Technology stocks continued their strong performance during early trading on June 17th. The domestic market's pioneering technology leaders exchange-traded fund, Tech ETF Hua Bao (515000), led the gains with an intraday surge of 2%, reaching a fresh all-time high since its listing on August 16, 2019.
Among its constituent stocks, printed circuit board (PCB) leaders saw a significant breakout. Shennan Circuits Co.,Ltd.. hit the daily limit-up, achieving a new historical high, while Shengyi Technology surged over 5%. The semiconductor sector also showed strong momentum, with ACM Research Shanghai rising over 6%, and Silicon Works and Unigroup Guoxin Microelectronics gaining more than 4%. The optical communications segment remained active, with FiberHome Telecommunication Technologies advancing 7%.
Institutional analysis suggests that the AI sector still offers sustainable growth opportunities with high certainty. The performance and earnings growth of computing hardware are expected to outpace the broader market, with a focus on key segments such as optical modules, PCBs, liquid cooling, and computing power leasing.
Regarding the PCB sector, fundamental positive catalysts continue to drive the market. A leading company officially announced another 15% price increase for its products, marking the fourth price hike for copper-clad laminates this year. Industry research indicates that this round of price increases has strong sustainability, fundamentally different from short-term adjustments driven by past consumer electronics cycles. The current price hikes are driven by the combined demand from AI computing infrastructure, high-speed optical module upgrades, and automotive electronics, coupled with tight supply and demand for upstream raw materials like resins and copper foil. This allows for smooth cost pass-through along the industrial chain, continuously lifting the sector's profit margins.
For exposure to the technology bull market, focusing on leaders is key. Tech ETF Hua Bao (515000) and its feeder funds (Feeder A: 007873, Feeder C: 007874) select 50 listed companies from sectors like electronics, computer technology, communications, and biotechnology within the Shanghai and Shenzhen markets. These companies are chosen based on their large scale, high market share, strong growth potential, and significant R&D investment, collectively representing the core assets of A-share technology leaders. Their risk-return profile is more balanced compared to single-sector technology products.