Today (July 14th), the PCB and optical module sectors launched a joint counterattack. Sheng Yi Dian Zi led gains, surging over 13%, while Xin Yi Sheng rose more than 9% and Zhong Ji Xu Chuang climbed over 6%. Shuang Chuang 50 ETF Hua Bao (588330), a hard technology broad-based ETF covering 50 high-growth leaders from the ChiNext and STAR boards, saw its intraday gain extend to 3.04% in the afternoon session and is currently up 2.33%. Data shows this ETF has attracted a cumulative 1.59 billion yuan over the past 20 trading days.

Reasons for the Rebound

What's behind the strong rebound in optical module leaders today? The fundamental catalysts likely stem from three key areas.

First: Indirect Positive Signals from Interim Reports

Although major optical module companies (such as the "Yi Zhong Tian" group) will not release their interim reports until August, and interim earnings forecasts have not yet been announced, the impressive data from a batch of upstream, downstream, and related companies in the industrial chain that have already disclosed their results provides a positive "reference" for the CPO sector.

For instance, Sheng Yi Ke Ji, a giant in PCB and high-speed copper-clad laminates, expects its first-half net profit to reach between 3.099 billion and 3.298 billion yuan, representing a substantial year-on-year increase of 117% to 131%, primarily driven by sales growth in copper-clad laminates, underpinned by demand for AI computing power. Hua Tian Ke Ji, a leader in advanced integrated circuit packaging and testing, forecasts a first-half net profit of 750 million to 850 million yuan, soaring 231.16% to 275.31% year-on-year, with a significant sequential increase in net profit for the second quarter alone.

Second: Latest Data from Customs

Data released by the General Administration of Customs shows that China's import and export value of computing hardware, including electronic components and computer parts, reached 5.13 trillion yuan in the first half of the year, surging 56.6% year-on-year. This confirms the rapid growth in global AI computing infrastructure construction.

Third: Company Clarification

On July 10th (last Friday), market rumors circulated suggesting Zhong Ji Xu Chuang's "second-quarter results fell severely short of expectations," causing a sharp drop in its stock price.

Late on July 12th, Zhong Ji Xu Chuang urgently issued an announcement to clarify, stating explicitly: "The company has not yet released an earnings forecast or interim report, but we are very confident about the operational performance in the first half and industry demand." The company revealed that its current order backlog already covers the entirety of 2026, with some orders scheduled as far out as 2027, and expects gross margin for the second quarter to remain stable.

Market Perspective

Guosen Securities noted that the relative fundamental advantage of the technology sector currently persists. Shenwan Hongyuan pointed out that the AI industry trend remains the main battleground for major market waves. They added that a continued leadership in gains by the tech sector, accompanied by a more diversified structure of rising stocks, is characteristic of a complete major market wave.

Investment Strategy

At the current juncture, rather than heavily concentrating bets on a single sub-sector, investors might consider using a hard technology broad-based ETF to capture multiple hot themes efficiently, providing comprehensive coverage of tech market trends. Data indicates that the underlying index of Shuang Chuang 50 ETF Hua Bao (588330) has surged 122.23% over the past year, significantly outperforming major indices like the STAR 50 and ChiNext 50, leading the pack among hard technology broad-based funds.

Product Focus: Hard Tech Broad-Based ETF

The hard technology broad-based ETF – Shuang Chuang 50 ETF Hua Bao (588330) and its off-exchange联接 funds (Class A: 013317, Class C: 013318) – tracks a target index that selects 50 listed companies in strategic emerging industries with larger market capitalizations from the STAR Market and ChiNext Board. It encompasses popular themes such as optical modules, semiconductors, and photovoltaic equipment. Its top holdings include leading stocks like Ning De Shi Dai, Zhong Ji Xu Chuang, Han Wu Ji, and Zhong Xin Guo Ji. With a 20% daily price limit, it may offer a faster vehicle for capturing rebounds. Additionally, this ETF is eligible for margin trading and securities lending and is part of the Stock Connect program, serving as an efficient tool for a one-click investment in the new quality productive forces.