On the morning of April 1, artificial intelligence stocks on the ChiNext Board staged a strong rebound. Suzhou Tfc Optical Communication Co.,Ltd. led the gains, rising nearly 7%, while Ruijie Networks, 263 Networks, Linktel Technologies, Wangsu Science & Technology, Kunlun Tech, and Changxin Storage Technologies all advanced more than 4%.
Among popular ETFs, the largest and most liquid AI-focused ETF on the ChiNext Board, Huabao ChiNext AI ETF (159363), climbed 3% during the session, with real-time turnover exceeding 200 million yuan. The fund has seen net inflows for four consecutive days, accumulating 230 million yuan in additional capital.
Positive catalysts are converging for the computing power sector. Firstly, the situation in the Middle East appears to be stabilizing, leading to a recovery in market risk appetite and a subsequent rebound in technology stocks. Secondly, despite an 83% price increase for Zhipu's API calls in the first quarter of 2026, call volume still grew by 400%, continuing to validate the supply-demand imbalance in the computing power market.
As the market enters a reallocation window following the end of the first quarter, Guolian Minsheng Securities recommends focusing on sectors with strong first-quarter earnings. The institution notes that the AI technological revolution is driving a new growth cycle, creating significant opportunities in optical connectivity, domestic computing power, AI edge applications, and commercial aerospace. It suggests selecting leading sub-sector companies with solid earnings support, such as top-tier optical module manufacturers.
A recent Guosheng Securities research report indicates that as AI computing clusters evolve towards higher density in 2026, 1.6T optical modules are entering a phase of mass adoption. This is leading to renewed tightness in the supply of key upstream components like DSPs, EMLs, silicon photonics capacity, and isolators. Leading optical module manufacturers, with their in-house silicon photonics R&D and supply chain control capabilities, are poised to extend their advantages during this 1.6T adoption cycle.
To capture opportunities in AI computing power, investors may consider the Huabao ChiNext AI ETF (159363), which focuses on optical module leaders, along with its feeder funds (Class A: 023407, Class C: 023408). The ETF directly benefits from the growth driven by the commercialization of AI technology. The fund allocates approximately 60% of its portfolio to computing power (including optical module/CPO leaders) and about 40% to AI applications, positioning it as a core holding for both computing infrastructure and AI software exposure.
According to data from the Shanghai and Shenzhen Stock Exchanges, as of March 27, 2026, the Huabao ChiNext AI ETF had a net asset value of 5.598 billion yuan, with an average daily turnover of 739 million yuan over the past six months. It ranks first in both size and trading volume among the 26 ETFs tracking the ChiNext AI Index, the STAR AI Index, and the ChiNext-STAR AI Index.
A bullish MACD crossover signal has formed, indicating positive momentum for several constituent stocks.
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