芯片ETF（512760）过去三个交易日净流入近1亿元，行业季节性调整中AI与高性能计算驱动增长

Core Insights - The semiconductor industry is experiencing typical seasonal trends in Q1 2025, with electronic product sales declining by 16% quarter-on-quarter, but IC sales showing a significant year-on-year growth of 23%, indicating ongoing investments in AI and high-performance computing infrastructure [1] - Capital expenditures (CapEx) in the semiconductor sector have increased by 27% year-on-year, with memory-related CapEx soaring by 57% and non-memory CapEx rising by 15%, highlighting the industry's focus on innovation and resilience [1] - Wafer fab equipment (WFE) spending has grown by 19% year-on-year, and test equipment orders have surged by 56%, with packaging and testing equipment also achieving double-digit growth, driven by advanced packaging solutions [1] - The HBM4 technology is expected to see a premium increase exceeding 30% due to rising costs from increased I/O counts and complex designs [1] - Overall, the semiconductor industry is anticipated to undergo a comprehensive recovery in 2025, with an accelerated clearing and repair of the competitive landscape [1] Industry Index and ETF - The chip ETF (512760) tracks the China Semiconductor Chip Index (990001), which is compiled by China Securities Index Co., Ltd. This index selects listed companies from the Shanghai and Shenzhen markets involved in semiconductor materials, equipment, design, manufacturing, and packaging/testing to reflect the overall performance of China's semiconductor industry [1] - The index focuses on the development dynamics of various segments of the Chinese semiconductor industry chain, aiming to capture growth opportunities within the sector [1]