国金证券认为，半导体设备是半导体产业链的基石，存储扩产与自主可控共振，国产化空间广阔。存储芯片架构从2D向3D深层次变革，随着3D DRAM技术 引入以及NAND堆叠层数向5xx层及以上演进，制造工艺中对高深宽比刻蚀及先进薄膜沉积的要求呈指数级提升，相关设备厂商将深度受益于工艺复杂度提 升带来的红利。 | 截至午间收盘 | 该指数自20 该指数 | | --- | --- | | 该指数涨跌 | 滚动市销率 发布以来估值 | | 2.4% | 4.9倍 98.39 | 截至午间收盘，中证半导体材料设备主题指数上涨5.2%，中证芯片产业指数上涨4.4%，中证云计算与大数据主题指数上涨2.4%。 该指数由40只业务涉及半 导体材料和半导体设备的公 司股票组成,聚焦未来计算 的硬件基础环节。 该指数自20 以来估值分 5.2% 6.8倍 66.30 同标的指数中规模居第一 低费率(0.15%+0. 05%费率) 注:"N0.1"标签指截至2025年12月 ETF规模在跟踪同标的指数的ETF中排名 数据来自交易所官网。"低费率"标签 0.15%/年,托管费率0.05%/年。 截至午间收盘 12 = 5 该指数涨跌 巾 ...

今日早盘，大盘下探后持续反弹，AI算力、半导体设备等板块表现活跃。截至午间收盘，中证云计算与大数据主题指数、中证芯片产业指数均上涨1.0%， 中证半导体材料设备主题指数上涨1.4%。 | 云计算ETF (No.1 | | | 516 | | --- | --- | --- | --- | | 跟踪中证云计算与大数据主题指数。 | | | | | | | | ·· | | 该指数由50只业务涉及提 | 截至午间收盘 | 该指数 | 该指数自20 | | 供云计算服务、大数据服务 | 该指数涨跌 | 滚动市销率 | 发布以来估值 | | 以及上述服务相关硬件设备 | | | | | 的公司股票组成,覆盖云计 | 1.0% | 4.8 円 | 98.29 | | 算产业链。 | | | | | 芯片ETF易方达 | | | 516 | | 跟踪中证芯片产业指数 | | | | | | | | ·· | | 该指数由50只业务涉及芯 | | | | | 片设计、制造、封装与测 | 截至午间收盘 | 该指数 | 该指数自20 | | 试以及半导体材料、半导 | 该指数涨跌 | 市净率 | 以来估值分 | | 体生产设备 ...

Group 1 - The South Korean government is preparing its first official budget under the Lee Jae-myung administration, with a planned expenditure increase of 8%-9% for the upcoming year [1] - Total government expenditure is expected to rise from 673.3 trillion KRW this year to approximately 730 trillion KRW, an increase of about 60 trillion KRW [1] - The budget will focus on addressing structural low growth by reallocating funds towards "growth areas," particularly in research and development and artificial intelligence [1] Group 2 - Significant budget support will be directed towards enterprise-level AI projects, including humanoid robots, fully autonomous vehicles and ships, drones, AI home appliances, AI factories, and terminal AI semiconductors [1]

Group 1 - The People's Bank of China announced an increase in the re-lending quota for technological innovation and technological transformation from 500 billion to 800 billion yuan, supporting the implementation of the "two new" policies [1] - The cloud computing 50 ETF (159527) opened high on May 7, 2025, with the CSI Cloud Computing and Big Data Theme Index (930851) rising by 0.76% [1] - Notable increases in component stocks include Zhongke Xingtu (688568) up 5.98%, Hengsheng Electronics (600570) up 2.96%, and Tuolisi (300229) up 2.70% [1] Group 2 - The Digital China Development Report (2024) indicates a steady growth of over 10% in the Digital China Development Index over the past three years, with data production increasing by 25% year-on-year [2] - The total computing power reached 280 EFLOPS, and 5G base stations built totaled 4.251 million, with mobile IoT terminal users reaching 2.656 billion [2] - AI computing power-related companies have shown good performance in their earnings reports, indicating a high level of industry prosperity [2]

Core Insights - The Big Data ETF (159739) has increased by 2.67%, with notable gains in constituent stocks such as Zhongke Xingtou (688568) up 6.61%, Yonyou Network (600588) up 6.51%, and Tuolisi (300229) up 6.46% [1] - The 8th Digital China Construction Summit highlighted the acceleration of China's digital economy, with the core industries' added value expected to account for approximately 10% of GDP in 2024 [1] - The National Data Bureau reported that the total data production reached 41.06 ZB, reflecting a year-on-year growth of 25% [1] - Guotai Junan Securities indicated that the most certain segment in the AI field by 2025 will be AI cloud services and high-quality data, shifting focus from upstream computing power supply to application-based reasoning and computing power demand [1] Industry Overview - The Big Data ETF (159739) closely tracks the CSI Cloud Computing and Big Data Theme Index, which includes 50 listed companies involved in cloud computing services, big data services, and related hardware [1] - As of March 31, 2025, the top ten weighted stocks in the CSI Cloud Computing and Big Data Theme Index (930851) include Keda Xunfei (002230), Kingsoft Office (688111), and Unisplendour (000938), collectively accounting for 47.55% of the index [2]