Group 1 - Tianfu Communication is a global leader in optical devices and optical engine solutions, focusing on optical communication, data centers, and AI computing interconnection, with core products including passive and active optical devices and high-speed optical engines [1][34] - The company is deeply integrated with NVIDIA's ecosystem, providing key optical communication components and is one of the core suppliers for NVIDIA's computing network construction [1][34] - As NVIDIA's AI server and data center business grow rapidly, Tianfu Communication's orders for optical engines and high-speed optical devices remain robust, indicating significant performance elasticity [1][34] Group 2 - Shenghong Technology is a core supplier of AI server PCBs in China, focusing on the R&D, production, and sales of high-end printed circuit boards, with a strong technical advantage in high-speed and high-density PCBs [2][36] - The company provides critical PCB boards for NVIDIA's AI servers, benefiting from the continuous growth in NVIDIA's server shipments, leading to a strong increase in high-end PCB orders [2][36] - Shenghong Technology's market share in the AI server and data center PCB market is expected to continue rising, with long-term growth potential [2][36] Group 3 - Inspur Information is a leading AI server enterprise in China, covering AI servers, cloud computing, big data, and edge computing, and is a core partner of NVIDIA in developing AIStation and other computing platforms [3][37] - The company benefits from the explosive global demand for AI computing and the acceleration of domestic computing infrastructure, with a high order volume for AI servers and sustained high capacity utilization [3][37] - Inspur Information's market position and technical accumulation in the AI server field allow it to share in the growth of the AI industry [3][37] Group 4 - Unisplendour is a leading digital infrastructure provider in China, covering network equipment, cloud computing, big data, and information security, with its subsidiary being a core agent for NVIDIA's data center GPU and DGX systems [4][38] - The company leverages NVIDIA's technological advantages to provide AI computing solutions and related products to enterprise clients, with revenue from agency business and related solutions continuously increasing [4][38] - Unisplendour's competitiveness in AI computing solutions is expected to strengthen, benefiting from the global AI industry development and domestic digital transformation [4][38] Group 5 - Desay SV is a leading provider of intelligent driving solutions in China, focusing on smart cockpits, intelligent driving, and vehicle networking, and collaborates with NVIDIA to develop a powerful autonomous driving system based on the Orin chip [5][39] - The company experiences strong order growth for its autonomous driving solutions based on NVIDIA's Orin chip, indicating strong performance growth certainty [5][39] - Desay SV's position in NVIDIA's autonomous driving ecosystem is expected to strengthen, benefiting from the global development of the autonomous driving industry [5][39] Group 6 - Jingwang Electronics is a leading PCB and FPC manufacturer in China, with a focus on printed circuit boards, flexible circuit boards, and metal-based circuit boards, and is on NVIDIA's qualified supplier list [6][40] - The company has achieved bulk supply to customers and is steadily advancing product development and validation processes for AI servers [6][40] - Jingwang Electronics' market share in the AI server and data center PCB market is expected to continue rising, benefiting from the explosive growth of global AI computing infrastructure [6][40] Group 7 - Perfect World is a leading comprehensive entertainment company in China, covering online game development and distribution, and film production and distribution, actively collaborating with NVIDIA in AI technology and applications [8][42] - The company utilizes NVIDIA's Omniverse Audio2Face application, ACE platform, ray tracing, and DLSS technologies to enhance game development efficiency and product performance [8][42] - Perfect World's early advantage in the AI game application field is expected to strengthen as AI technology continues to integrate with the gaming industry [8][42] Group 8 - Wentai Technology is a leading semiconductor and smart terminal solution provider, covering semiconductor IDM, optical modules, and smart terminal design and manufacturing, with NVIDIA as a close partner [9][43] - The company is poised to expand its collaboration with NVIDIA, providing more AI-related supporting products as AI technology deepens in smart terminals and servers [9][43] - Wentai Technology's comprehensive layout in the semiconductor and smart terminal fields positions it well to benefit from the growth of the AI industry [9][43] Group 9 - OmniVision Technologies is a global leader in semiconductor image sensor solutions, covering CMOS image sensors and analog and mixed-signal processing [10][44] - The company's TheiaCel™DCG+LOFIC solution supports NVIDIA's products and solutions, with applications in image recognition and autonomous driving [10][44] - OmniVision's position in NVIDIA's AI ecosystem is expected to strengthen, benefiting from the explosive growth of the AI industry and image recognition technology applications [10][44] Group 10 - GDT is a leading financial technology and smart terminal solution provider in China, covering smart finance, public safety, transportation, and government services [11][45] - The company participates in AI computing solution implementation and promotion, providing AI computing services and application solutions based on NVIDIA technology [11][45] - GDT's strong accumulation in the financial technology field positions it well to benefit from the growing demand for AI applications [11][45] Group 11 - GAC Group is a comprehensive automotive manufacturing leader, covering the R&D, manufacturing, sales, and service of passenger and commercial vehicles [12][46] - The company collaborates with NVIDIA to produce L4 autonomous vehicles, enhancing its core competitiveness in the intelligent driving sector [12][46] - GAC Group's technological layout and product implementation in autonomous driving are expected to accelerate, supported by its partnership with NVIDIA [12][46] Group 12 - Digital China is a leading digital transformation solution provider in China, covering cloud computing, big data, network security, and IT distribution [14][47] - The company provides AI computing infrastructure and application solutions to clients in finance, manufacturing, and healthcare, leveraging NVIDIA's GPU technology [14][47] - Digital China's comprehensive service capability in AI computing solutions is expected to drive rapid growth in its AI-related business [14][47] Group 13 - Leadcore Technology is a leading provider of intelligent operating system products and technologies, covering intelligent driving, IoT, and intelligent vision [15][48] - The company has obtained authorization for image quality tuning from NVIDIA, participating in the R&D and product implementation of intelligent driving and edge computing [15][48] - Leadcore's position in NVIDIA's ecosystem is expected to strengthen, benefiting from the rapid development of intelligent driving and edge computing industries [15][48] Group 14 - Linyang Electronics is a leading provider of precision structural components and metal forming solutions, covering precision stamping parts and smart terminal structural components [20][54] - The company is a distributor of NVIDIA DGX AI Compute Systems, providing enterprise clients with NVIDIA AI servers and related solutions [20][54] - Linyang Electronics' strong position in the AI server distribution market is expected to drive rapid growth in its AI-related business [20][54] Group 15 - Aoyang Technology is a leading manufacturer of power semiconductor devices, covering MOSFETs, diodes, and IGBTs, with applications in automotive electronics and industrial control [21][55] - The company's power semiconductor products are used in NVIDIA-related products, providing critical power management support for AI servers and smart terminals [21][55] - Aoyang Technology's competitive position in the AI hardware power management market is expected to strengthen as global AI computing infrastructure develops [21][55] Group 16 - Beidou Star is a leading satellite navigation and positioning service provider in China, covering Beidou navigation chips, modules, antennas, and positioning service solutions [22][56] - The company collaborates with NVIDIA to provide AI solutions based on precise positioning for smart driving and smart city applications [22][56] - Beidou Star's position in NVIDIA's ecosystem is expected to strengthen, benefiting from the rapid development of smart driving and smart city industries [22][56] Group 17 - Advanced Data Communication is a leading financial technology and big data solution provider in China, covering financial IT, big data, and cloud computing [23][57] - The company is an elite partner in NVIDIA's AI and Compute business, providing AI computing solutions and technical services to clients in finance and government [23][57] - Advanced Data Communication's strong accumulation in the financial technology field positions it well to benefit from the growing demand for AI applications [23][57] Group 18 - Zhongdian Port is a leading electronic component distribution and supply chain service provider in China, covering electronic component distribution and supply chain management [24][58] - The company is an authorized distributor of NVIDIA, providing enterprise clients with NVIDIA AI chips and related solutions [24][58] - Zhongdian Port's comprehensive service capability in AI chip distribution is expected to drive rapid growth in its AI-related business [24][58] Group 19 - Magpower is a leading provider of smart home and industrial control solutions in China, covering smart home controllers and industrial power supplies [25][59] - The company is one of NVIDIA's designated data center component providers, offering innovative power solutions for AI data centers [25][59] - Magpower's strong position in the AI data center power market is expected to benefit from the growing demand for AI data center construction [25][59] Group 20 - Zhiwei Intelligent is a leading provider of intelligent hardware and edge computing solutions in China, covering edge computing gateways and industrial control computers [32][60] - The company is a member of NVIDIA's NPN partner network, launching powerful edge computing products based on NVIDIA Jetson Orin modules [32][60] - Zhiwei Intelligent's competitive position in the AI edge computing market is expected to strengthen as demand for edge AI applications continues to grow [32][60]

Group 1 - Company iFLYTEK is a leading player in the domestic AI sector, possessing its own Spark cognitive model with capabilities in code generation, intelligent development, research Q&A, and automated testing, and maintains a long-term deep cooperation with Huawei Cloud [1] - The model can efficiently collaborate with Huawei Cloud's CodeArts to provide AI-assisted development services across various industries including finance, government, education, industry, and healthcare [1] - The demand for enterprise-level AI coding is surging, leading to accelerated deployment in low-code development platforms, intelligent programming assistants, and industry digital solutions, with a robust income structure and growth potential [1] Group 2 - China Software is the absolute leader in the domestic software and Xinchuang industry, focusing on operating systems, databases, middleware, industry solutions, and major digital engineering services, with deep ecological binding with Huawei in various fields [2] - The comprehensive promotion of CodeArts will significantly enhance the company's software development efficiency, system iteration speed, and project delivery quality, effectively reducing R&D costs [2] - The company’s business deeply covers high-barrier industries such as finance, energy, transportation, government, and national defense, benefiting from dual dividends of policy support and industry demand [2] Group 3 - Yonyou Network is a leading vendor in the domestic enterprise cloud services and ERP sector, establishing long-term strategic cooperation with Huawei Cloud in hybrid cloud deployment, industrial internet, and digital transformation [3] - The self-developed enterprise-level AI model is fully integrated into Yonyou's BIP intelligent business platform, enhancing application development efficiency and driving high-quality growth in cloud service subscription revenue [3] - The company’s client base includes large and medium-sized enterprises, specialized and innovative companies, and growing SMEs, with increasing penetration in various industries [3] Group 4 - Oriental Guxin specializes in big data platforms, cloud computing services, industrial internet, and industry digital solutions, maintaining stable cooperation with Huawei in several areas [4] - The company provides integrated services in intelligent development, system integration, and data middle platform construction, with high business barriers and strong customer stickiness [4] - The AI coding tools' widespread adoption will significantly improve efficiency in large digital project delivery and core system iteration [4] Group 5 - Runhe Software is a core ecological co-builder of Huawei's open-source Harmony and Euler operating systems, participating deeply in ecological construction and adaptation development [5] - The company collaborates closely with Huawei Cloud in AI development tools, low-code platforms, and industry solutions, significantly enhancing application development and project delivery efficiency [5] - The widespread adoption of AI coding tools will effectively shorten project cycles, reduce R&D costs, and improve product stability [5] Group 6 - Digital China is a leading cloud management service and digital solution provider, deeply involved in Huawei's cloud ecosystem, offering a range of services including application development and digital transformation [6] - The company benefits from the growing demand for cloud management services and system integration as AI coding tools become prevalent in the enterprise sector [6] - Its comprehensive competitiveness continues to strengthen in various fields including digital government, intelligent manufacturing, and financial technology [6] Group 7 - Huasheng Tiancheng is a certified excellent ISV partner of Huawei, focusing on cloud computing, big data, and AI solutions, with deep collaboration in various areas [7] - The company’s products can seamlessly integrate with Huawei Cloud's CodeArts, expanding AI development service scenarios [7] - The widespread adoption of AI coding tools will significantly enhance delivery efficiency and product quality across key industries [7] Group 8 - Changshan Beiming, through its subsidiary Beiming Software, is a key ISV partner of Huawei, focusing on smart city, industrial internet, and financial technology [8] - The company collaborates deeply with Huawei Cloud in application development and data governance, with CodeArts enhancing software development efficiency [8] - The adoption of AI development tools will effectively reduce R&D costs and enhance product competitiveness [8] Group 9 - Tuo Wei Information is a strategic partner of Huawei across multiple core ecosystems, focusing on AI infrastructure and digital solutions [9] - The company provides AI development and digital services across various sectors, significantly improving code production efficiency [9] - The demand for AI coding in the enterprise sector continues to rise, leading to sustained business growth [9] Group 10 - Hand Information is a core partner of Huawei Cloud, focusing on enterprise digital transformation and ERP implementation services [10] - The company’s AI coding tools significantly enhance application development and system optimization efficiency [10] - The widespread promotion of CodeArts will open up long-term growth opportunities in enterprise digitalization and AI development services [10] Group 11 - Softcom Power is a leading software and digital technology service provider, deeply cooperating with Huawei Cloud to create intelligent solutions [11] - The company benefits from the widespread adoption of AI development tools, enhancing project delivery efficiency and order acquisition capabilities [11] - Its client base includes high-quality projects in finance, internet, and intelligent manufacturing [11] Group 12 - Donghua Software is a comprehensive industry solution provider, maintaining long-term cooperation with Huawei in various fields [12] - The company’s collaboration with Huawei Cloud enhances software development efficiency and project delivery quality [12] - The adoption of AI coding tools will further strengthen the company’s competitive position in the digital economy [12] Group 13 - Qiming Star is a leading enterprise in the network security sector, collaborating with Huawei in various security areas [13] - The company’s products are increasingly penetrating high-security demand industries, benefiting from the AI and security development model [13] - The demand for automated security operations and compliance code development is rapidly growing [13] Group 14 - SuperMap Software is a leading GIS platform provider, collaborating with Huawei in various fields [14] - The company’s GIS platform software is fully compatible with Huawei Cloud, enhancing industry application development efficiency [14] - The adoption of AI coding tools will accelerate the integration of GIS and AI applications [14] Group 15 - Baoxin Software is a dual leader in industrial software and IDC computing services, deeply cooperating with Huawei in various areas [15] - The company’s AI coding tools significantly enhance the efficiency and stability of industrial software development [15] - The company benefits from the growing demand for industrial AI and digital transformation [15] Group 16 - Unisplendour is a leading player in the ICT infrastructure sector, maintaining a competitive ecological partnership with Huawei [16] - The company provides integrated solutions in computing hardware, cloud platforms, and industry digital solutions [16] - The demand for AI and cloud computing is expected to drive sustained growth in the company’s performance [16] Group 17 - Shiji Information is a leader in hotel information and tourism digitalization, collaborating with Huawei in various areas [17] - The company’s AI technology enhances the efficiency of industry application development and system iteration [17] - The demand for intelligent systems in the tourism sector is expected to continue growing [17] Group 18 - Weining Health is a leader in the medical information sector, collaborating with Huawei to promote digital and intelligent upgrades [18] - The company’s products are widely used in various healthcare settings, benefiting from the growing demand for medical digitalization [18] - The adoption of AI coding tools will enhance the efficiency of medical software development [18] Group 19 - Hengsheng Electronics is a leader in financial IT, deeply cooperating with Huawei in various financial technology areas [19] - The company’s collaboration with Huawei enhances the efficiency of financial core system development [19] - The adoption of AI development tools is expected to strengthen the company’s position in the financial IT sector [19]

（编辑 袁冠琳） 证券日报网讯 2月26日，紫光股份在互动平台回答投资者提问时表示，卫星互联网是6G的重要组成部 分，作为国内主流卫星运营商的战略合作伙伴，公司充分发挥在ICT基础设施和智算领域的软硬件优 势，为6G网络提供一站式ICT服务。目前公司参与了包括交换机、安全防火墙、通算服务器等在内的 ICT软硬件服务项目，并已规模交付使用，同时还承建了一系列的云池系统建设。在商业航天方面，公 司始终高度关注国家战略发展需求及前沿技术演进，将持续结合市场需求和政策导向，依托自身在通信 和安全方面的技术优势和积累，在符合整体战略的方向上主动审慎布局，为高质量发展创造多元价值， 具体规划请以公司官方披露的信息为准。 ...

或由于英伟达亮眼财报，粉碎海外AI泡沫担忧，今日（2月26日）重点布局国产算力（IDC、服务器）、国产AI应用领域的大数据ETF华宝（516700）场内 涨幅盘中上探2.27%，现涨2%，上交所数据显示，该ETF此前3日连续吸金近900万元，反映资金看好大数据方向后市表现，逐步进场布局！ | 序号 | 名称 | 涨跌幅 | 两日图 | 申万一级行业 | 甲万二级行业 | 田方三级行业 | 总市值 | 成交额 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 润泽科技 | 18.56% | | 通信 | 通信服务 | 通信应用增值服务 | 1682 Z | 107.30亿 | | 2 | 奥飞数据 | 11.57% | | 通信 | 通信服务 | 通信应用增值服务 | 257亿 | 32.02亿 | | 3 | 云大励飞-U | 9.63% | | 计算机 | IT服务Ⅱ | IT服务Ⅲ | 334亿 | 14.97亿 | | 4 | 光环新网 | 7.16% | | 通信 | 通信服务 | 通信应用增值服务 | 299亿 | 28. ...

【金融街证券ETF研究】证券研究报告 · 基金研究 | 2026/2/25 ● 铜连接/线缆 一交换机 CPO光模块 · 源杰科技/新易盛 · 华丰科技 /瑞可达 · 紫光股份 / 锐捷网络 · 中际旭创 / 光迅科技 · 宝胜股份 / 鼎通科技 · 星网锐捷 / 菲菱科思 · 天孚通信 / 太辰光 · 沃尔核材 / 金田股份 · 共进股份 · 德科立 / 长芯博创 · 兆龙互联 / 神宇股份 数据来源:Wind数据库,金融街证券研究所梳理 重点 注ETF标的清单 分析师:张一 S0670524030001|张宁 S0670524090001|刘艳平 S0670512050002| 余闵华 S0670524050001 |周晟昂 S0670525050001 | 陈阳 S0670525120001 | 蔡萌萌 S0670524110001 | 徐娜 S0670524020001 "十五五"规划一人工智能(网络设施) · 技术概况: 人工智能(ArtificialIntelligence,Al)是研究、开发 用于模拟、延伸和扩展人类智能的理论、方法、技术及应用系统的一 门技术科学,其核心在于通过计算机系统模拟人 ...

【金融街证券ETF研究】证券研究报告 · 基金研究 | 2026/2/25 分析师:张一 S0670524030001 | 张宁 S0670524090001 | 刘艳平 S0670512050002 | 余闵华 S0670524050001 |周晟昂 S0670525050001 | 陈阳 S0670525120001 | 蔡萌萌 S0670524110001 | 徐娜 S0670524020001 "十五五"规划—人工智能(算力) 技术概况: 人工智能(ArtificialIntelligence,Al)是研究、开发 用于模拟、延伸和扩展人类智能的理论、方法、技术及应用系统的 一门技术科学,其核心在于通过计算机系统模拟人类智能,应用领 域涵盖机器人、语言识别、图像处理、智能决策等等。 2 筛选逻辑:以人工智能(AI)算力相关硬件上游、硬件、服务器等 产业链环节核心股票池为基础,通过基准指数权重穿透方法,计算 各ETF基准指数持股权重,保留权重较高的指数和ETF产品。 人工智能一算力产业链公司 一 服务器 9 硬件上游 算坑 · 德福科技 /菲利华 · 浪潮信息 / 紫光股份 产业能 · 工业富联 / 中兴 ...

（文章来源：每日经济新闻） 国泰海通认为："春季躁动"行情有望在节后继续演绎，整体节奏偏顺畅且具备韧性。全球资本对中国市 场持乐观态度，A50指指期货的上涨提供了正面指引。当前国内基本面、政策面与流动性环境均处于积 极窗口，若遇短期回调则是再布局的良机。策略上采取"周期红利为盾，科技成长为矛"的平衡布局：一 方面，利用有色、化工、建材等顺周期板块的现金流与分红能力对冲波动；另一方面，通过AI应用、 机器人、半导体ETF等高弹性品种博取超额收益，期待节后资金重振旗鼓带动量价共振。 人工智能AIETF（515070）跟踪CS人工智能主题指数（930713），成分股选取为人工智能提供技术、 基础资源以及应用端个股，聚集人工智能产业链上中游，俗称"机器人"大脑"缔造者"，万物互联"地 基"。前十大权重股包括中际旭创、新易盛、寒武纪-U、中科曙光、科大讯飞、豪威集团、海康威视、 澜起科技、金山办公、紫光股份等国内科技龙头。 午后算力租赁概念涨势扩大，人工智能AIETF（515070）持仓股润泽科技20cm涨停，此前中贝通信、 华胜天成、智微智能涨停，奥飞数据、迈信林涨超10%，光环新网、恒润股份、宏景科技、润建股份等 ...

相关产品：人工智能AIETF（515070）、华夏中证人工智能主题ETF联接A（008585）、华夏中证 人工智能主题ETF联接C（008586） 每日经济新闻 今日A股开盘后人工智能AIETF（515070）震荡为主。截至10:25，人工智能AIETF（515070）跌 0.05%，持仓股星宸科技涨超13%，润泽科技涨超10%，光迅科技、光环新网等个股上涨明显。人工智 能AIETF（515070）成交额突破9000万元。 消息方面，2月25日，Kimi母公司北京月之暗面科技有限公司完成总额超7亿美元的新一轮融资， 由阿里、腾讯等互联网巨头领投，融资后公司估值升至100亿至120亿美元，刷新中国大模型独角兽估值 纪录。Kimi K2.5模型发布不到20天，收入已超过公司2025年全年总和，凭借长文本处理优势与高用户 黏性，月之暗面创下国内AI独角兽最快成长速度。 中邮证券分析指出，中国AI大模型进入产品成熟期，低成本高性能技术为市场增长提供支撑，多 模态模型拓展应用场景，厂商完善产品矩阵降低接入成本。企业AI需求从概念验证转向规模化落地， 带动MaaS及大模型解决方案进入结构性放量周期。 人工智能AIETF（ ...

人工智能AIETF（515070）跟踪CS人工智能主题指数（930713），成分股选取为人工智能提供技术、 基础资源以及应用端个股，聚集人工智能产业链上中游，俗称"机器人"大脑"缔造者"，万物互联"地 基"。前十大权重股包括中际旭创、新易盛、寒武纪-U、中科曙光、科大讯飞、豪威集团、海康威视、 澜起科技、金山办公、紫光股份等国内科技龙头。 随着周四凌晨英伟达财报发布，AI硬件震荡走强，光模块等纷纷回暖，人工智能AIETF（515070）持仓 股新易盛涨超3%，合合信息、北京君正、星宸科技等个股上涨明显，人工智能AIETF盘中震荡，成交 额突破1.2亿元。 （文章来源：每日经济新闻） 消息方面，Anthropic发布了Claude Sonnet 4.6模型，新模型在编程、Agent规划和计算机使用等办公场景 性能显著提升，拥有100万token的上下文窗口，能以一次调用重构整个代码库。模型能力正从"通 用"向"专业场景深度优化"演进。该模型通过超大上下文窗口，能一次性处理极长代码库或文档，专为 程序员、数据分析师等知识工作者设计，旨在成为终极生产力工具。 中信建投认为：春节后至两会前是传统的"春季行情"高胜率区 ...

1）豆包：除夕AI互动19亿次，Seedance2．0为春晚提供技术支持；2）豆包App暂停视频通话功能；3）反超千 问、蚂蚁阿福，豆包App Store排名第一；4）2月12日凌晨，智谱发布新一代旗舰模型 GLM-5。 5）Meta加码英伟达，未来数年部署数百万颗芯片，首次采用Grace CPU。 < 国产算力（6）：算力紧缺+主流大模型适配国产芯片印证算力需求旺盛【东北计算机】 1）豆包：除夕AI互动19亿次，Seedance2．0为春晚提供技术支持；2）豆包App暂停视频通话功能；3）反超千 问、蚂蚁阿福，豆包App Store排名第一；4）2月12日凌晨，智谱发布新一代旗舰模型 GLM-5。 国产算力（6）：算力紧缺+主流大模型适配国产芯片印证算力需求旺盛【东北计算机】 5）Meta加码英伟达，未来数年部署数百万颗芯片，首次采用Grace CPU。 #春节流量峰值验证算力瓶颈，国产算力迎来规模化商用拐点。 2026 年春节期间 AI 应用场景的集中爆发，直接凸显出算力资源的供给缺口，国内 AI 产业对算力的刚性需求进一 步释放。 1）字节跳动旗下豆包 App 因新春用户流量大幅攀升出现算力承压，于 2 ...