Venture(US:VEMLY) Xin Lang Cai Jing·2026-01-20 01:20Market Overview - The ChiNext AI sector experienced fluctuations and corrections, with funds continuing to buy on dips. Most constituent stocks declined, with notable gainers including Hangyu Micro up over 6% and BlueFocus up over 3%. Conversely, Ruijie Networks led the decline, falling over 10% [1][8]. - The ChiNext AI ETF (159363) saw a slight decline of 1.56%, retreating to the 10-day moving average, with a trading volume of 868 million yuan. After a significant inflow of nearly 1.7 billion yuan in the previous week, the fund recorded a net inflow of 347 million yuan over six consecutive days, totaling over 2 billion yuan [1][8]. Fund Performance - The ChiNext AI ETF managed by Huabao reached a new high in scale, totaling 6.164 billion yuan as of January 19, with an average daily trading volume of nearly 800 million yuan over the past six months, leading among the eight ETFs tracking the ChiNext AI index [4][12]. - The fund manager indicated that short-term corrections do not alter the strong performance expectations for the A-share market in the first half of the year, suggesting that performance stocks in the optical module sector may become a focal point for market consolidation during this period [5][10]. Sector Insights - From a funding allocation perspective, the optical module sector is expected to attract attention due to positive earnings forecasts. The market is anticipated to undergo structural adjustments as companies begin to disclose their annual reports, with performance becoming a key driver of market dynamics [3][10]. - The AI application sector has emerged as a leading theme for 2026, with a year-to-date increase of 19%, making it the top performer in the A-share market. The ongoing trend of AI applications accelerating towards commercialization is expected to continue, supported by China's advantages in application deployment and user scale [11][13]. Investment Strategy - The ChiNext AI ETF is strategically positioned with approximately 60% of its portfolio in computing power (primarily optical modules) and about 40% in AI applications, reflecting a balanced approach to both sectors [13].