The four major positives ignite, "Computing and Power Collaboration" fully activated! Huabao Fund's Growth Enterprise Market Artificial Intelligence ETF surges 3.7% with high volume, and the Power ETF approaches its previous high!

Wednesday (March 25), computing power and electricity sectors once again strengthen together!

In terms of computing power, CPO optical modules, IDC computing power leasing, and other sectors are actively engaged across the board. Aurasweb Network’s stock touched the 20% daily limit, Chuangxin Data, Aofei Data, and others rose over 7%, Tianfu Communication up over 6%, Zhongji Xuchuang up over 4%. The leading artificial intelligence ETF on the ChiNext, Huabao (159363), closed up 3.7% within the market, surpassing all moving averages with a trading volume exceeding 700 million yuan!

The green energy sector is igniting the electricity industry, with Guangdong Power A, Baoxin New Energy, Gansu Energy, Energy-saving Wind Power, Zhejiang New Energy, and others hitting the daily limit. The electric power ETF Huabao (159146), which has a full electric layout of “wind, solar, water, fire, nuclear,” rose 2.67% on high volume, approaching previous highs!

Analysis indicates that the current computing power technology sector, represented by CPO optical modules, is benefiting from four major favorable factors:

• First, the geopolitical risk premium has decreased, and risk appetite is recovering. Overnight news shows signs of easing in the Middle East situation, with risk-averse funds taking profits and shifting to more elastic growth stocks in technology.
• Second, token data is fueling demand expectations. The National Data Bureau disclosed that China’s daily token invocation volume has exceeded 140 trillion, growing over a thousand times in two years. This data confirms a massive surge in AI inference demand, directly igniting infrastructure sectors like computing power leasing and optical communications.
• Third, technological breakthroughs and policy catalysts. China Information Science and Technology Group achieved a breakthrough in 5Pb/s ultra-large capacity optical transmission technology; the policy proposal of “computing and electricity synergy” links computing power with electricity, increasing the certainty of tech infrastructure projects.
• Fourth, performance validation and price increase expectations. Overseas optical module leader Lumentum disclosed capacity shortages, providing micro-level validation of industry prosperity.

In the electricity sector, “computing and electricity synergy” receives further catalysis! Shenzhen’s relevant documents point out that, according to local conditions, a “photovoltaic/offshore wind + energy storage + green power direct connection” zero-carbon data center benchmark demonstration will be built, supporting local consumption of computing demand and efficient use of green electricity. From a medium- to long-term perspective, the explosive growth of AI computing power has triggered “power shortage” anxiety. Against the backdrop of global power shortages and geopolitical conflicts, computing and electricity synergy is becoming a new growth driver.

To seize AI infrastructure opportunities, it is recommended to focus on the key layout of the leading optical module ETF on the ChiNext (159363) and off-market connect (Class A 023407, Class C 023408), which directly benefits from the explosive growth of AI technology commercialization. In terms of sectors, about 60% of the ChiNext AI ETF’s holdings are in computing power (optical modules/CPO leaders), and about 40% in AI applications—these are not only core “computing power” but also true representatives of “AI applications.”

To capitalize on AI energy opportunities, it is recommended to focus on the Huabao (159146) electricity ETF, which tracks the power utility sector, with a comprehensive layout of thermal, hydro, wind, nuclear, and photovoltaic power. It can capture the growth potential of new energy installations and leverage the high dividends and stable cash flows of traditional power giants to smooth market fluctuations, achieving a “defensive core + growth elasticity” dual fit. Note: Off-market connect fund (code: 026949) is actively being issued!

Data source: Shanghai and Shenzhen stock exchanges, etc. As of February 28, 2026. The latest scale of the Huabao ChiNext AI ETF is 1.4M yuan, with an average daily trading volume of 885 million yuan over the past six months, ranking first among 26 ETFs tracking the ChiNext AI index, Sci-Tech Innovation AI index, and Sci-Tech Innovation Entrepreneurship AI index.

ETF related fee disclosures: When investors subscribe or redeem fund shares, the subscription/redemption agent may charge a commission of up to 0.5%. On-market trading fees are based on the actual charges of securities firms; no sales service fee is charged.

ChiNext AI ETF Huabao connection fund fee disclosures: The launch-type connection of ChiNext AI ETF © does not charge a subscription fee; redemption fee within 7 days is 1.5%, after 7 days (inclusive) is 0%; sales service fee is 0.3%. The launch-type connection of ChiNext AI ETF (A) charges a subscription fee of 1% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and a flat 10,000 yuan for amounts above 2 million yuan; redemption fee within 7 days is 1.5%, after 7 days (inclusive) is 0%; no sales service fee.

Electric power ETF Huabao connection fund fees: ① Subscription fee rate for amounts below 2 million yuan is 0.3%; above 2 million yuan, each transaction is 1,000 yuan; ② Purchase fee rate for amounts below 2 million yuan is 0.3%; above 2 million yuan, each transaction is 1,000 yuan; ③ Redemption fee: within 7 days, 1.5% for both individual and institutional investors; after 7 days (inclusive), individual investors pay no redemption fee; for 7-30 days, institutions pay 1%; for 30-180 days, institutions pay 0.5%; beyond 180 days, no redemption fee; ④ No sales service fee.

Risk warning: The ChiNext AI ETF Huabao passively tracks the ChiNext AI index, which was based on the date 2018.12.28, with a publication date of 2024.7.11. The annual gains/losses of the ChiNext AI index from 2021-2025 are: 17.57%, -34.52%, 47.83%, 38.44%, 106.35%. The index component stocks are adjusted according to the index rules; past backtested performance does not predict future results. The component stocks shown are for display only; descriptions of individual stocks are not investment advice and do not reflect holdings or trading activity of any fund managed by the manager. The risk level of this fund, as assessed by the fund manager, is R4—medium-high risk, suitable for active investors (C4) and above. Suitability opinions are subject to sales institutions. All information in this article (including stocks, comments, forecasts, charts, indicators, theories, etc.) is for reference only; investors are responsible for their own investment decisions. The views, analyses, and forecasts in this article do not constitute investment advice and do not hold the author or the fund manager liable for any direct or indirect losses caused by using this content. Fund investments carry risks; past performance does not guarantee future results; performance of other funds managed by the same manager does not guarantee the performance of this fund. Invest cautiously.

MACD golden cross signals formed, these stocks are on a good upward trend!