国产替代加速或成长期主线，芯片板块小幅回调，芯片ETF（512760）昨日净流入超5000万元

Core Viewpoint - The semiconductor sector is experiencing a mild correction, but there is significant inflow into semiconductor ETFs, indicating ongoing investor interest in the industry [1]. Group 1: Industry Developments - A seminar on semiconductor upstream and downstream enterprises was held on May 27 in Beijing, emphasizing the need to deepen economic and trade cooperation in the semiconductor field and maintain global supply chain stability [1]. - The electronic industry is in a phase of moderate recovery, with a notable surge in demand for AI inference markets. NVIDIA reported a 73% year-on-year increase in data center revenue for the first quarter, and AI inference token generation has surged tenfold in just one year [1]. - Domestic EDA (Electronic Design Automation) tools currently lack the capability to fully replace American products, but there is a long-term push towards domestic production [1]. - The domestic replacement in semiconductor equipment and materials is accelerating, with profits from specialized semiconductor device manufacturing increasing by 105.1% year-on-year from January to April [1]. Group 2: Investment Opportunities - The semiconductor ETF (code: 512760) tracks the China Semiconductor Chip (RMB) Index (code: 990001), which is compiled by China Securities Index Co., Ltd. This index reflects the overall performance of listed companies in the semiconductor materials, equipment, and design sectors in the A-share market [1]. - The index has a high industry concentration and growth characteristics, effectively reflecting the development trends of the domestic semiconductor industry chain [1]. - Investors without stock accounts can consider the Guotai CES Semiconductor Chip Industry ETF Connect C (008282) and A (008281) as alternative investment options [2].