Ge Long Hui A P P·2025-12-22 08:48Core Viewpoint - The rapid development of China's chip technology is expected to lead to a "DeepSeek moment" around 2026 or 2027, potentially disrupting Nvidia and its supply chain [4] Group 1: Semiconductor ETFs Performance - The semiconductor equipment ETFs have shown significant daily gains, with the Semiconductor Equipment ETF rising by 4.93% and the Chip Equipment ETF by 4.92% [2] - Year-to-date performance for these ETFs indicates strong growth, with the Semiconductor Equipment ETF up 55% and the Chip Equipment ETF up 56% [2] Group 2: Market Trends and Projections - Chinese chip manufacturers are accelerating their IPOs to secure funding essential for achieving technological self-reliance and competing globally in AI [4] - The semiconductor equipment ETF tracks an index where over 90% of the components are from the equipment, materials, and integrated circuit design sectors [4] - Major holdings in the semiconductor equipment ETFs include leading companies such as Zhongwei Company, Northern Huachuang, and SMIC, which collectively account for nearly 80% of the index [4] Group 3: Investment Insights - According to招商证券, the domestic storage manufacturers are expected to continue expanding production, benefiting companies with strong market positions and high shares in storage equipment [5] - The equipment sector is currently in an upcycle, driven by increased demand for advanced processes due to AI, with a positive outlook for orders and production from leading equipment companies [5] - The trend towards self-sufficiency in the semiconductor supply chain in China is seen as a core theme with long-term investment value, supported by government policies and strong domestic demand [5]