布局“隐形冠军”的ETF来了

Core Insights - The article highlights the emergence of "hidden champions" in the industrial software sector, which, despite their smaller size and lower visibility, dominate specific niches with core technologies [1][2] - These companies are pivotal in driving the digital transformation of Chinese manufacturing, especially in the context of increasing domestic software independence [2][4] Industrial Software ETF Launch - The first industrial software ETF (159108) will be publicly offered from October 27, providing investors with a new tool to invest in "hidden champion" companies [3] - This ETF tracks the National Certificate Industrial Software Theme Index, covering the industrial software value chain [18] Market Dynamics and Policy Support - The current international environment has elevated the strategic importance of self-sufficient industrial software, with a gradual shift away from foreign monopolies [4][5] - The Ministry of Industry and Information Technology has set a target to complete approximately 2 million sets of industrial software updates by 2027, providing strong support for industry growth [6] Economic Indicators - Recent economic data indicates a gradual recovery in the manufacturing sector, with profits of large industrial enterprises reaching 46,929.7 billion yuan, a year-on-year increase of 0.9% [7] - The demand for industrial software is closely linked to the digital transformation of downstream manufacturing, with signs of improvement in the performance of industrial software companies [8] Performance Metrics - In the first half of 2025, the average revenue growth rate for industrial software index constituents rose to 2.15%, while net profit growth averaged 141.21% [9] - The industrial software index has shown strong historical performance, with a cumulative return of 251.95% since 2013, outperforming the China Securities Software Index [22][24] AI Integration and Innovation - The integration of artificial intelligence is revolutionizing the industrial software landscape, with a projected compound annual growth rate of 19% for the core industrial software market from 2024 to 2029 [13] - AI is enhancing software performance and changing business models, making subscription-based services more acceptable to users [13][15] Company Developments - Domestic software companies are transitioning from "usable" to "user-friendly," with significant improvements in product functionality and performance [15] - Mergers and acquisitions are becoming a key strategy for technological advancement, as seen with Huada Jiutian's acquisition of Chipda Technology and Chiphe Semiconductor [16] Investment Landscape - The ETF's composition includes a significant proportion of small to mid-cap stocks, with over 70% of the total market capitalization being below 50 billion yuan, which maintains growth potential while reducing concentration risk [19] - The top ten weighted stocks in the index account for 58% of the total weight, featuring companies like Huada Jiutian and Zhongwang Software, which are recognized as hidden champions [18][19]