Strong first-quarter results from Zhongji Innolight have propelled the optical module leader and its peer Xinyisheng to record highs. Combined with a robust 10-day consecutive rise by domestic AI chip maker Cambricon, the hard tech-focused broad-based ETF—Huabao Fund's STAR-ChiNext 50 ETF (588330)—climbed as much as 2.21% during the session. It is currently up 1.92%, continuing to set new highs since its listing.
On the news front, the evening of April 16 saw a wave of positive developments for tech stocks, with first-quarter earnings collectively surging. Among them, high-flying computing power concept stock Zhongji Innolight reported a net profit of 5.735 billion yuan for the first quarter, a remarkable year-on-year increase of 262.28% and a sequential rise of 56.45%. The company attributed this explosive growth to strong demand for AI computing infrastructure. Meanwhile, TSMC posted a first-quarter net profit of approximately 123 billion yuan, exceeding expectations across the board.
Notably, as of April 15, 27 constituent stocks of Huabao's STAR-ChiNext 50 ETF (588330) have released their 2025 annual reports. Among these, 26 listed companies achieved profitability, with 20 reporting double-digit year-on-year growth in net profit attributable to parent company shareholders. Cambricon, Xian Dao Intelligent, Shenghong Technology, Runze Technology, and Zhongji Innolight all saw triple-digit increases in net profit attributable to parent company shareholders.
BOC International Securities believes that the true market driver lies not in the Middle East but in technology. At present, the technology sector continues to reach new highs, driven by the convergence of industrial trends, earnings expectations, and capital pricing. For A-shares, the key variables determining medium-term direction may not be short-term geopolitical disturbances, but rather whether technology industry trends continue to strengthen, whether industrial mapping continues to expand, and whether market risk appetite remains willing to pay a premium for "certain growth in prosperity." In a sense, the persistent new highs in technology stocks provide the answer themselves.
[Unfazed by Sector Rotation, One-Click Access to China's Core Technology] The hard tech broad-based ETF—Huabao's STAR-ChiNext 50 ETF (588330) and its off-exchange feeder funds (Class A: 013317 / Class C: 013318)—selects 50 large-cap listed companies in strategic emerging industries from the STAR Market and ChiNext Board as its index components, covering popular themes such as optical modules, semiconductors, and photovoltaic equipment. Additionally, this ETF is eligible for [margin trading] and [Stock Connect], making it an efficient tool for one-click allocation to new quality productive forces.
It is worth noting that from the beginning of 2025 to the end of March 2026, Huabao's STAR-ChiNext 50 ETF (588330) has accumulated a gain of 54.54%, outperforming major broad-based indices such as the ChiNext Index (48.72%), the STAR Composite Index (44.68%), and the STAR 50 Index (27.04%).
Note: Huabao's STAR-ChiNext 50 ETF (588330) was previously known as the STAR-ChiNext Leaders ETF.
Risk Warning: Huabao's STAR-ChiNext 50 ETF passively tracks the CSI STAR-ChiNext 50 Index, which has a base date of December 31, 2019, and was launched on June 1, 2021. The index's annual performance from 2021 to 2025 was: 0.37%, -28.32%, -18.83%, 13.63%, and 60.86%. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its historical performance does not indicate future results. The index constituents mentioned are for illustrative purposes only; descriptions of individual stocks are not intended as investment advice of any form and do not represent the holdings or trading动向 of any fund managed by the fund manager. The fund manager assesses the risk level of the STAR-ChiNext Leaders ETF as R4—medium to high risk, suitable for aggressive (C4) and above investors. Suitability matching opinions should be based on the sales institution. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors are responsible for any independent investment decisions. Furthermore, any views, analyses, or forecasts in this article do not constitute investment advice of any kind to readers, and no liability is accepted for any direct or indirect losses arising from the use of this content. Fund investment carries risks; past performance of a fund does not indicate its future results, and the performance of other funds managed by the fund manager does not guarantee the performance of this fund. Invest with caution.
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