Likes ReceivedChinaAMC China Mobile Telecom ETF (515050) Long-term layout cost-effectiveness stands out
On the afternoon of July 23, the three major A-share indices rose across the board. The ChinaAMC Communication ETF (515050) experienced volatile adjustments. Among component stocks, as of 13:56, LianTe Technology rose by over 5%, while Luxshare Precision and Foxconn Industrial Internet rose by over 3%. The ChinaAMC ChiNext Artificial Intelligence ETF (159381) fell by 1.76%, presenting layout opportunities during the pullback.
In terms of individual stocks, on July 22, Zhongji Innolight launched its Hong Kong IPO, expecting to raise HKD 54.5 billion for R&D of optical interconnection products and global capacity expansion. In the industry sector, Tencent Cloud announced at the World Artificial Intelligence Conference that it will deploy NPO super nodes in Q4 2026, placing optical engines near GPUs to reduce switch hops, thereby lowering power consumption and latency.
Additionally, industry data shows that global AI server shipments are expected to exceed 2 million units in 2026, a year-on-year increase of 55%, directly driving demand growth for high-end PCBs by over 110%. The value of PCBs per AI server is nearly 10 times that of ordinary servers, with leading manufacturers' orders already locked in until 2027.
Bocom International pointed out that the fundamentals of AI infrastructure remain unchanged. After a significant year-on-year increase in capital expenditure by large cloud service providers in 2026, it may continue to rise in 2027. Key upstream supply chains (optical modules/optical communications, memory, etc.) may continue to face insufficient supply. The recent decline in stock prices may bring buying opportunities.
The ChinaAMC Communication ETF (515050) fully covers the entire chain from scarce upstream optical chips to optical fibers/cables benefiting from new technologies like MPO/CPO/OCS, AI servers, optical interconnects, PCBs, and storage. The tracked index's optical module CPO + PCB concept stocks account for over 80% of the weight, with CPO concept stocks exceeding 74% and PCB concept stocks exceeding 20%. Compared to similar communication ETFs, it uniquely includes component stocks such as GigaDevice, Dongshan Precision, WUS Printed Circuit, Shengyi Technology, Shennan Circuits, and Pengding Holdings, which are leaders in storage, PCBs, and copper-clad laminates. OTC feeder funds (Class A: 008086; Class C: 008087).
The ChinaAMC ChiNext Artificial Intelligence ETF (159381) tracks an index where the top three optical module leaders, Eoptolink, Zhongji Innolight, and TFC Optical Communication, hold a combined weight of over 49%, ranking first among AI-related targets. Currently, the fund size exceeds RMB 2 billion, with an on-exchange comprehensive fee rate of only 0.20%, the lowest tier for ETFs. OTC feeder funds (Class A: 025505; Class C: 025506).
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