12月25日早盘，市场盘整，重点布局国产AI产业链的科创人工智能ETF（589520）随市回调，场内价格现跌0.35%，值得关注的是，该ETF场内溢价频现， 显示买盘资金更为强势，或有资金逢跌进场布局！ | 序号 名称 | | 涨跌幅 ▼ 两日图 | 申万一级行业 | 申万二级行业 | 申万三级行业 | 总市值 | 成交额 | | --- | --- | --- | --- | --- | --- | --- | --- | | 12 | 中科是图 | 3.92% Career of the control of the control of the control of the controlled | 计算机 | IT服务II | IT服务Ⅲ | 407亿 | 8.21亿 | | 2 | 是环科技-U | 2.43% J | 计算机 | 软件开发 | 横向通用软件 | 128亿 | 5.62 Z | | 3 | 奥比中光-UW | 1.85% num | 电子 | 光学光电子 | 光学元件 | 332 Z | 2.54 Z | | ব | 云天励飞-U | 1.24% - | 计算机 | IT服务II | ...

【国产替代之光，科创自立自强】 科技摩擦背景下，信息安全、产业安全重要性凸显。AI作为核心技术，实现自主可控至关重要。科创 人工智能ETF（589520）及其联接基金（联接A：024560，联接C：024561）重点布局国产AI产业链、 具备较强国产替代特点，前十大重仓股权重占比逾七成，第一大重仓行业半导体占比超一半，集中度 高，具备较强进攻性。同时，该ETF是融资融券标的，是一键布局国产算力的高效工具。 风险提示：科创人工智能ETF及其联接基金被动跟踪上证科创板人工智能指数，该指数基日为 2022.12.30，发布于2024.7.25，该指数2023年、2024年的年度涨跌幅分别为：12.68%、32.36%，指数成 份股构成根据该指数编制规则适时调整，其回测历史业绩不预示指数未来表现。本文中提及的个股、指 数成份股仅作展示，个股描述不作为任何形式的投资建议，也不代表管理人旗下任何基金的持仓信息和 交易动向。基金管理人评估科创人工智能ETF华宝的风险等级为R4-中高风险，适宜积极型（C4）及以 上的投资者，适当性匹配意见请以销售机构为准。任何在本文出现的信息（包括但不限于个股、评论、 预测、图表、指标、理论 ...

来源：新浪基金 今日（12月23日）重点布局国产AI产业链的科创人工智能ETF（589520）场内价格早盘摸高0.88%，现 涨0.18%，盘中收复10日均线。成份股方面，寒武纪领涨超3%，晶晨股份、天准科技、乐鑫科技等个股 跟涨。 今年以来，中国AI行业继续突飞猛进，特别是春节期间DeepSeek崛起后，众多国产AI大模型步入了"深 度思考"时代。目前，A股AI芯片行业三巨头寒武纪、摩尔线程、沐曦股份的市值加起来已经超过1万亿 元，但距4.4万亿美元（约30万亿元人民币）市值的英伟达，仍有巨大的差距。 【国产替代之光，科创自立自强】 科技摩擦背景下，信息安全、产业安全重要性凸显。AI作为核心技术，实现自主可控至关重要。科创 人工智能ETF（589520）及其联接基金（联接A：024560，联接C：024561）重点布局国产AI产业链、 具备较强国产替代特点，前十大重仓股权重占比逾七成，第一大重仓行业半导体占比超一半，集中度 高，具备较强进攻性。同时，该ETF是融资融券标的，是一键布局国产算力的高效工具。 风险提示：科创人工智能ETF及其联接基金被动跟踪上证科创板人工智能指数，该指数基日为 2022.12.3 ...

Group 1 - The Ministry of Industry and Information Technology issued the "Guidelines for High-Standard Digital Park Construction," emphasizing the need to enhance digital infrastructure, including the upgrade of network infrastructure and the optimization of computing power infrastructure [1] - CITIC Securities noted increased volatility in the computing power sector, suggesting that the ongoing demand for computing power driven by AI remains strong, presenting opportunities despite recent adjustments [1] - Huatai Securities highlighted that the AI industry chain's congestion has decreased to a low since July, indicating that domestic computing power and AI applications are worth focusing on [1] Group 2 - Hualong Securities pointed out that the core value of the domestic AI industry chain lies in meeting China's urgent need for self-controlled technology across the entire industry chain, with breakthroughs in open-source and AI chips paving new paths for development [2] - The domestic AI industry is expected to enter a sustainable growth cycle due to the widespread application of AI technology and continuous hardware performance iterations [2] - The Sci-Tech Innovation Artificial Intelligence ETF (589520) saw a price increase of 0.7% intraday, indicating a potential upward trend after recovering the 5-day moving average [2] Group 3 - In terms of constituent stocks, companies like Amlogic and Lingyun Optics led gains, with Amlogic rising over 3% and Lingyun Optics over 2% [4] - The ETF focuses on the domestic AI industry chain, emphasizing companies with strong domestic substitution characteristics, benefiting from the acceleration of AI processes in edge chips and software [6] - The top ten holdings of the ETF account for over 70% of its weight, with the semiconductor sector representing more than half, indicating a high concentration and strong offensive potential [6]

Core Viewpoint - The domestic AI industry chain is experiencing significant investment opportunities driven by policy support, technological breakthroughs, and improving performance metrics. Group 1: Investment Opportunities - The domestic AI technology is transitioning from conceptual discussions to practical applications, with domestic large models making breakthroughs and internet companies increasingly using "Chinese chips" for model training [3] - The performance of the companies within the Sci-Tech Innovation AI ETF (589520) is validating the industry's potential, with 20 out of 30 constituent stocks reporting profits and 22 showing year-on-year net profit growth, including a remarkable 321% increase in net profit for Cambrian [3] - The new five-year plan emphasizes enhancing "self-reliance in technology," which includes a strong focus on AI, indicating long-term support for the AI and domestic substitution sectors [3] Group 2: Market Dynamics - External pressures, such as geopolitical tensions, are driving the importance of technological security, which in turn accelerates the domestic AI industry chain's localization process [4] - The Sci-Tech Innovation AI ETF (589520) and its associated funds are strategically positioned to capitalize on the domestic AI industry, focusing on companies that dominate their respective segments [5] - The ETF structure allows for lower entry barriers for investors and offers higher efficiency during market surges due to its concentrated holdings, with over 70% of the top ten stocks and more than half of the weight in the semiconductor sector [5]

Market Overview - The US stock market experienced a significant decline, with all three major indices dropping, which also affected the Asia-Pacific stock markets. The volatility is attributed to short-term liquidity concerns, including worries about US reserves, government shutdown risks, and a sharp drop in cryptocurrency values. Historically, such liquidity-driven market adjustments tend to recover quickly once emotions stabilize, suggesting more opportunities than risks overall [1][2]. Chinese Stock Market Outlook - UBS Securities remains optimistic about the Chinese stock market despite recent volatility, citing a gradual recovery in overall earnings, continuous net inflows of various off-market funds, and a supportive narrative around technology that aids in valuation reconstruction. The mid-term upward drivers for the stock market remain unchanged [1][2]. AI Industry Insights - The Sci-Tech Innovation Artificial Intelligence ETF (589520) focuses on 30 robust AI companies from the Sci-Tech Innovation Board, which provide essential resources, technology, and application support for AI. The industry is transitioning from a "storytelling" phase to a "practical" phase, with significant advancements in domestic AI models and increased willingness from enterprises to pay for AI applications. The year 2025 is anticipated to be a pivotal year for AI commercialization [1][2]. Policy Support for AI - The new five-year plan emphasizes the comprehensive implementation of the "Artificial Intelligence+" initiative, aiming for a transition to an intelligent economy and society by 2035, reflecting the government's commitment to AI development [2][4]. Market Growth Projections - Professional institutions forecast that China's AI industry will grow at an average annual rate of 32.1% over the next five years, with the overall market size expected to exceed 1 trillion by 2029. The importance of technological self-reliance is highlighted amid complex international circumstances, accelerating the domestic AI industry chain's localization process [2][4]. ETF Performance and Investment Strategy - The Sci-Tech Innovation Artificial Intelligence ETF (589520) has seen a recent price drop of over 2%, currently down 1.52%. However, it has attracted significant investment, with a total of 21.59 million yuan in inflows over the past three days, indicating strong confidence in future performance. Key stocks within the ETF include Tianzhun Technology and Stone Technology, which have shown positive performance, while others like Foxit Software have seen declines [2][5]. Highlights of the ETF - The ETF is positioned to benefit from top-level policies that ignite AI growth, focusing on companies that are leaders in their respective segments. The emphasis on domestic AI industry chain and the importance of information security and industrial safety are critical in the current geopolitical climate. The ETF offers a low-threshold investment opportunity with a high degree of operational efficiency during market surges, with over 70% of its top ten holdings concentrated in the semiconductor sector [4][5].

Core Insights - The technology sector, particularly the domestic AI industry chain, is experiencing significant growth, with the Sci-Tech Innovation Artificial Intelligence ETF (589520) seeing a jump of over 2.8% in intraday trading, currently up by 2.66% [1] - Key stocks driving this growth include Lanke Technology, which rose over 5%, and other companies like Hengxuan Technology and Hongsoft Technology, which increased by more than 4% [1] Policy and Market Trends - A recent major conference has highlighted the importance of high-quality development and the acceleration of self-reliance in technology, which is expected to be a central theme in upcoming policies [2] - The urgency for domestic computing power replacement is increasing due to U.S. restrictions on advanced chip exports to China, with expectations for continued breakthroughs in domestic computing capabilities [3] Investment Highlights - The Sci-Tech Innovation Artificial Intelligence ETF (589520) and its linked funds are positioned to benefit from several key factors: 1. Policy support is igniting AI growth, with the sector expected to lead the current market rally [4] 2. The focus on domestic alternatives and self-control in technology is becoming increasingly important amid rising tech tensions [4] 3. The ETF offers high elasticity with a 20% price fluctuation limit, allowing for efficient investment during market surges [4] Top Holdings - As of September 30, 2025, the top ten holdings of the Sci-Tech Innovation Artificial Intelligence Index account for over 71.90% of the total weight, with the semiconductor sector being the largest, comprising 52.6% [5]