Is the Sci-Tech Innovation 50 "Golden Pit" coming?

Ask AI · Can Q1 earnings become the key factor for the Sci-Tech 50 to stop falling?

The Sci-Tech 50 Index has been adjusted for quite a long time. On March 20, it fell again by 1.55%, hitting a new intra-year low. Why is the Sci-Tech 50 Index falling this round? Let’s first look at its underlying “color.”

The Sci-Tech 50 is made up of 50 stocks from the STAR Market with large market caps and good liquidity. Semiconductors account for nearly 70% of the weight. The top ten weighted stocks include “hard-tech” leaders such as Hygon Information, SMIC, Cambrian, Renesas? (No), and other companies including Hailu? (No), etc.—specifically HaiGuang Information, SMIC, Cambricon, Ruentai? (No), and others such as Advanced Micro-Fabrication Equipment, and. (The text says “寒武纪、澜起科技、中微公司、芯原股份等‘硬科技’龙头.”)

In plain terms, this highly concentrated industry mix determines that its trend is deeply tied to the semiconductor sector. In the past month, geopolitical factors have been shifting repeatedly; semiconductors and other tech sectors have been volatile and weakening, and the Sci-Tech 50 has also been unable to stay out of it.

But on the flip side, the Sci-Tech 50 is also a core vehicle for semiconductor industry policy tailwinds and future development opportunities. SMIC controls advanced process technology intellectual property; the etching equipment of Advanced Micro-Fabrication Equipment Corporation ranks in the global first-tier; Cambricon has cloud-based AI chips with independent architectures; and companies like Ruentai Technology and Hygon Information are also “front-runners” in their respective sub-segments.

Under the big-picture trend of an explosion in AI computing demand, the long-term value of these companies will not change because of short-term adjustments. After the adjustment, they may actually offer better investment value for money.

So the question is: Has the Sci-Tech 50 bottomed out? Judging by the index level, it has set a new intra-year low. But right now, it coincides with the disclosure period for annual reports and Q1 reports. Whether the Sci-Tech 50 can stop falling and stabilize depends mainly on whether tech bellwethers can deliver an earnings report that can support stock prices. If the Q1 results can keep up, then the current valuation can be filled in by future growth—“time” successfully converting into “space.”

iShares? (No) Actually: “科创50ETF易方达（588080，联接基金A/C/Y：011608/011609/022895）紧密跟踪该指数，最新规模近400亿元，产品近一年相对指数超额收益约1%，在规模50亿以上的同类ETF中位居第一，同期跟踪误差仅0.02%。如果你看好科创板长期价值，当前科创50的回调或许正是分批布局的机会。”

说明: The relevant materials are for reference only and do not constitute any fund publicity or marketing or investment advice. Ever? (No) Actually: “易方达基金不对贵司因使用该等材料而引发的结果承担相关责任。” -> “E fund does not assume any liability for any outcomes arising from your company’s use of these materials.”

_ (Note: This article is commercial information published by China National Radio Network (央广网). The content of the article does not represent the viewpoint of this website. It is for reference only.) _