On May 25th, while the Hong Kong stock market was closed for the Buddha's Birthday holiday, ETFs listed on the A-share market that track Hong Kong's hard technology sector saw significant premium gains. The largest and most liquid ETF of its kind, the Huabao Hong Kong Stock Connect Information Technology ETF (159131), surged over 4% at the open and is currently up 3.18%, with real-time trading volume exceeding 200 million yuan.
Last Friday, the National Development and Reform Commission (NDRC) held a press conference, guiding domestic large-scale models to increase efforts in adapting to domestic computing power chips. Li Chao, Deputy Director of the NDRC's Policy Research Office and spokesperson, stated at the press conference that core technologies and application demands in the artificial intelligence field are showing rapid growth. China consistently adheres to systematic planning, industry-specific strategies, open sharing, and security control, promoting the deep integration of AI with various sectors of the economy and society, and guiding domestic large-scale models to intensify adaptation to domestic computing power chips.
Kaiyuan Securities commented that this statement elevates the coordinated adaptation of "domestic large-scale models" and "domestic computing power chips" to a clear policy guidance level. Domestic CSPs such as Alibaba and Tencent have indicated they will increase capital expenditures, reflecting strong downstream demand. Furthermore, as the supply of domestic chips gradually increases, the computing power supply situation is expected to improve, presenting new opportunities for domestic computing power.
Since rebounding from its low on March 31, the underlying index of the Huabao Hong Kong Stock Connect Information Technology ETF (159131)—the CSI Hong Kong Stock Connect Information Technology Composite Index—has accumulated a gain of 32.59%. In the same period, the Hang Seng Tech Index and the Hong Kong Stock Connect Technology Index rose by 3.83% and 2.6% respectively, demonstrating significantly sharper performance and greater elasticity.
Statistical period: March 31, 2026 - May 22, 2026. The annual historical returns of the Hong Kong Stock Connect Information C Index from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30% respectively. Past index performance is not indicative of future results.
Supports T+0 Trading! Targeting the Super Cycle in Hong Kong Chip Stocks — The Huabao Hong Kong Stock Connect Information Technology ETF (159131) is the first of its kind in the entire market, the largest in scale, and the most liquid. Its off-exchange feeder fund code is 026755. The underlying index is composed of "70% hardware + 30% software," heavily weighted towards Hong Kong-listed "semiconductors + electronics + computer software." It covers 52 hard technology companies in Hong Kong, with a storage chip component exceeding 26%. Key holdings include
Data source: China Securities Index Company, Shanghai and Shenzhen Stock Exchanges.
Note: "First in the entire market" refers to the Huabao Hong Kong Stock Connect Information Technology ETF being the first ETF to track the CSI Hong Kong Stock Connect Information Technology Composite Index. As of May 19, 2026, the latest on-exchange scale of the ETF is 7.75 billion yuan, making it the largest among the 7 ETFs currently tracking the index. Its average daily trading volume year-to-date is 166 million yuan. The annual historical returns of the underlying index, the CSI Hong Kong Stock Connect Information Technology Composite Index (HKD), from 2021 to 2025 were: -9.54%, -34.47%, -0.25%, 21.58%, and 39.30% respectively. Past index performance is not indicative of future results.
Fund Fee Explanation: The subscription and redemption agents for the Huabao Hong Kong Information Technology ETF may charge a commission of up to 0.5%. On-exchange trading fees are subject to the actual charges by securities firms. No sales service fee is charged.
*Institutional view reference source: Kaiyuan Securities "Weekly View: NDRC Guides Domestic Large Models to Adapt to Domestic Chips, Continue to Value Domestic Computing Power."
Risk Disclosure: The Huabao Hong Kong Stock Connect Information Technology ETF and its feeder fund passively track the CSI Hong Kong Stock Connect Information Technology Composite Index. The base date of the index is November 14, 2014, and its release date is June 23, 2017. The index constituents mentioned in the material are for illustrative purposes only. Descriptions of individual stocks do not constitute investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the fund manager. This product is issued and managed by Huabao Fund. Distributors do not assume responsibility for the investment, redemption, or risk management of the product. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Key Facts Statement," and other legal fund documents to understand the fund's risk-return characteristics and choose a product suitable for their own risk tolerance. Past fund performance is not indicative of future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment involves risks! The fund manager assesses this fund's risk等级 as R4 - Medium to High Risk, suitable for Aggressive (C4) and above investors. Sales institutions (including the fund manager's直销机构 and other sales institutions) evaluate the fund's risk according to relevant laws and regulations. Investors should promptly pay attention to the appropriateness opinions issued by sales institutions and base their decisions on the matching results. Appropriateness opinions from different sales institutions may not necessarily be consistent. The fund product risk等级 evaluation results issued by fund sales institutions shall not be lower than the risk等级 evaluation results made by the fund manager. There may be differences between the fund's risk-return characteristics described in the fund contract and its risk等级 due to different考虑因素. Investors should understand the fund's risk-return profile and choose fund products结合自身投资目的, investment horizon, investment experience, and risk tolerance, bearing the risks themselves. The China Securities Regulatory Commission's registration of this fund does not indicate its substantive judgment or guarantee of the fund's investment value, market prospects, or returns. Funds carry risks; investment requires caution.
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