The demand for high-speed optical modules continues to rise! "Yi Zhongtian" teams up to boost, Huabao Fund's ChiNext Artificial Intelligence ETF (159363) closes with four consecutive weekly gains.

On Friday (April 3), the ChiNext AI sector rose against the trend. Optical module, optical fiber concepts, and other optical communications areas were active. Luxcore Technology surged more than 11%, hitting a new high again. “Yi Zhongtian” rallied collectively. Zhongji Xuchuang rose more than 4%, Tianfu Communications rose more than 3%, and Sunyisho rose more than 1%.

For popular ETFs, under the same category size and with liquidity leading, the Huabao ChiNext AI ETF (159363) broke through the resistance and closed up 1.06% against the trend. Trading volume expanded, with turnover exceeding 700 million yuan. Over the past five days, investors added more than 100 million yuan. With market volatility, next week the weekly line will deliver a four-day streak of gains!

On the news front, the prices of fiber optic and cable products have repeatedly hit new highs. The spot price of mainstream G.652D standard single-mode fiber has already broken above 105 yuan per fiber-kilometer, with a cumulative increase of over 425%. The premium for high-end products is evident. The price of the special high-end product suited for AI compute infrastructure, G.654.E special fiber, has even risen to 240—260 yuan per fiber-kilometer. Meanwhile, advanced hollow-core fiber has risen to 25k—50k yuan per fiber-kilometer. Overall, the fiber optic and cable market is showing a trend of “rising both volume and price.”

The rise in fiber optic and cable prices is directly tied to the surge in optical module demand. With large-scale deployment of 800G/1.6T high-speed optical modules in AI data centers, optical fiber with lower loss and higher bandwidth is needed to ensure link budget and signal quality, forcing fiber to upgrade from G.652D to G.654E. Optical modules and fiber are a tightly coupled relationship of “transmit/receive end + transmission medium.” The higher the optical module rate, the more stringent the performance requirements for fiber, and the larger the pricing premium space for high-end fiber.

Looking ahead, according to Shenwan Hongyuan Securities, AI-driven optical module demand is rapidly expanding. As AI develops quickly, demand for compute power across industries is growing sharply. As an intelligent computing center serving as specialized infrastructure for high-power and high-bandwidth GPU clusters, demand for high-rate optical modules is steadily rising. In the future, domestic optical module equipment companies are expected to benefit from both industry growth and share increases in a “double boost.”

To seize AI compute power opportunities, it is recommended to focus on the ChiNext AI ETF (159363) for optical module leaders, as well as the OTC connection funds (Class A 023407, Class C 023408). These directly benefit from the growth dividend brought by the commercialization explosion of AI technology. From the sector perspective, the ChiNext AI strategy allocates about 70% of its portfolio to compute power (optical modules/CPO leaders) and about 30% to AI applications. This is not only a “compute power” core, but also a real representative of “AI applications.”

Data source: Shanghai and Shenzhen stock exchanges, etc.

Institutional viewpoint reference source: Shenwan Hongyuan Securities’ “AI compute-power drives an explosion in optical module demand;国产 equipment faces major opportunities”

ETF fund-related fee explanations: When investors apply for subscriptions or redeem fund shares, the subscription/redemption agent institutions may charge a commission not exceeding 0.5% of the standard. Exchange-traded transaction fees shall be subject to what the securities company actually charges, and no sales service fee is charged.

Connected fund-related fee explanations: The initiated connection C of the ChiNext AI ETF does not charge a subscription fee; the redemption fee is 1.5% within 7 days, and 0% on or after 7 days (inclusive). The sales service fee is 0.3%. The initiated connection A of the ChiNext AI ETF has a subscription fee of 1% for amounts below 1 million yuan, 0.6% for 1 million yuan (inclusive) to 2 million yuan, and 1,000 yuan per transaction for amounts above 2 million yuan (inclusive). The redemption fee is 1.5% within 7 days, and 0% on or after 7 days (inclusive). No sales service fee is charged.

Risk warning: Huabao’s ChiNext AI ETF passively tracks the ChiNext AI Index. The base date of the index is 2018.12.28, the release date is 2024.7.11. The annual returns of the ChiNext AI Index for 2021–2025 are, respectively: 17.57%, -34.52%, 47.83%, 38.44%, and 106.35%. The composition of index constituent stocks is adjusted in a timely manner according to the index compilation rules; its backtested historical performance does not predict the index’s future performance. The constituent stocks mentioned in the article are for illustrative purposes only. The descriptions of individual stocks do not constitute any form of investment advice, and do not represent the positions held by any funds under the manager, or any trading trends. The risk level of this fund assessed by the fund manager is R4—medium-high risk, suitable for proactive investors (C4) and above. Any fit guidance opinion shall be subject to the sales institution. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of statements) is for reference only. Investors must be responsible for any investment actions they decide to take independently. Also, any viewpoints, analyses, and forecasts in this article do not constitute any form of investment advice to the readers, nor shall any direct or indirect losses arising from the use of the contents of this article be borne by the article. Investing in funds involves risk. Past performance of a fund does not indicate its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of this fund’s performance. Investors should exercise caution when investing in funds.

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