Geopolitical conflicts combined with energy substitution, the acceleration of digital collaboration, crowded trading or phased releases, and innovative entrepreneurship AI ETFs ICBC(588430) and GEM New Energy ETF ICBC(159149) are expected to benefit.

Recently, the energy storage industry has continued to grow steadily; at the national level, capacity compensation electricity price policies have been implemented, with detailed rules to be introduced in various provinces. Coupled with the accelerated progress of digital and computing collaboration, the booming demand for data center energy storage in the U.S., and strengthened subsidies for residential storage in Europe, institutions forecast that global energy storage installations could grow by over 60% by 2026.

The IEA expects global data center electricity consumption to reach approximately 945 TWh by 2030, a significant increase from current levels. This means that the core constraint for AI is shifting from “whether there is a story” to “whether there is continuous power supply, transmission, and capital recovery capability.”

ICBC Credit Suisse Fund states that it remains optimistic about the AI main theme, especially the core hardware with the hardest supply bottlenecks and the power and energy systems that alleviate fundamental energy constraints. In the medium to long term, AI continues to be one of the strongest industry capital expenditure themes globally. On the demand side, data centers and inference expansion are ongoing; on the supply side, chips, packaging, networks, data centers, and electricity remain scarce resources. Capital expenditure from major U.S. companies related to AI is expected to continue increasing through 2026.

In terms of market structure, risks triggered by geopolitical conflicts, rate re-pricing, and crowded trades have already been unfolding over the past two weeks. At this stage, the market may no longer simply engage in rough “sell everything AI” trades but could start to reorder within the AI sector. We believe that the AI main theme has not been disrupted. The assets that can truly outperform in the long run are not all AI-related assets but those that control hard constraints, secure genuine orders, and generate real cash flows. Investment directions aligned with this include the ICBC Innovation and Entrepreneurship Artificial Intelligence ETF (588430) and the ICBC Growth Enterprise New Energy ETF (159149).

The ICBC Innovation and Entrepreneurship Artificial Intelligence ETF (588430) closely tracks the CSI Innovation and Entrepreneurship Artificial Intelligence Index, which selects 50 listed companies involved in AI infrastructure, technology, and application support from the STAR Market and ChiNext. The index aims to reflect the overall performance of AI-themed listed companies in these sectors. It comprehensively covers the entire AI industry chain, including AI computing power (AI chips, optical modules), AI technology (large models, cloud computing), and AI applications (robots, autonomous driving), striving to capture the growth dividends of AI under new productivity.

The ICBC Growth Enterprise New Energy ETF (159149) closely tracks the ChiNext New Energy Index (399266.SZ), composed of 50 listed companies in the new energy or new energy vehicle industries. It aims to reflect the operational characteristics of new energy companies on the ChiNext. With a strong focus on energy storage, it covers the entire energy storage industry chain, including traditional large-scale and commercial energy storage, as well as innovative fields like AI energy storage, AIDC power supplies, and computing power collaboration.

It is noteworthy that the daily price fluctuation limits for the CSI Innovation and Entrepreneurship Artificial Intelligence Index and the ChiNext New Energy Index components can reach 20%, offering significant flexibility but also potentially leading to substantial price volatility, making them more suitable for investors seeking high elasticity.

As a high-quality tool for deploying the dual-innovation AI track, the ICBC Innovation and Entrepreneurship Artificial Intelligence ETF (588430) provides investors with a convenient way to share in the benefits of AI technological iteration and industry implementation. It may be suitable for medium- to long-term investors optimistic about AI industry development and seeking high-elasticity returns, either as a trading or allocation instrument.

The ICBC Growth Enterprise New Energy ETF (159149) offers investors a one-stop, efficient tool for investing in and allocating to the ChiNext new energy industry, further enriching their energy storage main theme asset allocation options.

Fund fee disclosures:

The trading fees for the ICBC Innovation and Entrepreneurship Artificial Intelligence ETF and the ICBC Growth Enterprise New Energy ETF are based on the actual charges by securities firms. Subscription fee: When investors subscribe for fund shares, the authorized broker may charge a commission not exceeding 0.5%, including fees from stock exchanges, registration agencies, and other related costs. Redemption fee: When investors redeem fund shares, the broker may charge a commission not exceeding 0.5%, including fees from stock exchanges, registration agencies, and other related costs. The management fee for the Innovation and Entrepreneurship Artificial Intelligence ETF is 0.45% annually, with a custody fee of 0.10% annually. The management fee for the Growth Enterprise New Energy ETF is 0.50% annually, with a custody fee of 0.10% annually.

Risk warning: The fund managers manage and operate the fund assets in accordance with principles of diligent duty, honesty, and prudence but do not guarantee profits or minimum returns. Both the Innovation and Entrepreneurship Artificial Intelligence ETF and the Growth Enterprise New Energy ETF are equity funds, with higher risks and returns than hybrid, bond, or money market funds. They are index funds that primarily adopt full replication strategies, tracking the performance of their underlying indices, and share similar risk-return characteristics with the stock markets represented by those indices. Investing in ETFs involves risks such as index volatility, deviation of fund portfolio returns from the index, and tracking error risks. Investors should carefully read the fund contract, prospectus, and key information documents, fully understand the product details, fee structures, and sales channels, and consider their risk tolerance before investing. Investment should be cautious.