Xin Lang Ji Jin·2025-09-15 06:35Core Viewpoint - The semiconductor industry chain is experiencing a strong rally in the A-share market, driven by recent news regarding U.S. sanctions on Chinese companies, particularly in the semiconductor sector [1] Group 1: Market Reaction and Performance - On September 15, the China-Korea Semiconductor ETF (513310) saw significant trading activity, with a transaction volume exceeding 3.3 billion yuan by 13:40 [1] - The average daily trading volume of the ETF in September has surpassed 2.8 billion yuan, a substantial increase compared to the average of 575 million yuan from early 2025 to the end of August [1] - The ETF's scale has grown over 70% in the past month, reaching approximately 994 million yuan, nearing the 1 billion yuan mark [1] Group 2: ETF Composition and Valuation - The China-Korea Semiconductor ETF tracks the China-Korea Semiconductor Index, selecting 15 leading companies in semiconductor design, manufacturing, application, and equipment production from both countries [1] - As of the end of Q2 2025, the top five constituents of the index include SK Hynix, Samsung, SMIC, Northern Huachuang, and Haiguang Information [1] - The current valuation of the China-Korea Semiconductor Index is at 16.5 times earnings, which is significantly lower than the historical median of 55.70% since its inception, indicating potential for valuation recovery [1] Group 3: Industry Outlook - The U.S. sanctions on Chinese semiconductor companies may lead to an acceleration in domestic substitution within China's AI and semiconductor industries [1] - The China-Korea Semiconductor ETF is positioned to capture growth opportunities in the semiconductor sector, which is critical for the electronic information industry and is expected to benefit from the global competition in high-end computing chips [2] - The ETF is managed by Huatai-PB Fund, a leading ETF manager in China with over 18 years of experience, and has a total ETF scale exceeding 560 billion yuan as of September 12, 2025 [1]