Or due to Huawei's "Tao (τ) Law" igniting the electronics sector, including PCBs and chips, yesterday (May 25th), the electronic ETF Hwabao (515260), which aggregates the core leading stocks in the electronics sector, strongly surged 5.35%, continuing to refresh its all-time high since listing! The total transaction amount for the day was 138 million yuan, a month-on-month increase of 82%, setting a new high for the year!

The ETF's volume breakout surpassing its listing high may signal a buying point for funds! In fact, the electronic ETF Hwabao (515260) attracted 53.53 million yuan in a single day yesterday, and this ETF has continuously attracted funds for the past 5 trading days, totaling 88.27 million yuan. Looking at a longer time frame, it has amassed 91.65 million yuan in the past 10 days.

In terms of constituent stocks, Changdian Technology, Huagong Technology, Pegatron, and Tongfu Microelectronics all hit the daily limit, while SMIC reached a 20CM limit during the trading session, with its stock price continuing to set historical highs. Stocks such as Cambricon, Zhaoyi Innovation, Shengmei Shanghai, and Tuojing Technology also set historical highs.

On the news front, on May 25th, the "People's Sharp Commentary" public account stated that Huawei officially announced the "Tao (τ) Law", proposing to replace "geometric contraction" with "time contraction" through innovative technologies such as logical folding, achieving the continuous evolution of semiconductors and electronic systems. Moreover, Huawei validated the feasibility, effectiveness, and commercial prospects of this law with the mass production of 381 types of chips, providing multiple insights for China's construction of a strong technological nation and achieving technological self-reliance.

At the same time, positive signals have also emerged in the power semiconductor field. Changjiang Securities pointed out that AI-driven power semiconductors are on the rise, and the industry is expected to start a new round of price increases by mid-year. The core driving force behind this round of prosperity is the demand expansion triggered by the migration of AI computing power infrastructure to HVDC power supply architecture. The simultaneous price increases of MOSFETs and IGBTs are driven by the threefold factors of AI data centers, new energy vehicles, and upstream costs.

In terms of PCBs, Nvidia's next-generation Rubin platform will adopt an orthogonal backplane architecture, replacing copper cables with ultra-high layer (over 100 layers) and M9-grade materials PCBs, driving the value of a single machine's PCB to more than double. Guojin Securities pointed out that the demand for AI in the short and medium term is strong, and currently, many AI-PCB companies have strong orders, are operating at full capacity, and are vigorously expanding production, with high growth in performance expected to continue Looking ahead, CITIC Securities is optimistic that "price increases + AI + self-controllable" is expected to become a strong main line throughout the year for the electronics sector. The prosperity of the electronics industry is expected to continue, with AI remaining the biggest driving force, the resonance growth of overseas and domestic computing power, and the acceleration of advanced logic and storage expansion, firmly optimistic about the overall future market of the electronics sector.

Over a longer time frame, the electronic ETF Hwabao (515260) benchmark index (Electronic 50 Index) has increased by 131.66% in the past year, outperforming CS Electronics (123.57%) and other similar electronic indices, and also outperforming the ChiNext 50 (115.11%), Sci-Tech 50 (93.36%), and CSI 300 (26.77%) and other major broad-based indices.

Data statistics period: 2025.5.25-2026.5.25. The annual returns of the Electronic 50 Index over the past five complete years are: 2021, 3.27%; 2022, -38.63%; 2023, 1.03%; 2024, 27.45%; 2025, 43.49%. The composition of the index constituents is adjusted in accordance with the index compilation rules, and its historical performance does not predict future performance.

【Embrace Tech Giants, Seize Development Opportunities】

The electronic ETF Hwabao (515260) and its linked funds (Class A: 012550/Class C: 012551) passively track the Electronic 50 Index, heavily investing in the semiconductor and consumer electronics industries, gathering popular sectors such as AI chips, automotive electronics, 5G, and printed circuit boards (PCB), with major stocks including Luxshare Precision, Cambricon, Industrial Fulian, and SMIC. At the same time, this ETF is a margin trading + interconnection target, serving as an efficient tool for one-click allocation of core assets in the electronics sector.

It is worth mentioning that the electronic ETF Hwabao (515260) benchmark index covers popular tech concepts, and as of the end of April, the weightings of the Apple, Nvidia, and Google supply chains are 47.34%, 28.56%, and 24.57%, respectively, deeply binding the growth and development of global tech leaders, expected to benefit from the industrial expansion and technological innovation of tech giants.

Risk Warning: The electronic ETF Hwabao Passive Tracking CSI Electronic 50 Index, with a base date of December 31, 2008, was published on July 22, 2009. The composition of the index constituents is adjusted in a timely manner according to the index compilation rules, and its historical performance does not predict future performance. The individual stocks and index constituents mentioned in this article are for display purposes only; the descriptions of individual stocks do not constitute any form of investment advice and do not represent the holdings or trading directions of any funds managed by the manager. The fund manager assesses the risk level of the electronic ETF as R3 - medium risk, suitable for balanced (C3) 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, any form of expression, etc.) is for reference only, and investors must be responsible for any investment decisions they make independently. Furthermore, any opinions, analyses, and forecasts in this article do not constitute any form of investment advice to the reader, nor does it bear any responsibility for any direct or indirect losses arising from the use of the content of this article. Fund investments carry risks, the past performance of the fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance; fund investments should be made with caution.