--- title: "CITIC Construction Investment: The new high of ChiNext is just the beginning" type: "News" locale: "en" url: "https://longbridge.com/en/news/283258638.md" description: "CITIC Construction Investment Securities released a research report on April 19, pointing out that the ChiNext Index recently broke through its historical high, believing this is just the beginning. The report analyzes the upward potential of the computing power and new energy sectors, stating that the ChiNext Index offers the best cost-performance ratio in A-shares and is currently undervalued. With the disclosure of first-quarter performance reports, the TMT and cyclical sectors have performed well, and computing power and new energy still have upward potential, gradually revealing the advantages of the ChiNext Index" datetime: "2026-04-19T12:04:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283258638.md) - [en](https://longbridge.com/en/news/283258638.md) - [zh-HK](https://longbridge.com/zh-HK/news/283258638.md) --- # CITIC Construction Investment: The new high of ChiNext is just the beginning CITIC Construction Investment Securities Research published on April 19th that recently, negotiations between the U.S. and Iran have been put on the agenda, and a global market rebound has begun. Currently, the core offensive direction of A-shares is concentrated in the ChiNext, which has surpassed the previous bull market high this week. However, investors have differing opinions on whether there is still significant upside potential for the ChiNext. CITIC Construction Investment believes that considering the rising potential of the core computing and new energy sectors, as well as the fact that the valuation of the ChiNext index remains low, **the ChiNext index is currently the most cost-effective direction in A-shares.** CITIC Construction Investment argues that from the perspectives of industrial structure and valuation, **the current value of the ChiNext at 3600 points is significantly undervalued.** In terms of upside potential, the computing sector benefits from the continuous growth of AI giants, and its electricity demand indirectly drives the rise of the new energy sector. From a valuation perspective, the current ten-year price-to-earnings ratio percentile of the ChiNext index is only around 50%, which is relatively high compared to the Shanghai Composite Index and Shenzhen Component Index, which have price-to-earnings ratio percentiles exceeding 95%. CITIC Construction Investment believes that the ChiNext index is still the most cost-effective direction in A-shares. In terms of industry layout, CITIC Construction Investment's research report states that **the performance disclosure of the first quarter shows that the TMT and cyclical sectors exhibit a high prosperity and high profitability pattern, which is worth paying attention to in the future.** From specific sectors, computing remains the main line of prosperity in the first quarter, and is expanding from core hardware optical modules and PCBs to liquid cooling, computing leasing, power supply, and other "computing +" segments; benefiting from the explosive growth in demand for AI computing center storage, the lithium battery industry is experiencing a new structural incremental demand, with outstanding performance from representative stocks in the first quarter, and the upward momentum of the sector continues to extend throughout the entire industry chain; the innovative drug sector's prosperity is confirmed from both the performance and trading sides, with BD cooperation being normalized and the pace of industry globalization accelerating; the global semiconductor industry is in a strong prosperity cycle driven by AI, and the upward slope is still steepening. Due to the significant upside potential and prosperity trend of computing and new energy, and the current low position of the ChiNext index's price-to-earnings ratio percentile, CITIC Construction Investment judges that, as the market begins to fully price the prosperity trend in the first quarter earnings season, **the advantages of the ChiNext index in terms of profit growth, valuation, and industrial structure are gradually becoming apparent, and the current new high is just the beginning.** ### Related Stocks - [399006.CN](https://longbridge.com/en/quote/399006.CN.md) - [159915.CN](https://longbridge.com/en/quote/159915.CN.md) - [159948.CN](https://longbridge.com/en/quote/159948.CN.md) - [159949.CN](https://longbridge.com/en/quote/159949.CN.md) - [601066.CN](https://longbridge.com/en/quote/601066.CN.md) - [06066.HK](https://longbridge.com/en/quote/06066.HK.md) - [000001.CN](https://longbridge.com/en/quote/000001.CN.md) - [399001.CN](https://longbridge.com/en/quote/399001.CN.md) ## Related News & Research - [Funnel earns 2026 NAA Top Employers recognition and ranks No. 11 on Tampa Bay Business Journal’s Best Places to Work list](https://longbridge.com/en/news/287064595.md) - [URBANICA Furniture Makes Better Workdays Easier to Design](https://longbridge.com/en/news/287003627.md) - [02:00 ETKehua Delivers India's Largest 180MW / 360MWh Standalone Energy Storage Project](https://longbridge.com/en/news/286861210.md) - [Singlife's heritage income plan locks payouts up to 150 years](https://longbridge.com/en/news/287151153.md) - [LucidSound Introduces LS500 Wireless Gaming Headset, Built for All-Day Comfort and Seamless Play Across Devices](https://longbridge.com/en/news/286964121.md)