云天励飞发布未来三年大算力芯片战略，国内算力有望进入新一轮周期

Group 1 - The Zhongzheng Information Technology Application Innovation Industry Index (300832) has decreased by 2.73%, with component stocks showing mixed performance [1] - The top gainers include Borui Data up by 6.74%, Geer Software up by 5.47%, and Yingshisheng up by 4.97%, while the biggest losers are Fanwei Network down by 9.99%, Zhuoyi Information down by 9.41%, and Foxit Software down by 7.44% [1] - The Xinchang ETF (562570) has dropped by 2.62%, with the latest price at 1.49 yuan, and has seen an active trading volume with a turnover of 10.4% and a transaction value of 44.996 million yuan [1] Group 2 - The Xinchang ETF has experienced a significant increase in shares, growing by 9 million shares over the past week, ranking in the top third among comparable funds [1] - The latest net inflow of funds into the Xinchang ETF is 605.38 million yuan, with a total net inflow of 15.7309 million yuan over the last five trading days, averaging 3.1462 million yuan per day [1] - Yuntian Lifei has announced its strategic layout for large-scale AI inference chips over the next three years, focusing on reducing the cost barriers for large model implementation, aiming for a 100-fold reduction in inference costs using the GPNPU architecture [1] Group 3 - Galaxy Securities anticipates that demand catalysts and intensive bidding will lead to a new cycle for domestic computing power [2] - The Nvidia H200 chip is expected to conditionally enter the Chinese market, which will benefit the development of domestic computing power chips and ecosystems in the long term [2] - The Xinchang ETF closely tracks the Zhongzheng Xinchang Index, emphasizing domestic full-stack substitution and integrating key areas such as storage chips, CPUs, and AIPC, while actively participating in the DeepSeek ecosystem (72%) and AI applications (58%) [2]