On the afternoon of December 17, the Electronic ETF (515260), which aggregates core leaders in the electronics sector, surged strongly, with an intraday gain peaking at 2.71%. It is currently up 2.39%, reclaiming the 5-day, 10-day, and 20-day moving averages, signaling a bullish technical rebound.
Breaking it down by segment: - **Semiconductors**: Jinghe Integration rose over 8%, while Maxscend surged more than 7%. - **Printed Circuit Boards (PCB)**: Shennan Circuits climbed over 6%, with Avary Holding, Wus Printed Circuit, Dongshan Precision, and Shengyi Technology all gaining over 4%. - **Consumer Electronics**: Lingyi Intelligent Manufacturing, a leading player, advanced more than 4%.
Key highlights for the Electronic ETF (515260) index holdings focus on **PCB** and **memory chips**: 1. **PCB**: AI servers are driving clear value growth. For example, NVIDIA’s DGX H100 GPU-related PCB value reaches $211 per unit, up 21% from the previous generation. As PCBs evolve toward higher layers and performance, China’s high-end PCB capacity is set for a major expansion by 2026, with domestic material suppliers accelerating substitution and breakthroughs. 2. **Memory Chips**: Since Q3 this year, the global memory chip market has witnessed an "epic" price surge. Data from third-party research shows spot prices for DRAM and NAND Flash have risen over 300% since September. Industry experts note this rally differs from past cycles, driven by AI’s shift toward "storage over computation" in applications, with supply shortages likely to persist for the next 1–2 years.
Huaan Securities highlights that global AI’s transition from training to inference is upgrading hardware supply chains. Cloud service providers and sovereign AI initiatives are fueling high demand for AI infrastructure, boosting innovation in servers, storage, and optical interconnects. Meanwhile, AI phones and AR glasses are accelerating intelligent evolution, reshaping the industry landscape. Focus remains on sectors benefiting from inference computing growth and hardware upgrades.
For exposure, the Electronic ETF (515260) and its linked funds (Class A: 012550 / Class C: 012551) track the Electronic 50 Index, heavily weighted in semiconductors and consumer electronics, covering AI chips, automotive electronics, 5G, cloud computing, and PCB. External pressures are accelerating China’s semiconductor self-sufficiency, while AI redefines consumer electronics functionality and user experience. Supported by national policies, the electronics sector is poised for a resurgence.
**Risk Disclosure**: The Electronic ETF tracks the CSI Electronic 50 Index (base date: 2008.12.31; launch date: 2009.7.22). Index constituents adjust per rules; past performance does not indicate future results. Mentioned stocks are for illustrative purposes only and do not constitute investment advice or reflect fund holdings. The fund manager rates the ETF as R3 (moderate risk), suitable for balanced (C3) or higher-risk investors. Investment decisions carry risks; historical performance is no guarantee of future returns.
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