Market Overview - The A-share market experienced a rebound, with the Shanghai Composite Index reaching a ten-year high and the ChiNext Index leading the gains [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.97 trillion yuan, an increase of 330.3 billion yuan compared to the previous trading day [1][7] Sector Performance - The computing hardware sector saw significant growth, with CPO concept stocks leading the rally. Major players in the "optical module" sector also performed well, with Zhongji Xuchuang rising over 12% to reach a historical high [1] - Storage chip stocks showed strong performance, with both Shannon Chip and Purun Co., Ltd. hitting the daily limit and achieving new highs [1] - The commercial aerospace sector experienced a surge, with over ten stocks, including Aerospace Science and Technology, reaching the daily limit [1] - Conversely, coal stocks faced a collective adjustment, with Antai Group hitting the daily limit down [1][2] Index Performance - As of the market close, the Shanghai Composite Index rose by 0.71%, the Shenzhen Component Index increased by 2.02%, and the ChiNext Index surged by 3.57% [3][4]

Core Viewpoint - A-shares experienced a collective rise on October 24, with significant gains in the semiconductor sector, while other sectors like coal and real estate faced declines [3][4]. Market Performance - The three major A-share indices closed higher: Shanghai Composite Index rose by 0.71% to 3950.31, Shenzhen Component Index increased by 2.02% to 13289.18, and ChiNext Index surged by 3.57% to 3171.57. The Sci-Tech Innovation 50 Index saw a notable rise of 4.35% to 1462.22 [3][4]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.97 trillion yuan, an increase of 330.3 billion yuan compared to the previous trading day, with over 3000 stocks rising [5]. Sector Performance - The semiconductor industry chain saw a comprehensive breakout, with storage chips and GPU concepts leading the gains. Notably, Zhongji Xuchuang surged over 11%, reaching a historical high. In contrast, sectors such as coal, gas, real estate, and liquor experienced declines [4]. Capital Flow - Main capital inflows were observed in the electronics, semiconductor, and communication equipment sectors, while there were outflows from cultural media, coal, and banking sectors. Specific stocks with significant net inflows included Luxshare Precision (1.885 billion yuan), Sungrow Power Supply (1.335 billion yuan), and Zhongji Xuchuang (1.244 billion yuan). Conversely, Huagong Technology, Keda Technology, and China Nuclear Engineering faced net outflows of 993 million yuan, 561 million yuan, and 555 million yuan respectively [7]. Institutional Perspectives - Jianghai Securities noted that the market is facing previous resistance levels and may consolidate before aiming higher [9]. - Dexun Securities expressed a positive outlook for the A-share market in the medium to long term, anticipating further index increases [10]. - Shenwan Hongyuan maintained that the market's upward trend remains intact [11].

Market Overview - The total trading volume in the Shanghai and Shenzhen markets reached 1.97 trillion yuan, an increase of 330.3 billion yuan compared to the previous trading day [1][4] - All three major A-share indices closed higher, with the Shanghai Composite Index rising by 0.71%, the Shenzhen Component Index by 2.02%, and the ChiNext Index by 3.57% [1][2] Sector Performance - The semiconductor industry chain experienced a significant surge, with storage chips and GPU concepts leading the gains. The K-12 education and commercial aerospace sectors also showed strong upward momentum [2] - Notable individual stock performances included Zhongji Xuchuang, which rose over 11% to reach a new historical high [2] Capital Flow - Main capital inflows were observed in the electronics, semiconductor, and communication equipment sectors, while there were net outflows from cultural media, coal, and banking sectors [5] - Specific stocks with significant net inflows included Luxshare Precision, which saw an inflow of 1.885 billion yuan, and Sungrow Power Supply with 1.335 billion yuan [5] Institutional Insights - Jianghai Securities noted that the market is facing previous resistance levels, suggesting a consolidation phase before potential upward movement [6] - Dexun Securities expressed a positive outlook for the A-share market in the medium to long term, anticipating higher index levels [6] - Shenwan Hongyuan maintained that the market's upward trend remains intact [6]

该机构表示，随着数据中心对数据传输的规模和速率要求持续提升，CPO和CPC等连接器产品市场规模 将不断增长。特别是随着CPC技术的引入，传统连接器企业也开始进入了传统光模块企业所垄断的数据 连接器市场。建议关注立讯精密等传统连接器龙头企业积极布局数据中心产业链的投资机会。 行业方面，随着AI大模型参数量与计算量呈指数式增长，数据中心内芯片间、设备间的实时数据交互 量随之爆发式增长，传统可插拔光模块在短距离、高频率传输场景中逐渐显现成本与能效比不足的问 题。传统板边光模块更暴露出信号长距传输损耗大、时延高、互联密度受限的局限，难以支撑超高带宽 场景下的低时延互联需求；为满足这一急剧增长的数据量需求，光电互连技术正从传统形态持续朝着集 成度更高、体积更小、能效更优的方向加速演进，CPO（共封装光学）与CPC（共封装铜互连）成为该 领域未来发展的最新技术进展。 爱建证券指出，CPO作为将网络交换芯片与光模块共封装的新型光电子集成技术，深度融合光纤通信、 ASIC设计及先进封装测试技术，能通过缩短交换芯片与光引擎物理距离提升传输速度、减少损耗，优 化数据交互效率。不过当前存在产品成熟度低、维护难、互联生态构建难等问题 ...

| 代码 | 名称 | 现价 | | 涨跌 涨跌幅 ▼ | | --- | --- | --- | --- | --- | | 159388 | 创业板人工智能ETF国泰 | 1.805 | 0.095 | 5.56% | | 159381 | 创业板人工智能ETF华夏 | 1.665 | 0.086 | 5.45% | | 159242 | 创业板人工智能ETF大成 | 1.490 | 0.077 | 5.45% | | 159363 | 创业板人工智能ETF华宝 | 0.884 | 0.046 | 5.49% | | 159382 | 创业板人工智能ETF南方 | 1.893 | 0.096 | 5.34% | | 159246 | 创业板人工智能ETF富国 | 1.667 | 0.084 | 5.31% | | 159279 | 创业板人工智能ETF华安 | 1.010 | 0.049 | 5.10% | 有券商表示，AI应用生态日趋完善，大模型技术在金融、医疗、教育等垂直领域的渗透率快速提升，商业化进程超出市场预 期；随着政策支持力度加大和国产算力建设提速，人工智能产业链各环节龙头企业有望持续受益。 ...

Group 1 - A-share technology stocks experienced a significant surge on October 24, with major technology indices such as Growth, Sci-Tech Innovation 50, and others showing substantial gains, particularly in sectors like memory, circuit boards, and optical modules [1] - The Cloud Computing 50 ETF (516630) rose over 3.5% in the afternoon, with leading stocks including Zhongji Xuchuang, Xinyisheng, and others, with Zhongji Xuchuang increasing by over 11% [1] - Huashan Securities predicts that the current phase of adjustment is nearing its end, suggesting that the growth sector remains the optimal focus for investment, with a favorable timing for positioning [1] Group 2 - The Cloud Computing 50 ETF (516630) tracks the cloud computing index (930851), which has a high AI computing content, covering popular concepts such as optical modules, computing leasing, data centers, and AI servers [2] - The ETF has the lowest total fee rate for tracking this index, making it an attractive option for investors [2]

Group 1 - The China Securities Artificial Intelligence Theme Index (930713) has seen a strong increase of 5.35% as of October 24, 2025, with notable gains in constituent stocks such as Zhongji Xuchuang (300308) up by 11.67%, Cambricon (688256) up by 10.28%, and Huida Technology (603160) up by 10.00% [1] - The AI Artificial Intelligence ETF (512930) has risen by 5.18%, with the latest price reported at 2.19 yuan, and it features the lowest management fee rate of 0.15% and a custody fee rate of 0.05% among comparable funds [1] - The AI Artificial Intelligence ETF closely tracks the China Securities Artificial Intelligence Theme Index, which selects 50 listed companies involved in providing foundational resources, technology, and application support for artificial intelligence [1] Group 2 - As of September 30, 2025, the top ten weighted stocks in the China Securities Artificial Intelligence Theme Index include Xinyi Technology (300502), Zhongji Xuchuang (300308), and Cambricon (688256), with the top ten stocks accounting for a total of 61.36% of the index [2] - The weight and performance of individual stocks in the index show that Zhongji Xuchuang has a weight of 6.71% and an increase of 11.67%, while Cambricon has a weight of 6.45% with a rise of 10.28% [4] - The AI Artificial Intelligence ETF has various connection options, including Ping An China Securities Artificial Intelligence Theme ETF Initiated Connection A (023384) and others [4]

10月24日午后，算力股持续走强，中际旭创大涨近12%，本周累计涨超30%，截至发稿，报492.49元/ 股，成交额为190亿元。 此外，方正科技一度涨停，现涨超9%；胜宏科技、景旺电子、新易盛、工业富联多股涨超5%。 ...

编辑｜钉钉 此外，方正科技一度涨停，现涨超9%；胜宏科技、景旺电子、新易盛、工业富联多股涨超5%。 10月24日午后，算力股持续走强，中际旭创大涨近12%，本周累计涨超30%，截至发稿，报492.49 元/股，成交额为190亿元。 ...

Group 1 - The core viewpoint of the news highlights the significant performance of the cloud computing ETF, Huatai-PineBridge (159273), which surged nearly 4% due to favorable policy developments, with trading volume exceeding 420 million yuan, far surpassing the previous day's total [1][3] - As of October 23, the latest scale of the cloud computing ETF Huatai-PineBridge has exceeded 1.6 billion yuan, maintaining a leading position among its peers [1] - Major stocks within the ETF's index saw positive movements, with notable gains from companies such as Zhongji Xuchuang (over 10% increase) and Xinyi Sheng (7% increase) [4] Group 2 - A recent agreement between China and the U.S. involves Chinese representatives visiting Malaysia for economic and trade discussions from October 24 to 27, indicating ongoing diplomatic engagement [3] - High-level discussions emphasized significant achievements in high-quality development and advancements in technological self-reliance during the "14th Five-Year Plan" period [3][6] - Analysts from China Galaxy Securities express a long-term positive outlook on the computing power industry, driven by AI and semiconductor growth, with expectations for continued demand in various sectors [6][7] Group 3 - Domestic AI computing power leaders, Haiguang Information and Cambricon, reported substantial revenue growth in their third-quarter results, indicating a robust expansion phase for domestic AI computing capabilities [9] - Haiguang Information achieved a revenue of 9.49 billion yuan, a year-on-year increase of 54.65%, while Cambricon reported a staggering 2386.38% increase in revenue, reaching 4.607 billion yuan [9] - The cloud computing ETF Huatai-PineBridge is positioned to capture opportunities in the AI-driven computing landscape, covering a wide range of sectors including hardware, cloud services, and IT services [9]