Group 1 - The AI hardware sector showed a V-shaped reversal trend, with active performance in the Apple supply chain stocks, particularly the 5G communication ETF (515050) which rose by 1.12% [1] - The iPhone 17 series is expected to feature the largest design change in five years, with four models adopting differentiated camera module layouts [1] - The iPhone 17 Pro series will be equipped with the A19 Pro chip based on TSMC's 3nm process, while the standard iPhone 17 and iPhone 17 Air will use the new A19 chip [1] Group 2 - The 5G communication ETF (515050) has a deep investment in AI computing hardware, Apple supply chain, and leading stocks in the 6G industry, with a total scale of 7 billion [2] - Apple concept stocks account for over 30% of the ETF, while optical module CPO concept stocks and PCB circuit board concept stocks represent 31% and 15.95% respectively [2] - The top ten weighted stocks in the ETF include companies like ZTE, Luxshare Precision, and GoerTek [2]

Group 1 - The A-share computing power industry chain is active, with a focus on optical modules, servers, and PCB leaders, as evidenced by the 5G Communication ETF (515050) rising over 2% in intraday trading [1] - China Mobile announced its 1H2025 performance, indicating a strategic investment increase in AI computing power, with capital expenditure of 58.4 billion yuan for the first half of 2025 and a full-year guidance of 151.2 billion yuan [1] - The total intelligent computing scale reached 61.3 EFLOPS in 1H2025, with self-built intelligent computing capacity at 33.3 EFLOPS and over 660,000 IDC racks for external services [1] Group 2 - The 5G Communication ETF (515050) tracks the CSI 5G Communication Theme Index, with a latest scale exceeding 6 billion yuan, focusing on the Nvidia, Apple, and Huawei supply chains [2] - The optical module CPO concept stocks account for 31% of the ETF's weight, while PCB circuit board concept stocks account for 15.95% [2] - The top ten weighted stocks include companies like Zhongji Xuchuang, Xinyi Sheng, and Lixun Precision, indicating a strong presence in the AI computing hardware and 6G industry chain [2]

Core Viewpoint - The recent surge in capital expenditure by major overseas tech companies indicates a robust long-term outlook for global computing infrastructure, particularly in AI and related sectors [1][2]. Group 1: Market Performance - A-shares opened higher and showed mixed performance with strong sectors including photolithography machines, satellite internet, consumer electronics, and 6G, while AI concepts like DeepSeek experienced a pullback [1]. - The AI-focused ETF, Huaxia (159381), saw a net inflow of 35.74 million yuan over the past 10 trading days, indicating strong investor interest [1]. Group 2: Capital Expenditure Trends - Major tech companies such as Google, Meta, Microsoft, and Amazon have collectively raised their capital expenditure plans for 2025 to meet increasing customer demand, with Amazon's quarterly capital expenditure soaring by 90% year-on-year [1]. - This investment trend is primarily directed towards AI data center expansions, large model training computing power reserves, and upgrades to cloud service infrastructure [1]. Group 3: ETF Details - The 5G Communication ETF (515050) tracks the CSI 5G Communication Theme Index and has a scale exceeding 6 billion yuan, focusing on key players in the AI computing hardware and 6G industry [2]. - The Huaxia AI ETF (159381) tracks the ChiNext AI Index, with a weight of over 41% in photonic modules and a management fee rate of 0.15%, making it one of the lowest in its category [2]. - The AI ETF (515070) selects stocks from the main board, ChiNext, and STAR Market, providing a comprehensive investment approach to the AI sector [2].

Group 1 - The A-share PCB concept stocks remain active, with notable increases in companies such as Pengding Holdings, Dongshan Precision, and Xingsen Technology, reflecting strong market interest [1] - AI-PCB is experiencing a demand resonance, with multiple AI-PCB companies reporting strong orders and full production capacity, leading to significant growth in Q3 performance [1] - Huidian Co. has released an optimistic Q2 earnings forecast, expecting a net profit of 0.89 to 0.99 billion yuan, representing a year-on-year growth of 42% to 58%, driven by structural demand from emerging computing scenarios like AI [1] Group 2 - The 5G Communication ETF (515050) tracks the CSI 5G Communication Theme Index, with a current scale exceeding 7 billion yuan, focusing on key players in the Nvidia, Apple, and Huawei supply chains [2] - AI computing concept stocks account for over 30% of the ETF's weight, while optical module CPO concept stocks represent 26.55%, and PCB circuit board concept stocks make up 13.49% [2]

Group 1 - The AI computing power industry chain is experiencing a surge, with active performance in optical modules and PCB concepts, as evidenced by the 5G communication ETF (515050) rising by 0.98% and peaking at 1.58% during trading [1] - The 5G communication ETF tracks the CSI 5G communication theme index, with a current scale exceeding 60 billion yuan, focusing on key players in the Nvidia, Apple, and Huawei supply chains across various sectors including optical modules, PCB, 6G, AI computing power, consumer electronics, semiconductors, communication equipment, servers, and IoT [1] - Alphabet announced a 13% increase in capital expenditure for 2025, reaching 85 billion dollars, driven by strong and growing demand for cloud products and services, up from an earlier forecast of 75 billion dollars for the year [1] Group 2 - The AI-PCB industry chain is experiencing high prosperity, rapidly driving the application of upstream high-speed copper-clad laminates and other materials, with major tech companies like Google, Amazon, and Meta increasing their self-developed ASIC chip initiatives [2] - The demand for servers, motherboards, and high-frequency high-speed PCBs is expected to rise sharply as the GB200 servers enter a ramp-up phase in the second half of the year, followed by the GB300 shipments [2]

Group 1 - The A-share market showed strong performance on July 8, with the 5G Communication ETF (515050) rising by 2.7%, and its constituent stocks like Jingwang Electronics increasing over 9% [1] - The 5G Communication ETF (515050) is currently the largest ETF tracking the 5G communication theme in the market, focusing on the supply chains of Nvidia, Apple, and Huawei, covering various sectors including AI computing, 6G, consumer electronics, PCB, communication equipment, servers, optical modules, and IoT [1] - As of July 6, the PE valuation of the ETF was 29.45 times, placing it in the 35th percentile of valuations over the past decade, indicating it is cheaper than over 65% of the historical range [1] Group 2 - Since June, there has been a noticeable divergence within the AI sector, with upstream hardware like PCB and optical modules outperforming midstream software services and downstream applications [2] - The North American computing chain, represented by "Yizhongtian," has significantly outperformed domestic computing chains like SMIC and Cambrian, driven by performance metrics [2] - Factors such as easing tariff concerns and North American cloud providers reaffirming increased AI capital expenditures have led to a substantial upward revision in performance expectations for the North American computing chain since Q2 [2]

Core Insights - The A-share market showed a mixed performance on July 7, with notable declines in previously active sectors such as optical modules, optical communications, and AI computing concepts [1] - The 5G Communication ETF (515050) fell over 1.5%, with active trading and a transaction volume exceeding 200 million yuan, while key holdings like Dongshan Precision, GoerTek, Tianfu Communication, and Huitian Electronics dropped over 3% [1] - Huatai Securities highlighted several recent catalysts in the AI sector, including Nvidia reaching a historic market cap of 3.92 trillion USD, surpassing Apple's previous record [1] - CoreWeave's deployment of Nvidia's GB300NVL72 system significantly increased output by 50 times compared to the previous generation [1] - Century Internet raised its performance guidance, adjusting net revenue expectations from 9.1-9.3 billion yuan to 9.15-9.35 billion yuan, driven by faster-than-expected entry of wholesale IDC clients and improved operational efficiency [1] - The demand for AI training is resonating globally, suggesting an uptick in the computing power sector, with investment opportunities in related industries such as optical modules, copper connections, AIDC, machinery, and liquid cooling [1] ETF Overview - The 5G Communication ETF (515050) tracks the CSI 5G Communication Theme Index and is currently the largest 5G communication-themed ETF in the market [2] - It focuses on the supply chains of Nvidia, Apple, and Huawei, covering various sectors including AI computing, 6G, consumer electronics, semiconductors, PCB, communication equipment, servers, optical modules, and IoT [2] - As of July 6, the ETF's PE ratio was 29.45, placing it in the 35th percentile of valuations over the past decade, indicating it is cheaper than over 65% of the historical range [2]

Group 1 - AI hardware sector showed strong performance on July 3, with significant increases in servers, circuit boards, optical modules, and consumer electronics [1] - The 5G Communication ETF (515050) rose by 2.34%, with Industrial Fulian increasing over 8%, and other stocks like Pengding Holdings, Shenzhen South Circuit, and Dongshan Precision also performing well [1] - The total trading volume of the ETF exceeded 140 million yuan during the session [1] Group 2 - Galaxy Securities anticipates a recovery in the AI computing industry chain in the second half of the year, presenting new investment opportunities [1] - Key sectors for investment include operators, optical communication, satellite internet, and quantum technology [1] - The AI Computing and related industries, including Nvidia and Apple supply chains, are recommended for investment focus [1] Group 3 - The创业板人工智能ETF华夏 (159381) tracks the AI index of companies listed on the ChiNext board, with a daily price fluctuation limit of ±20% [2] - The fund has a management fee rate of 0.15% and a custody fee rate of 0.05%, making it one of the lowest in its category [2] - The index has over 30% weight in optical modules, including leading companies like NewEase, Zhongji Xuchuang, and Tianfu Communication [2]

6月24日早盘，A股主要指数直线冲高。盘面上，航空运输、车路云、智能驾驶、IDC算力租赁等概 念表现活跃。截至9:35，5G通信ETF（515050）涨1.19%，电连技术、广和通、兆易创新、星网锐捷、 四维图新等领涨。 近两周，受益于AI算力链反复活跃，5G通信ETF（515050）规模增长6354.75万元。有证券机构表 示，首推北美AI硬件供应链，板块回调后仍可参与。近两周板块涨幅较大，可能有休整的阶段，但是 受益于AI推理集群对ASIC芯片需求增长，光模块和PCB的需求增速还在上修，核心公司估值仍然合 理。我们看到板块背后的本质驱动力还是北美推理算力需求仍在快速增长，尤其是科技大厂开始从模型 军备竞赛步入抢夺用户的阶段，加速传统互联网应用向AI应用迁移。 资料显示，5G通信ETF（515050）跟踪中证5G通信主题指数，深度聚焦英伟达、苹果、华为产业 链，覆盖了多个AI算力、6G、消费电子、半导体、PCB、通信设备、服务器、光模块、物联网等细分 行业的龙头个股。相关ETF全称：华夏中证5G通信主题ETF（515050），场外联接（A类：008086；C 类：008087）。 每日经济新闻 （责任编辑： ...

Group 1 - The A-share market for optical modules and optical communication within the AI computing power industry chain has shown a strong rebound, with significant increases in related ETFs [1] - The 5G communication ETF (515050) has seen a net inflow of 71.62 million yuan over the past four trading days, indicating strong investor interest [2] - Major companies in the AI computing power infrastructure, such as Nvidia and Broadcom, are performing well, supported by favorable domestic policies and a high growth trend in computing power infrastructure [1][2] Group 2 - The 5G communication ETF (515050) tracks the CSI 5G Communication Theme Index and is the largest ETF in the market focused on 5G, AI computing power, and the Nvidia supply chain [2] - The ETF covers leading stocks across various sectors, including AI computing power, 6G, consumer electronics, semiconductors, PCB, communication equipment, servers, optical modules, and the Internet of Things [2]