Core Viewpoint - The semiconductor industry in China is poised for strategic advancements through high-profile events, enhancing international competitiveness and innovation efficiency [2]. Group 1: Market Performance - As of October 10, 2025, the STAR Market New Generation Information Technology Index has increased by 0.37%, with notable gains from companies like Huahong Semiconductor (up 13.54%) and Kingsoft Office [1]. - The STAR Information Technology ETF (588100) has risen by 0.20%, with a one-month cumulative increase of 10.86% as of October 10, 2025 [1]. - The STAR Information Technology ETF has seen a net value increase of 143.41% over the past three years, ranking 29th out of 1883 index equity funds [1]. Group 2: Industry Events - The 2025 Bay Area Semiconductor Industry Ecological Expo will gather key decision-makers from the global semiconductor industry to outline new development strategies [1]. - The concurrent International Third-Generation Semiconductor Innovation and Entrepreneurship Competition will focus on cutting-edge technologies in the third-generation semiconductor field [1]. Group 3: Investment Insights - Huaxi Securities suggests that such high-level industry events will provide strategic leverage for China's semiconductor industry amid global value chain restructuring [2]. - CITIC Securities indicates that the market remains focused on technology, particularly in the semiconductor sector, with a strong emphasis on upcoming technology releases and product iterations in the second half of the year [2]. - As of September 30, 2025, the top ten weighted stocks in the STAR Market New Generation Information Technology Index account for 57.93% of the index, with companies like Haiguang Information and SMIC leading the list [2].

Core Insights - The Shanghai Stock Exchange's Sci-Tech Innovation Board New Generation Information Technology Index has surged by 5.98%, with significant gains in component stocks such as Huahong Semiconductor (up 20.00%) and Hush Silicon Industry (up 15.50%) [1][3] - The Sci-Tech Information Technology ETF (588100) has also increased by 6.07%, marking its third consecutive rise [1] - The ETF has shown strong trading activity with a turnover rate of 32.69% and a transaction volume of 1.18 billion yuan, indicating a vibrant market [3] Market Performance - As of September 30, the Sci-Tech Information Technology ETF has achieved a net value increase of 136.63% over the past three years, ranking 37th out of 1883 index equity funds [3] - The ETF's highest single-month return since inception was 32.25%, with the longest consecutive monthly gains reaching four months and an overall increase of 63.37% [3] AI and Semiconductor Demand - The demand for AI computing power is rapidly expanding, driven by applications like Sora and collaborations between OpenAI and AMD, leading to increased storage needs and a recovery in NAND prices [3][4] - Trendforce forecasts a comprehensive price increase of 5% to 10% for NAND Flash products in Q4 2025 [3] - China's wafer fabrication capacity is expected to grow at a CAGR of 8.1% from 2024 to 2028, with mainstream nodes (22nm-40nm) projected to grow at a CAGR of 26.5%, potentially capturing 42% of global capacity by 2028 [3] Industry Insights - Domestic wafer foundry capabilities are advancing in both quantity and quality, supported by major companies like Deepseek, Alibaba, and Tencent increasing their reliance on domestic computing power [4] - The commercialization of AI is still in its early stages, with significant demand for computing power across various applications such as AI video, AI agents, autonomous driving, and robotics [4] Top Holdings - As of September 30, the top ten weighted stocks in the Sci-Tech Innovation Board New Generation Information Technology Index include Haiguang Information, SMIC, and Cambricon, collectively accounting for 57.93% of the index [5] - The performance of key stocks includes SMIC (up 7.10%), Haiguang Information (up 6.98%), and Cambricon (up 4.15%) [7] Investment Focus - The Sci-Tech Information Technology Index focuses on sectors such as chips, software, cloud computing, big data, and artificial intelligence, providing a comprehensive exposure to AI hardware, algorithms, models, and applications [7]

Group 1 - The core viewpoint highlights the significant growth and performance of the Sci-Tech Information Technology ETF, which has seen a 110.55% increase in net value over the past year, ranking in the top 4.15% among comparable index funds [3] - The ETF has experienced a notable increase in trading volume, with a daily average transaction of 42.96 million yuan over the past week, ranking first among comparable funds [3] - The ETF's scale has grown by 37.91 million yuan in the past two weeks, also leading among comparable funds [3] Group 2 - The research team indicates that the Chinese government's emphasis on AI's role in economic development is increasing, as evidenced by the recent policy document outlining key actions in six areas, including technology and global cooperation [4] - The document sets ambitious targets for AI penetration rates of 70% by 2027 and 90% by 2030, suggesting significant growth potential in various traditional industries [4] - The top ten weighted stocks in the new generation information technology index include major companies like SMIC and Cambricon, collectively accounting for 55.76% of the index [4] Group 3 - The Sci-Tech Information Technology Index consists of stocks from the Sci-Tech Innovation Board, focusing on sectors such as chips, software, cloud computing, big data, and artificial intelligence, providing comprehensive coverage from hardware to application layers [6] - The index is positioned to benefit from trends in AI computing power, chips, computers, and communications, making it a diversified investment option in the AI sector [6]

Group 1 - The new generation information technology index on the Sci-Tech Innovation Board has seen a strong increase of 3.41%, with key stocks like Chip Origin and Shengke Communication hitting the 20% daily limit up [1] - The Sci-Tech Information Technology ETF (588100) rose by 3.26%, with a turnover rate of 9.23% and a transaction volume of 21.19 million yuan [1] - Over the past year, the Sci-Tech Information Technology ETF has achieved a net value increase of 74.00%, ranking 278 out of 2965 in the index stock fund category, placing it in the top 9.38% [1] Group 2 - The AI computing power chain is experiencing high prosperity and strong earnings certainty, making it a core focus of the current technology market [1] - Light modules and PCBs are crucial components of the AI computing power chain, benefiting from the construction wave of AI infrastructure both domestically and internationally [1] - The entire computing power industry is entering a heated investment phase, with significant capital expenditure from major CSP manufacturers directed towards AI computing power [2] Group 3 - As of July 31, 2025, the top ten weighted stocks in the new generation information technology index account for 55.76% of the index, with companies like SMIC, Cambricon, and Haiguang Information leading the list [2] - The top ten stocks include: SMIC (10.27%), Haiguang Information (9.24%), Cambricon (8.80%), and others, indicating a diverse representation in the index [3] Group 4 - The Sci-Tech Information Technology Index consists of stocks from the Sci-Tech Innovation Board, covering various fields such as chips, software, cloud computing, big data, and artificial intelligence [5] - This index is positioned to benefit continuously from multiple trends in AI computing power, chips, computers, and communications [5]

Group 1 - The core viewpoint highlights the strong performance of the Sci-Tech Information Technology ETF, which has seen a 65.77% increase in net value over the past year, ranking in the top 11.43% among comparable funds [3] - As of August 13, 2025, the ETF has an average monthly return of 8.19% since its inception, with the highest single-month return reaching 26.31% [3] - The AI sector remains a focus for investment, with leading companies in AI occupying the top positions in market capitalization, indicating potential growth in the computer industry supported by national policies [3] Group 2 - The top ten weighted stocks in the new generation information technology index on the Sci-Tech Innovation Board include major players like SMIC and Cambricon, collectively accounting for 55.76% of the index [4] - The semiconductor equipment and components sector in China is still relatively low in domestic production rates, suggesting opportunities for companies that can achieve breakthroughs in advanced processes [3][4] - The Sci-Tech Information Technology Index covers a wide range of fields including chips, software, cloud computing, big data, and artificial intelligence, positioning it to benefit from trends in AI computing power and domestic chip upgrades [6]

Group 1 - A-shares experienced a collective rebound on August 4, with major indices rising, particularly the Sci-Tech Innovation Board, which led the recovery [1] - The Shanghai Composite Index rose by 0.66%, the ChiNext Index increased by 0.50%, and the Sci-Tech Innovation Comprehensive Index surged by 1.45% [1] - The trading activity of the "Jia Shi Sci-Tech All-in-One" ETF remained active, with the Sci-Tech Chip ETF (588200) achieving a daily increase of 2.01% and a total trading volume of 1.645 billion yuan [1] Group 2 - Most brokerages believe that the recent market correction following new highs should not alter the fundamental judgment of the current market trend, as the core logic supporting the rally remains intact [2] - Specific sectors to watch include those focused on anti-involution policies, the pharmaceutical sector benefiting from policy stimulation and improved industry chain conditions, and technology sectors driven by AI and emerging industry trends [2] - Jia Shi Fund has developed a comprehensive "Sci-Tech All-in-One" series, which includes a range of ETFs targeting both broad-based and high-growth sectors, facilitating investors' choices based on their risk-return preferences [2]