机构认为优秀企业高估值终将回归，科创半导体ETF（588170）午盘上涨

Group 1 - The Shanghai Stock Exchange's Sci-Tech Innovation Board semiconductor materials and equipment index rose by 0.44%, with notable increases in constituent stocks such as Tianyue Advanced (up 4.11%) and Huahai Chengke (up 3.05%) [1] - The Sci-Tech Semiconductor ETF (588170) saw a trading volume of 48.61 million yuan, with a turnover rate of 18.39%, indicating active market participation [1] - The latest scale of the Sci-Tech Semiconductor ETF reached 262 million yuan, marking a one-month high, with the number of shares also hitting a one-month high at 257 million [1] Group 2 - Shenzhen has launched measures to promote high-quality development in the semiconductor and integrated circuit industry, establishing a 50 billion yuan "Semi-Industry Private Equity Fund" focused on key areas such as materials, equipment, and chip design [2] - The fund will provide up to 30% R&D subsidies and support for land and talent introduction, aiming to build a globally competitive local semiconductor ecosystem by 2027 [2] - The AI industry investment is evolving, with a growth loop forming around model capability enhancement, demand explosion, and data feedback, driving fundamental upgrades in the industry [2] Group 3 - The Sci-Tech Semiconductor ETF (588170) tracks the semiconductor materials and equipment index, focusing on hard-tech companies in the semiconductor equipment (59%) and materials (25%) sectors [3] - The semiconductor equipment and materials industry is crucial for domestic substitution, characterized by low domestic replacement rates and high potential for domestic substitution, benefiting from the AI revolution and technological advancements [3]