constituent stocks are adjusted per index rules, and past performance does not indicate future results. Stock mentions are for illustrative purposes only and do not constitute investment advice or reflect fund holdings. The fund is rated R4 (medium-high risk) and suitable for aggressive (C4) or higher investors. Investment decisions should be based on individual risk tolerance.
Disclaimer: This content does not provide investment advice, and no liability is assumed for direct or indirect losses resulting from its use. Fund investments carry risks, and past performance does not guarantee future results.
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