国盛证券指出，在发射频次提升、单位运载成本持续下降的背景下，围绕低轨与深空的应用场景正加速 从"可行性验证"走向"工程化落地"。 格隆汇1月8日｜今日商业航天、大飞机板块再度上涨，航空航天ETF(159227)飙涨4%，强势反包，净值 再创上市以来新高，自11月24日起累计上涨35%。数据中心板块也表现不俗，成份股宝信软件涨停，中 科曙光涨6%，带动数据ETF涨2.36%。 消息面上： ①特朗普寻求将2027财年军事预算增至1.5万亿美元，将使美国军费创下历史上最大的名义金额增幅。 ②星河动力航天将于近期择机实施"谷神星一号海射型（遥七）"商业运载火箭发射任务，任务代号 为"望海潮"。 ③Rubin平台实现100%全液冷覆盖，旗舰产品Vera Rubin NVL72机架式系统采用无缆化、无风扇模块化 设计，构建"精准温控+高效换热"的整机散热生态，成为液冷技术规模化落地的重要风向标。 相关产品，及截至发稿涨跌幅： 打包空天军工核心力量：航空航天ETF(159227)，+4.28%，规模居同标的第一，指数商业航天概念权重 占比超70%，成份股包含光启技术（超材料隐身技术）、中航沈飞（歼击机整机制造）、航发动力（ ...

Group 1 - The Shanghai Stock Exchange's Sci-Tech Innovation Board semiconductor materials and equipment index decreased by 0.67% as of December 10, 2025, with mixed performance among constituent stocks [1] - Zhongke Shuguang and Haiguang Information announced the termination of a major asset restructuring, stating that it will not significantly impact their production, operations, or financial status [1] - The China Securities Index for the big data industry fell by 2.00%, with Zhongke Xingtou leading gains at 7.01% while Shuguang Data Creation dropped by 10.92% [1] Group 2 - Galaxy Securities noted that the semiconductor sector performed relatively well last week, with the long-term development logic of the sector remaining unchanged [2] - The trend of supply chain security and self-control is emphasized as a long-term strategy in the current external environment [2] - Equipment and materials are highlighted as having the strongest logic under domestic substitution top-level design, with digital chips being the core carrier of computing autonomy [2]

Group 1 - The China Securities Big Data Industry Index rose by 0.59% as of July 18, 2025, with notable increases in constituent stocks such as Deepin Technology (7.05%), Tax Friend (3.97%), and Bosi Software (3.04%) [1] - The Data ETF (516000) increased by 0.52%, with a latest price of 0.97 yuan, and has seen a cumulative increase of 4.67% over the past week [1] - The Data ETF has achieved a net value increase of 54.47% over the past year, ranking first among comparable funds [1] Group 2 - Recent announcements from Baidu and Huawei regarding the open-source promotion of large model technology, along with the release of seven national standards for digital services, are expected to enhance the competitiveness of enterprises and accelerate the development of the computer industry [2] - The implementation of these standards is anticipated to break down technological barriers and promote the deep integration of the digital economy with the computer industry, unlocking greater development potential [2] - The Data ETF and its linked funds closely track the China Securities Big Data Industry Index, focusing on popular sectors such as data elements, data security, and the East Data West Computing initiative, covering key stocks like iFlytek and Inspur Information [2]

Core Viewpoint - The data ETF and the big data industry are experiencing growth driven by advancements in computing power and the expansion of cloud services, particularly by Alibaba Cloud, which is enhancing its global infrastructure and AI capabilities [1][2]. Group 1: Market Performance - As of July 3, 2025, the CSI Big Data Industry Index (930902) rose by 0.44%, with notable increases in constituent stocks such as Guanghuan Xinnet (+2.98%), Aofei Data (+1.48%), and Baoxin Software (+1.22%) [1]. - The data ETF (516000) increased by 0.55%, with a recent price of 0.91 yuan, and has seen a cumulative rise of 1.34% over the past two weeks [1]. Group 2: Company Developments - On July 2, Alibaba Cloud announced the addition of new data centers in Malaysia and the Philippines, expanding its global infrastructure to 29 regions and 90 availability zones [1]. - The third availability zone in Malaysia went live on July 1, while the second zone in the Philippines is set to launch in October 2025 [1]. - Alibaba Cloud plans to establish its first global AI capability center, collaborating with over 1,000 companies to create more than 10 industry AI demonstration projects and partnering with over 120 universities to train 100,000 AI professionals annually [1]. Group 3: Industry Insights - According to IDC's latest report, Alibaba Cloud, Huawei Cloud, and Volcano Engine are the top three players in China's AI infrastructure (AI IaaS) market, with Alibaba Cloud holding a 23% market share, surpassing the combined share of the second and third-ranked companies [1]. - The integration of computing power is crucial for the big data industry, enhancing data storage efficiency and accelerating data analysis processes, which in turn supports innovative applications in fields like smart driving and telemedicine [2].

Group 1 - The China Securities Index for the big data industry (930902) has shown a slight increase of 0.17% as of June 27, 2025, with notable gains from constituent stocks such as Donghua Software (up 4.18%) and Aofei Data (up 2.50%) [1] - The Data ETF (516000) has experienced a 4.64% increase over the past week, indicating strong market performance and liquidity, with a turnover rate of 4.62% and a transaction volume of 19.34 million yuan [1] - The approval of the first batch of data center REITs, specifically the Southern Wanguo Data Center REIT, marks a significant breakthrough in China's capital market, entering the "technology new infrastructure" era [1] Group 2 - The Data ETF (516000) serves as a comprehensive indicator of the big data industry, covering the entire industry chain from storage to analysis and application [2] - The integration of computing power is reshaping the industry landscape, enhancing data storage efficiency and accelerating model training and algorithm iteration in the analysis field [2] - The strong support for computing power is facilitating the implementation of innovative applications in demanding fields such as financial investment and intelligent driving, thus expanding the boundaries of the big data industry [2]

Group 1 - The core viewpoint of the news highlights the significant rise in the performance of the data ETF and its underlying index, indicating a growing interest in the data industry and financial technology sectors [1][2] - The China Securities Index for the big data industry has shown a 0.73% increase, with notable gains from constituent stocks such as Dongfang Guoxin (9.75%) and SuperMap Software (4.34%) [1] - The data ETF has experienced a 2.90% increase over the past week, reflecting strong trading activity with a turnover of 24.175 million yuan and a turnover rate of 5.61% [1] Group 2 - Gartner's research indicates that AI applications in finance are on the verge of a breakthrough, with the first AI-enhanced financial applications expected to mature within one to two years [2] - The integration of financial technology and big data is reshaping the industry landscape, enhancing data storage efficiency and risk insight accuracy through algorithmic advancements [2] - The data ETF serves as a key tool for capturing the financial technology dividend, supported by policies aimed at improving financial data infrastructure [2]

Group 1 - The core viewpoint of the articles highlights the significant rise in A-share computing hardware stocks driven by overseas sentiment, with the CSI Big Data Industry Index increasing by 1.37% and notable gains in individual stocks such as Hengsheng Electronics (up 6.72%) and Zhongke Shuguang (up 5.00%) [1] - Nvidia's annual shareholder meeting reassured investors about the strong demand in the AI sector, indicating that the large-scale upgrade of AI infrastructure in the computing industry is just beginning, which contributed to Nvidia's stock price rising by 4.3% and reaching a market capitalization of $3.77 trillion [1] - The global demand for data centers is expected to grow, with the number of large data centers operated by hyperscale operators projected to double in five years, reaching 1,136 by the end of 2024, according to Synergy Research Group [1] Group 2 - The Data ETF (516000) serves as a barometer for the big data industry, closely tracking the CSI Big Data Industry Index and covering the entire industry chain of big data storage, analysis, and application [2] - The wave of interconnected computing is reshaping the industry landscape, enhancing efficiency in data storage and accelerating model training and algorithm iteration in the analysis field, which improves data insight precision and depth [2] - Computing power is driving the implementation of innovative applications in demanding fields such as financial investment and intelligent driving, overcoming technical bottlenecks and expanding the boundaries of the big data industry [2]

Core Insights - The overall market experienced fluctuations on June 17, with stablecoin concept stocks continuing to show strength [1] - The CSI Big Data Industry Index (930902) fell by 0.75% as of 1:20 PM, with component stocks showing mixed performance [1] - The Data ETF (516000) also declined by 0.89%, but has seen a cumulative increase of 2.03% over the past two weeks, indicating some phase-specific vitality [1] Industry Analysis - According to CITIC Securities, there is a clear direction for computing power investment in the second half of 2025, with a significant increase in AI computing power consumption shifting from training to inference [1] - Key components such as domestic power supplies, copper connections, and liquid cooling are expected to play a crucial role under the trend of domestic autonomy [1] - Major cloud service providers are anticipated to consume over 50 trillion tokens, making leading companies in terms of output, ecosystem, and product strength worthy of attention [1] - The emergence of Agents is expected to become a focal point for technology giants, entering a rapid implementation phase that will inject technological momentum into the big data industry [1] Investment Product Overview - The Data ETF (516000) closely tracks the CSI Big Data Industry Index, selecting listed companies in data storage, analysis technology, and operational platforms, covering core segments of the data industry chain [2] - This ETF captures opportunities driven by "computing power foundation + scenario innovation" amid ongoing policy support for the digital economy and accelerated AI technology iteration [2] - The Data ETF serves as a convenient tool for investors to access core assets in the big data sector, with supporting funds allowing for flexible subscription and redemption across various scenarios [2]

Group 1 - The A-share market showed positive performance on June 16, with the Shanghai Composite Index rising by 0.35% and the ChiNext Index increasing by 0.66%, driven by the surge in themes such as stablecoins, CPO, and AI applications [1] - The CSI Big Data Industry Index (930902) experienced a strong rally, closing up 1.3%, with notable gains in constituent stocks like Hengsheng Electronics, which hit the daily limit, and Shenzhou Information and Tianxia Show, which rose by 5.67% and 5.36% respectively [1] - The Data ETF (516000), which tracks the CSI Big Data Industry Index, also performed well, closing with a gain of 1.46% at a latest price of 0.9 yuan, reflecting the heightened interest in the big data sector [1] Group 2 - Guosheng Securities highlighted that the core driver of the computing power industry comes from the certainty of technological upgrades and the phased verification of performance, with a "high-low cut" trend observed in the optical module sector since the beginning of the year [1] - The "pendulum effect" in the computing power sector reflects the interplay between the certainty of industry trends and market chip dynamics, with a focus on core segments that have strong technological barriers and high order visibility [1] - The Data ETF (516000) serves as a tool for investors to easily allocate to core assets in the big data sector, covering key areas such as data storage devices, analytical technologies, and operational platforms, amidst a backdrop of increasing policy support for the digital economy and accelerated AI technology iterations [2]

Group 1 - The core viewpoint of the news highlights the resurgence of the stablecoin concept and the strong performance of the fintech sector, driven by multiple policy catalysts and the expansion of digital currency trials in China [1] - The China Securities Big Data Industry Index (930902) rose by 1.29%, with constituent stocks like Hengsheng Electronics hitting the daily limit, and other companies such as Shenzhou Information and Tianxia Show increasing by 6.00% and 5.36% respectively [1] - Ant Group-related stocks saw significant gains, with Hengsheng Electronics being a direct driver of the sector's strength, reflecting a broader trend of positive global policy towards Web3.0 and blockchain technology [1] Group 2 - The Data ETF (516000) closely tracks the China Securities Big Data Industry Index, which includes companies in big data storage, analysis technology, and operational platforms, reflecting the overall performance of the big data and computing power industry [2] - The index captures key segments of the data industry chain, including leading technology firms and innovative companies rapidly implementing applications, thus seizing development opportunities driven by "computing power foundation + scenario innovation" [2] - The big data industry is becoming a critical sector that can withstand economic cycles, supported by policy benefits and technological advancements, with the Data ETF providing investors a tool to access core assets in this field [2]