---
title: "High \"Light\" GEM Artificial Intelligence ETF Huabao (159363) Strong V-shaped Rally"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40163299.md"
description: "In the afternoon of April 24, the optical module CPO sector saw significant pullback and recovery. Eoptolink's decline narrowed to 8%, while Zhongji Innolight turned positive strongly. Coupled with the strength of Deepseek concept stocks, the AI sector on the ChiNext board saw its decline narrow to 2%. Among them, Fullhan Microelectronics hit the 20% daily limit up, Runhe Software rose over 10%, and Ruijie Networks, Sangfor Technologies, etc., surged over 5%. For popular ETFs, the ChiNext AI ETF Huabao (159363), heavily invested in the optical module leader "YiZhongTian," experienced a V-shaped rebound, with its on-site decline narrowing to 2%..."
datetime: "2026-04-24T07:04:48.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40163299.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40163299.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40163299.md)
author: "[同壁财经](https://longbridge.com/en/profiles/26505347.md)"
---

# High "Light" GEM Artificial Intelligence ETF Huabao (159363) Strong V-shaped Rally

On the afternoon of April 24, **the optical module CPO sector significantly rebounded and recovered, with Eoptolink's decline narrowing to 8%**, and **Zhongji Innolight strongly turning positive**. Coupled with the strength of Deepseek concept stocks, the decline in the GEM AI index narrowed to 2%. Among them, Fullhan Microelectronics hit the 20% daily limit up, Runhe Software rose over 10%, and Ruijie Networks, Sangfor Technologies, etc., surged over 5%.

For popular ETFs, the **GEM Artificial Intelligence ETF Huabao (159363)**, which is heavily invested in the leading optical module stocks "Yi Zhong Tian," **experienced a V-shaped rebound, with its on-market decline narrowing to 2%, seeing a large net subscription exceeding 200 million units and a real-time turnover exceeding 1.4 billion yuan.**

On the news front, on the evening of April 23, the high-flying stock Eoptolink released its Q1 financial report. The company's Q1 operating revenue was RMB 8.338 billion, a year-on-year increase of 105.76%; **net profit attributable to the parent company was RMB 2.780 billion, a year-on-year increase of 76.80%, but a quarter-on-quarter decrease of 13%**. Analysis pointed out that while Q1 revenue grew significantly, exchange losses dragged net profit below expectations, but **Goldman Sachs and Citigroup, two foreign institutions, remain firmly optimistic.**

According to the Wind Trading Desk, Goldman Sachs analyst Ting Song clearly stated in the report that the lower-than-expected net profit was mainly due to exchange losses pushing up financial expenses, which is a non-operational disturbance, **and does not change the judgment on the company's subsequent fundamentals.**

Citigroup also stated in its report that the Q1 report does not affect Eoptolink's robust prospects, citing the company's explanation that the flat quarter-on-quarter revenue was mainly due to tight raw materials and production capacity, and **this situation is expected to gradually improve from the second quarter.**

**Regarding the overall optical module CPO sector, institutions suggest that the valuation of leading companies still has room for further improvement.** GF Securities stated that the valuation of leading optical module companies has been partially restored recently, but the company's 2027 PE **remains relatively low.** Based on past experience, the valuation anchor for leading optical module companies is generally 15-20x PE for the following year. We **are optimistic about the sustainability of this round of the optical module rally**, especially the competitive moats, material procurement capabilities, and long-term product layout advantages of leading companies, and **their valuations are expected to further improve.** \*

**To capture opportunities in leading optical module CPO stocks with one click**, it is recommended to focus on the **GEM Artificial Intelligence ETF Huabao (159363)**, which ranks first in scale and liquidity among similar products, and its off-exchange feeder funds (Class A 023407, Class C 023408). The underlying index allocates approximately **70% of its portfolio to computing power** (leading optical module/CPO stocks), **covering "Yi Zhong Tian" comprehensively**, and about **30% to AI applications**, making it not only a core computing power play but also a representative of AI applications.

Data source: Shanghai and Shenzhen Stock Exchanges, etc. As of April 17, 2026, the latest size of the GEM Artificial Intelligence ETF Huabao is RMB 6.531 billion, with an average daily turnover exceeding RMB 700 million in the past 6 months, ranking first in both size and turnover among the 26 ETFs tracking the GEM AI Index, STAR Market AI Index, and STAR Market & GEM AI Index.

\* Reference for institutional views: GF Securities, "Reviewing the Sustainability of This Round of the Optical Module Rally from the Past Two Years' Performance."

ETF Fund Fee Description: When investors subscribe for or redeem fund units, the subscription/redemption agency may charge a commission not exceeding 0.5%. On-market trading fees are subject to the actual charges by securities companies, and no sales service fee is charged.

Feeder Fund Fee Description: GEM Artificial Intelligence ETF Feeder Fund C does not charge a subscription fee; the redemption fee is 1.5% within 7 days, and 0% for 7 days (inclusive) or more; the sales service fee is 0.3%. GEM Artificial Intelligence ETF Feeder Fund A charges a subscription fee of 1% for amounts below RMB 1 million, 0.6% for RMB 1 million (inclusive) to RMB 2 million, and RMB 1,000 per transaction for RMB 2 million (inclusive) or more; the redemption fee is 1.5% within 7 days, and 0% for 7 days (inclusive) or more; no sales service fee is charged.

Risk Disclosure: The GEM Artificial Intelligence ETF Huabao passively tracks the GEM Artificial Intelligence Index. The base date of this index is December 28, 2018, and its release date is July 11, 2024. The annual performance of the GEM Artificial Intelligence Index from 2021 to 2025 was: 17.57%, -34.52%, 47.83%, 38.44%, 106.35%. **The composition of the index constituents is adjusted according to the index compilation rules, and its back-tested historical performance does not indicate future index performance.** The index constituents mentioned in this article are for display only. Descriptions of individual stocks do not constitute investment advice in any form, nor do they represent the holdings or trading activities of any fund managed by the fund manager. The fund manager assesses the risk level of this fund as R4 - Medium to High Risk, suitable for aggressive (C4) and above investors. Suitability matching opinions should be based on the sales institution. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, expressions of any form, etc.) is for reference only. Investors are responsible for any independent investment decisions. Furthermore, any views, analyses, or forecasts in this article do not constitute investment advice of any form to readers, and no responsibility is assumed for any direct or indirect losses arising from the use of this content. **Fund investment involves risks. The past performance of a fund does not indicate its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment should be approached with caution.**

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