--- title: "Low valuation pullback brings configuration opportunities! The thematic index valuation of Tianhong SSE STAR Chip Design ETF (589070) is below 99% of the time since its launch" type: "News" locale: "en" url: "https://longbridge.com/en/news/280965752.md" description: "The Tianhong SSE STAR Chip Design ETF (589070) has a target index valuation below 99% of the time, with a current PE-TTM of 173.09 times. The phase valuation pressure has been released, making it suitable for long-term investors' allocation. Recently, this ETF saw a net inflow of 121 million yuan, increasing its scale to 623 million yuan, becoming the leader among similar funds. In the market, the chip design concept has declined, with related companies such as Novosense and Biwin also experiencing declines. Within the semiconductor industry, several IC design manufacturers have issued price increase notices, and Huawei has released AI inference chips equipped with self-developed processors" datetime: "2026-03-30T06:23:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280965752.md) - [en](https://longbridge.com/en/news/280965752.md) - [zh-HK](https://longbridge.com/zh-HK/news/280965752.md) --- # Low valuation pullback brings configuration opportunities! The thematic index valuation of Tianhong SSE STAR Chip Design ETF (589070) is below 99% of the time since its launch On the market, both exchanges opened lower and then rose, with the chip design concept declining. In terms of related ETFs, the Tianhong SSE STAR Chip Design Thematic ETF (589070) saw its underlying index drop 1.23% during the session, with a transaction volume of 42.0603 million yuan; the turnover rate reached 6.87%. Among the constituent stocks, Novosense, Biwin, and several others fell as well. The Tianhong SSE STAR Chip Design Thematic ETF (589070) has accumulated a net inflow of 121 million yuan over the last 20 trading days. As of March 27, 2026, the latest scale of this fund is 623 million yuan, with a year-to-date growth of 623 million yuan, ranking first among similar funds. The Tianhong SSE STAR Chip Design Thematic ETF (589070) precisely targets three high-growth segments: cloud training chips, edge inference chips, and domestic GPUs, perfectly aligning with the industry trends of AI computing power explosion and domestic substitution. From the data, 68% of the AI chip design market growth rate and 12% of the domestic GPU market share provide solid performance support for the products; while a reasonable valuation of 40-45 times and the synergy advantage of the segment balance the high volatility risk of 35-45%. For investors optimistic about the long-term development of the semiconductor design sector, the Tianhong SSE STAR Chip Design Thematic ETF (589070) is an efficient tool for capturing the dividends of the segmented track. The current PE-TTM of the SSE STAR Chip Design Index is 173.09 times, with the valuation at the 0.76% percentile since its release, lower than 99.24% of the time range, indicating that the phase valuation pressure has been significantly released, and the cost-performance ratio for medium to long-term allocation is highlighted. In terms of news, according to semiconductor industry observations, six major IC design manufacturers, including Silan and MediaTek, have successively issued price increase notices, with Silan and Yili clearly stating that they will raise the prices of driver ICs by 15%-20% starting April 1. According to Dongfang Securities, Huawei officially released the Atlas 350 accelerator card equipped with its self-developed Ascend 950PR processor, achieving a commercial breakthrough for domestic high-end AI inference chips. Additionally, according to the National Bureau of Statistics, as of March, China's average daily Token call volume has exceeded 140 trillion, growing more than 1,000 times since early 2024; a report from Kaisheng Securities also shows that AMD and Intel plan to raise prices for their entire CPU series soon, with an average increase of 10%-15%. Guotai Junan Securities believes that chip design is ushering in a significant change at the architectural level. The RISC-V open-source architecture has achieved key breakthroughs, with Alibaba's Xuantie C950 processor natively supporting large models with hundreds of billions of parameters, promoting the large-scale implementation of cloud computing and edge computing scenarios; at the same time, Musk's "TERAFAB" plan aims to produce 1 terawatt of computing power chips annually, creating a full-link closed loop from design to packaging, with dedicated chips deeply evolving towards vertical scene customization. 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