Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2026-02-27 06:40Group 1 - The AI industry chain is showing a divergence in trends, with AI software and applications strengthening while previously strong computing power hardware is undergoing adjustments [1] - The domestic computing power demand in China is experiencing exponential growth, with Chinese model vendors leveraging rapid iteration and cost advantages to capture the global market [1] - From February 9 to 15, Chinese models surpassed U.S. models in API call volume for the first time, with 41.2 trillion tokens compared to 29.4 trillion tokens [1] Group 2 - The rapid increase in penetration rates of intelligent applications and the openness of intelligent capabilities are expected to drive non-linear growth in tokens, maintaining rigid capital expenditures [2] - The Huaxia Cloud Computing ETF (516630) focuses on domestic AI software and hardware, with a combined weight of computer software, cloud services, and computer equipment reaching 83.7% [2] - The on-site comprehensive fee rate for the Huaxia Cloud Computing ETF is only 0.20%, the lowest among similar products [2]