注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 （文章来源：每日经济新闻） 计算机ETF（512720）跟踪的是CS计算机指数（930651），该指数从A股市场中选取涉及软件开发、信 息技术服务等领域的上市公司证券作为指数样本，以反映计算机行业相关上市公司证券的整体表现。指 数成分股主要聚焦于具有技术创新能力和市场潜力的成长型企业，能够较好地体现计算机行业内优质企 业的综合发展水平。 国泰海通指出，OpenAI推出的AgentKit为开发者提供了简便、快捷的Agent开发工具包，通过可视化画 布"Agent Builder"和可嵌入聊天组件"ChatKit"简化开发流程，并支持与企业内部数据和工具的连接。同 时，OpenAI通过Apps SDK推动ChatGPT成为"AI操作系统"，开发者可在ChatGPT内构建交互式应用程 序，利用强大的上下文理 ...

Core Insights - The rapid iteration in the large model field is highlighted, with advancements such as Sora2's impressive and controllable video generation, Claude Sonnet 4.5 being recognized as the strongest programming model, and Zhiyu GLM-4.6 leading in code capabilities domestically [1] - The introduction of consumer support policies and pilot cities encouraging innovative consumption scenarios and IP development is creating new opportunities for the computer and software development industry [1] Industry Overview - The Computer ETF (512720) tracks the CS Computer Index (930651), which selects listed companies involved in software development, IT services, and hardware manufacturing from the Chinese A-share market to reflect the overall performance of the computer industry [1] - The CS Computer Index is characterized by high technological content and growth potential, effectively representing market trends in the computer sector [1]

Group 1 - The core viewpoint is that Agent technology is achieving human-like replacement, moving beyond traditional software assistance, with Chinese enterprises showing a higher willingness to pay for Agent applications that can quickly reduce costs and have a return on investment (ROI) greater than 1 [1] - The software business model is shifting towards SaaS subscriptions, with traditional software focusing on efficiency but having ambiguous ROI calculations, while Agent technology reduces hallucinations and improves delivery quality, accelerating commercialization [1] - The total target market for Agent technology is approximately 3.61 trillion yuan, which is expected to reshape the trillion-yuan white-collar labor market, with IT and finance being core breakthrough areas [1] Group 2 - Domestic large models are lagging behind overseas counterparts by about six months, but companies like DeepSeek and Alibaba are rapidly iterating, with expectations to break through by the first half of 2026 [1] - The CS Computer Index, which the Computer ETF (512720) tracks, selects listed companies involved in software development, IT services, and hardware manufacturing to reflect the overall performance of computer-related securities [1] - The CS Computer Index focuses on the computer industry, emphasizing balanced allocation within the sector and comprehensively tracking the development of computer technology and market changes [1]

Group 1 - The computer sector, particularly in areas like AI industry chain, intelligent driving, and overseas expansion, is experiencing favorable conditions [1] - Profitability is expected to benefit from base effect, workforce reduction, efficiency improvements, and cost savings driven by AI, with performance anticipated to exceed revenue growth [1] - The second half of the year is expected to show stronger operational intensity compared to the first half, with significant progress in AI implementation projected to achieve multiple growth compared to the first half [1] Group 2 - High-certainty AI implementation directions include hardware-software integrated edge AI hardware, C-end overseas software, B-end enterprise services and manufacturing information technology, and G-end private deployment of large models [1] - The CS Computer Index (930651) tracks companies involved in software development, IT services, and hardware manufacturing, reflecting the overall performance of listed companies in the computer industry [1] - Investors without stock accounts can consider the Guotai Zhongzheng Computer Theme ETF Link C (010210) and Guotai Zhongzheng Computer Theme ETF Link A (160224) [1]

Group 1 - The core viewpoint is that DeepSeek's V3.1 model, utilizing the innovative "UE8M0" FP8 architecture, is optimized for next-generation domestic chips, which is expected to create a synergistic ecosystem in the AI computing power sector [1] - Hong Kong Stock Exchange's research on extending trading hours and advancing T+1 settlement mechanism is anticipated to enhance market efficiency, benefiting the financial IT sector and promoting upgrades in stock trading software and securities IT systems [1] - Three centralized databases have passed secure and reliable assessments, indicating an increase in entry barriers for trusted databases, leading to a further concentration of market share among leading firms [1] Group 2 - The AI application deployment is accelerating, supported by policies such as the computing power vouchers and model vouchers introduced in Shanghai, which further drive industry development [1] - The Computer ETF (512720) tracks the CS Computer Index (930651), which selects listed companies involved in computer hardware, software, and services from the Shanghai and Shenzhen markets to reflect the overall performance of the computer industry [1] - Investors without stock accounts can consider the Guotai Zhongzheng Computer Theme ETF Link A (160224) and Guotai Zhongzheng Computer Theme ETF Link C (010210) [1]

Group 1 - The computer sector shows promising trends in subfields such as AI industry chain, intelligent driving, domestic substitution, and overseas expansion [1] - Profitability is benefiting from base effect, workforce reduction, and cost savings enabled by AI, with operational intensity expected to improve in the second half of the year compared to the first half [1] - The AI industry chain remains a core focus, with significant progress in the first half of the year and expected exponential growth in the second half, particularly in areas like edge AI hardware, C-end overseas software, B-end enterprise services, and G-end large model privatization deployment [1] Group 2 - The computer ETF (512720) tracks the CS Computer Index (930651), which selects listed companies involved in software development, IT services, and hardware manufacturing to reflect the overall performance of the computer industry [1] - The index emphasizes technological innovation and information technology development, effectively representing the overall performance and development trends of the computer industry [1] - Investors without stock accounts can consider the Guotai Zhongzheng Computer Theme ETF Connect A (160224) and Connect C (010210) [1]

Group 1 - The core viewpoint is that GPT-5 has exceeded expectations in programming capabilities, reducing hallucinations, and cost-effectiveness, leading to a significant decrease in input-output token prices, which accelerates AI implementation in production sectors [1] - Current enterprise AI demand is focused on data value extraction and embedding into industry workflows, with new generation ERP systems needing to be data-driven and AI intelligent [1] - In the US stock market, sectors such as marketing, advertising, cybersecurity, and data integration are performing well, particularly companies targeting small businesses and government enterprises showing significant growth [1] Group 2 - Domestic open-source large models rank among the best globally, laying a foundation for localized deployment [1] - There is a notable disparity between the software industries in China and the US, with China's potential for AI application development being greater due to macroeconomic recovery, customization implementation capabilities, and higher software spending growth rates [1] - The Computer ETF (512720) tracks the CS Computer Index (930651), which selects listed companies involved in software development and IT services from the Chinese A-share market to reflect the overall performance of the computer industry [1]

今日A股三大指数集体上涨，沪指涨0.85%，深成指涨1.73%，创业板指涨2.84%，北证50指数涨6.79%，全市场成交额28091亿元。 今日软件ETF（515230）涨幅达4.22%。 上涨驱动因素分析 市场活跃度显著提升：8月13日以来，沪深两市合计成交额持续维持在2万亿以上，今日成交额更是达到2.81万亿。此外，截至8月15日A股两融余额也破了2 万亿元。股民"跑步进场"，市场风险偏好和交易热情"水涨船高"。金融科技从中受益明显，炒股软件概念再度爆发，持续吸引资金集中流入。 稳定币有望提升人民币国际化进程：传统国际支付无法做到支付即清算，都需要一定的时间完成，且传统金融机构账户的设立相比区块链账户要复杂许多。 而稳定币具有简洁的账户体系，用户之间的转账汇款极为便利，能够显著提高跨境支付的交易速度，并降低交易成本，有望进一步提升人民币国际化进程。 感兴趣的投资者可适当关注软件ETF（515230）和计算机ETF（512720）：软件ETF（515230）涵盖从事应用软件、系统软件开发及相关服务的企业，聚焦 信息技术创新与应用领域，具有显著的技术驱动特征和高成长性；计算机ETF（512720）涵盖计算机 ...

Group 1 - The AI industry chain, intelligent driving, domestic substitution, and overseas expansion are highlighted as key areas of growth within the computer sector, with profit performance expected to outperform revenue due to cost savings from AI empowerment and efficiency improvements [1] - The AI industry chain remains a core focus, with significant progress made in the first half of the year and expectations for exponential growth in the second half, particularly in areas such as edge AI hardware, consumer software for overseas markets, enterprise services, and private deployment of large models for government [1] - The performance of various sub-sectors shows high prosperity in AI computing power and lidar, while AI applications are accelerating; stable growth is observed in software outsourcing, financial IT, and quantum computing, with some pressure on industrial software and medical IT [1] Group 2 - The computer and software development industry is experiencing a divergence driven by AI technology, with GPT-5 exceeding expectations in programming capabilities and cost efficiency, leading to a significant reduction in input/output token prices compared to GPT-4.1 [2] - Current enterprise AI demand is focused on data value extraction and deep integration into industry workflows, with 75% of enterprises expecting ERP systems to provide real-time intelligent data services [2] - Domestic open-source large models are performing well globally, and the pace of AI application implementation in China is expected to be faster than overseas due to macroeconomic recovery and customization capabilities [2] Group 3 - The computer ETF (512720) tracks the CS Computer Index (930651), which selects listed companies involved in software development and IT services to reflect the overall performance of the computer industry [3] - The index is characterized by high growth potential and technological orientation, effectively representing the overall development trend of China's computer industry [3] - Investors without stock accounts can consider related ETFs for exposure to the computer sector [3]

Group 1 - The core viewpoint is that the stablecoin sector is experiencing a surge, particularly with news that Fosun International is reportedly applying for a stablecoin license in Hong Kong, which has led to a collective rise in stablecoin-related stocks [1] - The Hong Kong Stablecoin Regulation has officially come into effect as of August 1, with the Hong Kong Monetary Authority releasing guidelines for licensed stablecoin issuers, outlining requirements such as financial conditions, personnel qualifications, reserve assets, and custody redemption [1] - Institutions wishing to apply for a stablecoin issuer license must submit their applications by September 30, indicating a structured regulatory framework aimed at maintaining financial stability and promoting innovation in virtual asset activities in Hong Kong [1] Group 2 - The Chinese government is increasingly focused on stablecoins, as evidenced by a recent meeting held by the Shanghai State-owned Assets Supervision and Administration Commission to discuss the development trends and strategies for cryptocurrencies and stablecoins [1] - Traditional international payments are slower and more complex compared to stablecoin transactions, which offer a simplified account system that enhances the speed and reduces the cost of cross-border payments, potentially aiding the internationalization of the Renminbi [2] - Investors are encouraged to consider related ETFs, such as the Computer ETF (512720) and Software ETF (515230), as potential investment opportunities in light of the growing stablecoin market [2]