--- title: "One step closer to mass production: The Sci-Tech Innovation Board Chip Design ETF Pudian (589250) focuses on chip design on the STAR Market" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/43149422.md" description: "Last week, China's "King of Storage," CXMT (ChangXin Memory Technologies), was highly favored by the market, with net main force capital inflows reaching 72.113 billion yuan in a single week. Industry insiders revealed that CXMT's LPDDR6 (sixth-generation low-power double data rate memory standard) is nearing the end of its R&D verification phase, which is a crucial step before mass production. Market rumors from March indicated that CXMT, under ChangXin Memory Technologies, is actively pushing for the commercialization of LPDDR6 products and has already sent samples to core customers, with a potential launch and mass production introduction expected in the second half of 2026..." datetime: "2026-08-03T08:02:27.000Z" locales: - [en](https://longbridge.com/en/topics/43149422.md) - [zh-CN](https://longbridge.com/zh-CN/topics/43149422.md) - [zh-HK](https://longbridge.com/zh-HK/topics/43149422.md) author: "[同壁财经](https://longbridge.com/en/profiles/26505347.md)" --- # One step closer to mass production: The Sci-Tech Innovation Board Chip Design ETF Pudian (589250) focuses on chip design on the STAR Market Last week, China's "King of Storage," CXMT, was highly favored by the market, with net main force capital inflows reaching 72.113 billion yuan in a single week. Industry insiders revealed that CXMT's LPDDR6 (sixth-generation low-power double data rate memory standard) is approaching the end of its R&D verification phase, which is a crucial step before mass production. In March this year, market rumors indicated that CXMT, under CXMT Technology, is actively promoting the commercialization of LPDDR6 products and has already sent samples to core customers, with a potential launch and mass production introduction expected in the second half of 2026. CXMT's IPO marks a new milestone in the development of domestic storage chips, signaling an accelerated full-chain period for domestic storage chips. For individual investors who are bullish on the STAR Market chip design sector but do not meet the 500,000 yuan account opening threshold for the STAR Market, the Pudong Development Bank STAR Market Chip Design ETF (589250) offers a low-threshold way to participate—with a minimum investment of just 100 shares. The Pudong Development Bank STAR Market Chip Design ETF (589250) closely tracks the SSE STAR Market Chip Design Theme Index (950162). This index precisely anchors chip design, a core segment of the semiconductor industry chain, providing investors with an efficient tool for one-click layout of core domestic chip assets. As of July 24, the index's annualized return over the past three years was 37.45%, significantly surpassing the 23.42% annualized return of the STAR 50 during the same period (Data source: CSI Index, as of 2026.7.24). In terms of track purity, the indexhas a digital chip design proportion of 80.8% and an analog chip design proportion of 14.67%, totaling over 95%, making it one of the indices with the highest chip design purity in the entire market (Data source: Wind, as of2026.7.24 As of the close on July 31, the Pudong Development Bank STAR Market Chip Design ETF (589250) rose 5.54%, closing at 1.18 yuan, with a trading volume of 25.9752 million yuan and a turnover rate of 22.38%. The Pudong Development Bank STAR Market Chip Design ETF (589250) closely tracks the SSE STAR Market Chip Design Theme Index (950162). Among the index's weighted stocks, Joulwatt rose 15.88%, VeriSilicon rose 13.39%, Sangfor Technologies-U rose 12.6%, Sunplus Micro rose 11.99%, Espressif Systems rose 11.78%, while SmartSens-W fell 0.03%. The Pudong Development Bank STAR Market Chip Design ETF (589250) had a total net inflow of 31.6848 million yuan over the past month. \[Industry Tailwind: AI Computing Power Demand Drives Semiconductor Hardware Demand + Continued Promotion of Chip Localization\] The explosion in AI computing power demand directly drives upstream semiconductor hardware demand—the top four North American cloud providers combined their capital expenditures to break through $315 billion in 2025. Alibaba plans to invest 380 billion yuan over the next three years in cloud computing and AI infrastructure, exceeding the sum of the past ten years. Tencent's 2025 capital expenditure plan is 100 billion yuan, of which 34.9 billion yuan was spent in Q4 2024, a year-on-year increase of 421%. The sustained high growth in AI computing power demand directly drives upstream semiconductor hardware demand, injecting a new round of structural growth opportunities into the chip design industry. The process of chip localization continues to advance: The localization ratio of AI chips reached 35% in the first half of 2025. With the continuous rise in the demand for autonomous and controllable high-end chips, chip design, as the most technology-intensive and innovation-active core link in the semiconductor industry chain, will benefit from the localization wave first. \[High Concentration of Leaders: Top Ten Weighted Stocks Total Over 64%, Covering Both Storage and AI Chip Tracks Over 50%\] Regarding index weighted stocks, the top ten weighted stocks of the SSE STAR Market Chip Design Theme Index (950162) account for over 64% in total. Among them, the storage direction (Montage Technology 10.17% + Biwin Storage 7.22% + Puya Shares 3.27%) accounts for 20.66%, and the AI chip direction (Hygon Information 11.82% + Cambricon 9.57% + VeriSilicon 7.56%) accounts for 28.95%. The two high-growth tracks account for nearly 50% in total (49.61%).For investors who are bullish on both storage chips and AI chips, this index can cover both with one click.(Data source: Wind, as of 2026.7.24) Regarding index weighted stocks, the top ten weighted stocks of the SSE STAR Market Chip Design Theme Index (950162) are as follows: Hygon Information (688041.SH) weight 11.82%, the company's sub-track is: AI Chips. Montage Technology (688008.SH) weight 10.17%, the company's sub-track is: Storage. Cambricon (688256.SH) weight 9.57%, the company's sub-track is: AI Chips. VeriSilicon (688521.SH) weight 7.56%, the company's sub-track is: AI Chips. Biwin Storage (688525.SH) weight 7.22%, the company's sub-track is: Storage. Raytron Technology (688002.SH) weight 4.57%, the company's sub-track is: Analog/Sensors. Sangfor Technologies (688702.SH) weight 3.89%, the company's sub-track is: Network Chips. Amlogic (688099.SH) weight 3.36%, the company's sub-track is: SoC. Puya Shares (688766.SH) weight 3.27%, the company's sub-track is: Storage. Joulwatt (688141.SH) weight 2.93%, the company's sub-track is: Analog Chips. (Data source: Wind, as of 2026.7.24) \[Index Long-term Performance: Up 207% Since 2023, Sharpe Ratio of 1.24 Far Exceeds STAR Market Broad-Based Indices\] For investors seeking high elasticity and able to withstand volatility, the long-term cost-effectiveness of this index is worth noting—cumulative gain since 2023 is 207.14%, compared to 69.56% for the STAR Composite Index and 73.27% for the STAR 50 during the same period; the annualized Sharpe ratio is 1.24, while the STAR 50 is only 0.74 and the STAR Composite Index is 0.73, meaning that under the same volatility, the excess return of this index is significantly higher (Data source: Wind, statistical period 2023.1.1-2026.6.12). The SSE STAR Market Chip Design Theme Index (950162) has gained 207.14% since 2023, significantly outperforming STAR Market broad-based indices, and its annualized Sharpe ratio is 1.24, far higher than that of STAR Market broad-based indices, offering a better risk-return ratio. The comparison of cumulative gains and annualized Sharpe ratios between the SSE STAR Market Chip Design Theme Index (950162) and the STAR Composite Index, STAR 50, STAR 100, and STAR 200 indices is as follows: 1\. Cumulative Gains: The cumulative gain of the SSE STAR Market Chip Design Theme Index (950162) from January 1, 2023, to June 12, 2026, was 207.14%, significantly leading the STAR Composite Index (69.56% during the same period), STAR 50 (73.27%), STAR 100 (60.47%), and STAR 200 (69.06%). 2\. Annualized Sharpe Ratio: The annualized Sharpe ratio of the SSE STAR Market Chip Design Theme Index (950162) from January 1, 2023, to June 12, 2026, was 1.24, while the STAR Composite Index was 0.73, STAR 50 was 0.74, STAR 100 was 60.47, and STAR 200 was 69.06 during the same period. The Sharpe ratio of the SSE STAR Market Chip Design Theme Index (950162) is significantly superior to that of the STAR Composite Index, STAR 50, STAR 100, and STAR 200 indices, with a significant advantage in risk-adjusted returns. (Data source: Wind, statistical period: 2023.1.1-2026.6.12, the release date of the SSE STAR Market Chip Design Theme Index is 2024-07-26, the base date is 2019-12-31, the index's annual price changes from 2021 to 2025 were (%): 7.73, -42.51, 4.75, 35.54, 60.00, and the gain since the index's release is 241.27%. Historical performance of the index does not predict future performance.) \[Fund Product Information\] \- Fund Short Name: Pudong Development Bank STAR Market Chip Design ETF \- Trading Code: 589250 \- Fund Manager Song Shiyi, Bachelor's degree from Shanghai Jiao Tong University, Master's degree from Renmin University of China, 12 years of securities industry experience, 2 years of fund management tenure \- Fund Management Fee 0.50% per year, Custody Fee 0.10% per year. (Data source: Fund Regular Reports, Wind, as of 2025.12.31) \[Fund Company Introduction\] SPDB Prudential Fund has built a "Core-Satellite" index product matrix. On-exchange ETFs cover hard tech and mainstream broad-based indices, while off-exchange index-enhanced products comprehensively cover Beijing, Shanghai, Shenzhen, and large, mid, small, and micro-cap styles. The total asset management scale exceeds 450 billion yuan, providing investors with a one-stop multi-asset allocation tool. 1\. Shareholder Background SPDB Prudential Fund is one of the earliest bank-affiliated public funds in China. Shanghai Pudong Development Bank Co., Ltd. is the largest shareholder, holding 51% equity; BNP Paribas Asset Management Holding is the second-largest shareholder, holding 39% equity; Shanghai Guosheng Group Asset Co., Ltd. is the third-largest shareholder, holding 10% equity. The advantages of Chinese and foreign resources assist in multi-asset management. 2\. Asset Management Scale As of December 31, 2025, the total asset management scale of SPDB Prudential Fund (including subsidiaries) exceeded 450 billion yuan. Its businesses develop diversely, covering asset management businesses in multiple fields such as equities, fixed income, quantitative, and alternatives, capable of providing investors with one-stop high-quality products and services. SPDB Prudential Fund has 117 public fund products under management, with a fund scale under management of 357.506 billion yuan. 3\. Differentiated Layout of Index Fund Products SPDB Prudential Fund's on-exchange and off-exchange products form a "Core-Satellite" strategy combination. On-exchange layouts include A500 ETF Pudong (159376.SZ), ChiNext ETF Pudong (159810.SZ), Photovoltaic ETF Pudong (159609.SZ), STAR Market Chip Design ETF Pudong (589250.SH), Securities ETF Pudong (516730.SH), Gaming & Media ETF Pudong (517770.SH), Grain ETF Pudong (159060.SZ), etc.; Off-exchange launches include CSI 300 Index Enhanced, CSI A50 Index Enhanced, CSI A500 Index Enhanced, STAR Market 100 Index Enhanced, STAR Market Composite Enhanced, and other broad-based index enhanced products, as well as the SPDB Prudential BSE 50 Component Index Fund tracking the BSE index, achieving comprehensive tracking of all exchanges in Beijing, Shanghai, and Shenzhen, as well as all major sectors, and also achieving comprehensive coverage of large, mid, small, and micro-cap styles in terms of style. \[Q&A\] Q1: The STAR Market threshold is 500,000 yuan. What are the low-threshold ways for retail investors to invest in STAR Market chips? A: The participation threshold for individual investors in the STAR Market is relatively high, requiring investors to have an average daily asset of no less than 500,000 yuan over 20 trading days (excluding margin financing and securities lending), and investment experience of no less than 24 months. For investors who do not meet this threshold, the minimum investment threshold for the STAR Market Chip Design ETF Pudong (589250) is only 100 shares, allowing for lower-threshold investment participation with convenient trading. Q2: Compared to the STAR 50 ETF, how is the long-term return of the index tracked by this ETF? A: The SSE STAR Market Chip Design Theme Index (950162) has gained 207.14% since 2023, while the STAR 50 was 73.27% during the same period, with the latter's gain being less than 40% of the former's (Data source: Wind, as of 2026.6.12). The core difference lies in the fact that the STAR 50 covers all industries in the STAR Market, with limited chip exposure; whereas the SSE STAR Market Chip Design Theme Index focuses on chip design companies in the STAR Market, with higher track purity. Q3: What is the difference between chip design indices and semiconductor equipment indices? A: The SSE STAR Market Chip Design Theme Index (950162) excludes semiconductor materials, equipment, manufacturing, and packaging/testing links, focusing only on chip design, the most innovative sub-direction in the semiconductor industry chain—digital chip design 79.6% + analog chip design 15.4% = 95% (Data source: Wind, as of 2026.5.29). If you are bullish on the chip design link, this index is one of the purest choices among similar ones. Q4: Storage chips have risen so much. Does this index still benefit? A: Among the top ten weights of the SSE STAR Market Chip Design Theme Index (950162),the storage direction (Montage Technology 10.17% + Biwin Storage 7.22% + Puya Shares 3.27%) accounts for 20.66% (Data source: Wind, as of 2026.7.24). The global storage chip super cycle is still ongoing. South Korea's 4,755 trillion won expansion plan points to doubling DRAM capacity in five years. The storage direction remains an important weight component of this index. Q5: Does this index have earnings support? A: The index's attributable net profit in 2025 was 13.109 billion yuan, a year-on-year increase of 191.96%; the attributable net profit in the first quarter of 2026 was 6.425 billion yuan, a year-on-year increase of 260.14% (Data source: Wind). High earnings growth, rather than pure concept speculation. Q6: What is the core difference between this fund and other semiconductor ETFs? A: The underlying index of the product is laid out in the STAR Market chip design link, excluding semiconductor materials, equipment, manufacturing, and packaging/testing. The total weight of the top ten constituent stocks is 57.15%, with concentrated computing power leaders. Q7: What standards are used to control the tracking error of this fund? A: Under normal circumstances, it strives to keep the absolute value of the daily average tracking deviation less than 0.2%, and the annualized tracking error no more than 2%. Q8: What are the advantages of investing in this fund? A: First, it precisely focuses on the core track of STAR Market chip design, with digital chips and analog chips accounting for about 95% in total (Data source: Wind, as of 2026.7.24, industry classification is Shenwan Level III Industry); Second, it benefits from the dual dividends of explosive growth in the global semiconductor market and accelerated domestic substitution; Third, the news side has received multiple positive catalysts, and industry prosperity continues to move upward; Fourth, it allows for one-click layout of chip design leaders through ETF format, dispersing individual stock risks; Fifth, it starts with 100 shares, providing a channel for individual investors who cannot meet the 500,000 yuan account opening threshold for the STAR Market. ### Related Stocks - [688002.CN](https://longbridge.com/en/quote/688002.CN.md) - [06809.HK](https://longbridge.com/en/quote/06809.HK.md) - [688008.CN](https://longbridge.com/en/quote/688008.CN.md) - [688766.CN](https://longbridge.com/en/quote/688766.CN.md) - [589250.CN](https://longbridge.com/en/quote/589250.CN.md) - [688825.CN](https://longbridge.com/en/quote/688825.CN.md)