署名：创业板人工智能ETF华宝（159363）/大数据ETF华宝（516700）/通用航空ETF华宝 （159231）基金经理 曹旭辰 近期，我们已两次强调市场到了好的击球点，建议关注底部机遇，关注创业板AI的成长板块增强特 性。下文，我们将从三个方面展开论述：其一，4100点后的市场整体展望；其二，国产AI的节奏；其 三，港股展望。 第一，4100点后的市场整体展望。 2025年12月19日至2026年1月9日，上证指数15连阳，并走高至4100点上方，A股单日成交额突破3万亿 元。其间，此前表现较强的光模块龙头持续调整，所以这轮行情我们可以称其"底部解套行情"——低位 套牢筹码的解放，修复了市场的赚钱效应，相当于缩小了高高在上的"光模块"与痛苦挣扎的"底部题 材"的收益剪刀差，这给了市场重选新主线进行再平衡的机遇，这对2026年行情的表现有着巨大的帮 助。 整体来看，我们依旧看好2026年的行情，尤其是2026年上半年的科技股行情，但短期超涨后适度的调整 也非常正常。因此，若后市迎来短期回调，建议把握调整机遇，与此同时，前期与市场表现相反的光模 块（代表性ETF：创业板人工智能ETF华宝（159363）） ...

Group 1 - The ETF market opened with mixed performance on September 29, with notable gains in specific sectors [1] - The Southern Science and Technology Growth ETF (589700) increased by 9.61%, indicating strong investor interest in this sector [1] - The Energy Storage Battery ETF from GF (159305) rose by 2.24%, reflecting positive sentiment in the energy storage market [1] Group 2 - The Information Technology ETF (562560) saw a gain of 2.09%, suggesting a stable outlook for technology investments [1] - Conversely, the Communication Equipment ETF (159583) declined by 1.98%, indicating potential challenges in this sector [1] - The ChiNext Artificial Intelligence ETF from Huaan (159279) fell by 1.7%, and the Innovative Drug ETF from Tianhong (517380) decreased by 1.65%, highlighting some volatility in these emerging sectors [1]

Group 1 - The "Chuang Series" index experienced a significant surge, with the ChiNext Index rising by 3.63%, reaching a new high since February 2023 [2] - Among the top ten weighted stocks in the ChiNext Index, all except Wens Foodstuff Group saw gains, with Tonghuashun up 15.74% and Zhongji Xuchuang up 10.65% [2] - Ningde Times, the largest weighted stock in the ChiNext Index, reported a revenue of 178.886 billion yuan, a year-on-year increase of 7.27%, and a net profit of 30.485 billion yuan, up 33.33% [2] Group 2 - Multiple broad-based indices also reached new highs for 2023, including the ChiNext 50, which rose by 4%, and the ChiNext Composite Index, which increased by 3% [2] - The strategy indices showed strong performance, with the Chuang Growth Index up 4.18% and the Chuang Value Index up 2.02% [3] - The leading ETF products in the "Chuang Series" also performed well, with the ChiNext Artificial Intelligence ETF rising by 6.36% [3]