On April 21, the market experienced volatile adjustments during the morning session, with the ChiNext Index and the Shenzhen Component Index both falling over 1% intraday. Affected by this, the Huaan ChiNext 50 ETF (159949) declined 0.85% in the morning, trading at 1.746 yuan, with a turnover rate of 2.52% and a half-day trading volume of 556 million yuan, ranking first among similar ETFs.
The latest report shows mixed performance among the top ten holdings of the Huaan ChiNext 50 ETF (159949) in the morning. By midday, Contemporary Amperex Technology Co., Limited rose 1.94%, while Zhongji Innolight fell 1.17%, Eoptolink Technology dropped 2.69%, East Money Information declined 0.90%, Sungrow Power Supply decreased 0.10%, Shengyi Technology fell 4.08%, Inovance Technology dropped 2.00%, Mindray Medical International edged up 0.04%, TFC Optical Communication plunged 6.75%, and Eve Energy Co., Ltd. gained 2.47%.
On the news front, China's Ministry of Industry and Information Technology is promoting computing-power coordination, and a major shareholder of Contemporary Amperex Technology Co., Limited plans to transfer shares. At a press conference on April 21 detailing industrial and informatization developments for the first quarter of 2026, Vice Minister Zhang Yunming stated that computing infrastructure has become a key foundation driving artificial intelligence development. The ministry is currently conducting policy research and standard formulation for computing-power coordination. In response to recent memory price increases affecting adjustments in mobile terminal product prices, the ministry will take multiple measures to support the memory industry's development and ensure stability in the industrial and supply chains. These include enhancing supply capacity, promoting supply-demand matching, encouraging domestic and foreign enterprises to increase investment and output, supporting interaction between terminal companies and memory manufacturers, and diversifying supply channels. Additionally, various means will be used to maintain market order, guide memory companies in channel management, and cooperate with relevant departments to combat market disruptions.
Furthermore, the fourth-largest shareholder of Contemporary Amperex Technology Co., Limited plans to transfer 58 million shares, with a preliminary transfer price set at 410.34 yuan per share, totaling approximately 23.8 billion yuan. Relevant parties indicated that this transfer aims to guide shareholders to standardize and rationally transfer pre-IPO shares, attract long-term capital into the market, reduce impact on the secondary market, and foster a value investment atmosphere.
Institutional views suggest that the ChiNext Index remains the most cost-effective direction in the A-share market, with short-term focus on technology leaders exceeding earnings expectations. China Securities Co., Ltd. believes that considering the upward potential of weighted stocks in computing power and new energy within the ChiNext Index, along with its low valuation, the index currently offers the best value in A-shares. For industrial layout, it is recommended to explore sectors with strong first-quarter performance, including new energy, energy storage, lithium battery materials, AI computing power, innovative pharmaceuticals, semiconductors, and consumer sectors.
Shenwan Hongyuan Securities stated that mid-term scenarios for overseas geopolitical conflicts are gradually converging, fully validating the judgment that the worst is passing. The firm reiterates its mid-term market outlook: a return to a "two-stage rally," with A-shares still in a consolidation phase after the first stage. The current "market bottom" also represents a "style bottom" for small-cap growth stocks. High-growth tech sectors with new景气 validation are leading, while small-cap growth and strategic resources are experiencing a "slow start." In the short term, gains for tech leaders exceeding earnings expectations should match the extent of valuation digestion through earnings. This implies room for short-term cost-effectiveness while maintaining mid-term value. The outperformance of the ChiNext market may still have some persistence. Structural recommendations remain unchanged, with tech sectors strong before overseas conflicts showing strong short-term upward momentum, particularly focusing on optical communication, gas turbines, and energy storage. In the next phase,景气 validation may increase for new energy, new energy vehicles, and export chains. Investing in these sectors for growth may yield significantly better results than hedging strategies.
The Huaan ChiNext 50 ETF (159949) provides a convenient tool for investors long-term bullish on China's tech growth sector. The product has delivered a three-year return of 75.36%, outperforming its benchmark and ranking 63rd among 1,699 similar products. Investors can trade this ETF directly via stock accounts or participate through feeder funds (Class A: 160422; Class C: 160424; Class I: 022654; Class Y: 022976). For operations, systematic investment or phased allocation is recommended to smooth short-term volatility, closely monitoring component stock earnings realization and relevant policy developments.
Investment risks should be noted, as fund investments carry risks requiring caution. The ChiNext 50 ETF is a higher-risk product with higher expected returns, closely linked to ChiNext market performance. Investors should carefully review legal documents, assess risk tolerance, and make prudent investment decisions.
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