Cambricon(SH:688256) Xin Lang Cai Jing·2025-09-01 05:47Group 1 - The A-share market saw a strong performance on September 1, with major indices rising and technology stocks gaining momentum, particularly the Sci-Tech AI ETF (588790), which experienced a quick surge of over 2% before retreating, with a trading volume exceeding 500 million yuan [1] - As of August 29, the Sci-Tech AI ETF has accumulated a rise of over 71% year-to-date, with net inflows of over 1.6 billion yuan in the last five trading days [1] - The performance of the Sci-Tech Board AI index component stocks was mixed, with notable gains from companies like CloudWalk Technology (up over 3%) and declines from companies like Cambricon (down over 6%) [1] Group 2 - Goldman Sachs has a positive outlook on Cambricon, raising its 12-month target price by 14.7% to 2104 yuan, citing strong Q2 performance and increased AI chip shipments [2] - Alibaba's Q1 FY2025 report showed total revenue of 247.65 billion yuan (up 2% year-on-year), with net profit soaring by 76% to 42.38 billion yuan, focusing on "AI + Cloud" and consumer sectors [2] Group 3 - Huatai Securities indicates that the extension of tariff exemptions and expectations of Federal Reserve rate cuts may improve risk appetite, with a shift towards fundamentals expected in the medium term [3] - The TMT sector's trading volume has surpassed 40%, reflecting a high demand for capital allocation following rapid price increases [3] - Domestic computing power investments have surged, with hardware stocks like optical modules and servers seeing gains of over 100% since June [3] Group 4 - The Sci-Tech AI ETF (588790) and its linked funds are leading products in the market, with Cambricon as the largest weighted stock, benefiting from strong policy support for domestic chip penetration [4] - Investors can use this ETF to gain exposure to the entire AI industry chain, including hardware, models, and applications [4]