20cm速递|科创芯片ETF国泰（589100）小幅回调，半导体行业处于新一轮上行初期

Core Viewpoint - The semiconductor industry is expected to benefit from a global semiconductor cycle upturn by 2026, driven by AI computing power demand, which will sustain the growth of GPU, HBM, and advanced packaging sectors [1] Industry Summary - The semiconductor industry is entering a new upturn phase starting from the end of 2023, with potential to shift from "repair expectations" to "prosperity verification" due to policy support, technological breakthroughs, and structural demand from downstream sectors [1] - The "technology innovation" sector has proposed "extraordinary" efforts for integrated circuits, further strengthening the long-term development logic of the industry [1] Company Summary - The Guotai ETF (589100) tracks the Sci-Tech Chip Index (000685), which saw a daily fluctuation of 20%. This index selects listed companies from the Sci-Tech board that are involved in the entire semiconductor industry chain, including materials, equipment, design, manufacturing, and packaging testing [1] - The Sci-Tech Chip Index focuses on high-growth areas and exhibits significant elasticity and volatility, making it suitable for investors with a higher risk tolerance seeking excess returns [1]