On Tuesday (January 13), the A-share market adjusted on heavy volume, with turnover exceeding 3.6 trillion yuan, hitting a new high. The AI sector experienced divergent trends, with the ChiNext Artificial Intelligence segment falling significantly after reaching a new high. AI applications, represented by GEO, surged against the market trend, with Yidian Tianxia closing up over 10%, and Zhongwen Online and Wanxing Technology both rising over 5%. Conversely, the computing power sector, centered on optical modules and IDCs, fell into adjustment, with Jinxinnuo and Guangku Technology leading the declines by over 10%, Tianfu Communication dropping over 6%, and Runze Technology falling 3%.
Regarding popular ETFs, the ChiNext Artificial Intelligence ETF (159363), which has a dual-line layout in "AI Applications + Computing Power," opened high but closed low intraday. After touching a new high, it continued to adjust and closed down 3.64%. It recorded a heavy single-day turnover of 1.45 billion yuan. Following an increase in holdings of nearly 400 million yuan the previous day, funds saw a net inflow of over 300 million yuan again, totaling 700 million yuan attracted over two days, ranking first in fund attraction within the ChiNext AI sector!
Looking at the current situation, benefiting from the dual mainline investment logic formed by AI applications and computing power, the layout opportunities in ChiNext Artificial Intelligence still warrant close attention. The commercialization on the application end is accelerating, offering broad prospects; on the computing power side, the focus is shifting towards low-position IDC rotation. Furthermore, the ChiNext Artificial Intelligence ETF (159363) has been officially included in the Stock Connect program, which is expected to further enhance its liquidity, making it an efficient tool for capturing opportunities across the entire AI chain.
In terms of AI applications, the sector continued to perform against the market trend today, remaining one of the core directions with high recognition from funds, and there may be exploration potential within the sector.
CITIC Securities mentioned that downstream AI applications are accelerating into the commercial validation stage. Current industry dynamics are intensive, with overseas companies like xAI and Anthropic completing financing successively, domestic policies for "AI + Manufacturing" being implemented, coupled with significant IPO gains for Zhipu and MiniMax. The upcoming release of DeepSeek-V4 is expected to spark a new wave of AI application enthusiasm. As model capabilities continue to improve, especially with the significant decrease in costs for inference and long-context window applications, the AI application industry is poised for new growth opportunities.
Regarding computing power, besides watching for buying-on-dip opportunities in the previously high-flying but recently corrected optical module CPO sector, recent institutional research reports have frequently mentioned opportunities in the low-position computing power sub-sector of IDC (Data Centers).
Guosheng Securities pointed out that capital expenditure plans from major domestic players like ByteDance have significantly increased, marginal improvements have appeared on the chip supply side, and coupled with the continuous iteration of domestic large models, these factors are driving the restart of data center bidding activities among domestic giants. Sector rotation within the communications industry is once again focusing on IDC. Currently, both the valuation and positioning of the IDC sector are at bottom intervals, presenting an investment window for the sector transitioning from valuation repair to performance delivery.
On January 9, 2026, the Hong Kong Exchanges and Clearing announcement showed that 44 ETFs were added to the Northbound Shenzhen-Hong Kong Stock Connect. The market's first ETF tracking the ChiNext Artificial Intelligence Index—the ChiNext Artificial Intelligence ETF Huabao (159363)—was officially included in the Stock Connect program, effective January 19. This inclusion is expected to introduce "fresh liquidity" from northbound funds, potentially further enhancing its on-market liquidity and trading activity.
Data shows that as of January 12, the ChiNext Artificial Intelligence ETF Huabao (159363) had a latest size of 4.731 billion yuan, with an average daily turnover exceeding 700 million yuan over the past six months. Its size and liquidity rank first among the 8 ETFs tracking the ChiNext Artificial Intelligence Index, making it a potential favorite for northbound funds.
Regarding investment opportunities, as AI development transitions from computing power construction to application implementation, the ChiNext Artificial Intelligence ETF (159363) and its off-exchange联接 shares (Class A: 023407, Class C: 023408), which provide one-click access to "Computing Power + AI Applications," stand to benefit more directly from the growth dividends of the commercial explosion of AI technology. From a sector perspective, the ChiNext Artificial Intelligence allocation consists of approximately 60% in computing power (optical modules + IDC) and about 40% in AI applications, making it not only a core "computing power" play but also a true representative of "AI applications."
Data source: Shanghai and Shenzhen Stock Exchanges, etc. Note: "The market's first" refers to the first ETF tracking the ChiNext Artificial Intelligence Index.
*Reference sources for institutional views: ① CITIC Securities research report dated January 12, "Commercial Aerospace and AI Industry Resonance"; ② Guosheng Securities research report dated January 11, "Marginal Changes in IDC."
ETF fund fee description: When investors subscribe for or redeem fund shares, the subscription/redemption agency may charge a commission not exceeding 0.5%. On-market trading fees are subject to the rates actually charged by the securities company.联接 Fund fee description: The ChiNext Artificial Intelligence ETF联接 Fund Class C does not charge a subscription fee; the redemption fee is 1.5% within 7 days, and 0% for 7 days (inclusive) or more; the sales service fee is 0.3%. The ChiNext Artificial Intelligence ETF联接 Fund Class A subscription fee is 1% for amounts below 1 million yuan, 0.6% for 1 million yuan (inclusive) to 2 million yuan, and 1,000 yuan per transaction for 2 million yuan (inclusive) or more; the redemption fee is 1.5% within 7 days, and 0% for 7 days (inclusive) or more; no sales service fee is charged.
Risk提示: The ChiNext Artificial Intelligence ETF Huabao passively tracks the ChiNext Artificial Intelligence Index. The base date of this index is December 28, 2018, and its release date is July 11, 2024. The annual price changes of the ChiNext Artificial Intelligence Index for 2021-2025 were: 17.57%, -34.52%, 47.83%, 38.44%, 106.35%, respectively. The index constituents are adjusted according to the index compilation rules, and its backtested historical performance does not indicate future index performance. The index constituents mentioned herein are for display only; descriptions of individual stocks are not investment advice in any form, nor do they represent the holding information or trading动向 of any fund under the management company. The risk level of this fund assessed by the fund manager is R4 - Medium-High Risk, suitable for aggressive (C4) and above investors. The appropriateness matching opinion is subject to the sales institution. Any information appearing in this article (including but not limited to individual stocks, comments, 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, and no liability is accepted for any direct or indirect losses arising from the use of the content herein. 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 constitute a guarantee of the fund's performance. Invest in funds with caution.
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