On May 20th, domestic semiconductor equipment surged again, with AMEC, NAURA, and Tuojing Technology reaching new intraday highs, and Shanghai Hejing hitting the daily limit. The Semiconductor Equipment ETF China Merchants (561980) rose 2.32% as of 10:31, with a year-to-date increase of nearly 60%, refreshing its intraday price for the 18th time this year.
According to data from the China Securities Index official website, this ETF tracks the CSI Semiconductor Index, with weighted stocks NAURA and AMEC accounting for a combined 29%, and Cambrian and Haiguang Information accounting for a combined 15%. As of yesterday's close, this index has cumulatively risen 416% since 2020, ranking first among similar indices in the sci-tech chip and semiconductor materials and equipment sectors.
On the news front, according to the official website of the China Securities Regulatory Commission, Yangtze Memory Technologies has completed its IPO counseling filing. Dongguan Securities pointed out that as the only 3D NAND chip manufacturer in China, Yangtze Memory currently holds about 8% of the global NAND Flash market share, with significant room for expansion compared to overseas giants.
Previously, according to the official website of the Shanghai Stock Exchange, Changxin Technology updated its prospectus for the Sci-Tech Innovation Board, reporting a net profit attributable to the parent company of 24.762 billion yuan in the first quarter, a year-on-year increase of 1688%. Guosheng Securities noted that Changxin is the fourth largest DRAM manufacturer globally, and after going public, it is expected to be the second largest IPO project in terms of fundraising scale since the establishment of the Sci-Tech Innovation Board, aiming to raise 29.5 billion yuan, with a high probability of listing in the second half of the year.
Fang Junyi, the fund manager of the Semiconductor Equipment ETF China Merchants (561980), pointed out that AI-driven capacity expansion is in a high boom, coupled with the listing rhythm of the two storage companies expected to continue to advance, which may bode well for the performance of the technology self-control sector in the future. In terms of investment value in semiconductor equipment and materials, it has a strong beta + localization + broad demand triple fundamental beta, which is not a pulse-like high growth, but a significant upward shift of the overall center.
The first beta: Benefiting from the strong demand for advanced processes and advanced storage chips driven by AI, the global market has entered a capital expenditure expansion cycle, driving continuous upward movement in global semiconductor equipment and related sectors;
The second beta: Due to supply chain security considerations, domestic efforts have increased towards leading companies in equipment and materials, with product validation and business volume of related companies continuing to advance;
The third beta: Considering the localization supply share in advanced processes and advanced storage chips, wafer fabs represented by the two storage companies, SMIC, and Hua Hong continue to grow rapidly, bringing a broad demand market.
China Merchants Securities also believes that SEMI expects the global semiconductor equipment market growth to continue until 2029, with core drivers coming from advanced processes, DRAM, HBM, and NAND. If the IPOs of the two storage companies proceed in an orderly manner, the certainty of future capacity expansion is extremely strong, with equipment orders continuing to improve, and the materials sector is also expected to welcome large-scale growth

688012

002371

159995

159325

512480

561980

512760

The Semiconductor Equipment ETF China Merchants (561980) has risen nearly 60% this year, with the intraday price hitting a new high for the 18th time. Domestic equipment stocks such as AMEC and NAURA have also reached new highs. Yangtze Memory Technologies has completed its IPO guidance filing, and Changxin Technology has updated its prospectus, expecting to be listed in the second half of the year. Fund managers point out that AI-driven capacity expansion and the performance of the technology self-reliance sector are worth paying attention to

同壁财经

AMEC

NAURA

ChinaAMC Guozheng Semiconductor Chip ETF

China Southern CSI Semiconductor Industry Custom ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

China Merchants CSI Semiconductor Industry ETF

Guotai CES Semiconductor Chip Industry ETF

Piotech

XDLK

Cambricon

Hygon Information Technology

SMIC

HUA HONG SEMI

Hua Hong

CMSC

SMIC HK SDR 5to1

The Semiconductor Equipment ETF China Merchants (561980) hits a new high for the 18th time this year! Fund Manager: The pace of dual listing is accelerating, and the overall center of domestic equipment has significantly shifted upward