Cambricon(SH:688256) Jin Rong Jie·2026-01-08 02:46Core Viewpoint - The domestic AI industry chain is experiencing significant growth, as evidenced by the performance of the Huabao AI ETF, which has shown a strong upward trend in recent trading days [1][6]. Group 1: ETF Performance - The Huabao AI ETF (589520) saw an intraday increase of 1.91%, currently up 1.43%, and has been above all moving averages [1]. - Over the past 15 trading days, the ETF has risen on 10 occasions, indicating a potential "upward staircase" pattern [1]. Group 2: Component Stocks - Key stocks within the ETF include: - Chipone Technology, leading with a rise of 6.08% [4]. - Cambricon Technologies, up by 5.38% [4]. - Other notable gainers include Amlogic, Yuntian Lifei, and Sikan Technology, each rising over 3% [3][4]. Group 3: Policy and Market Outlook - On January 7, the Ministry of Industry and Information Technology and seven other departments issued a directive to promote the application of AI in manufacturing, aiming to develop 3 to 5 general large models by 2027 [5]. - The directive includes creating 100 high-quality datasets and promoting 500 typical application scenarios in the industrial sector [5]. - According to Frost & Sullivan, the Chinese AI chip market is projected to grow from 142.54 billion yuan in 2024 to 1,336.79 billion yuan by 2029, with a compound annual growth rate of 53.7% from 2025 to 2029 [5]. Group 4: Industry Insights - Industry experts emphasize that AI's primary application is currently in AIGC (Artificial Intelligence Generated Content), with a shift towards manufacturing necessary for AI to be recognized as a true productivity tool [5]. - The demand for AI computing power is driving rapid growth in the AI chip sector, with companies like Huawei and Cambricon accelerating domestic chip replacements [5]. - The Huabao AI ETF focuses on the domestic AI industry chain, with over 70% of its top ten holdings in semiconductor-related sectors, indicating a strong offensive strategy [6].