Cambrian is set to remove the "U"! ChiNext Growth Layer welcomes its first "graduates"! Huabao Fund Sci-Tech Innovation AI ETF (589520) attracted 40.53 million yuan in net inflows over the past 5 days

On the evening of March 12, Cambrian disclosed its 2025 annual report, achieving a net profit of 2.059 billion yuan for the year. This marks the company’s official removal of the unprofitable status and its graduation as a “Bloomberg” enterprise in the science and technology innovation growth tier. The company will cancel the special marker U on March 16, and the stock abbreviation will change from “Cambrian-U” to “Cambrian.”

As a benchmark for domestic AI chips, Cambrian’s growth path is representative. From 2020 to 2024, the company invested over 5.6 billion yuan in R&D, iterating multiple chip products and completing key transformations within five years of listing. With the explosive demand for AI computing power in 2025, the company has become a trendsetter. The annual report shows a significant shift in revenue structure in 2025, from primarily intelligent computing cluster business at the start of listing to a focus on commercial cloud chip product lines. The annual net profit has historically surpassed 2 billion yuan, indicating the company is entering a “self-sustaining” phase, and marking the transition of AI companies from technology investment to commercial returns.

Dongxing Securities believes that the AI industry is currently in a phase of policy, technology, and demand resonance. Leading domestic chip and cloud computing companies are gradually validating their performance, with large-cap companies’ CapEx continuously investing, boosting industry development certainty. There is still upward potential for industry prosperity.

In the market, on Friday (March 13), the Sci-Tech Innovation Artificial Intelligence ETF (589520), which focuses on the domestic AI industry chain, fluctuated below the surface. The intra-market price fell by 1.57%, but funds remain undeterred by market fluctuations, showing a “buying more on dips” trend. Data from the Shanghai Stock Exchange shows that this ETF attracted a total of 40.53 million yuan in the past five days, reflecting investor confidence in the future of the domestic AI sector and early positioning.

Regarding constituent stocks, Haitian Ruisheng and Lingyun Optics led gains of over 3%, Jingchen Co., and Daotong Technology rose more than 1%, while Yingshi Network and Kingsoft Office also gained. Conversely, Yuntian Lify-U and UCloud-W fell more than 9%, dragging down the index.

【Domestic substitution shines, independent innovation in science and technology】

The Huabao Sci-Tech Innovation Artificial Intelligence ETF (589520) and its associated funds (Connect A: 024560, Connect C: 024561) focus on the domestic AI industry chain. Its constituents include domestic GPU leader (Cambrian), domestic ASIC leader (Xin Yuan Co.), AI application leader (Kingsoft Office), with semiconductor industry weight nearly half, showing strong aggressiveness; software industry weight exceeds 30%, expected to benefit from AI application rebound. Additionally, this ETF is a margin trading target and an efficient tool for one-click domestic computing power deployment.

ETF fee details: Huabao Sci-Tech Innovation AI ETF does not charge sales service fees. Subscription and redemption agents may charge commissions up to 0.5%, including fees from stock exchanges and registrars. In-market trading costs are based on the actual charges of securities firms.

Associated fund fee details: Huabao SSE Sci-Tech Innovation AI ETF Initiated Connect Fund (A class) has a subscription fee of 1,000 yuan per transaction for subscriptions of 2 million yuan or more, 0.6% for 1-2 million yuan, and 1% for less than 1 million yuan; redemption fee is 1.5% if held less than 7 days, 0% if held 7 days or more, with no sales service fee. Huabao SSE Sci-Tech Innovation AI ETF Initiated Connect Fund (C class) has no subscription fee, with redemption fee of 1.5% if held less than 7 days, 0% if held 7 days or more; sales service fee is 0.3%.

Risk warning: The Huabao Sci-Tech Innovation AI ETF passively tracks the SSE Sci-Tech Innovation Board Artificial Intelligence Index, which was launched on December 30, 2022, and published on July 25, 2024. The annual gains/losses for 2023 and 2024 are 12.68% and 32.36%, respectively. The index components are adjusted periodically according to the index rules. Past backtested performance does not predict future results. The individual stocks and index components mentioned are for illustration only and do not constitute investment advice or reflect holdings or trading activities of any fund managed by the manager. The fund manager assesses the risk level of the Huabao Sci-Tech Innovation AI ETF as R4—medium-high risk, suitable for active investors (C4) and above. Suitability opinions are subject to the sales institution. All information in this article (including but not limited to stocks, comments, forecasts, charts, indicators, theories, and any other expressions) is for reference only. Investors are responsible for their own investment decisions. The views, analysis, and forecasts in this article do not constitute investment advice, and the fund manager is not responsible for any direct or indirect losses resulting from the use of this content. Fund investments carry risks; past performance does not guarantee future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Please invest cautiously.