12月8日，A股市场全天震荡走高，计算机方向走强。截至当天收盘，中证计算机主题指数上涨1.35%； 成分股中，江波龙涨超14%，深科技、同方股份、中科曙光等个股跟涨。中证沪港深云计算产业指数上 涨2.95%；成分股中，新易盛、中际旭创等多股涨超5%。 Wind数据显示，12月8日计算机ETF（159998）、云计算ETF天弘（517390）全天成交额均为同标的第 一。 消息面上，据证券时报，近期广东、山东、陕西、河南、重庆等多地发布第十五个五年规划的建议。其 中，广东提出，深入推进数字广东建设，全面实施"人工智能+"行动。重庆提出，在纵深推进人工智能 与数字重庆双向赋能方面，规划建议提出，迭代全市统一数智底座。 此外，据上证报，近日，全球云计算领域的年度风向标AWS re:Invent 2025大会在拉斯维加斯举行。在 演讲环节，亚马逊云科技（AWS）CEO Matt Garman宣布，Amazon Bedrock模型库迎来扩容，并正式引 入来自中国的新锐AI独角兽——MiniMax（稀宇科技）最新一代文本模型MiniMax M2。 信达证券指出，计算机板块"牛市旗手"属性凸显，基本面与流动性共振。估值维度， ...

华龙证券指出，我们认为，太空算力产业奇点临近，算力竞争有望开辟"新角逐场"。另外，随着AI技术 应用的广泛普及与硬件性能的持续迭代形成良性循环，全球AI产业进入共振期。 云计算ETF天弘（517390，场外C类019170）深度追踪中证沪港深云计算产业指数，独享A股与港股两 大市场的投资便利，一键网罗沪、港、深三地最具竞争力的云计算核心资产。 消息面上，据DeepSeek官微，12月1日，DeepSeek发布两个正式版模型：DeepSeek-V3.2和DeepSeek- V3.2-Speciale。DeepSeek-V3.2强化Agent能力，官方网页端、App和API均已更新为正式版DeepSeek- V3.2。Speciale版本目前仅以临时API服务形式开放，以供社区评测与研究。 据央视新闻，国内首个光量子计算机制造工厂11月24日正式在广东深圳南山区落成。该工厂11月24日正 式进入到小批量生产阶段，总面积约5000平方米，集研发、制造、测试于一体，用于实现光量子计算机 的工程化、标准化和规模化生产。 12月2日，A股市场全天震荡调整，深成指、创业板指一度双双跌超1%。截至当天收盘，中证计算机主 题指 ...

Market Performance - The Shenzhen Component Index and ChiNext Index both opened low but rose significantly, with the ChiNext Index increasing by over 3% at one point. By the end of trading, the Shanghai Composite Index fell by 0.15%, while the Shenzhen Component Index rose by 1.02% and the ChiNext Index rose by 2.14% [1] ETF Activity - The Computer ETF (159998) recorded a trading volume of nearly 90 million yuan and a turnover rate of 3.51%. It saw a net subscription of 18 million units the previous day, marking six consecutive trading days of net inflow, totaling nearly 85 million yuan [2] - The Cloud Computing ETF Tianhong (517390) continued its rebound, marking three consecutive days of increase [2] Industry Insights - According to Shenwan Hongyuan Securities, domestic models are seeking a better balance between performance, efficiency, and cost, accelerating commercialization. The software industry is entering an optimal layout period, with companies seeing AI revenue exceeding 10% [3] - According to China Merchants Securities, AI technology has become a core driving force in the computer and software development industry. The deep penetration of AI in cloud computing, computing power, and software applications is continuously reshaping the industry landscape and creating new growth momentum [3] AI Developments - Huawei's Executive Director Yu Chengdong announced that the number of terminal devices equipped with HarmonyOS 5 and HarmonyOS 6 has exceeded 27 million [2] - Alibaba's AI assistant Qianwen App surpassed 10 million downloads within a week of its public testing, becoming the fastest-growing AI application [2]

Group 1: A-Share Market Performance - The A-share market experienced a rebound, with the ChiNext Index rising nearly 2%, driven by active concepts such as AI applications and optical communications [1] - The Computer ETF (159998) saw a rise and has rebounded for two consecutive days, with notable gains in constituent stocks like Shiji Information (over 7%) and Weining Health (over 5%) [1] - The Computer ETF recorded a net subscription of 15.6 million units yesterday, marking a total net inflow exceeding 69 million yuan over the past five trading days [1] Group 2: Cloud Computing and AI Developments - The Tianhong Cloud Computing ETF (517390) continued its upward trend, with a year-to-date share growth rate of 380.36% as of November 24 [1] - The Computer ETF tracks the CSI Computer Theme Index, which encompasses both hardware and software sectors, reflecting the overall performance of the computer industry [1] - The Tianhong Cloud Computing ETF uniquely tracks the CSI Shanghai-Hong Kong-Shenzhen Cloud Computing Industry Index, providing access to competitive cloud computing assets across A-shares and Hong Kong stocks [1] Group 3: Quantum Computing and AI Software Innovations - Shanghai Jiao Tong University launched the world's first quantum scientific computing platform, UnitaryLab, aimed at overcoming traditional computing limitations [2] - Huawei introduced Flex:ai AI container software, which utilizes power slicing technology to enhance GPU/NPU utilization, allowing multiple AI workloads to run simultaneously [2] - Domestic computing capabilities are advancing, with Huawei's Flex:ai focusing on improving AI cluster efficiency and reducing migration barriers, reinforcing the software layer's role in addressing hardware limitations [2]

Market Performance - On November 24, the market rebounded with all three major indices closing in the green, with the Shanghai Composite Index up 0.05%, the Shenzhen Component Index up 0.37%, and the ChiNext Index up 0.31% [1] ETF Highlights - The Computer ETF (159998) had a trading volume of 105 million yuan and a net subscription of 14.4 million units as of November 24, marking four consecutive trading days of net inflow, totaling over 55.1 million yuan [1] - The Tianhong Cloud Computing ETF (517390) recorded a trading volume of nearly 20 million yuan and a turnover rate of 5.22%, with a year-to-date share growth rate of 380.36% as of November 24 [1] Industry Insights - The Computer ETF tracks the CSI Computer Theme Index, which encompasses both software and hardware sectors, reflecting the overall performance of the computer industry. Key AI application areas include hardware for edge AI, software for C-end overseas markets, B-end enterprise services, and G-end large model privatization deployment [1] - The Tianhong Cloud Computing ETF closely follows the CSI Hong Kong-Shenzhen Cloud Computing Industry Index, providing access to competitive cloud computing core assets across A-shares and Hong Kong stocks [1] AI Industry Developments - Yuanbao announced a new feature allowing users to create videos from a single sentence or a static photo, enhancing user engagement in video creation [2] - The Chongqing Municipal Economic and Information Commission released a plan to accelerate the innovation of the AI terminal industry from 2026 to 2030, focusing on building high-performance computing centers and promoting a collaborative computing network among western cities [2] - According to Shenwan Hongyuan Securities, the global iteration speed of large models is expected to slow down by 2025, with the gap between China and the US narrowing, potentially leading to Chinese models surpassing in some areas by 2026 [2] - Ping An Securities noted that the competition in the global AI large model field remains intense, which will continue to drive the application of large models and boost the AI computing market [2]

Group 1 - The AI application concept is gaining strength in the market, with the CSI Computer Theme Index rising by 0.91% on November 17, and stocks like 360 and Tuowei Information seeing significant gains [1] - The Computer ETF (159998) recorded a trading volume exceeding 62 million yuan, making it the top performer among similar funds, with a net inflow of over 35 million yuan in the last two days [1] - The CSI Hu-Kong-Shen Cloud Computing Industry Index increased by 1.68%, with stocks such as Dongfang Guoxin and Huasheng Tiancai rising over 10% [1] Group 2 - Major funds are flowing into sectors like computers, energy metals, and national defense, while the pharmaceutical sector saw a net outflow exceeding 9.3 billion yuan [2] - The launch of China's first integrated computing power scheduling and monitoring platform in Jiangsu marks a significant development, connecting 282 data centers and covering 520,000 standard racks [2] - CITIC Securities indicates that the demand for computing power driven by AI remains strong, suggesting that recent adjustments in the computing power sector present investment opportunities [2] - Open Source Securities highlights significant progress in domestic AI across computing power, large models, and applications, reshaping the global competitive landscape and maintaining a positive outlook on domestic AI investment opportunities [2]

Group 1: A-Share Market Performance - The three major A-share indices collectively declined on November 17, with the China Securities Chip Industry Index rising by 0.62% at the time of reporting [1] - Among the component stocks, Baiwei Storage surged over 8%, with Beijing Junzheng, Chipone, Nanda Optoelectronics, and Shengke Communication-U also experiencing gains [1] - The Chip ETF Tianhong (159310) recorded a trading volume of nearly 2 million yuan, with a premium trading occurrence and a net inflow of funds for six consecutive trading days [1] Group 2: Cloud Computing Sector - The China Securities Hong Kong-Shenzhen Cloud Computing Industry Index increased by 1.46%, with the Cloud Computing ETF Tianhong (517390) achieving a trading volume exceeding 5.9 million yuan, ranking first among similar products [1] - As of November 14, the Cloud Computing ETF Tianhong (517390) reported a year-to-date share growth rate of 401.14%, leading among its peers [1] Group 3: Semiconductor and AI Chip Developments - Samsung Group announced plans to invest a total of 450 trillion won in South Korea over the next five years, focusing on research and development, including the expansion of semiconductor investments [2] - The company plans to commence structural construction of its fifth factory (P5) in the Pyeongtaek complex, expected to be fully operational by 2028 [2] - Domestic AI chips are increasingly significant, with their performance directly influencing AI model capabilities and future economic structures, driven by ongoing investments in AI infrastructure and the importance of self-controllable strategies [2]

Group 1 - The market experienced fluctuations on November 14, with the Shanghai Composite Index dropping nearly 1% and falling below 4000 points, while the ChiNext Index declined nearly 3% [1] - The CSI Computer Theme Index fell by 2.71%, and the CSI Hong Kong-Shenzhen Cloud Computing Industry Index decreased by 3.27% on the same day [1] - The cloud computing ETF Tianhong (517390) showed a significant premium at the close, with a premium rate of 0.21% [1] Group 2 - IBM announced the launch of a new quantum processor, IBM Quantum Nighthawk, and developed an experimental quantum computing chip named Loon [1] - Ant Group and Zhejiang University established a joint research center for big data cognitive computing in Hangzhou [1] - The computer ETF (159998) tracks the CSI Computer Theme Index, which includes both software and hardware sectors, reflecting the overall performance of the computer industry and serving as an efficient tool for investing in digital economy opportunities [1] Group 3 - Hu Long Securities indicated that the computer industry is expected to see stable revenue growth and profit growth exceeding revenue growth by the third quarter of 2025, signaling a clear performance recovery [2] - The AI sector is projected to have a significantly higher growth rate compared to the overall industry, driven by strong downstream demand and accelerated performance from leading companies [2] - Future growth in the computer industry is anticipated to be driven by policy catalysts, domestic innovation demand, and AI, suggesting an acceleration in the establishment of a fundamental turning point for the industry [2]

Group 1 - The A-share market experienced a significant rally on November 13, with the Shanghai Composite Index reaching a ten-year high and over a hundred stocks hitting the daily limit up [1] - The Computer ETF (159998) saw a net subscription of 9.6 million units on November 13, reversing a recent trend of net outflows, and its latest scale reached 2.451 billion yuan, making it the largest computer-themed ETF in the market [1][2] - The Cloud Computing ETF Tianhong (517390) also rose on November 13, marking its second consecutive day of gains, and it tracks the CSI Hong Kong-Shanghai-Shenzhen Cloud Computing Industry Index, providing access to competitive cloud computing assets across multiple markets [2] Group 2 - A new AI computing system called "Intelligent Computing Hub" was unveiled in Shanghai, developed through collaboration between various institutions, featuring a fully domestically produced core component architecture [2] - IBM announced advancements in quantum computing, introducing the IBM Quantum Nighthawk processor with 120 qubits, which represents a more than 20% increase in capabilities compared to its predecessor [3] - Despite concerns about an AI investment bubble, the computing industry is expected to maintain upward momentum due to ongoing investments in computing power and the steady progress of domestic production [3]

Group 1 - The technology sector experienced a pullback on November 11, with the Computer ETF (159998) declining by 1.61%, while storage leader Jiangbolong saw a rise of over 6% [1] - From October 28 to November 11, the Cloud Computing ETF Tianhong (517390) has retraced over 7%, and the Computer ETF (159998) has dropped more than 5% since October 30 [1] - Overall, the computer industry reported revenue growth of 5.04%, net profit growth of 27.31%, and non-recurring profit growth of 25.96% for the third quarter, confirming a performance recovery trend this year [1] Group 2 - The Cloud Computing ETF Tianhong (517390) tracks the CSI Hong Kong-Shenzhen Cloud Computing Industry Index, providing access to competitive cloud computing assets across A-shares and Hong Kong stocks [2] - A research team from the Chinese Academy of Sciences has made significant progress in neutral atom quantum computing, proposing a new architecture that addresses challenges in achieving high parallelism, speed, and stability [2] - The National Development and Reform Commission and other departments have issued a plan to promote the application of technologies like IoT, cloud computing, big data, AI, and blockchain in the logistics sector [2]