Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-09-04 05:46Group 1 - The AI sector experienced a significant pullback on September 4, marking the largest single-day decline in the current AI bull market, with the ChiNext AI index dropping over 7% at one point [1] - Key stocks such as Zhongji Xuchuang, Tianfu Communication, and Xinyi Sheng fell over 10%, while Taichuang and other companies also saw declines exceeding 7% [1] - The leading AI ETF (159363) saw a drop of over 7% but later narrowed its losses, with investors taking the opportunity to increase their positions, accumulating over 1 billion yuan in the past five days [1] Group 2 - The first AI ETF on the ChiNext (159363) tracks the ChiNext AI index, with approximately 70% of its portfolio focused on computing power and 30% on AI applications, emphasizing leading companies in the optical module sector [2] - As of September 3, 2025, the latest scale of the ChiNext AI ETF reached over 5.1 billion yuan, setting a new record since its launch, with an average daily trading volume exceeding 700 million yuan over the past month [2] - The ETF ranks first among six ETFs tracking the ChiNext AI index in terms of scale and liquidity [2] Group 3 - Guosheng Securities anticipates that the current optical module market is just the beginning, as the industry transitions from rapid earnings growth to a critical phase of valuation enhancement [1] - Leading companies are moving from "earnings realization" to "value reassessment," with stock price drivers shifting from business performance to a combination of earnings and valuation [1] - The outlook for the industry remains positive, supported by three key factors: AI closed-loop systems, new fund inflows, and ongoing industry innovation [1]