High-end manufacturing welcomes a development opportunity, and the industrial mother machine ETF continues to attract funds

On May 7th, the Industrial Mother Machine ETF (159667) opened steadily higher, closing up 4.11%, and has been continuously attracting funds recently, with a net inflow of over 130 million yuan in the past five days.

Source: Wind

The main driving force behind this round of growth in industrial mother machines is still the AI wave. The liquid cooling sector is at the forefront, as the power of AI server cabinets continues to increase, driving the demand for liquid cooling heat dissipation. According to Vertiv, the average rack density in the AI industry is expected to rise from 15-25kW in 2024-2025 to over 50kW in 2028-2029, and peak AI racks may even exceed 900-1000kW. When single cabinet power consumption is between 25 and 80kW, technologies such as row-side air conditioning, backplane-style air cooling, thin-panel air walls, and other near-end supply air or cold plate liquid cooling methods can be used. Among these, liquid cooling technology has prominent advantages such as efficient heat dissipation, low energy consumption, low noise, and small footprint. Liquid cooling connectors are larger in size and require higher precision, necessitating high-end equipment like car-milling combined machines and turret lathes, which aligns with both demand expansion and equipment upgrade/replacement logic.

Source: Vertiv

Source: Vertiv

In terms of PCB equipment, PCB manufacturing involves multiple stages of production. As AI circuit density continues to increase, the PCB manufacturing process is shifting toward semiconductor-like processes. From a manufacturing perspective, PCB-related equipment mainly includes exposure, lamination, drilling, electroplating, forming, inspection, and attachment. The increasing volume of AI server cabinets drives the demand for PCB, and since 2024, the industry has been in a state of supply shortage. Currently, major manufacturers are entering substantial expansion phases, and PCB equipment performance growth this year is worth expecting.

Source: Shenwan Hongyuan Research

Additionally, the strong momentum of humanoid robots should not be overlooked. Currently, humanoid robots mainly consist of structures such as the brain, torso, limbs, and hands. Historically, the humanoid robot sector has experienced multiple market cycles, with the Tesla Optimus as a representative, and the industry process for humanoid robots continues to deepen, serving as a primary driver of sector trends. The current market is gradually focusing on core value sectors, with complete machine manufacturers, screw rod manufacturers, and others remaining more certain links.

Source: AiBang Robotics

The Industrial Mother Machine ETF (159667) is one of the few market products tracking the CSI Machine Tool Index. As of April 30, 2026, the composition includes approximately 45% PCB equipment and materials, about 35% humanoid robots, and around 14% tungsten ore. Interested investors may consider phased allocation or batch building strategies to smooth out short-term volatility impacts on holding costs.

Risk Reminder:

Investors should fully understand the differences between regular fixed investment plans and lump-sum savings methods. Regular fixed investment is a simple and effective way to guide long-term investment and average investment costs. However, it does not eliminate the inherent risks of fund investment, cannot guarantee returns, and is not an equivalent financial substitute for savings.

Whether it is stock ETFs/LOFs, these are securities investment funds with higher expected risks and returns, with expected yields and risks higher than hybrid funds, bond funds, and money market funds.

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The short-term rise and fall of sector/fund indices are provided solely as auxiliary materials for analytical viewpoints and are for reference only, not a guarantee of fund performance.

The short-term performance of individual stocks mentioned in the article is for reference only, not a stock recommendation, nor a forecast or guarantee of fund performance.

The above opinions are for reference only and do not constitute investment advice or promises. If you wish to purchase related fund products, please pay attention to relevant investor suitability management regulations, conduct risk assessments in advance, and choose fund products matching your risk tolerance. Funds carry risks; investment should be cautious.

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