创业板人工智能ETF配置价值分析

• The report focuses on the analysis of the ChiNext Artificial Intelligence ETF (159363.SZ), which tracks the ChiNext Artificial Intelligence Index (970070.CNI) [3][7] - The best convergent stock for the ChiNext Artificial Intelligence ETF during the period from January 1, 2025, to October 27, 2025, is Xiechuang Data (300857.SZ). The selection of the convergent stock considers the deviation of component stocks from the ChiNext Artificial Intelligence Index and research coverage [3][7] - Xiechuang Data entered a high-growth phase starting in 2023. Its valuation at the September 2023 stock price bottom was based on a 22x PE ratio, which was derived from the expected net profit for 2023. This valuation serves as the pricing basis for Xiechuang Data [3][7] - Under the 22x PE valuation, the expected fundamental value per share of Xiechuang Data for 2027 is 144.44 CNY, and the linearly extrapolated fundamental value per share for 2028 is 190.95 CNY. The highest stock price on September 29, 2025, was 185.9 CNY, which is close to the expected fundamental value for 2028. This suggests that the investment sentiment for the ChiNext Artificial Intelligence ETF is relatively high, and risk control is necessary [3][7]