Optical module and CPO stocks staged a rebound in early trading on August 7, with Guangkuo Technology and Eoptolink Technology surging over 5%, while Accelink Technologies and Zhongji Innolight gained more than 4%. The ChiNext AI ETF Huabao (159363), which heavily weights optical module leaders, traded more than 2% higher, marking a fifth consecutive day of gains, with real-time turnover exceeding 900 million yuan, leading the market among AI-themed ETFs of the same category.
According to disclosures from the Hong Kong Stock Exchange, on August 3, 2026, Goldman Sachs increased its long position in Zhongji Innolight's H-shares from 11.65% to 12.19%, while JPMorgan Chase raised its stake from 5.6% to 13.72% on July 31. Both major foreign institutions significantly increased their holdings in the optical module leader simultaneously.
On the fundamental front, capital expenditures by the four major North American cloud providers in the second quarter of 2026 continued to grow at a rapid pace. Google and Amazon further revised up their full-year 2026 guidance, with Amazon AWS's revenue, operating margin, and backlog all exceeding expectations. Amazon stated that a virtuous cycle of AI investment and returns is beginning to take shape, significantly alleviating market concerns about the sustainability of massive AI capital expenditure outlays.
CITIC Securities believes that against the backdrop of cloud vendors' earnings continuously validating AI's role in driving business growth, the scale of AI clusters will expand further. As a key component of cluster networks, optical interconnects will experience sustained high growth driven by three factors: increased GPU allocation ratios, port speed upgrades, and the shift from copper to optical fiber. The firm is bullish on the medium- to long-term prosperity of the optical communication sector.
Beyond optical modules, the AI trading theme should also focus on AI applications. Referring to the US SaaS benchmark, Palantir's quarterly results exceeded expectations and surged, as the market is giving a significant premium to companies with tangible AI application capabilities. The ChiNext AI index brings together a large number of "software + hardware" combination targets (such as industry vertical applications), which benefit more from a dual logic of application-layer performance delivery and valuation system restructuring compared to pure hardware communications.
The ChiNext AI ETF Huabao (159363) and its OTC feeder funds (Class A 023407, Class C 023408) focus on optical module and CPO leaders while also covering AI applications. The underlying index's combined weight of Zhongji Innolight, Eoptolink Technology, and Accelink Technologies is approximately 40%, making it a core flagbearer of AI computing power. As of the latest data, the ChiNext AI ETF Huabao (159363) has a total scale exceeding 7.4 billion yuan, with an average daily turnover of over 1 billion yuan in the past six months, leading other ETFs tracking the same index in scale and liquidity.
Data source: Shanghai and Shenzhen stock exchanges, etc. Fund-related fee descriptions: When investors subscribe for or redeem fund shares, the subscription and redemption agency may charge a commission of up to 0.5%. On-exchange trading fees are subject to the actual charges of the securities company. No sales service fee is charged for on-exchange trading. Feeder fund fee descriptions: The ChiNext AI ETF Feeder Fund Class C does not charge a subscription fee; the redemption fee is 1.5% for holdings within 7 days and 0% for holdings of 7 days or more; the sales service fee is 0.3%. The ChiNext AI ETF Feeder Fund Class A has a subscription fee of 1% for amounts under 1 million yuan, 0.6% for amounts between 1 million and 2 million yuan, and 1,000 yuan per transaction for amounts of 2 million yuan or more; the redemption fee is 1.5% for holdings within 7 days and 0% for holdings of 7 days or more; no sales service fee is charged. Risk disclaimer: The ChiNext AI ETF Huabao passively tracks the ChiNext Artificial Intelligence Index, whose base date is December 28, 2018, and publication date is July 11, 2024. The index's annual returns for 2021-2025 are: 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively. The annualized volatility of the index over the same period was 23.73%, 27.34%, 38.02%, 45.42%, and 41.1%. The composition of the index's constituent stocks is adjusted periodically according to the index compilation rules. The back-tested historical performance of the index does not indicate its future performance. The constituent stocks mentioned in this article are for demonstration purposes only. Descriptions of individual stocks do not constitute investment advice of any form and do not represent the holdings or trading activities of any fund managed by the fund manager. According to the fund manager's assessment, the risk level of the ChiNext AI ETF Huabao is R4 (medium-high risk), suitable for aggressive (C4) and above investors. The suitability matching opinion shall be subject to the sales institution. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of representation) is for reference only. Investors must be responsible for their own independent investment decisions. Furthermore, any opinions, analyses, or forecasts in this article do not constitute investment advice of any form to readers and shall not be held liable for any direct or indirect losses arising from the use of this article. Fund investment involves risk. The past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Fund investment should be undertaken with caution.
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