Possibly due to significant favorable policies, the computing power leasing sector experienced a strong surge today (June 30th). The Big Data ETF (516700), which is deeply tied to domestic computing power (IDC, servers) and AI applications, saw its on-exchange price surge by up to 4.93%, currently up 4.37%, and has reclaimed its 5-day, 10-day, and 20-day moving averages during the session.
Capital had already begun positioning in advance! Data from the Shanghai Stock Exchange shows that the Big Data ETF (516700) saw net capital inflows on 4 out of the last 5 trading days, accumulating a total of 14.37 million yuan. Extending the view, it has attracted a total of 40.35 million yuan over the past 60 trading days.
Regarding constituent stocks, Unisplendour Corporation Limited (ASX: 000938) hit the daily limit-up, Hongjing Technology surged over 11%, Topsec, Dawning Information Industry Co.,Ltd. (ASX: 603019) rose over 8%, with UCloud, Sangfor, Inspur Information, and East China Information following the upward trend.
On the news front, on June 29th, the State Council executive meeting explicitly called for "intensifying efforts to promote breakthroughs in AI innovation, accelerating key technology R&D and the construction of ultra-large-scale intelligent computing clusters, and strengthening the supply of high-quality data." Combined with the previous inclusion of the national integrated computing power network in the "15th Five-Year Plan" as one of the 109 major projects, the construction of the "Six Networks" is accelerating from conceptual design to the implementation stage. With high-frequency and high-level policy focus, computing power is being positioned as a new type of universally accessible infrastructure, akin to water and electricity.
Focusing on key stocks, on the evening of June 29th, Dawning Information Industry Co.,Ltd. announced that it had received the "Approval for Registration of Convertible Corporate Bond Issuance to Non-Specific Objects" from the China Securities Regulatory Commission, agreeing to the company's application to issue convertible bonds to non-specific objects. According to the announcement, the proposed issuance aims to raise no more than 8 billion yuan, which will be entirely directed towards AI computing power infrastructure.
It is worth noting that, according to a response to an inquiry dated May 7, 2026, Dawning Information Industry Co.,Ltd., as a "national team in computing power," is deeply involved in the "Eastern Data, Western Computing" project, having built and operated supercomputing/intelligent computing centers in over 30 cities, cumulatively deploying over 500,000 heterogeneous accelerator cards, with intelligent computing power exceeding 30 EFLOPS.
China Securities pointed out that the computing power network has been included in the national "Six Networks" major projects, a core infrastructure direction for the "15th Five-Year Plan." Trillion-level investments are gradually being implemented, officially establishing computing power infrastructure as foundational and strategic for the digital economy era, with long-term sustained policy dividends. Against the backdrop of restricted overseas supply of high-end chips, the pace of building self-reliant and controllable intelligent computing centers and computing power hubs continues to accelerate, benefiting the entire industry chain.
Regarding valuations, as of June 29th, the price-to-earnings ratio (PE TTM) of the underlying index (CSI Data Index) of the Big Data ETF (516700) was 104.81 times, lower than the median of 109.21 times, sitting at the 46.1 percentile over the past three years, indicating relatively high valuation attractiveness and safety margins.
Data Security is Paramount, Technological Self-Reliance is Crucial
The Big Data ETF (516700), which is deeply tied to domestic computing power (IDC, servers) and AI applications, passively tracks the CSI Big Data Industry Index. It covers the entire data technology process, involving areas such as big data storage, production, analysis, operation platforms, and applications, better reflecting the overall development of China's big data industry. Its top holdings include leading stocks like Dawning Information Industry Co.,Ltd., iFlytek, Unisplendour Corporation Limited, Inspur Information, China Great Wall, and China National Software.
The underlying index of the Big Data ETF (516700) encompasses popular themes. As of the end of May, the weightings of constituent stocks with cloud computing, IDC (computing power leasing), computing power, and AI application concepts were 88.41%, 44.80%, 43.97%, and 27.84%, respectively.
Note: The previous on-exchange abbreviation for the Big Data ETF (516700) was Big Data Industry ETF.
Risk Disclosure: The Big Data ETF (516700) passively tracks the CSI Big Data Industry Index. The base date for this index is December 31, 2012, and it was published on October 18, 2016. The composition of the index constituents is adjusted according to its compilation rules, and its back-tested historical performance does not indicate its future 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 or trading动向 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. Suitability matching opinions should be based on the sales institution. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only. Investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts in this article do not constitute investment advice of any kind to readers, nor do they bear any responsibility for direct or indirect losses arising from the use of this content. Fund investment carries risks. The past performance of a fund does not represent 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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