On April 20, major A-share indices rose collectively, with the Shanghai Composite Index approaching 4,100 points. Semiconductor leaders performed actively, with Espressif Systems leading gains at nearly 12%, VeriSilicon Microelectronics rising over 4%, and Cambricon Technologies climbing more than 3%. The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence Trading Open Ended Index Securities Investment Fund (589520), which focuses on the domestic AI industry chain, surged 2.72%, reclaiming its 60-day moving average. Over the past 10 trading sessions, the ETF has risen in eight, potentially signaling a right-side recovery from lower levels.
On the policy front, seven departments including the Shanghai Municipal Commission of Economy and Informatization jointly released the "Shanghai Action Plan for Promoting Industrial Internet Platforms to Empower Industrial Development (2026-2028)". The plan proposes 19 new measures across five areas: strengthening platform-driven industrial empowerment, enhancing platform digital and intelligent capabilities, building an international service system for platforms, and creating a high-quality development ecosystem. It mentions support for enterprises engaged in AI research and application, in accordance with Shanghai's "computing power vouchers" and "model vouchers" regulations.
At the industry level, Alibaba ATH announced that HappyHorse-1.0 will gradually open API testing via Alibaba Cloud's Bailian platform starting April 27, with commercial release expected in May. Industry insiders note that the launch of HappyHorse marks a new phase for China's AI industry chain—transitioning from "point-by-point catch-up" to "systematic breakthrough". As top-tier video models no longer rely on overseas closed-source solutions and Alibaba Cloud's Bailian platform forms a complete closed loop from chips to models to applications, the autonomy and controllability of the domestic AI industry chain is becoming a quantifiable industrial reality.
Soochow Securities believes that from a 2026 industry allocation perspective, greater emphasis should be placed on "self-reliance", consolidating national security through technological self-strength and enhancing endogenous growth resilience through comprehensive reforms. "Focusing on our own priorities" is paramount for development. Breaking through industrial blockades and technological sanctions means gaining initiative in the AI revolution through technological breakthroughs and innovation, thereby improving industrial chain security and achieving autonomy in core segments.
Sinolink Securities points out that domestic chip manufacturers such as Cambricon and Hygon are accelerating their catch-up with NVIDIA in single-card performance. The performance and ecosystem development of domestic chips are rapidly advancing from "usable" to "user-friendly". Domestic computing power and computing power leasing providers have reached a performance inflection point, and the computing power industry chain is expected to see both volume and price increases.
The Huabao Shanghai Science and Technology Innovation Board Artificial Intelligence Trading Open Ended Index Securities Investment Fund (589520) and its feeder funds focus on the domestic AI industry chain. Its components include leading domestic GPU companies, leading domestic ASIC firms, and top AI application players. The semiconductor sector accounts for nearly half of its weight, giving it strong offensive potential; the software sector, with over 30% weighting, stands to benefit from catch-up rallies in AI applications. Additionally, the ETF is a margin trading标的, making it an efficient tool for gaining exposure to domestic computing power.
The MACD golden cross signal has formed, indicating positive momentum for these stocks.
Comments