指数基金产品研究系列报告之二百五十六：广发恒生港股通科技主题ETF：港股硬科技，从互联网到“AI+”

Report Industry Investment Rating No relevant content provided. Core Views of the Report - AI era drives transformation of internet giants, with Chinese internet giants leveraging user base and ecosystem for AI development [4]. - Investment value of Hong Kong stock technology sector rises in the AI wave, benefiting from industry trends, capital inflows, and policy support [4]. - The Hang Seng SCHK Technology Index focuses on core Hong Kong stock technology assets, with high concentration and purity, showing strong rebound elasticity and trend - following ability [4]. - The GF Hang Seng SCHK Technology Theme ETF closely tracks the index, aiming for minimal tracking deviation and error [4]. Summary by Directory 1. Core Evolution: Internet Giants' AI Transformation Path - Internet giants have a solid foundation for AI development, with large - scale user bases, rich data resources, and strong engineering capabilities [8]. - The evolution path of internet giants includes technology shift, business model upgrade, and increased resource investment [11]. 2. Investment Logic: Core Value of Hong Kong Stock Technology in the AI Era - Industry trend: The Hong Kong stock technology sector benefits from the high - rising global AI computing power industry chain and the urgent domestic demand for technological self - sufficiency [14]. - Capital support: Southbound funds have a net inflow of over one trillion yuan this year, providing liquidity support for the Hong Kong stock technology sector [15]. - Capital market: Policies and the capital market support new - quality productivity, and the growth potential of the SCHK technology index is worth attention [17]. - Domestic AI development: There are favorable conditions such as multi - dimensional model and application layout, but there are also challenges like a gap in high - end chips [20]. 3. Hang Seng SCHK Technology Index: Focus on Core Hong Kong Stock Technology Assets and Share New Economy Dividends - Index overview: It is a free - float market - capitalization - weighted index aiming to reflect the performance of Hong Kong listed technology - related companies eligible for the SCHK [28]. - Component stocks: They cover core technology industries, with a distinct technology - dominant style. The index has high sharpness and purity, and leading stocks play a significant role [32][38]. - Performance: Since its establishment, the index has had a small drawdown and can quickly recover. It has significantly outperformed similar indices since "924" [41][44]. - Leading component stocks' AI breakthroughs: Alibaba is increasing AI investment with ASI as the ultimate goal; Tencent's advertising is boosted by AI; Xiaomi's Q2 revenue and profit reached new highs [50][54][56]. 4. GF Hang Seng SCHK Technology Theme ETF (159262) - The ETF was established on June 26, 2025, and listed on July 7, 2025. Managed by Xia Haoyang, it has a management fee of 0.50% and a custody fee of 0.10%, aiming to closely track the Hang Seng SCHK Technology Index [57].