通信ETF（515880）年内涨超128%居全市场第一，近10日净流入超15亿元，光模块占比近50%，规模同类第一

Group 1 - The communication ETF (515880) has increased over 128% year-to-date, ranking first in the market, with a net inflow of over 1.5 billion yuan in the last 10 days, and light modules accounting for nearly 50% of its composition [1] - Institutions indicate that the logic supporting overseas computing power is solid, with clear growth sustainability. Google's rise as a global AI giant, with its TPU and Gemini series models performing well, has no negative impact on A-share light modules and PCB sectors [1] - The demand for computing power is doubling every six months, driven by algorithm iterations and an increase in vendors, supporting the continued prosperity of the industry chain [1] Group 2 - As of December 15, the communication ETF has a light module content ratio exceeding 48% and server content over 20%, with core component ratios exceeding 76%, reflecting the fundamental strength of overseas computing power [1][2] - The communication ETF's scale is 14.517 billion yuan as of December 29, 2025, ranking first among 15 similar products [2]