Xin Lang Ji Jin·2025-11-03 07:04Core Viewpoint - The electronic ETF (515260) is experiencing fluctuations, with a slight decrease in value, but there is optimism in the sector as evidenced by significant capital inflow and strong performance from many constituent stocks [1][3]. Market Performance - The electronic sector has a total market capitalization of 107.32 trillion yuan, leading all sectors and accounting for 12.42% of the total market, an increase of nearly 3 percentage points since the beginning of the year [3]. - As of October 31, 49 out of 50 constituent stocks of the electronic ETF have reported Q3 results, with 44 companies profitable and 40 showing year-on-year net profit growth [3]. Company Performance - Notable profit increases include: - Silan Micro's net profit increased 11 times year-on-year - Geke Micro, Shenghong Technology, Cambricon, and others reported net profit growth rates of 518%, 324%, 321%, and 265% respectively [3]. Investment Outlook - Galaxy Securities emphasizes that the technology sector will be a long-term investment focus, particularly in the electronic industry driven by AI and overall valuation improvements [3]. - The ETF is positioned to benefit from trends in semiconductor equipment and materials localization, as well as infrastructure investments driven by AI demand [3]. Sector Trends - Major tech companies like Google, Meta, Microsoft, and Amazon are increasing capital expenditures, indicating a sustained trend into the next year [4]. - The demand for AI-related products, particularly in the PCB sector, is surging, with many companies experiencing strong order growth and production capacity expansion [4]. Policy Support - There is strong governmental support for the semiconductor industry, aiming for self-sufficiency, while AI is reshaping consumer electronics, enhancing user experiences [5].