In early trading on July 21st, technology leaders staged a rebound from their lows, with semiconductor equipment stocks leading a collective charge! The tech ETF Huabao (515000), characterized by its attributes of "hard tech beta + high-quality leader alpha," initially fell over 4% but has since rebounded more than 5%. Funds have seen a net inflow totaling 200 million yuan over the past two days.
Among the popular constituent stocks, semiconductor equipment spearheaded the rebound. Naura Technology Group Co.,Ltd. hit the daily limit-up, while Changchuan Technology surged over 13%. Tuojing Technology and AMEC both gained over 10%. Memory chips also rebounded, with Montage Technology rising over 8% and GigaDevice climbing more than 7%.
Huaan Securities indicated that as technology stocks continue to validate high growth in their earnings reports and expectations for large-scale IPOs materialize, the sector is poised for a potential rebound. The market's primary focus should remain on the upstream and midstream segments of the AI industry, a structural trend expected to persist until year-end. In terms of allocation strategy, the logic of prioritizing growth industries with strong cyclical performance amidst a still-weak broader economic cycle remains clear.
Looking at the distribution across CSI secondary industries, semiconductors, electronics, and communication equipment & technical services collectively account for approximately 90% of the weighting in the CSI Technology Leaders Index, indicating high purity. This means the index holdings are almost entirely concentrated in core hard technology sectors, aligning closely with current market themes such as the AI computing chain, semiconductor localization, and optical communication. The top ten constituents aggregate leaders from various sub-sectors including optical modules, semiconductor equipment, memory chips, PCBs, and innovative drugs.
In terms of performance, the on-market price of tech ETF Huabao (515000) has repeatedly hit new highs this year, with its underlying index demonstrating strong momentum and its allocation value becoming increasingly prominent. As of June 30, 2026, the CSI Technology Leaders Index has accumulated a gain of 153% over the past year, significantly outperforming popular tech indices like the Sci-Tech Innovation 50 Index over the same period. It can be considered a "Tech Broad-Based Pro Max" version, serving as a high-quality tool for gaining exposure to the primary technology market trend.
Note: Tech ETF Huabao passively tracks the CSI Technology Leaders Index. The base date for this index is June 29, 2012, and it was launched on March 20, 2019. The annual historical returns for the CSI Technology Leaders Index from 2021 to 2025 were: -3.92%, -34.84%, 0.81%, 11.50%, and 51.54% respectively. The corresponding annualized volatility for the index during those years was: 21.46%, 26.5%, 19.83%, 36.36%, and 27.34%. The index's constituent stocks are adjusted according to its compilation rules, and its back-tested historical performance does not indicate future results.
For technology bull markets, invest in the leaders! Tech ETF Huabao (515000) and its feeder funds (Feeder A: 007873, Feeder C: 007874) select 50 listed companies from the technology sectors in the Shanghai and Shenzhen markets—including electronics, computers, communications, and biotechnology—based on criteria such as large scale, high market share, strong growth potential, and significant R&D investment. They represent the core assets of A-share technology leaders, embodying the characteristics of "hard tech beta" + "excess alpha from high-quality leaders," making them a Tech Broad-Based ProMax.
Data source: Shanghai and Shenzhen Stock Exchanges, etc. Note: "First domestic" refers to the first ETF tracking the CSI Technology Leaders Index.
ETF-related fee explanation: When investors subscribe for or redeem fund shares, subscription/redemption agents may charge a commission not exceeding 0.5%. On-market trading fees are subject to the rates charged by securities firms, and no sales service fee is charged.
Feeder fund-related fee explanation: For Huabao Tech ETF Feeder A, subscription fees are 1.00% for amounts below 1 million yuan, 0.60% for amounts between 1 million yuan (inclusive) and 2 million yuan, and a flat fee of 1,000 yuan per transaction for amounts of 2 million yuan (inclusive) and above. Redemption fees are 1.50% for holdings under 7 days, 0.50% for holdings between 7 days (inclusive) and 180 days, and 0.00% for holdings of 180 days (inclusive) and above. No sales service fee is charged. Huabao Tech ETF Feeder C charges no subscription fee. Redemption fees are 1.50% for holdings under 7 days and 0.00% for holdings of 7 days (inclusive) and above. The sales service fee is 0.40% per annum. ETF subscription/redemption agents may charge a commission not exceeding 0.5%. On-market trading fees are subject to the rates charged by securities firms.
Risk Disclosure: Tech ETF Huabao passively tracks the CSI Technology Leaders Index. The base date for this index is June 29, 2012, and it was launched on March 20, 2019. The index's constituent stocks are adjusted according to its compilation rules, and its back-tested historical performance does not indicate future results. The index constituents mentioned in this article are for illustrative purposes only. Descriptions of individual stocks do not constitute investment advice in any form, nor do they represent the holdings information or trading动向 of any fund managed by the fund manager. The fund manager assesses this fund's risk level as R3-Medium Risk, suitable for Balanced (C3) and above investors. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, expressions of any form, etc.) is for reference only. 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 readers, and no liability is accepted for any direct or indirect losses arising from the use of this content. Fund investment involves risks. The past performance of a fund does not indicate its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Invest in funds with caution.
Comments