The main theme of technology returns, with Chipone Technology soaring 10%, and all "Chip" stocks like 589190 rising over 3%! Institutions: Sci-Tech Innovation chips are currently entering a high-growth window characterized by both volume and price resonance.

April 1, the tech main theme surged, and the entire semiconductor industry chain moved higher. As of the time of this release, Xinyuan Shares is up more than 10%, Jinghe Integrated is up more than 8%, and Cambricon is up more than 7%. Companies including Huahong Group and Yuanjie Technology, as well as Hygon Information, are leading the gainers. The Huabao Sci-Tech Chip ETF (589190), which focuses on the semiconductor chip industry across the board—“all-in on chips” opened strong and kept climbing; within the market, the price jumped by more than 3%, recovering the 10-day moving average to the upside.

On the news front, driven by extremely strong demand for memory chips, South Korea’s March chip export value reached $32.8 billion, setting a historical record, highlighting the strong industry cycle for memory chips amid the AI boom.

In terms of computing power chips, Xinyuan Shares set a new record high in 2025 revenue. Among them, the share of AI computing-related revenue rose sharply to 64%, and newly signed orders surged 103% year over year. According to data from the National Bureau of Statistics, profits of high-tech manufacturing industries above a designated size increased 58.7% year over year in January–February 2026. Among them, the semiconductor discrete device manufacturing industry saw a profit growth rate as high as 130.5%.

CICC (China Merchants Securities) pointed out that the Sci-Tech Chip sector is entering a high-optimism window with a resonance between volume and price. Demand is surging driven by the AI industry. Memory chips’ prices have continued to rise due to an imbalance between supply and demand, together with the deepening of a logic of domestic substitution. The sector has three core investment rationales: strong demand, upward pricing, and earnings delivery.

Plan for the “super cycle” of the semiconductor chip industry—select high-elasticity 20CM varieties! Public information shows that the Huabao Sci-Tech Chip ETF (589190) and its feeder fund (Class A 021224, Class C 021225) passively track the SSE STAR Market Chip Index, covering 50 hard-tech holdings related to semiconductor materials and equipment, chip design, chip manufacturing, chip packaging and testing. While laying out the chip industry chain in full, in integrated circuits, semiconductor equipment** and other core areas, their weight exceeds 90%**. They feature a high hard-tech content and strong technological barriers.

The data shows that as of the end of 2025, since the base date of the SSE STAR Market Chip Index, the annualized return rate reached 17.93%, which is significantly better than similar indices such as Kechuang Entrepreneurship semiconductor, Guozheng Chip, and CSI All Share Semiconductor. At the same time, the maximum drawdown is smaller, resulting in a better risk-return profile.

Data source: Shanghai and Shenzhen exchanges, etc. The Huabao Sci-Tech Chip ETF passively tracks the SSE STAR Market Chip Index. The base date of the index is 2019.12.31; the publication date is 2022.6.13. The index constituents are adjusted in a timely manner according to the index compilation rules. Its historical backtested performance does not indicate the index’s future performance. Over the most recent 5 complete fiscal years, the SSE STAR Market Chip Index’s annual gains/losses were 2021: 6.87%, 2022: -33.69%, 2023: 7.26%, 2024: 34.52%, and 2025: 61.33%. The index constituents are adjusted in a timely manner according to the index compilation rules. Its historical backtested performance does not indicate the index’s future performance.

ETF fee-related disclosures: When investors subscribe for or redeem fund shares, the subscription/redemption agent may charge a commission at a standard not exceeding 0.5%, which includes the related fees charged by the securities exchange, the registration institution, and others. Feeder fund fee-related disclosures: For the Huabao SSE STAR Market Chip ETF Feeder A, the subscription fee rate (front-loaded) is 1000 yuan per order when the subscription amount is (including) 2 million yuan and above; 0.2% when it is between (including) 1 million and 2 million yuan; and 0.5% when it is below 1 million yuan. The redemption fee rate is 1.5% when the holding period is below 7 days; and 0% when the holding period is (including) 7 days. For the Huabao SSE STAR Market Chip ETF Feeder C, no subscription fee is charged. The redemption fee rate is 1.5% when the holding period is below 7 days; and 0% when the holding period is (including) 7 days. The sales service fee is 0.2%.

Risk warning: This product is issued and managed by Huabao Fund. Distribution institutions do not assume responsibility for the product’s investment, principal repayment/settlement, or risk management. Investors should carefully read relevant fund legal documents such as the《Fund Contract》, 《Prospectus》, 《Summary of Fund Product Information》, etc., to understand the fund’s risk-return characteristics, and choose a product that matches their own risk tolerance. The risk rating of this fund as assessed by the fund manager is R4—medium-high risk, suitable for investors rated C4 and above in the suitability classification. The performance of other funds managed by the fund manager does not constitute a guarantee of this fund’s performance. Past performance does not predict future performance. This fund has risks—invest carefully! Distribution institutions (including the fund manager’s direct distribution arm and other distribution institutions) conduct risk assessments for this fund according to relevant laws and regulations. Investors should promptly pay attention to the suitability opinions issued by the fund manager. The suitability opinions from different distribution institutions do not necessarily match, and the risk level evaluation results of fund products issued by distribution institutions must not be lower than the risk level evaluation results made by the fund manager. Differences exist in the fund contract regarding risk-return characteristics and fund risk levels because of different consideration factors. Investors should understand the fund’s risk-return situation, select fund products prudently in light of their own investment objectives, time horizon, investment experience, and risk tolerance, and bear the risks themselves. The China Securities Regulatory Commission’s registration of this fund does not indicate any substantive judgment or guarantee regarding the fund’s investment value, market outlook, and returns. This fund has risks—invest carefully.

MACD golden cross signal forms—these stocks have a solid uptrend!