Dosilicon(SH:688110) Sou Hu Cai Jing·2026-01-27 05:18Core Viewpoint - The A-share market is experiencing fluctuations, but the sci-tech chip sector is showing resilience and strength, with significant capital inflow driven by "AI catalysis and independent innovation" [1][6]. Group 1: Market Performance - As of 11:01 on January 27, the sci-tech chip ETF Huatai (588750) rose by 2%, with over 220 million yuan net inflow for three consecutive days [1]. - Major component stocks of the sci-tech chip ETF saw significant gains, with Dongxin Co. hitting the daily limit, and other stocks like Chip Source Micro and Yuanjie Technology rising over 14% and 11% respectively [3][4]. Group 2: Industry Trends - The chip sector is receiving strong financial support, with the Shanghai three major leading industries mother fund announcing the selection of 17 sub-funds, including 4 for integrated circuits, totaling 22.89 billion yuan [6]. - The demand for storage chips is driven by AI, with a structural reconfiguration leading to price increases in high-end storage products like HBM and DDR5, expected to continue through 2026 [7]. - The demand for computing chips is surging as AI transitions from training to large-scale inference, resulting in a supply-demand imbalance across all categories of computing chips [8]. Group 3: Domestic Innovation and Market Opportunities - Domestic innovation and localization are accelerating in the chip industry, supported by top-level design and policy funding, creating a rapid growth window for domestic computing leaders [10]. - The domestic equipment procurement rate is projected to rise from approximately 18% in 2022 to around 30% by 2025, with potential growth to 60%-70% in the future [11]. - The sci-tech chip sector is positioned to benefit from both AI demand and domestic substitution, with the Huatai ETF focusing on core segments of the chip industry, showcasing higher growth potential and elasticity [12][14]. Group 4: Investment Insights - The Huatai sci-tech chip ETF is expected to show a net profit growth rate of 94% in the first three quarters of 2025, significantly outperforming peers [14]. - The ETF has demonstrated a maximum increase of 173% since September, indicating strong upward elasticity compared to other industry indices [15].