Hard tech stocks showed signs of a rebound on August 4, as the A-share and Hong Kong tech sectors warmed up. 天数智芯 surged over 9%, 广合科技 climbed more than 7%, 建滔积层板 and 壁仞科技 advanced over 6%, while Hua Hong Grace and ASMPT both rose more than 3%. The largest of its kind and most liquid among similar funds, the Huabao Hong Kong Stock Connect IT ETF (159131) saw its intraday price gain 1.32%, with a real-time turnover nearing 700 million yuan.
According to an analysis note from Soochow Securities, the current pullback in tech stock trends has largely completed its adjustment phase. However, the congestion level in tech stocks remains relatively high, and market volatility has not yet subsided, suggesting that time may still be needed for digestion. The research indicates that the retracement of the tech trend will not lead to the end of the rally; the realization of industrial fundamentals remains the core variable. Particularly for sectors that have been mistakenly sold off, such as the "Ning Combination" in 2021, a strong oversold recovery rally could emerge as the upward cycle materializes.
Hong Kong's scarce "pure-blooded" hard tech! Supporting T+0 trading. The first of its kind in the market, the largest and most liquid Huabao Hong Kong Stock Connect IT ETF (159131), with an over-the-counter feeder fund code of 026755, tracks the Hong Kong Stock Connect Information Technology Index. This index is composed of 85% hardware and 15% software, heavily weighted toward Hong Kong-listed semiconductors, electronics, and computer software stocks. It includes 60 hard tech companies, with the two major wafer foundry giants, SMIC and Hua Hong Grace, accounting for a combined weight of over 26%. The domestic AI PC leader, Lenovo Group, holds a weight exceeding 10%, while the PCB leaders Kingboard Holdings and Kingboard Laminates together account for over 11%—all of which are the highest among ETFs tracking comparable indices. Additionally, on June 15, the index added several new Hong Kong hard tech names, including 智谱, 胜宏科技, 天数智芯, and 壁仞科技. The index excludes large-cap internet companies like Alibaba, Tencent, and Meituan, offering higher precision and making it easier to capture Hong Kong's AI hard tech trends.
Data source: CSI Index, as of June 30, 2026. Image generated by AI. Recent market fluctuations may be significant, and short-term gains or losses do not predict future performance. Fund investments may incur losses. Investors must make rational decisions based on their own capital situation and risk tolerance, paying close attention to position and risk management. The stocks mentioned in the materials are for illustration only and do not constitute any form of investment advice, nor do they represent the holdings or trading activities of any fund under the management. Data sources: CSI Index Company, Shanghai and Shenzhen Stock Exchanges. Reference for institutional views: Soochow Securities, August 2026, "Time and Space Analysis of the Rebound." Note: "The first of its kind" refers to the Huabao Hong Kong Stock Connect IT ETF being the first ETF in the market to track the CSI Hong Kong Stock Connect Information Technology Composite Index. As of July 21, 2026, the latest on-market size of the Huabao Hong Kong Stock Connect IT ETF was 2.062 billion yuan, making it the largest among the eight ETFs tracking the same index. The ETF's average daily turnover this year has been 938 million yuan, the highest among the eight comparable ETFs. The annual historical returns for the underlying CSI Hong Kong Stock Connect Information Technology Composite Index (HKD) from 2021 to 2025 are: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30%, respectively. The annual volatilities for the same period are: 4.13%, 4.63%, 4.00%, 5.49%, and 5.45%. Past performance of the index does not guarantee future results. Explanation of fund fees: When investors subscribe for or redeem fund shares, the subscription and redemption agent may charge a commission of up to 0.5% of the transaction amount. On-exchange trading fees are determined by the securities company and no sales service fee is charged. The subscription fee for the Huabao CSI Hong Kong Stock Connect IT ETF Feeder Fund is 0.30% for amounts under 1 million yuan, 0.20% for amounts between 1 million (inclusive) and 2 million yuan, and 1,000 yuan per transaction for amounts of 2 million yuan (inclusive) or more. Redemption fees for individual investors are 1.50% for holding periods of 7 days or less, and 0.00% for periods of 7 days (inclusive) or more. Redemption fees for institutional investors are 1.50% for holding periods of 7 days or less, 1.00% for periods between 7 days (inclusive) and 30 days, 0.50% for periods between 30 days (inclusive) and 180 days, and 0.00% for periods of 180 days (inclusive) or more. No sales service fee is charged. Risk disclosure: The ChiNext AI ETF Huabao passively tracks the ChiNext AI Index, with a base date of December 28, 2018, and a release date of July 11, 2024. The Huabao Hong Kong Stock Connect IT ETF passively tracks the CSI Hong Kong Stock Connect IT Composite Index, with a base date of November 14, 2014, and a release date of June 23, 2017. The index's constituent stocks are adjusted according to the index compilation rules. Historical back-tested performance does not guarantee future index performance. The index constituent stocks mentioned in the text are for illustration only and do not constitute any form of investment advice, nor do they represent the holdings or trading activities of any fund under the management. According to the fund manager's assessment, the ChiNext AI ETF Huabao and the Huabao Hong Kong Stock Connect IT ETF are rated as R4 (medium-high risk) and are suitable for investors with a proactive (C4) risk profile or above. The suitability matching opinion is subject to the sales institution's determination. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, or any form of expression) is for reference only. Investors must be responsible for their own investment decisions. Furthermore, any views, analyses, or forecasts in this article do not constitute investment advice to readers, and the authors assume no responsibility for any direct or indirect losses arising from the use of this article's content. Fund investments carry risks. The past performance of a fund does not represent its future performance, and the performance of other funds managed by the same fund manager does not guarantee the performance of this fund. Please invest in funds with caution. A MACD golden cross signal has formed, and these stocks are rising nicely!
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