Group 1 - The core viewpoint is that the artificial intelligence industry is experiencing historic development opportunities under the strategic guidance of accelerating high-level technological self-reliance and strength [1] - The Huafu Artificial Intelligence ETF is one of the first AI-themed ETFs listed, attracting increasing attention from investors [1] - The ETF closely tracks the CSI Artificial Intelligence Industry Index, which covers the entire AI industry chain, helping to mitigate risks associated with single sub-sectors while adapting to changes in market conditions [1] Group 2 - The index underwent an upgrade in its compilation scheme at the end of July and completed a quarterly adjustment at the end of September, enhancing its adaptability to market characteristics [1] - The Huafu Artificial Intelligence ETF has shown impressive performance, with a return of 169.76% since September 24 of last year, compared to a benchmark return of 172.70% [1] - The fund manager anticipates significant policy dividends in the AI sector over the next five years, particularly in foundational models, AI chips, algorithms, and computing power [2] Group 3 - The development of artificial intelligence has been elevated to a national strategic level, increasing the certainty of industry growth and solidifying its position as a mainline industry [2] - AI applications in manufacturing and the real economy are expected to transition from concept validation to large-scale implementation, becoming a core driving force for building a modern industrial system [2] - The artificial intelligence industry is poised for sustained growth driven by policy support and technological breakthroughs [2]

Core Insights - The recent high-level meeting has outlined a five-year plan emphasizing high-quality development and technological self-reliance, with a focus on new productive forces as a priority for all policies [1][3] - The AI sector is expected to benefit significantly from policy incentives under the 14th Five-Year Plan, particularly in areas like foundational models, AI chips, algorithms, and computing power [3][4] - The artificial intelligence industry is positioned as a strategic priority for national development, enhancing growth certainty and establishing its status in the mainline industry [3] Market Performance - As of October 24, 2025, the CSI Artificial Intelligence Industry Index (931071) rose by 2.80%, with notable gains in constituent stocks such as Beijing Junzheng (300223) up 6.66% and Lanke Technology (688008) up 5.84% [1] - The artificial intelligence ETF (515980) also saw an increase of 2.70%, with a trading volume of 2.06 billion yuan and a turnover rate of 2.61% [3] Investment Opportunities - The Huafu Artificial Intelligence ETF (515980) provides balanced exposure across various segments of the AI industry, covering both computing power and applications [4] - Investors without stock accounts can consider the Huafu Artificial Intelligence ETF linked funds (Class A 008020, Class C 008021) for AI investment [4]

Group 1 - The core viewpoint is that the artificial intelligence (AI) industry is experiencing significant growth, with notable stock performance and investment initiatives from major companies like Huawei [1][2]. - The China Securities Artificial Intelligence Industry Index (931071) rose by 3.30%, with key stocks such as Heertai (002402) hitting the daily limit up, and other companies like Jingchen (688099) and Hengxuan Technology (688608) also showing strong gains [1]. - Huawei launched the "Tian Gong Plan" at the Huawei Connect 2025 event, committing 1 billion yuan to support the Harmony AI ecosystem, focusing on AI agents and services [1]. Group 2 - The 2025 Cloud Habitat Conference will take place on September 24, featuring three main forums and exhibition halls dedicated to exploring cutting-edge AI technologies [2]. - The AI exhibition hall will showcase large models and AI agent development tools, while the computing hall will present a full-stack capability from chips to platforms [2]. - Hai Tong International Securities emphasizes that AI is a key driver of the new technological revolution and industrial transformation, with rapid development in the AI industry and a unified ecosystem emerging from domestic large models and chips [2]. Group 3 - The Huafu Artificial Intelligence ETF (515980) focuses on high AI purity stocks, covering various segments of the AI field and targeting sectors with strong performance [4]. - The ETF has a turnover rate of 7.38% and a transaction volume of 516 million yuan, with an average daily transaction of 798 million yuan over the past month [1][4]. - Investors without stock accounts can consider the Huafu Artificial Intelligence ETF linked funds (Class A 008020, Class C 008021) for exposure to the AI sector [4].

Group 1 - DeepSeek-R1 inference model research paper published in the prestigious journal Nature, marking a significant achievement for the DeepSeek team led by Liang Wenfeng [1] - As of September 18, 2025, the CSI Artificial Intelligence Industry Index rose by 3.26%, with notable stock performances including Lingyun Guang up by 16.91% and Heertai reaching a daily limit up [1] - The Artificial Intelligence ETF (515980) saw a half-day increase of 3.37%, with a total scale reaching 6.925 billion yuan and a net inflow of 110 million yuan [1] Group 2 - The World Trade Organization (WTO) projects that AI could increase global trade in goods and services by nearly 40% by 2040, with trade costs reduction and productivity improvements driving significant growth [2] - Goldman Sachs highlights a resurgence in investment narratives for AI infrastructure in China, with daily token consumption for enterprise-level AI models reaching 10.2 trillion in the first half of 2025, a 363% increase from the second half of 2024 [2] - Guosen Securities notes that global AI computing power demand is on the rise, with domestic markets accelerating the localization of computing power due to foreign restrictions [2] Group 3 - The Huafu Artificial Intelligence ETF (515980) focuses on high AI purity stocks while covering various segments of the AI field, aiming to help investors capitalize on the current technology bull market driven by AI [4] - The ETF includes a selection of stocks with notable performance, such as Zhongji Xuchuang up by 1.69% and Keda Xunfei up by 2.54%, indicating strong market interest in AI-related companies [4]

Core Insights - The China Securities Artificial Intelligence Industry Index (931071) has shown a strong performance, rising 4.28% as of August 25, 2025, with notable gains in constituent stocks such as Zhongji Xuchuang (300308) up 12.12% and Yuntian Lifei (688343) up 10.01% [1][4] - The Artificial Intelligence ETF (515980) has also performed well, increasing by 3.50% and achieving a cumulative rise of 14.76% over the past week [1][3] Market Activity - The Artificial Intelligence ETF has a turnover rate of 10.49% with a half-day trading volume of 433 million yuan, indicating active market participation [3] - The ETF's latest scale reached 3.945 billion yuan, marking a new high since its inception, with a net inflow of 249 million yuan over the past four days [3][4] Index Performance - Over the past ten trading days, the China Securities Artificial Intelligence Industry Index has increased by 27.34%, outperforming similar indices such as the CS Artificial Intelligence Theme Index (24.22%) and the Sci-Tech Innovation AI Index (23.95%) [4] - The index is designed to comprehensively and balancedly track 50 stocks with high AI revenue and growth potential, focusing on both infrastructure and application layers [3][4] Investment Opportunities - The current low penetration rate of AI large models suggests significant growth potential in the industry, with capital expenditures expected to rise alongside revenue growth from these models [4] - The index has been upgraded to allow for quarterly adjustments, enabling quicker incorporation of companies benefiting from AI technology and better assessment of relative industry trends [7]

Core Insights - The China Securities Artificial Intelligence Industry Index (931071) has shown a strong increase of 1.71% as of July 17, 2025, with notable gains in constituent stocks such as Xinyi Sheng (300502) up 7.98% and Tuowei Information (002261) up 6.72% [1][2] - The Artificial Intelligence ETF (515980) has also risen by 1.74%, achieving a five-day consecutive increase, with a trading volume of 1.40 billion yuan [1][2] - The index has demonstrated a 40.06% increase in net value over the past year, ranking in the top 17.63% among 2,915 index equity funds [1][2] Industry Overview - The index is constructed from 50 representative listed companies that provide foundational resources, technology, and application support for artificial intelligence, with the top ten stocks accounting for 52.07% of the index [2][3] - The upcoming World Artificial Intelligence Conference from July 26 to July 28, 2025, in Shanghai will showcase over 3,000 cutting-edge exhibits, including numerous AI models and products, marking the largest scale in history [2][3] Market Trends - Dongwu Securities indicates that AI applications have achieved significant cost reductions and rapid penetration, suggesting the industry is entering a fast growth phase [3] - Guojin Securities highlights strong momentum in AI hardware for smart driving and robotics, as well as software applications in education, finance, and enterprise services [3][5] - The Huafu Artificial Intelligence ETF (515980) is positioned as a small broad-based fund that captures opportunities in both computing infrastructure and application innovation within the AI sector [5][6]

Quantitative Models and Construction Methods 1. Model Name: CSI Artificial Intelligence Industry Index (931071.CSI) - **Model Construction Idea**: The index is designed to reflect the overall performance of listed companies in the AI industry by selecting the top 50 representative securities based on AI business proportion, growth level, and market capitalization[37][38] - **Model Construction Process**: - **Sample Space**: Includes companies providing foundational resources, technical support, or application support for AI, such as specialized computing chips, cloud computing, big data, and AI applications like smart security and smart healthcare[38] - **Selection Method**: 1. Rank securities by daily average trading volume over the past year and exclude the bottom 20%[38] 2. Select companies involved in AI-related businesses, categorized into foundational resources, technical support, and application areas[38] 3. Calculate a comprehensive score for remaining securities: - Comprehensive Score = (Past Year Average Market Cap) × (AI Revenue Proportion Score) × (Revenue Growth Score) - Revenue Growth Score: Standardized score of the average revenue growth over the past two years - AI Revenue Proportion Score: - ≥70% AI revenue: Score = 1 - 30%-70% AI revenue: Score = 1 for internet/software companies; otherwise, score = AI revenue proportion - <30% AI revenue: Score = AI revenue proportion[38] 4. Select the top 50 securities with the highest comprehensive scores as index components[38] - **Weighting Method**: Adjusted free-float market capitalization weighting, incorporating AI revenue proportion and revenue growth scores[38] - **Rebalancing**: Semi-annual adjustments in June and December[38] - **Model Evaluation**: The index is characterized by comprehensiveness, growth orientation, and purity, ensuring it captures the AI industry's development while avoiding speculative stocks[41][44][51] --- Model Backtesting Results 1. CSI Artificial Intelligence Industry Index - **Return**: 68.57% (2024.02.05–2025.03.21)[67][68] - **Annualized Sharpe Ratio**: 1.38[68] - **Annualized Volatility**: 39.74%[68]