--- title: "CPO, PCB and other weighted sectors surged, with the ChiNext index rebounding strongly, rising 2.6% to lead mainstream broad-based indices. Attention is drawn to Tianhong ChiNext ETF Connect A (001592)" type: "News" locale: "en" url: "https://longbridge.com/en/news/287318749.md" description: "On May 22, the ChiNext index rebounded strongly, rising by 2.6%, with weighted sectors such as CPO and PCB leading the gains. VGT rose over 11%, and TFC rose over 10%. Tianhong ChiNext ETF Connect A (001592) closely tracks the ChiNext index and benefits from the expansion of AI computing power. Morgan Stanley analysts pointed out that the value of NVIDIA's new product PCB has significantly increased, and the global AI server PCB market is expected to grow rapidly, with a persistent supply-demand gap in the industry" datetime: "2026-05-22T06:46:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287318749.md) - [en](https://longbridge.com/en/news/287318749.md) - [zh-HK](https://longbridge.com/zh-HK/news/287318749.md) generator: "portal-rs" --- # CPO, PCB and other weighted sectors surged, with the ChiNext index rebounding strongly, rising 2.6% to lead mainstream broad-based indices. Attention is drawn to Tianhong ChiNext ETF Connect A (001592) On May 22, the market rebounded, with the afternoon gains expanding. On the trading floor, concepts such as CPO and PCB led the two markets. As of 14:20, the ChiNext Index rose by 2.6%, leading the mainstream broad-based indices, and re-entered above 3900 points. Among the heavyweight stocks, VGT rose over 11%, TFC rose over 10%, Xinyise rose over 7%, and Zhongji Xuchuang rose over 4%. Tianhong ChiNext ETF Connect A (001592) closely tracks the ChiNext Index, covering leading companies in optical modules such as Zhongji Xuchuang, Xinyise, and TFC, with "Yizhongtian" accounting for over 22%. The optical communication content is prominent, significantly benefiting from the expansion of AI computing power. In the CPO field, major manufacturers are accelerating their research and layout for future products. According to the situation at the 21st "Optical Expo," new cutting-edge solutions such as 6.4T NPO and 12.8T XPO are continuously emerging, and the pace of technological iteration has significantly accelerated. At the same time, due to the explosive growth of AI computing power, the value of NVIDIA's new product PCB has greatly increased. Morgan Stanley analysts pointed out in a report on May 22 that the procurement price for NVIDIA's upcoming Vera Rubin (VR200) rack ODM is approximately $7.8 million, a significant increase compared to the current GB300 Blackwell rack, which is less than $4 million. Among them, the PCB value of VR200 has jumped from about $35,000 for GB300 to about $117,000, an increase of 233%. This is mainly due to the introduction of new modules and the comprehensive enhancement of the number of circuit board layers and material grades. According to statistics from Soochow Securities Co., Ltd., the global AI server PCB market size is expected to soar from $3 billion in 2024 to over $20 billion by 2027, with year-on-year growth rates expected to exceed 100% and 70% in 2026 and 2027, respectively. The trend of "simultaneous increase in volume and price" in the industry is already very clear, and the supply-demand gap for high-end products is expected to continue to exist, with price increases likely to extend from 2026 to 2027. Tianhong ChiNext ETF Connect A (001592), Tianhong ChiNext ETF Connect C (001593), and Tianhong ChiNext ETF Connect Y (022960) track the ChiNext Index, which is composed of 100 leading companies selected from the ChiNext based on large market capitalization and good liquidity. The characteristics of the index are prominent: **Focus on "New Economy" and "High Growth":** The industry distribution of the ChiNext Index cost stocks is highly concentrated in strategic emerging industries such as batteries (new energy) 24.3%, communication equipment (CPO) 23.8%, semiconductors 6.1%, and photovoltaic equipment 5.2%, and is regarded as a "weather vane" for new economy investment in China. (Data source: Wind, as of May 21) **Highly Elastic "Bull Market Pioneer":** The components of the ChiNext Index are mostly high-growth innovative enterprises, including battery leader CATL, CPO giant Zhongji Xuchuang, New Yisheng, TFC, and PCB leader VGT, among others. The ChiNext Index often demonstrates strong explosive power during historical bull markets and is commonly referred to as the "pioneer of bull market rises"—as of May 21, the ChiNext Index has risen 85.43% in nearly one year. (Data source: Wind, as of May 21) In terms of fees, Tianhong ChiNext ETF Connect (Class A: 001592, Class C: 001593, Class Y: 022960) has an annual management fee of 0.15% and a custody fee of 0.05%; additionally, the Class A subscription fee is 1% (sales channels usually offer a 10% discount), and the redemption fee drops to 0.05% if held for more than 30 days; Class C has no subscription or redemption fees, charging an annual sales service fee of 0.20%. The green energy sector has strong defensive attributes and relatively controllable volatility, making Class A a better choice for long-term holding; Class C is more flexible for short-term trading or regular investment; Class Y: retirement lock-up, tax-advantaged regular investment. Please refer to the sales channel for final fee discounts. 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