Despite market consolidation, the Electronic ETF (515260), which aggregates core leaders in the electronics sector, remained active against the trend. Its intraday price surged over 1.8% before closing up 1.37%, securing a four-day winning streak and reclaiming the 60-day moving average.

Among its constituents, printed circuit board (PCB) stocks led the gains, with six out of the top 10 performers in the Electronic ETF's benchmark index belonging to the PCB segment. Victory Giant Technology(Huizhou) Co.,Ltd. surged over 10%, Shengyi Technology rose more than 7%, and PCB Bancorp advanced over 6%. Additionally, consumer electronics leader Foxconn Industrial Internet gained over 7%, while AI chip pioneer Cambricon edged up 1.28%, surpassing Kweichow Moutai to become A-shares' highest-priced stock.

In terms of capital flows, the electronics sector attracted a net inflow of over 15.4 billion yuan in a single day. Over the past 5, 20, and 60 days, the sector drew 53 billion yuan, 126.3 billion yuan, and 331.7 billion yuan, respectively, maintaining its position as the top fund magnet among 31 Shenwan primary industries. Victory Giant Technology(Huizhou) Co.,Ltd., a constituent of the Electronic ETF, saw net inflows exceeding 3.1 billion yuan, topping the A-share fund attraction chart.

Nvidia's approval to sell H200 chips to China has raised questions about its impact on the PCB sector. Huatai Securities noted that H200's high bandwidth demands will not only boost optical module requirements but also drive PCB upgrades toward high-frequency, high-speed, and multi-layer boards. As a core component of computing hardware, PCBs stand to benefit from both volume and price increases. Long-term AI computing infrastructure development will sustain demand for high-end PCBs, underpinning clear industry growth logic.

Zheshang Securities highlighted that AI demand and high-end PCB technological advancements could push global PCB output value to $94.661 billion by 2029. With domestic high-end PCB equipment localization below 30%, the sector is poised to benefit from import substitution. Chinese leaders are also gaining global competitiveness in drilling, lithography, and electroplating, presenting accelerated breakthrough opportunities for PCB industry leaders.

For investment exposure, the Electronic ETF (515260) and its linked funds (Class A: 012550/Class C: 012551) track the Electronic 50 Index, heavily weighted in semiconductors and consumer electronics, while covering AI chips, automotive electronics, 5G, cloud computing, and PCBs. External pressures are accelerating China's semiconductor supply chain independence, while AI is redefining consumer electronics functionality and user experience. Backed by national policies and industrial support, the electronics sector is positioned for growth.

Risk Disclosure: The Electronic ETF and its linked funds passively track the CSI Electronic 50 Index (base date: 2008.12.31; launch date: 2009.7.22). Index constituents are adjusted per its rules, and historical performance does not indicate future results. Mentioned stocks/index components are for illustrative purposes only and do not constitute investment advice or reflect fund holdings. The manager rates the Electronic ETF as R3-medium risk, suitable for balanced (C3) or higher-risk investors. All information herein is for reference only, and investors must bear responsibility for independent decisions. No liability is accepted for direct/indirect losses from using this content. Past fund performance does not guarantee future returns.