Group 1 - A-shares experienced a significant afternoon rally, with Software 50 ETF (159590) rising over 2% and having net inflows on 2 out of the last 5 days [1] - Digital currency concepts surged, influenced by a government notice promoting high-level institutional reforms in free trade zones, including measures for digital trade and risk prevention [3] - The EDA software market in China is dominated by three major suppliers, which accounted for approximately 82% of the market share last year, following the U.S. decision to lift licensing requirements for these companies [4] Group 2 - The Software 50 ETF closely tracks the CSI Software Index, which includes 50 stocks with a focus on application software (67% weight), AI-related fields (over 15%), and information security (10%) [4] - The DeepSeek concept stocks within the CSI Xinchuang Index have a weight of 48.1%, indicating a strong correlation with the "domestic substitution" trend in the market [5] - The computer industry is expected to see steady revenue growth by Q2 2025, with a focus on AI applications and computing power as key growth areas [4]

Market Overview - A-shares experienced steady growth in the first half of the week, followed by an overall adjustment in the latter half, with May CPI showing a month-on-month decline [1] - The three major indices had mixed performances, with the Shanghai Composite Index and Shenzhen Component Index down by 0.25% and 0.60% respectively, while the ChiNext Index rose by 0.22% [1] - Global uncertainty has led to increased interest in defensive assets, with high-dividend assets maintaining significant allocation value [1] ETF Performance - The top-performing ETFs this week included several related to innovative pharmaceuticals, with notable gains exceeding 10% for multiple funds [2] - Conversely, consumption and technology-related ETFs saw significant declines, with the top losers experiencing drops of over 4% [4][5] Investment Trends - China's share of global business development (BD) transactions has surged from 5% in 2021 to 42% by May 2025, indicating a growing international recognition of Chinese innovative pharmaceuticals [3] - Major transactions, such as the $60 billion collaboration between Heng Rui Medicine and Hercules, highlight the increasing trend of Chinese companies entering international markets [3] Fund Flows - The ETF market saw a net outflow of 43.36 billion yuan, with a notable preference for conservative investments, particularly in bond ETFs [6][8] - The top inflows were seen in bond ETFs, with the Credit Bond ETF leading with an inflow of over 30 billion yuan [8] Upcoming ETFs - Four new ETFs are set to launch next week, including the Changcheng CSI Dividend Low Volatility 100 ETF, which aims to provide a combination of high dividends and low volatility [10] - The Tianhong CSI A500 Enhanced Strategy ETF is also highlighted for its strong historical performance and potential for superior returns through active management [12]

ETF收盘涨跌不一，恒生创新药ETF(159316)领涨4.08%，港股创新药ETF(159567)涨3.81%，港股通创新 药ETF(159570)涨3.69%，信创50ETF(560850)领跌3.76%，信创ETF基金(562030)跌3.68%，信创 ETF(562570)跌3.21%。 无需港股通，A股账户就能T+0买港股>> ...

ETF午间收盘涨跌不一，港股通创新药ETF工银(159217)领涨4.32%，港股创新药ETF(159567)涨4.14%， 港股创新药ETF基金(520700)涨4.01%，信创50ETF(560850)领跌3.38%，信创ETF基金(562030)跌 3.17%，信创ETF(562570)跌2.82%。 无需港股通，A股账户就能T+0买港股>> ...

Core Viewpoint - Significant capital inflow into the Xinchuang sector, with the Xinchuang 50 ETF (560850) experiencing a 0.46% increase and over 350 million yuan net inflow in the past five days [1][3] Group 1: Market Activity - The Xinchuang 50 ETF (560850) has seen frequent premiums during trading, driven by the suspension of Haiguang Information's absorption merger with Zhongke Shuguang [1] - Haiguang Information and Zhongke Shuguang are the second and eighth largest components of the Xinchuang 50 ETF, collectively accounting for nearly 10% of its weight [3] Group 2: Corporate Developments - The merger of Haiguang Information and Zhongke Shuguang is the first case of inter-company absorption merger following the revision of the Major Asset Restructuring Management Measures on May 16 [6] - Post-merger, the combined entity is expected to cover the entire industry chain from chip design to cloud computing services, with a total market value potentially exceeding 400 billion yuan [6] Group 3: Industry Trends - The integration of leading companies in the Xinchuang sector is accelerating, driven by policy incentives and the need for resource optimization [7] - The current mergers are characterized by technology collaboration, policy-driven consolidation, and international ecological layout [8][9] Group 4: ETF Composition - The Xinchuang 50 ETF (560850) tracks the Zhongzheng Xinchuang Index, with significant weightings in computer software (43%), cloud services (23%), computer equipment (18%), and semiconductors (13%) [10] - The DeepSeek concept stocks within the index have a weight of 48.1%, leading among all market ETF tracking indices [10]

近期，信创板块爆量吸金！信创50ETF（560850）两连涨后回调，现跌0.7%。盘中溢价频现，昨日资金 净流入近1.8亿元，近5日更是"吸金"近2.7亿元，成交额巨幅放量，暴增近200%！ 从公告时的"平地起惊雷"到最近信创类ETF的异常活跃，海光信息和中科曙光的这次并购重组可以说有 着史诗级的分量。不仅因为这是《上市公司重大资产重组管理办法》修订发布后的首单上市公司吸收合 并交易，而且因为两大巨头能在产业链上发挥协同效应，正如中泰证券所言，真正实现"芯片-软件-系 统"的全链协同。 中泰证券指出，海光信息是国产CPU和GPU头部企业，掌握核心芯片设计能力。而中科曙光是国内拥有 全栈自主技术方案的AI基础设施领军企业，在芯端云都有全面布局。战略重组后，海光信息和中科曙 光有望实现算力产业链的互补和技术协同，打造"国产芯片+服务器整机"一体化解决方案能力，探索高 算力集群建设方案，并发挥软件和算法层面对芯片性能的调优能力，从而实现芯片设计-服务器制造-云 服务优化的产业链贯通和循环。（来源：《海光信息&中科曙光战略重组，国产芯片+服务器+云计算全 链协同发展》） 截至6月5日，海光信息、中科曙光分别是信创50 ...

Group 1 - The core point of the news is the strategic restructuring between Zhongke Shuguang and Haiguang Information, aiming to enhance their core business and capitalize on new opportunities in the information technology industry through a share swap merger [1] - The restructuring is expected to create synergies in the computing power industry chain, integrating "domestic chips + server systems" to develop high-performance computing clusters and optimize chip performance through software and algorithms [1] - The x86 authorization held by the companies is considered rare, with core technology and continuous self-iteration leading to market-leading product competitiveness, supported by broad downstream demand and significant growth potential [1] Group 2 - The Xinchang 50 ETF (159539) closely tracks the National Certificate Information Technology Innovation Theme Index, covering 50 listed companies in hardware, software, and information security, reflecting the overall performance of the sector [2] - As of March 31, 2025, Haiguang Information and Zhongke Shuguang are the top two weighted stocks in the Xinchang 50 ETF, together accounting for over 13% of the total [2] - The Xinchang 50 ETF has seen a 34.26% increase over the past year, with active trading reflected in a turnover rate of 10.22% and an average daily transaction volume of 7.15 million yuan [2]

Market Overview - A-shares experienced a broad rally, with the computer sector leading the gains, particularly the Xinchuang 50 ETF (560850) which surged over 2% and saw a net inflow of over 12 million yuan in the past five days [1][3] Company Developments - DeepSeek, a large model platform, released its latest version R1 on May 28 without detailed announcements, but it is expected to soon provide more information about its features. Testing by Live CodeBench indicates that its performance is comparable to OpenAI's latest models [3][4] - In the hardware sector, the Xinchuang 50 ETF (560850) component stocks, Haiguang Information and Zhongke Shuguang, announced a merger through a stock swap, with Haiguang being the second-largest holding in the ETF [3][4] Industry Insights - The Xinchuang 50 ETF (560850) tracks the Zhongzheng Xinchuang Index, which has a high weight of 48.1% in DeepSeek concept stocks, covering major players like Inspur Information and Kingsoft [7] - The index includes various sectors such as computer software (41%), cloud services (22%), computer equipment (19%), semiconductors (14%), and industrial internet (5%), indicating a strong linkage to the DeepSeek developments [7] AI Application Trends - AI companionship applications are gaining traction, with platforms like Character.AI and Talkie reaching over 10 million monthly active users. Key features include personalization, real-time interaction, and immersive experiences, primarily attracting younger demographics [5][6] - The integration of multi-modal capabilities in AI applications is expected to enhance user engagement and retention, with advancements in text, image, and audio generation technologies [5][6]

科创芯片板块喜迎并购重组新规后首单！5月25日晚间，海光信息、中科曙光发布公告称，正在筹划由海光信息通过向中科曙光全体A股换股股东发行A股股 票的方式，换股吸收合并中科曙光，并发行A股股票募集配套资金。 数据显示，海光信息是科创芯片50ETF（588750）标的指数第三大重仓股，占比达9.53%；而海光信息、中科曙光在信创50ETF（560850）标的指数中占比 加总高达10.17%！ | 证券代码 | 证券名称 | | 中证—级行业分类 中证二级行业分类 | 权重(%) | 证券代码 | 证券名称 | | 中证一级行业分类 中证二级行业分类 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 688981 | 中心国际 | 信息技术 | 未合体 | 9.89 | 688041 | 一 海光信息 | 信息技术 | 未曾体 | | 688256 | 寒武纪 | 信息技术 | 未合体 | | 000977 | 浪潮信息 | 信息技术 | 电子 | | 688041 | 海光信息 | 信息技术 | 半导体 | | 301269 | 华大九天 | 信 ...

消息面上，国家数据局近日透露，国家将继续加大中央财政资金投入，支持地方、行业建设一批基础 性、公益性、长远性数据基础设施项目；用好超长期特别国债资金，加快构建国家数据基础设施架构； 面向"十五五"，加快研制国家数据基础设施规划。 除此之外，第八届数字中国建设峰会闭幕。在产业对接方面，本届峰会共签约数字经济重点项目455 个，总投资额2280亿元，比上届峰会分别增长8%和12%，项目涵盖新一代人工智能、机器人、算力基 础设施、互联网医疗等多个领域。 盘面上，2025年5月6日早盘，AI产业链持续走强。岩山科技、掌阅科技涨停！润和软件涨超8%，金山 办公、神州泰岳、奥飞数据等个股跟涨。 ETF方面，AI产业链相关产品集体爆发！云计算50ETF(159527)一度涨近4%，超九成成份股飘红；信息 技术ETF(159939)涨超2%，成份股润和软件、光弘科技涨超8%；传媒ETF(512980)涨超2%，成交额快速 突破亿元，居同类产品第一；信创50ETF(159539)涨超2%，盘中换手率居同类产品第一，凸显流动性优 势；电信ETF(159507)涨超2%，年初至今份额增长超14%，备受市场关注。 华鑫证券指出，AI ...