On Tuesday (August 11), the ChiNext AI sector saw a rebound and recovery, with optical module leaders and IDC computing power leasing stocks showing active performance. Among them, Beijing Chutian Best Telecom Cable Co., Ltd. led the gains with over 6%, Ruijie Networks Co., Ltd. rose more than 5%, Zhongji Innolight Co., Ltd. climbed nearly 4%, and Eoptolink Technology Inc., Ltd. gained 2.59%. Several other stocks, including Linktel Technologies Co., Ltd., Hand Enterprise Solutions Co., Ltd., Changxin Bote, and Longsys Electronics Co., Ltd., each added over 1%.
In the ETF space, the heavily weighted ChiNext AI ETF Huabao (159363), which focuses on optical module leaders, closed up 0.74% in reverse market conditions, with a full-day trading volume of 1.2 billion yuan, maintaining its leading position in liquidity among AI-themed ETFs nationwide.
Dual Catalysts from Domestic and International Computing Power Demand
Based on comprehensive market information, the ChiNext AI sector is currently being driven by a dual resonance of favorable computing power developments from both overseas and domestic sources. Internationally, Anthropic signed a $9.1 billion computing power contract, boosting the leasing segment, while Nvidia collaborated with six major Wall Street institutions to establish a financing platform targeting over $500 billion in capital for AI infrastructure. Domestically, Alibaba Cloud plans to more than double its modular data center production capacity, while reducing AIDC delivery timelines to 100 days and cutting construction costs by over 10%.
Guohai Securities pointed out that overseas CSPs and Neocloud vendors are gradually verifying that large-scale computing power capital expenditures can effectively translate into revenue and profits. Driven by Agent applications, inference demand has long-term sustainable growth potential. Additionally, the sharp rise in channel prices for high-end domestic computing power servers directly reflects the current supply shortage. The brokerage expects China's AI computing power supply-demand gap to widen, making the computing power leasing sector's medium-to-long-term growth logic more certain, and it has entered a dividend period of earnings release.
Fund Manager Outlook: Main Line May Return to AI with Stabilization
Caoxu Chen, fund manager of the ChiNext AI ETF Huabao (159363), noted in his latest views that if related disruptive factors gradually clarify and overseas tech leaders stabilize, the market could return to the AI main line, with a potential style shift toward large-cap stocks. Conversely, if uncertainty persists, the valuation logic of the tech sector may be impacted by external factors, suppressing global market sentiment. Medium-to-long term, AI computing power demand remains supported, but the sustainability of the rally hinges on the coordination between industry chain recovery and leader stock performance.
On the AI trading main line, in addition to computing power bottleneck sectors like optical modules, investors should also focus on AI applications. Drawing from the U.S. SaaS benchmark, Palantir's quarterly results exceeded expectations, with the market granting a high premium for AI application deployment capabilities. The ChiNext AI sector, which gathers many stocks combining software and hardware (such as industry vertical applications), benefits more from a dual logic of performance realization at the application layer and valuation system reshaping compared to pure hardware communication.
Fund Details and Risk Disclosures
The ChiNext AI ETF Huabao (159363) and its off-exchange linked funds (Class A: 023407, Class C: 023408) focus on optical module CPO leaders while also covering AI applications. The underlying index has a combined weight of about 40% for Zhongji Innolight, Eoptolink Technology, and Tianfu Communication, positioning them as core standard-bearers of AI computing power. The fund (159363) has a latest scale exceeding 7 billion yuan, with an average daily trading volume of over 1 billion yuan in the past six months, leading the eight ETFs tracking the same index in both scale and liquidity.
Data sources: Shanghai and Shenzhen stock exchanges, etc. Reference source for institutional views: Guohai Securities, "Computer Industry Dynamic Research: Cloud Prosperity Leads AI Narrative, Seize Domestic Computing Power Growth Opportunities."
ETF fee notes: Investors may be charged a commission of up to 0.5% per standard by the subscription and redemption agent when subscribing or redeeming fund shares. On-exchange trading fees are subject to actual charges by securities companies, with no sales service fee. Linked fund fee notes: The ChiNext AI ETF linked fund Class C (023408) charges no subscription fee; redemption fees are 1.5% for holding periods of less than 7 days, 0% for 7 days or more; sales service fee is 0.3%. Class A (023407) subscription fees are 1% for amounts under 1 million yuan, 0.6% for 1 million to 2 million yuan, and 1,000 yuan per transaction for amounts of 2 million yuan or more; redemption fees are 1.5% for less than 7 days, 0% for 7 days or more; no sales service fee is charged.
Risk warning: 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 index's annual returns from 2021 to 2025 were: 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%, respectively. The annualized volatility over the same period was 23.73%, 27.34%, 38.02%, 45.42%, and 41.1%. The index's constituent stocks are adjusted according to the index compilation rules, and the back-tested historical performance does not indicate future index performance. The constituent stocks mentioned in the article are for illustration only, and individual stock descriptions do not constitute any form of investment advice, nor do they represent the holdings or trading movements of any fund managed by the fund manager. According to the fund manager's assessment, the ChiNext AI ETF Huabao has a risk rating of R4 (medium-high risk), suitable for active (C4) and above investors. Please refer to the sales institution for appropriateness matching opinions. Any information appearing in this article (including but not limited to individual stocks, comments, predictions, charts, indicators, theories, any form of expression, etc.) is for reference only. Investors must take full responsibility for their own investment decisions. Additionally, any views, analyses, or forecasts in this article do not constitute investment advice to readers, nor do they assume any responsibility for direct or indirect losses arising from the use of this content. Fund investment carries risks. 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. Please invest cautiously. MACD gold cross signals formed; these stocks are showing strong upward trends!
Comments