Changxin plans to raise 29.5 billion yuan for capacity expansion and upgrades, igniting demand for domestic semiconductor equipment. The China Universal SSE STAR Chip ETF (588750) surged over 4% on increased volume, while the penetration rate of silicon photonics improved, and NSIG hit the daily limit of a 20cm increase

On May 19, the market opened lower and then rose, with the chip sector continuing to climb and the gains expanding. By the close, the China Universal SSE STAR Chip ETF (588750) rose by 4.04%, with a transaction amount of 347 million, exceeding yesterday's level; among the samples, NSIG hit the daily limit of 20cm, Chipone Technology rose over 15%, and Shengke Communication rose over 10%, while Zhongwei Company, ZK Technology, and Lianyun Technology also saw significant increases.

As of the previous trading day, the China Universal SSE STAR Chip ETF (588750) had a one-month gain of 27.9%, a three-month gain of 29.05%, a six-month gain of 50.69%, and a one-year gain of 128.96%. The past performance has been outstanding.

Data shows that as of the previous trading day, the latest scale of the China Universal SSE STAR Chip ETF (588750) reached 5.696 billion yuan, with a total net inflow of 1.409 billion yuan in the past year.

The IPO process of storage leader Changxin Technology on the STAR Market is accelerating. According to information, the company's net profit in the first quarter of 2026 is expected to reach 33 billion yuan; this IPO aims to raise 29.5 billion yuan, mainly for capacity expansion and cutting-edge technology iteration.

Information from the industry chain shows that Changxin Technology has initiated bidding in the second quarter of 2026, planning to expand production by 50,000 to 60,000 wafers throughout the year, with equipment procurement demand reaching 5 to 6 billion dollars. Changxin Technology clearly stated in its prospectus that this listing will effectively promote the coordinated development of core links in the industry chain, from EDA, semiconductor materials, equipment and components, to module manufacturers and downstream terminal applications.

In terms of popular stocks, SOI wafer leader NSIG hit the daily limit. The demand for optical modules driven by AI computing power is surging, with rates of 800G, 1.6T, and even 3.2T and above, and the penetration rate of silicon photonics technology is expected to exceed 50%, even reaching 70%-80%, which directly implies that the demand for SOI substrate materials will grow exponentially.

Dongxing Securities pointed out that recently, the technology sector has led the market, with structural optimization continuing amid market fluctuations, and domestic replacement technology chains such as storage chips and lithography machines performing prominently. In the past month, overseas computing power chains and domestic computing power, as well as semiconductor chips, have sequentially led the gains, with technology still being a direction with significant elasticity in the short term, where computing power and AI hardware are viewed as varieties with strong market prosperity logic.

From the sample selection perspective, compared to other indices sampled across the entire market, the sample selection space of the China Universal SSE STAR Chip ETF (588750) is focused on the STAR Market, which concentrates on the "hard technology" sector, the home base for A-share chip companies. Over the past three years, more than 90% of chip listed companies have chosen to list on the STAR Market, with an average market capitalization share reaching 96%.

From the industry distribution perspective, the sample index of the China Universal SSE STAR Chip ETF (588750) focuses on the upstream and midstream links of "high-precision" chips, with the core links accounting for as high as 95%, surpassing other indices.

From the rebalancing frequency perspective, the sample index of the China Universal SSE STAR Chip ETF (588750) adopts quarterly rebalancing, which can more agilely reflect the development trends of the chip industry chain China Universal SSE STAR Chip ETF (588750) Off-market Connect (A:020628, C:020629)