Core Viewpoint - The stock market is experiencing a slow bull trend, with the Shanghai Composite Index breaking the 3674-point mark, reaching a new high since 2021, driven by sectors such as optical modules, optical communication, and optical chips [1] Group 1: Market Performance - The cloud computing ETF (159890) surged by 3.15% on August 13, with a trading volume of nearly 34 million yuan [1][2] - New Yi Sheng's stock rose nearly 14%, while China Great Wall and Zhongji Xuchuang increased by over 8%, and several other stocks in the sector also saw gains of over 3% [2] Group 2: Earnings Reports - New Yi Sheng's half-year earnings forecast for 2025 indicates a net profit of 3.7 billion to 4.2 billion yuan, representing a year-on-year growth of 327.68% to 385.47% [3] - The earnings reports from the cloud computing ETF's constituent stocks show significant growth, with Qianfang Technology's net profit increasing by over 10 times and Hengsheng Electronics by over 7 times [3][4] Group 3: Industry Outlook - The computing power sector is expected to remain a key market theme in the second half of the year, driven by increasing demand for AI hardware and applications [5] - Institutions are optimistic about the sustained growth of computing power demand driven by AI applications, with expectations of continued investment opportunities in the domestic computing power sector [6][7] Group 4: Investment Directions - Three main investment directions are highlighted: new hardware technologies, domestic production capabilities, and AI applications, which are expected to drive growth in the IoT device market [7] - The cloud computing ETF (159890) tracks the CSI Cloud Computing and Big Data Theme Index, covering 50 companies involved in cloud computing and related hardware, providing a low-cost investment option for investors [8]

8月13日，A股科技板块再度大涨，截至上午11点28分，汇聚光模块和AI算力龙头的通信设备指数涨 4.66%。成分股方面，光库科技上涨20%，新易盛涨超10%，中际旭创涨超8% 【行情解读：利好催化，光模块有望再度领涨】 第一，英伟达近日宣布H20销售恢复，进一步强化算力供给的确定性，推动国内互联网巨头在2025年下 半年加速AI基础设施布局，有望带动上游光模块的需求提升。 第二，在ChatGPT-5发布之后，市场对于Deepseek R2的预期更高，近日市场上突然传出，DeepSeek-R2 的预计发布时间窗口为2025年8月15日至8月30日，虽然该消息还尚未证实但依然点燃了市场需求。AI 需求是当前光模块龙头增长的核心驱动力，大模型的陆续推出 第三，部分光模块企业披露半年报业绩预告，新易盛、光迅科技和中际旭创等通信设备指数成分股上半 年利润增速超80%，叠加此前扩产动作，板块景气高企，未来有望实现盈利与股价双增。 风险提示：观点仅供参考，不构成投资建议，市场有风险，投资需谨慎。投资者在购买基金前应仔细阅 读基金招募说明书与基金合同，请根据自身投资目的、投资期限、投资经验等因素充分考虑自身的风险 承受能力 ...

8月13日，光模块CPO再度冲高，新易盛盘中涨超13%，创业板人工智能指数盘中一度涨5%。截至发 稿，同类费率最低的创业板人工智能ETF华夏（159381）盘中成交额超1.2亿元达近期新高，换手率达 65%位居同标的产品第一。 资料显示，创业板人工智能指数光模块权重超41%，前3大成分股囊括中际旭创（15.89%）、新易盛 （14.86%）、天孚通信（4.77%）三大光模块龙头。目前创业板人工智能ETF华夏（159381）年管理费 率为0.15%，托管费率为0.05%，场内综合费率在可比基金中最低。 消息面上，据智通财经，AI算力需求爆发，产业链高景气方向业绩持续释放。据Choice数据统计，截至 发稿，包括中际旭创、新易盛、华工科技、锐捷网络、光迅科技、星网锐捷、剑桥科技、光库科技、汇 绿生态在内的9家光模块上市公司披露上半年业绩预告。其中，新易盛上半年净利同比预增 328%-385%，锐捷网络上半年净利同比预增160%-232%。环比表现方面，星网锐捷、光库科技Q2环比 预增上限超3倍，具体来看，星网锐捷Q2净利环比预增227.34%-369.78%，光库科技Q2净利环比预 247.77%-303.74% ...

截至2025年8月13日 10:40，电网ETF(159320)上涨3.64%， 冲击4连涨。成分股新易盛涨超13%，杭钢股 份涨停，华峰铝业、太辰光跟涨。 电网ETF紧密跟踪恒生A股电网设备指数，恒生A股电网设备指数反映与电网设备相关的内地上市公司 之表现。 数据显示，截至2025年8月12日，恒生A股电网设备指数(HSCAUPG)前十大权重股分别为新易盛 (300502)、国电南瑞(600406)、特变电工(600089)、思源电气(002028)、中天科技(600522)、亨通光电 (600487)、宏发股份(600885)、东方电缆(603606)、太辰光(300570)、三星医疗(601567)，前十大权重股 合计占比56.25%。 消息面方面，恒生A股电网设备指数第一大权重股新易盛公告称，预计2025年1-6月归属于上市公司股 东的净利润盈利：370,000万元至420,000万元，同比上年增长：327.68%至385.47%。预计2025年1-6月扣 除非经常性损益后的净利润盈利：369,100万元至419,100万元，同比上年增长：326.84%至384.66%。 流动性方面，电网ETF盘中换 ...

13日早盘，资金拥抱AI牛市，光模块等AI硬件端持续逼空，光模块含量超41%的创业板人工智能继续上 涨创新高。截至发稿，新易盛大涨超14%再创上市新高，中际旭创、天孚通信猛涨超5%，光库科技斩 获两个20CM涨停，首都在线、长芯博创、太辰光、联特科技、铜牛信息等多股跟涨超3%。 从行情复盘来看，本轮AI行情以光模块为代表的上游算力硬件显著领涨，聚焦AI算力的创业板人工智 能近期频繁突破，年内以来累计上涨近35%，明显跑赢中证人工智能、CS人工智、科创AI等同类AI指 数。 热门ETF方面，同标的指数规模最大、流动性突出的创业板人工智能ETF（159363）场内涨幅持续扩大 超5%，大幅领跑同类AI主题ETF，实时成交额快速放量超3亿元。 中金指出，算力进入"二次抢筹"阶段，继续看好海外算力链投资。大模型行业领军者正通过技术迭代及 客户黏性，使得追赶者不得不进行"算力抢筹"来避免被时代淘汰。北美模型更新迭代+推理应用落地已 在当下模型代际上实现初步闭环，算力在后GPT-5时代依然为"硬通货"，继续看好海外算力产业链。 （文章来源：每日经济新闻） ...

Group 1 - The National Communication Index (399389) has shown a strong increase of 3.23%, with constituent stocks such as Guangku Technology (300620) hitting the daily limit up, and New Yisheng (300502) rising by 11.66% [1] - The Communication ETF Guangfa (159507) has reached a new high in scale at 45.36 million yuan, marking a significant increase in performance with a 65.18% rise in net value over the past year [1] - The top ten weighted stocks in the National Communication Index account for 61.8% of the index, with major players including Zhongji Xuchuang (300308) and New Yisheng (300502) [2] Group 2 - The global optical module sales increased by 10% quarter-on-quarter in Q2 2025, driven by the demand for 800G Ethernet optical modules, with a forecasted CAGR of 22% from 2024 to 2029 [2] - The communication and communication equipment industry is experiencing accelerated development driven by AI technology, with key variables including system integration capabilities and product engineering maturity [3] - The WAIC 2025 event showcased the transition of AI from technological breakthroughs to large-scale applications, indicating a growing trend in various vertical industries [3]

Group 1 - The Shanghai Composite Index has reached 3680 points, marking the highest level since December 2021 [1] - Sectors such as electronic chemicals, shipbuilding, non-ferrous metals, and power equipment have shown significant gains [1] - The AI ETF (515070) has seen substantial increases in its holdings, with New Yisheng rising over 14% and Zhongji Xuchuang increasing over 9% [1] Group 2 - The market size for consumer-grade AI hardware is expected to exceed 1.17 trillion yuan in 2024, with a year-on-year growth rate of approximately 10%, significantly higher than the overall social consumption growth rate of 3.4% [1] - The growth of AI+ product consumption hardware and scenarios is projected to continue exceeding 10%, with the market size anticipated to surpass 2.5 trillion yuan by 2030 [1] - Huaxin Securities indicates that the era of high-performance domestic AI has arrived, with advancements in domestic AI hardware capabilities [1] Group 3 - The mass production of domestic AI chips such as Ascend 384, Cambricon 690, Muxi Xi Cloud C600, and Suiruan Technology L600 is expected to drive further growth in the semiconductor sector [1] - The progress in upstream advanced processes, advanced packaging, and related semiconductor equipment materials is crucial for the development of domestic AI [1]

注：统计区间为2025.1.1-2025.8.12，创业板人工智能指数基日为2018.12.28，发布日期为2024.7.11。创 业板人工智能指数2020-2024年年度涨跌幅分别为：20.1%、17.57%、-34.52%、47.83%、38.44%，指数 成份股构成根据该指数编制规则适时调整，其回测历史业绩不预示指数未来表现。 把握算力+应用核心机会，建议重点关注全市场首只的创业板人工智能ETF华宝（159363）及场外联接 （A类023407、C类023408），标的指数约七成仓位布局算力，三成仓位布局AI应用，高效地捕捉AI主 题行情，并且重点布局光模块龙头"易中天"，兼顾IDC算力租赁、云计算等热门赛道。 13日早盘，资金拥抱AI牛市，光模块等AI硬件端持续逼空，光模块含量超41%的创业板人工智能继续上 涨创新高！截至发稿，新易盛大涨超14%再创上市新高，中际旭创、天孚通信猛涨超5%，光库科技斩 获两个20CM涨停，首都在线、长芯博创、太辰光、联特科技、铜牛信息等多股跟涨超3%。 热门ETF方面，同标的指数规模最大、流动性突出的创业板人工智能ETF（159363）场内涨幅持续扩大 超5%，大幅领跑 ...

Group 1 - The core viewpoint of the articles highlights the ongoing bullish trend in the AI hardware sector, particularly in optical modules, which have seen significant price increases and market interest [1][3] - The ChiNext AI index, which has over 41% optical module content, has reached new highs, with stocks like New Yisheng rising over 14% and others like Zhongji Xuchuang and Tianfu Communication increasing by over 5% [1] - The AI-themed ETF (159363) has outperformed its peers with a more than 5% increase and a rapid transaction volume exceeding 300 million yuan, indicating strong market liquidity [1][3] Group 2 - According to China International Capital Corporation (CICC), the computing power sector is entering a "second round of capital accumulation," with a focus on overseas investments in the computing power chain [3] - The latest analysis from GF Securities indicates that cloud service providers are experiencing a CapEx-ROI flywheel effect, leading to a favorable environment for the optical module industry [3] - The ChiNext AI index has accumulated a nearly 35% increase year-to-date, significantly outperforming other AI indices, showcasing the strong market performance of AI-related stocks [3][4] Group 3 - The first AI ETF tracking the ChiNext AI index has a portfolio consisting of approximately 70% in computing power and 30% in AI applications, effectively capturing the AI thematic market [6] - As of August 7, 2025, the ChiNext AI ETF has a scale exceeding 1.9 billion yuan, with an average daily transaction volume of over 150 million yuan, ranking first among six ETFs tracking the same index [6]

追求更高弹性可关注创业板人工智能ETF（159381），跟踪创业板人工智能指数，选取创业板上市 的AI主业公司，日内涨跌幅限制为±20%。指数光模块权重超41%，前3大成分股囊括中际旭创 （15.89%）、新易盛（14.86%）、天孚通信（4.77%）三大光模块龙头。目前创业板人工智能ETF华夏 （59381）年管理费率为0.15%，托管费率为0.05%，场内综合费率在可比基金中最低。 8月13日，A股延续上攻，沪指突破去年9月30日高点，盘面上看，光模块CPO延续强势，截至10点 04，AI算力占比高的5G通信ETF（515050）涨近3%，创业板人工智能ETF华夏（159381）涨超2%，二 者共有持仓股光库科技再度20cm涨停，新易盛、天孚通信、中际旭创纷纷走强。 国信证券表示，全球AI算力高景气度持续。需求侧，算力军备竞赛白热化，北美云厂资本开支继 续加大。供给侧，算力基础设施Q2业绩亮眼，技术迭代和产能扩张持续发力。新易盛、中际旭创等头 部光模块企业预告2025H1业绩高增。 拉长时间看，受益于AI算力旺盛需求和强业绩支撑，截至8月12日，5G通信ETF（515050）自4月7 日底部以来反弹超35 ...