--- title: "The trillion \"Cold King\" is born, the low-fee STAR chip ETF Hwabao surged 4.5% to reach a new high! The underlying asset skyrocketed 110% in the first half of the year, leading the market" type: "News" locale: "en" url: "https://longbridge.com/en/news/291264142.md" description: "On June 30th, the STAR Chip sector surged, with Cambricon's market value surpassing 1 trillion. Hwabao WP SSE STAR Chip ETF (589190) rose 4.57% to reach a new high, attracting 223 million yuan in the past 5 days. Benefiting from South Korea's massive AI investments and Changxin Storage's large orders, along with the leading global usage of domestic large models, Guojin Securities pointed out that the demand for computing power is favorable for the implementation of domestic chips" datetime: "2026-06-30T10:04:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291264142.md) - [en](https://longbridge.com/en/news/291264142.md) - [zh-HK](https://longbridge.com/zh-HK/news/291264142.md) generator: "portal-rs" --- # The trillion "Cold King" is born, the low-fee STAR chip ETF Hwabao surged 4.5% to reach a new high! The underlying asset skyrocketed 110% in the first half of the year, leading the market On June 30, the technology innovation chips surged, **with the leading heavyweight Cambricon rising over 7% and its market value surpassing 1 trillion yuan**, becoming the first stock on the STAR Market to reach a trillion yuan market cap; **Haiguang Information rose over 6% during trading, hitting a new high**, and SMIC increased by over 5%. Additionally, Gekewei and Aojie Technology-U **hit the 20% daily limit**, while Zhongke Feice, Nanchip Technology, Yitang Co., Ltd., and Fengqian Technology saw **8 stocks rise over 10%**. The **Hwabao WP SSE STAR Chip ETF (589190)**, which has a **relatively low fee rate**, saw its market price **surge 4.57%, reaching a new historical high!** Recently, technology innovation chips have been continuously advancing, attracting funds as the absolute main line of the market. According to data from the Shanghai Stock Exchange, 589190 has attracted a total of **223 million yuan** in the past five days. In terms of news, the South Korean government, in collaboration with Samsung and SK Group, announced a total of **4.755 trillion won** for the largest AI and chip industry layout project in South Korea's history, focusing on three core super projects: semiconductors, physical AI, and AI data centers. The South Korean government stated that it will double DRAM production capacity within five years and predicts that **the global memory market size will quadruple in five years.** Domestically, according to informed sources, the leading domestic memory chip manufacturer **Changxin Storage has signed a long-term supply agreement worth over 20 billion yuan with Tencent Holdings**. At the same time, Changxin Storage is also negotiating similar collaborations with other Chinese internet companies. According to its IPO prospectus, Changxin Storage's main clients include Tencent, Alibaba Cloud, ByteDance, Lenovo, and Xiaomi. **The storage industry is experiencing high growth + an expansion wave, continuously validating the industry's high prosperity.** Additionally, last week (from June 22 to 28), the total call volume of global AI large models reached **46.7 trillion tokens**, with the Chinese AI large models accounting for **20.39 trillion tokens**, an 8.4% week-on-week increase, achieving growth for five consecutive weeks, and **remaining the global leader for nine consecutive weeks, surpassing the United States.** Guojin Securities pointed out that the explosive growth in token call volume has created a massive demand for computing power, significantly benefiting the large-scale implementation of domestic chips. Previously, ByteDance discussed purchasing domestic GPUs and incorporating domestic chips into its core supply chain, which is a core signal that the product strength of domestic chips has been validated by leading internet companies' real business. The **explosion of large model traffic and the introduction of domestic computing power form a dual benefit, continuously opening up the commercialization growth ceiling for domestic chips.** \* Galaxy Securities stated that with the arrival of the mid-term performance window, attention should be paid to opportunities in storage and semiconductor equipment performance exceeding expectations; in addition, based on industry progress, materials and equipment benefiting from storage expansion should be monitored; optimistic about the performance and valuation upgrades of wafer fabs.\* It is worth mentioning that in the semiconductor chip market this year, innovative chips have shown impressive **upward aggressiveness**. The SSE STAR Chip Index has **increased by 110%** year-to-date, outperforming similar semiconductor chip indices. Note: The annual returns of the SSE STAR Chip Index over the past five complete years are 6.87% in 2021, -33.69% in 2022, 7.26% in 2023, 34.52% in 2024, and 61.33% in 2025. The composition of the index constituents is adjusted in accordance with the index compilation rules, and its historical performance does not predict future performance. **Layout of the chip industry "super cycle," preferential selection of 20CM high-elasticity varieties!** Public information shows that the Hwabao SSE STAR Chip ETF (589190) and its linked funds (Class A 021224, Class C 021225) passively track the SSE STAR Chip Index, while **balancing allocation and full-chain layout** of the chip industry, with **over 90% weight in core areas such as integrated circuits and semiconductor equipment**, featuring high hard technology content and strong aggressiveness. Public data shows that the Hwabao SSE STAR Chip ETF (589190) has a management fee of 0.3%, a custody fee rate of 0.08%, and a **comprehensive fee rate of 0.38%, which is relatively low among ETFs tracking the same index.** Data source: Shanghai and Shenzhen Stock Exchanges, etc. Institutional views source: Guojin Securities 20260621 "Domestic Models & Domestic Computing Power Shine Together"; Galaxy Securities 20260626 "Sector Maintains Strength, Focus on Performance Exceeding Expectations." ETF fee-related notes: When investors subscribe or redeem fund shares, the subscription and redemption agency may charge a commission not exceeding 0.5%, which includes related fees charged by securities exchanges, registration agencies, etc. Linked fund fee-related notes: The subscription fee rate for Hwabao SSE STAR Chip ETF Linked A (front-end load) is 1,000 yuan per transaction for subscription amounts of 2 million yuan (inclusive) and above, 0.2% for amounts between 1 million yuan (inclusive) and 2 million yuan, and 0.5% for amounts below 1 million yuan; the redemption fee rate is 1.5% for holding periods of less than 7 days, and 0% for holding periods of 7 days (inclusive) and above. Hwabao SSE STAR Chip ETF Linked C does not charge a subscription fee, and the redemption fee rate is 1.5% for holding periods of less than 7 days, and 0% for holding periods of 7 days (inclusive) and above; The sales service fee is 0.2%. Risk Warning: The Hwabao WP SSE STAR Chip ETF passively tracks the SSE STAR Chip Index, with a base date of December 31, 2019, and a publication date of June 13, 2022. This product is issued and managed by Hwabao Fund, and the distribution institutions do not bear the responsibility for the investment, redemption, and risk management of the product. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Information Summary," and other legal documents of the fund to understand the risk-return characteristics of the fund and choose products that match their risk tolerance. The fund manager assesses the risk rating of this fund as R4 - medium to high risk, suitable for investors with an appropriateness rating of C4 and above. **The performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Past performance of the fund does not indicate its future performance; the fund has risks, and investment should be cautious!** Sales institutions (including direct sales institutions of the fund manager and other sales institutions) conduct risk assessments of this fund in accordance with relevant laws and regulations. Investors should pay attention to the appropriateness opinions issued by the fund manager in a timely manner. The appropriateness opinions from various sales institutions may not necessarily be consistent, and the risk level evaluation results of the fund products issued by the fund sales institutions must not be lower than the risk level evaluation results made by the fund manager. There may be differences in the fund's risk-return characteristics and risk ratings in the fund contract due to different considerations. Investors should understand the risk-return situation of the fund and carefully choose fund products based on their investment objectives, time horizon, investment experience, and risk tolerance, and bear the risks themselves. The registration of this fund by the China Securities Regulatory Commission does not indicate any substantive judgment or guarantee regarding the investment value, market prospects, and returns of this fund. 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