On Friday (January 16), the ChiNext AI sector declined by 2%, testing its five-day moving average, while substantial capital flowed in! AI application concept stocks experienced a broad-based correction, with Hand Information, BlueFocus, Kunlun Tech, and others falling over 10%. However, the computing power segment, including optical modules, remained active, with Lante Tech, T&S Communications, ZS Technology, and others rising over 5%, while Changxin Boke, TFC Optical, Accelink, Ruijie Networks, and others gained over 1%.
Regarding popular ETFs, the ChiNext AI ETF (159363), which has a dual-line strategy targeting both "computing power and AI applications," closed down 1.81% intraday, testing its five-day moving average, with a trading volume exceeding 1.2 billion yuan. Capital inflows accelerated significantly, with a single-day net subscription of 436 million units (estimated value approximately 478 million yuan based on the day's average price). Combined with the 1.2 billion yuan increase over the previous four days, the cumulative weekly inflow reached approximately 1.678 billion yuan!
A comprehensive analysis suggests three potential reasons behind the influx of nearly 1.7 billion yuan into fund 159363 to position in the ChiNext AI sector: 1. The ChiNext AI sector continues to lead the market! A weekly review shows that the first half of the week was driven by an AI application surge, followed by a market rotation back towards the computing power direction, such as optical modules. The ChiNext AI ETF (159363) recorded a strong eighth consecutive weekly gain, with its underlying index accumulating a 34.66% increase over eight weeks. This significantly outperformed peer AI-themed indices like STAR AI, CS Artificial Intelligence, and the AI Index, validating the superior elasticity of the ChiNext AI sector.
Note: The HuaBao ChiNext AI ETF passively tracks the ChiNext Artificial Intelligence Index. The base date for this index is December 28, 2018, and its release date was July 11, 2024. The annual performance of the ChiNext AI Index from 2021 to 2025 was: +17.57%, -34.52%, +47.83%, +38.44%, and +106.35%, respectively. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its historical backtested performance does not indicate future results. 2. Trading on expectations for the computing power earnings theme! Focusing on computing power opportunities, optical modules and CPO have shown repeated activity, with earnings expectations being a key catalyst. Cao Xuchen, the fund manager of the HuaBao ChiNext AI ETF (159363), stated that short-term corrections do not alter the expectation of strong performance in the A-share market for the first half of this year. During pullbacks, high-earning stocks like those in the optical module sector are expected to become a focal point for market consolidation, suggesting attention to allocation opportunities in the sector. Guosheng Securities believes the optical module industry is in a high-growth cycle, with explosive AI computing demand driving rapid growth for high-end optical modules, making supply the core constraint. Against the backdrop of the computing power industry chain's high景气 cycle, leading optical module manufacturers are accelerating capacity expansion in mainland China and Thailand. The industry is expected to see concentrated capacity release in the first quarter of 2026, driving earnings into a new growth phase.* 3. The product's strength is significantly superior to its peers! As of January 15, the HuaBao ChiNext AI ETF (159363) reached a record high AUM of 5.527 billion yuan, with a recent six-month average daily trading volume of nearly 800 million yuan. Its AUM and trading volume rank first among the eight ETFs tracking the ChiNext AI Index! Furthermore, Hong Kong Exchanges and Clearing data shows that 159363 has been officially included in the Stock Connect program, effective January 19, making it a preferred choice for northbound capital allocation, which could further enhance its intraday trading activity.
Looking ahead, as AI development progresses from computing infrastructure construction to application deployment, the ChiNext AI ETF (159363) and its off-exchange联接 funds (Class A: 023407; Class C: 023408), which offer one-click exposure to both "computing power and AI applications," stand to benefit more directly from the growth红利 of the AI technology commercialization explosion. From a sector perspective, the ChiNext AI ETF allocates approximately 60% to computing power (primarily optical modules) and about 40% to AI applications, positioning it not only as a core "computing power" play but also as a genuine representative of "AI applications." Data source: Shanghai and Shenzhen Stock Exchanges, etc. Note: "First in the entire market" refers to being the first ETF tracking the ChiNext Artificial Intelligence Index. *Institutional views referenced from: Guosheng Securities Research Report "Optical Modules - The Eve of a New Round of Capacity Release." ETF fee description: When investors subscribe for or redeem fund units, the subscription/redemption agent may charge a commission of up to 0.5%. Intraday trading fees are subject to the rates charged by the securities firm.联接 Fund fee description: The ChiNext AI ETF联接 Fund Class C does not charge a subscription fee; the redemption fee is 1.5% within 7 days and 0% for 7 days or more; the sales service fee is 0.3%. The ChiNext AI ETF联接 Fund Class A charges a subscription fee of 1% for amounts below 1 million yuan, 0.6% for 1 million (inclusive) to 2 million yuan, and a flat fee of 1,000 yuan per transaction for 2 million yuan (inclusive) or above; the redemption fee is 1.5% within 7 days and 0% for 7 days or more; no sales service fee is charged. Risk提示: The HuaBao ChiNext AI ETF passively tracks the ChiNext Artificial Intelligence Index. The base date for this index is December 28, 2018, and its release date was July 11, 2024. The annual performance of the ChiNext AI Index from 2021 to 2025 was: +17.57%, -34.52%, +47.83%, +38.44%, and +106.35%, respectively. The composition of the index's constituent stocks is adjusted according to its compilation rules, and its historical backtested performance does not indicate future results. The index constituents mentioned are for illustrative purposes only; descriptions of individual stocks are not investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the asset manager. The fund manager assesses this fund's risk等级 as R4 - Medium-High Risk, suitable for Aggressive (C4) and above investors; the appropriateness matching opinion is subject to the selling institution. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only, and investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts in this article do not constitute investment advice of any kind to the reader, nor shall they be liable for any direct or indirect losses arising from the use of this content. Fund investment carries risks; the past performance of a fund does not indicate its future results, and the performance of other funds managed by the fund manager does not guarantee the performance of this fund. Invest cautiously in funds.
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