Hong Kong stocks' hard technology sector delivered explosive performance, with 12 constituent stocks doubling their parent company net profits! The only Hong Kong Stock Connect Information Technology ETF (159131) in the entire market surged 4.11% in the afternoon.

On the afternoon of April 1, Hong Kong stocks’ hard-tech sector once again surged higher. Upstart AI rose 16%, Lazart Technology rose more than 10%, and Jiantao Piling Technology and Sunny Optical Technology both jumped more than 8%. The only listed *HKEX Connect Information Technology ETF in the entire market—Huabao (159131)—is building up momentum to rally, climbing as much as 4.11%.

As of April 1, all 50 constituent stocks in the CSI Hong Kong Stock Connect Information Technology Comprehensive Index have released their 2025 annual report performance. According to statistics, of the 50 constituent stocks, 39 achieved year-on-year growth in net profit attributable to shareholders, and 12 of them even delivered growth of more than 100%. Lenovo Holdings reported 10.61 billion yuan in net profit attributable to shareholders in 2025, up 696% year over year; Qitian Technology reported 14.94 billion yuan in net profit attributable to shareholders in 2025, up 435% year over year; Xiaomi Group-W raked in 41.6 billion yuan in net profit, up 76% year over year!

Galaxy Securities noted that computing power demand and capital expenditure are moving upward in tandem, and the industry is entering a high-visibility expansion phase. Computing power demand quickly transmits to every link in the industrial chain: chips, contract manufacturing, and server companies have seen significant performance growth, and when cloud providers raise their computing power prices, it reflects tightening supply and demand. The AI industry is entering a high-intensity expansion cycle of “demand surge—price transmission—capital ramp-up.”

Directly targeting the Hong Kong stock chip super-cycle! The Hong Kong stock chip industry-chain ETF you can trade on a T+0 basis—the first HKEX Connect Information Technology ETF in the entire market focused on the “Hong Kong stock chip” industry chain: Huabao (159131)—has an off-exchange fund connection fund code of 026755. The underlying index is made up of “70% hardware + 30% software.” It is heavily weighted toward Hong Kong stocks in “semiconductors + electronics + computer software,” covering 50 Hong Kong hard-tech companies. Among them, Xiaomi Group-W has a weight of 13.25%, Semiconductor Manufacturing International Corporation has a weight of 12.54%, Lenovo Group has a weight of 9.04%, and Hua Hong Semiconductor has a weight of 7.09%. It does not include large-cap internet companies such as Alibaba, Tencent, and Meituan, making it more sharply focused and easier to capture Hong Kong AI hard-tech market opportunities. (As of 2026.3.31)

Source of data: CSI Index Company, Shanghai and Shenzhen stock exchanges.

Note: “The only one in the entire market” means that Huabao (159131), the HKEX Connect Information Technology ETF, is currently the only listed and tradable ETF tracking the CSI Hong Kong Stock Connect Information Technology Comprehensive Index in the entire market.

Fund fee explanation: For the subscription and redemption of the HKEX Connect Information Technology ETF, the subscription/redemption agent may charge a commission according to a standard not exceeding 0.5%. Exchange-traded transaction fees are subject to what the securities firm actually charges. No sales service fee is charged.

Institutional viewpoint source: Galaxy Securities’ “【CGS-NDI Tracking】GTC 2026 highlights: AI moves from chip competition to system competition—Digital Economy Weekly (Issue 7 of 2026)”; and Haitong Securities’ “Hong Kong Stocks Strategy: Suggest maintaining Hong Kong stocks at a low position.”

Risk disclosure: Huabao HKEX Connect Information Technology ETF and its feeder fund passively track the CSI Hong Kong Stock Connect Information Technology Comprehensive Index. The index base date is 2014.11.14, and it was published on 2017.6.23. The index constituent stocks in the materials are provided only for illustration; descriptions of individual stocks do not constitute any form of investment advice and do not represent any holdings information or trading movements of any fund under the manager’s management. This product is issued and managed by Huabao Fund. The distribution institutions do not assume responsibility for the product’s investment, principal redemption, or risk management. Investors should carefully read fund legal documents such as the “Fund Contract,” the “Prospectus,” and the “Fund Product Information Summary,” to understand the fund’s risk-return characteristics and choose products that match their own risk tolerance. Past performance of the fund does not predict its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund’s performance. Investing in the fund involves risks—invest carefully! The risk level of this fund assessed by the fund manager is R4—medium to high risk, suitable for investors who are active (C4) and above. Sales institutions (including the fund manager’s direct sales channel and other sales institutions) conduct a risk assessment of this fund according to the relevant laws and regulations. Investors should promptly pay attention to the appropriateness opinions issued by sales institutions and follow the results of that matching; the appropriateness opinions from different sales institutions do not necessarily一致, and the risk level evaluation results for fund products issued by the sales institutions must not be lower than the risk level evaluation result made by the fund manager. Differences exist in the fund contract regarding the fund’s risk-return characteristics and the fund’s risk level due to different factors considered. Investors should understand the fund’s risk-return situation, and, based on their own investment objectives, term, investment experience, and risk tolerance, carefully select a fund product and bear the risks themselves. The China Securities Regulatory Commission’s registration of this fund does not constitute a substantive judgment or guarantee regarding the fund’s investment value, market prospects, or returns. The fund has risks—invest carefully.

The MACD golden cross signal has formed—these stocks have a good momentum!

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责任编辑：杨赐