The semiconductor industry is approaching a turning point of "rising both in volume and price," with the Chip ETF Huaxia (159995) surging 2.71% and CXMT (Changxin Memory Technologies) rising over 10%.

April 1 early trading, China’s A-share three major indexes all rose collectively. The Shanghai Composite Index rose 1.16% intraday. Sectors such as electronics, building materials, and mechanical equipment led the gains, while public utilities and coal fell. Chip and technology stocks rebounded sharply. As of 9:43, the Huaxia Chip ETF (159995.SZ) was up 2.71%; among its constituent stocks, ChipsSure was up 10.56%, Shengbang Co. was up 6.68%, Cambricon was up 4.58%, Beijing Junzheng was up 4.51%, and Will Semiconductor was up 3.84%.

The semiconductor industry is entering a turning point of “rising both volume and price.” AI-driven global capacity expansion. The global semiconductor industry has entered a period of price hikes. Companies such as Texas Instruments, Infineon, and GalaxyCore Integrated have successively raised prices. A surge in AI compute demand is driving infrastructure spending to $450 billion. The share of inference compute first exceeds 70%. The trillion-dollar semiconductor era may be brought forward to the end of 2026. In China, wafer capacity will account for 32% of the global total by 2030. Of the 108 new wafer fabs globally in 2028, China will account for 47. The share of capacity for the mainstream 22-40nm process nodes will increase to 42%.

Everbright Securities said that the core of this round of semiconductor industry upgrades is not only the expansion of end-market demand, but also that AI is reshaping the value-carrying links of the industrial chain and the positions constrained by supply. As compute demand migrates from training to inference, the core driver of industry prosperity has shifted from single advanced logic capacity expansion to a gradual transition toward system-level capability upgrades represented by HBM, advanced packaging, and high-performance interconnects. Corresponding to the equipment side, industry competition is also evolving from one-to-one equipment domestic substitution, further developing into deeper breakthroughs centered on key processes, complex yields, and platform-based capabilities. In the future, the trend of AI demand structure migrating from training to inference will become even clearer, continuing to drive upgrades in chips, memory, interconnects, and advanced packaging. Related equipment investment is expected to benefit over the long term.

According to information, the Huaxia Chip ETF (159995) tracks the Guozheng Chip Index. It has 30 constituent stocks, gathering leading companies in China’s A-share chip industry across materials, equipment, design, manufacturing, packaging, and testing, including Semiconductor Manufacturing International Corporation, Cambricon, JCET, and Northern Hua Chuang, among others. Its off-exchange linked funds are: Class A: 008887; Class C: 008888.

Daily Economic News

(Editor-in-chief: Dong Pingping)

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