创业50ETF（159682）业绩比较基准为创业板50指数收益率，管理人为景顺长城基金管理有限公司，基 金经理为汪洋、张晓南，成立（2022-12-23）以来回报为34.32%，近一个月回报为-8.44%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 来源：新浪基金∞工作室 11月25日，截止午间收盘，创业50ETF（159682）涨2.76%，报1.379元，成交额2.79亿元。创业50ETF （159682）重仓股方面，宁德时代截止午盘涨1.35%，中际旭创涨6.06%，东方财富涨0.51%，新易盛涨 6.03%，阳光电源涨5.87%，胜宏科技涨6.15%，汇川技术涨1.35%，迈瑞医疗涨0.73%，亿纬锂能涨 1.82%，同花顺涨0.73%。 ...

（文章来源：每日经济新闻） 5G概念股走强，沪电股份涨停，新易盛涨超7%，中际旭创、兆易创新、东山精密涨超6%。 受重仓股大涨影响，5GETF、5G通信ETF涨超5%。 有券商表示，AI可能是自云计算以来最大的产业机会。从硬件层面看，除GPU保持较快增速之外，ASIC 可能在明年成为第二增长引擎，北美算力产业链条业绩有望在后续几个季度保持较高增速。从需求端看， 北美云厂商云收入增长和资本开支投入形成共振，人工智能闭环清晰，发展仍处上升通道。 ...

Group 1 - The technology growth sector is experiencing strong gains, with the ChiNext Index rising over 2.5% and the Sci-Tech Innovation Index increasing by more than 1.7% [1] - The Double Innovation Leader ETF (588330) saw a peak intraday increase of 3.45%, currently up 2.5%, with a trading volume exceeding 320 million yuan [1] - Key stocks in the optical module sector, such as Zhongji Xuchuang and Xinyi Sheng, rose over 6%, while Tianfu Communication increased by more than 4% [1] Group 2 - HSBC's latest report indicates that the acceleration of AI server iterations is driving a dual rise in technology and pricing for core components like PCBs and CCLs [1] - Citigroup previously projected that the supply-demand tension for AI PCBs will persist until next year [1] - The report emphasizes the importance of technology leadership in the A-share market, with a focus on sectors like new energy vehicles and the internet [2] Group 3 - The Double Innovation Leader ETF is characterized by cross-market diversification, focusing on 50 large-cap strategic emerging industry companies from the ChiNext and Sci-Tech Innovation boards [2] - The ETF is designed to capture technology market trends with a low investment threshold, allowing entry for less than 100 yuan [2] - The index has a 20% limit on daily price fluctuations, enhancing its ability to act as a rebound leader [2]

Group 1 - The technology sector led a strong rebound in A-shares, with AI hardware, particularly CPO, experiencing significant gains, including Guangku Technology rising over 16% [1] - Industrial Fulian clarified that it has not lowered its fourth-quarter profit target and that operations, including the shipment of GB200 and GB300 products, are proceeding as planned with strong customer demand [1] - A total of 310 A-share stocks saw financing purchases exceeding 100 million, with Zhongji Xuchuang, BlueFocus Communication, and Industrial Fulian ranking as the top three in financing amounts [1] Group 2 - The 5G Communication ETF rose by 5.7%, covering key components of AI computing systems, including optical modules and PCB, with significant weight in leading companies like Zhongji Xuchuang and Industrial Fulian [2] - The Huaxia Entrepreneurial AI ETF, which has the highest CPO content and lowest fee rate, increased by 5.82%, with major holdings including Zhongji Xuchuang and Xin Yisheng [2]

Core Viewpoint - The computing power sector has seen significant gains due to a series of domestic and international catalysts in the AI industry, with multiple stocks experiencing substantial increases in value [1][3]. Group 1: Market Performance - The cloud computing ETF (159890) surged by 2.82% on November 25, with major holdings such as Zhongji Xuchuang and Xinyi Sheng rising over 6% [1][2]. - Other stocks like Inspur Information and Yidian Tianxia also saw increases exceeding 3% and 7%, respectively, indicating a strong market response [1]. Group 2: Industry Catalysts - Recent AI industry catalysts include the mass production of NVIDIA's next-generation Rubin GPU, the launch of Google's new model Gemini, and clear capital expenditure guidance from cloud vendors [1][3]. - Google’s AI infrastructure head stated the necessity to double AI computing power every six months and achieve a thousandfold increase in the next 4 to 5 years to meet rising demand [3]. Group 3: Investment Outlook - Analysts from Guotai Junan and Zhongyuan Securities express optimism regarding the capital expenditure outlook of leading cloud vendors, highlighting high demand across the AI computing power supply chain [3]. - The industry is transitioning from 800G to 1.6T technology, with leading optical module manufacturers expected to benefit from stable customer relationships and scalable delivery capabilities [3]. Group 4: ETF Composition - The cloud computing ETF tracks an index that includes top companies like Zhongji Xuchuang and Xinyi Sheng, as well as major players in electronic terminals and software development, providing a comprehensive solution for the AI era [4].

Core Viewpoint - The report from Zhongyuan Securities indicates that a series of AI industry catalytic events will occur in 2026, strengthening the leading position of top optical module manufacturers due to their technological, customer, and scale advantages. The current valuation of the communication industry index is below the ten-year average, and the industry maintains a "stronger than the market" investment rating based on performance growth expectations and valuation levels [1][2]. Summary by Sections Review of 2025 - In early 2025, the DeepSeek large model boosted market sentiment, and the three major operators completed the deployment of DeepSeek computing power private networks, enhancing their cloud service capabilities. Domestic cloud manufacturers provided positive capital expenditure guidance, leading to an increase in industry valuations. However, from February to April, the industry index experienced significant fluctuations due to concerns over U.S. tariff policies and future demand for optical modules. By mid-April, the easing of tariff policies and validation of AI computing power demand led to a gradual recovery in the industry index and valuations. In late July, North American cloud manufacturers raised their capital expenditure guidance, further catalyzing the industry. Since September, leading manufacturers faced short-term performance fatigue due to product iterations and customer structure adjustments, raising concerns about unclear downstream business models [2]. Outlook for 2026 - A series of AI industry catalytic events are expected, including the mass production of NVIDIA's next-generation Rubin GPU, the release of Google's new large model Gemini, and clear capital expenditure guidance from cloud manufacturers. AI smartphones equipped with large models are anticipated to become personalized smart assistants, potentially driving the next wave of smartphone upgrades. The development of key 6G technologies by telecom operators is expected to accelerate revenue growth from AI computing power. The report is optimistic about the high industry prosperity and strong growth potential of optical modules, optical devices, optical chips, and the increasing penetration of AI smartphones, as well as the stable operations of quality dividend assets in telecom operators [3][4]. Capital Expenditure Outlook for Leading Cloud Manufacturers - The demand for 800G is increasing, and the industry is transitioning from 800G to 1.6T technology. Leading optical module manufacturers are expected to further highlight their advantages due to technological leadership, stable customer relationships, and scalable delivery capabilities. The development of AI is driving the construction of large data centers, benefiting optical device manufacturers. The long R&D and expansion cycles for optical chips create high barriers in technology, talent, customer validation, and capital, leading to a persistent supply-demand gap for certain optical chips. The increasing demand for domestic controllable solutions is expected to translate into performance for domestic computing power. Recommended companies to watch include: NewEase, Huagong Technology, Guangxun Technology, Yuanjie Technology, Shijia Photon, and Taicheng Light [4]. AI Smartphones and Market Trends - Generative AI smartphones are set to provide users with new interactive experiences, multimodal content generation capabilities, personalized services, and innovative application ecosystems. The continuous improvement of edge AI computing power and large model capabilities is expected to further increase the market penetration of AI smartphones. Innovations and upgrades in AI smartphones are likely to lead to higher average selling prices and improved profit margins. The growth in edge AI shipments will drive sustained growth in core product lines of consumer electronics components [5]. Telecom Operators' Performance - The three major telecom operators are considered quality dividend assets with high dividend yield potential, offering cash dividends twice a year. The quality of traditional business revenue is improving, and a decrease in capital expenditure is expected to lower future depreciation and amortization costs, maintaining stable operations. Additionally, telecom operators are likely to leverage their advantages in data centers, big data, and network infrastructure to reconstruct business models with the help of AI. Investment recommendations include focusing on the optical module, optical device, and optical chip sectors, as well as AI smartphone and telecom operator sectors [6].

在近年来AI掀起的科技浪潮中，创业板50指数表现突出，截至11月21日，该指数2024年以来涨幅超过 70%，当前覆盖新能源、人工智能、医药生物、高端制造等"三创四新"行业，助力投资者配置中国科技 成长龙头。 创业50ETF（159682）跟踪创业板50指数，权重股包括宁德时代、东方财富、新易盛、中际旭创、胜宏 科技、汇川技术、阳光电源、天孚通信等。该ETF还配置了场外联接基金：联接A（017949）、联接C （017950）。 消息面上，据人民财讯，11月25日，创业板50ETF以存托凭证的形式在泰国证券交易所上市。据悉，这 是泰国上市的首只挂钩中国内地ETF的存托凭证，也是中国内地首只以存托凭证形式"出海"的ETF产 品。该产品成功上市，将为全球投资者共享中国科技创新发展成果提供更加便利的桥梁。 11月25日，三大指数早盘集体上涨。 相关ETF中，创业50ETF（159682）截至发稿涨超2.6%，成交额超1.73亿元。成分股中，胜宏科技涨超 7%，新易盛、中际旭创、蓝色光标、昆仑万维等股涨幅居前。 资金流向上，Wind金融终端数据显示，创业50ETF（159682）连续2日获资金净流入，累计"吸金"超 ...

Group 1 - The core viewpoint of the news highlights the significant impact of the U.S. stock market's rise in technology stocks on the A-share computing power sector, leading to substantial gains in related stocks and ETFs [1][3] - The launch of the "Genesis Mission" by the U.S. government aims to leverage AI to transform scientific research and accelerate discoveries, indicating a strong governmental push towards AI integration in various sectors [3] - The cloud computing ETF Huatai (159273) saw a notable increase of over 3%, with trading volume exceeding 20 million yuan, reflecting investor confidence in the sector [1][3] Group 2 - NVIDIA reported a record revenue of $57.006 billion for Q3 2025, marking a 22% quarter-over-quarter increase and a 62% year-over-year increase, showcasing the robust growth of the AI industry [5] - The demand for AI-related infrastructure is expected to drive significant revenue growth, with projections indicating that NVIDIA's Blackwell and Rubin products could generate $500 billion in revenue from early 2025 to the end of 2026 [5] - The introduction of Google's Gemini 3 and Nano Banana Pro AI models is anticipated to further enhance demand for computing power, as these models demonstrate superior capabilities in various applications [6] Group 3 - The demand for optical modules is projected to increase significantly, with estimates for 2025-2027 indicating a need for 50 million, 75 million, and 100 million units respectively, driven by AI training and inference network bandwidth requirements [8] - The overall AI demand is accelerating, with cloud computing revenues exceeding expectations, and indicators such as remaining performance obligations and backlog orders suggesting sustained long-term revenue growth [7][8] - The cloud computing ETF Huatai (159273) is positioned to capture the growth opportunities in the AI-driven computing power market, covering a wide range of sectors including hardware, cloud services, and data center operations [8]

A500ETF嘉实(159351)紧密跟踪中证A500指数，均衡布局各行业优质核心资产。 2025年11月25日，A股三大指数集体高开，截至10:14，中证A500指数强势上涨1.10%，成分股沪电股份 10cm涨停，深南电路上涨8.24%，生益科技上涨7.75%，菲利华、胜宏科技等个股跟涨。 没有股票账户的投资者可以通过A500ETF嘉实联接基金(022454)一键布局A股500强。 该机构认为，短期监管层对于稳定资本市场具备较强决心与行动部署。过去造成股市估值折价的因素已 有所消解，随着尾部风险下降以及人民币资产逐步企稳，中国资本市场处于估值回升和大发展的周期， 后续或仍有较大上行空间。中国权益相较于其他主要大类资产的风险回报比较高。 数据显示，截至2025年10月31日，中证A500指数前十大权重股分别为宁德时代、贵州茅台、中国平 安、招商银行、紫金矿业、中际旭创、美的集团、长江电力、新易盛、兴业银行，前十大权重股合计占 比19.36%。 国泰海通证券发布研报称，多重因素支持中国权益表现，维持对A/H股的战术性超配观点。全球风险偏 好大幅承压导致的资产波动叠加恐慌抛售使得微观交易风险大幅释放。随着十五五 ...

该指数前三大权重行业分别为通信设备（37.92%）、半导体（31.21%）、软件开发（9.29%），代 表了国内"硬科技"与"高成长"的先锋力量；前五大权重股依次为中际旭创、新易盛、寒武纪-U、澜起科 技、金山办公，均为具有广泛认知度和市场代表性的AI龙头。 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 华泰柏瑞、易方达、工银瑞信、永赢、景顺长城、鹏华和摩根资管等7家基金公司公告称，旗下科 创创业人工智能ETF将于11月28日开启发售。 科创创业人工智能ETF跟踪中证科创创业人工智能指数，该指数由科创板和创业板中50只高度聚焦 于AI技术研发、硬件支持，以及AI在各垂直领域商业化应用的龙头企业组成，业务广泛覆盖人工智能 基础资源、人工智能技术以及人工智能应用领域等AI上中下游产业链。 ...