On April 3, major A-share indices declined, yet the Hard Tech Broad-Based ETF tracking STAR Market and ChiNext growth leaders—Double Innovation 50 ETF (588330)—remained active, with its intraday gain reaching 1.34% before settling at a 0.22% increase. Notably, the ETF attracted 16.44 million yuan in net inflows over the past five days, signaling investor confidence in the hard tech sector’s future prospects and active positioning.
Among constituent stocks, computing hardware-related shares performed well against the market trend. Optical module leaders led the gains significantly, with Zhongji Innolight Co.,Ltd. and Suzhou Tfc Optical Communication Co.,Ltd. rising over 4%, while Eoptolink Technology Inc.,Ltd advanced more than 2%. PCB leaders also delivered strong performances, with Shengyi Technology Co.,Ltd and Shennan Circuits Company Limited gaining over 2%. Additionally, semiconductor leader Maxscend Microelectronics Co.,Ltd surged more than 5%, Cambricon Technologies Corporation Limited rose over 2%, and VeriSilicon Microelectronics Shanghai Co.,Ltd increased more than 1%.
Why did optical module stocks remain active amid the broader decline? Three key positive factors deserve attention: 1. MIIT promotes "computing power banking" The Ministry of Industry and Information Technology launched a special initiative to empower small and medium-sized enterprises with accessible computing resources. For the first time, MIIT explicitly proposed exploring innovative models such as "computing power banks" and "computing power supermarkets." These platforms allow SMEs to "deposit" idle computing resources, enabling flexible access and peak-shaving allocation—essentially a resource pooling and financial operation model inspired by banking deposit-loan logic. Cities like Shanghai and Hangzhou have already implemented such applications.
2. Nvidia H100 leasing costs surge nearly 40% in six months The leasing price for Nvidia’s four-year-old H100 chip, which hit $1.70 per hour in October 2025, soared to $2.35 per GPU per hour by March 2026, marking a nearly 40% increase.
3. Global optical fiber price hikes intensify Optical fiber prices are undergoing a new round of sharp increases worldwide, with the uptrend spreading from China to Europe and the U.S. Data shows that China’s G652.D bare fiber spot price reached 83.40 yuan per fiber-kilometer in March 2026, surging 165% month-on-month from January 2026 and 418% year-on-year. Meanwhile, similar products in the European market rose 136% month-on-month from January, indicating tightening global supply.
According to Guojin Securities, optimistic guidance from the OFC conference points to strong demand in the optical module industry, with the market size expected to grow 1.5–2 times by 2026 and double again in 2027. Arista officially announced the formation of XPO MSA, introducing a 12.8Tbps liquid-cooled pluggable optical module with a faceplate density of 204.8Tbps per OCP rack unit—four times that of the existing 1.6T OSFP solution—providing a pathway to extend the lifecycle of pluggable optical module ecosystems. Lumentum forecasts an 85% CAGR for indium phosphide chips from 2026 to 2030, benefiting upstream optical chip industries.
Kaiyuan Securities notes that under the "15th Five-Year Plan," technological security remains a top priority, driving significant advancements in self-reliance and fostering a "8466" development framework in key industries. New quality productive forces are expected to succeed real estate as a pillar industry, forming a rapid growth trajectory centered on energy foundations (new energy + controlled nuclear fusion) and core sectors (AI + electronics/semiconductors, aerospace + low-altitude economy, embodied AI, biopharma, etc.).
[Efficient Exposure to China’s Core Hard Tech] The Hard Tech Broad-Based ETF—Double Innovation 50 ETF (588330) and its off-exchange feeder funds (Class A: 013317 / Class C: 013318)—selects 50 large-cap strategic emerging industry listed companies from the STAR Market and ChiNext, covering popular themes such as optical modules, semiconductors, and photovoltaic equipment. The ETF is also eligible for margin trading and Stock Connect programs, serving as an efficient tool for investing in new quality productive forces.
Notably, the underlying index of Double Innovation 50 ETF (588330) achieved the "2025 Broad-Based Index Performance Champion," with a cumulative gain of 60.86% for the year, outperforming major indices like ChiNext 50 (57.45%), ChiNext Index (49.57%), STAR Composite Index (46.30%), and STAR 50 (35.92%).
Note: Double Innovation 50 ETF (588330) was previously traded under the ticker "双创龙头ETF."
Risk Disclosure: Double Innovation 50 ETF passively tracks the CSI STAR Market and ChiNext 50 Index, which has a base date of December 31, 2019, and was launched on June 1, 2021. The index’s annual returns from 2020 to 2024 were 86.90%, 0.37%, -28.32%, -18.83%, and 13.63%, respectively. Index constituents are adjusted per its methodology, and past performance does not indicate future results. Mentioned stocks are for illustrative purposes only and do not constitute investment advice or reflect the fund manager’s holdings. The fund manager rates Double Innovation 50 ETF as R4 (moderately high risk), suitable for aggressive (C4) or higher risk-profile investors. suitability assessments are subject to sales institutions. All information provided is for reference only, and investors are responsible for their investment decisions. No content herein constitutes investment advice, and no liability is accepted for losses arising from its use. Fund investments carry risks; past performance does not guarantee future results, and other funds managed by the fund manager do not assure this fund’s performance. Invest cautiously.
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