The Sci-Tech Innovation Chip Design ETF Tianhong (589070) underlying index dropped over 2% during trading, with valuations lower than 98% of the past three years.

In the market, both exchanges opened lower and declined throughout the day, with chip design concepts falling. Regarding related ETFs, the Sci-Tech Innovation Chip Design ETF Tianhong (589070) tracked an index that fell 2.44% during the trading session, with a trading volume of 34.27 million yuan; the turnover rate reached 5.5%. Among the constituent stocks, Anlu Technology, Guoxin Technology, and Puran Co. dropped over 5%, with Dongxin Co., Fudan Microelectronics, and Newxiang Micro also following suit.

The Sci-Tech Innovation Chip Design ETF Tianhong (589070) has experienced a net capital inflow of 67.7751 million yuan over the past 20 trading days. As of April 1, 2026, the fund’s latest size was 632 million yuan, with a year-to-date growth of 632 million yuan, ranking first among similar funds.

The Sci-Tech Innovation Chip Design ETF Tianhong (589070) closely tracks the SSE Sci-Tech Innovation Board Chip Design Theme Index, which has gained 47.22% over the past year. The index focuses on the midstream design segment of semiconductors, with an inclusion rate close to 95%! Compared to other similar Sci-Tech Innovation chip indices, it is more “pure,” with a very high industry concentration!

Data from the past three years show that the PE-TTM of the Sci-Tech Innovation Chip Design Index is 172.79 times. Its current valuation is at the 1.25% percentile over the past three years, below 98.75% of the past three years, indicating certain valuation and cost-effectiveness.

On the news front, ①According to the Ministry of Industry and Information Technology, on March 17, three departments jointly held a symposium with new energy vehicle industry companies, emphasizing the need to accelerate filling gaps in automotive chips, basic software, and other areas; ②According to Jiwei.com, Chinese research teams released the “Xiangshan” open-source high-performance RISC-V processor and the “Ruyi” native operating system on March 26, officially open to the global open-source community; ③According to Kua Technology, IDC data shows that by 2025, domestic AI chip deliveries will reach 1.65 million units, with market share rising to 41%, with Huawei capturing nearly 20% of the share, becoming the biggest winner in domestic substitution.

Shenwan Hongyuan Securities believes that with the arrival of the AIoT 2.0 era at the edge, chip design companies leveraging a “SoC + AI co-processor” dual-track strategy have growth potential in high energy efficiency, support for large-scale local models, and multi-scenario applications.

Daily Economic News