The electronic sector led the market higher today (June 17), attracting a net inflow of 790 billion yuan in main funds. Over a longer timeframe, the sector has drawn in 1856 billion yuan and 3251 billion yuan over the past 5 and 20 days respectively, consistently ranking first in fund attraction among the 31 primary Shenwan industries. GigaDevice Semiconductor (Beijing) Inc. and BOE Technology Group Co., Ltd. (BOE A) were the top two fund magnets in the A-share market, receiving net inflows of 68 billion and 42 billion yuan respectively.

Among popular ETFs, the Huabao Electronic ETF (515260), which encompasses hot themes like PCB and glass substrates, saw its on-market price surge 4.45%, marking its third consecutive positive daily close and hitting a new all-time high. This means it has surpassed the previous peak set since its listing on July 31, 2020.

Key Components of the ETF's Underlying Index

The underlying index of Huabao Electronic ETF (515260) includes several high-growth segments.

Glass Substrate Concept

Stocks like BOE Technology Group Co., Ltd. (BOE A) and TCL Technology Group Corporation surged to their daily limit. TSMC has announced a CoWoS glass substrate development plan to its supply chain, partnering with ABF substrate supplier Ibiden and panel maker Innolux to verify the feasibility of integrating glass substrates into CoWoS advanced packaging. This is TSMC's first public disclosure of progress in glass substrate technology application, signaling the formal entry into the industrial verification phase. Some analysts believe the glass substrate sector is poised for a significant growth cycle.

PCB (Printed Circuit Board) Sector

Shennan Circuits Co.,Ltd. hit the daily limit-up, reaching a new high, while Avary Holding (Shenzhen) Co., Limited also surged to the limit. The PCB sector continues to benefit from dual tailwinds of capacity expansion and price increases. Regarding expansion, Dongshan Precision has committed $1.2 billion to expand its optical chip and module projects. On the pricing front, leading copper-clad laminate manufacturer Kingboard Laminates issued another price hike notice, raising prices for all FR-4 and PP products by 15% due to soaring copper prices, rising glass fabric costs, and tight supply.

Memory Chip Concept

GigaDevice Semiconductor (Beijing) Inc. surged to the daily limit, hitting a new high and topping the A-share fund inflow chart. The memory chip price hike trend continues, with NOR Flash contract prices rising over 100% in the first half of the year and SLC NAND prices increasing 130%–150%. There is still room for price increases in high-end, specialized products in the second half. Demand for NOR Flash from AI servers, AI PCs, and optical modules is surging, while automotive and industrial control storage demand remains stable. Industry inventory is at a 15-year low, with shortages and price increases expected to persist throughout the year, strongly supporting improved corporate earnings expectations.

Semiconductor Equipment

ACM Research (Shanghai), Inc. surged 20% to the daily limit. The latest report from SEMI shows global semiconductor equipment billings reached $36.55 billion in Q1 2026, a year-on-year increase of 14%, setting a new quarterly record. Industry analysis suggests global semiconductor capacity expansion shows no signs of slowing, with leading players like TSMC and Micron continuing to raise capital expenditure. As a later-stage component of fab construction, facility equipment demand is expected to see concentrated release in 2026-2027.

ETF Overview and Positioning

Huabao Electronic ETF (515260) and its feeder funds (Class A: 012550, Class C: 012551) passively track the CSI Electronic 50 Index. The fund has significant exposure to the semiconductor and consumer electronics industries, aggregating popular themes like PCB, MLCC, glass substrates, memory chips, and semiconductor equipment. Its top holdings include companies such as Luxshare Precision Industry Co., Ltd., Cambricon Technologies Corporation Limited, Foxconn Industrial Internet Co., Ltd., and Semiconductor Manufacturing International Corporation. The ETF is also eligible for margin trading and is included in the Stock Connect programs, serving as an efficient tool for gaining exposure to core electronic sector assets.

As of the end of May, Huabao Electronic ETF (515260) had assets under management of 841 million yuan, making it the largest ETF tracking this specific index among the two available in the market.

Investment Considerations and Risk Disclosure

Huabao Electronic ETF passively tracks the CSI Electronic 50 Index. The index's base date is December 31, 2008, and it was published on July 22, 2009. The index constituents are adjusted according to its compilation rules, and its historical back-tested performance does not indicate future results. Individual stocks and index constituents mentioned are for illustrative purposes only. Descriptions of individual stocks are not investment advice of any form and do not represent the holdings or trading activities of any fund managed by the fund manager. The fund manager assesses the risk level of this ETF as R3-Medium Risk, suitable for Balanced (C3) and above investors. Suitability matching opinions should be based on sales institutions. Any information appearing herein is for reference only. Investors are responsible for their own investment decisions. The views, analysis, and forecasts herein do not constitute investment advice, and no responsibility is taken for any direct or indirect losses resulting from the use of this content. Fund investment carries risks. Past performance of a fund does not guarantee its future results. The performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. Invest with caution.