On the afternoon of January 5th, Hong Kong technology stocks maintained their strength. The Hong Kong Information Technology ETF (159131), the first ETF in the entire market to focus on the "Hong Kong stock chip" industry chain, opened higher in the morning session and maintained slight fluctuations, currently up 3.19% with real-time turnover exceeding 70 million yuan.
In terms of constituent stocks, Hong Kong-listed brain-computer interface concept stock Nanjing Panda Electronics surged ahead, skyrocketing over 40%, while iFlytek Health Technology rose more than 9%, Q Technology gained over 7%, Shanghai Fudan Microelectronics increased over 5%, 4Paradigm advanced more than 4%, Hua Hong Semiconductor climbed over 2%, and SMIC rose 1%.
The news backdrop is a wave of IPOs for hard tech companies in Hong Kong. Following the "first Hong Kong-listed GPU stock" Biren Technology, Baidu's Kunlunxin has reportedly initiated its Hong Kong IPO. Concurrently, large model concept stocks Knowledge Atlas and MiniMax are scheduled to list on the Hong Kong Stock Exchange on January 8th and January 9th, respectively, becoming the first significant listings for domestic large models.
According to data from China Insights Consultancy, the market size for intelligent computing chips in China grew from $1.7 billion in 2020 to $30.1 billion in 2024, achieving a compound annual growth rate of 105%. It is projected to reach $201.2 billion by 2029, with a CAGR of 46.3% from 2024 to 2029. This growth rate significantly outpaces the global market, providing substantial development opportunities for domestic GPU companies like Biren Technology.
Galaxy Securities predicts that global semiconductor equipment sales will reach $133 billion in 2025, a year-on-year increase of 13.7%. AI-related investments are expected to drive advancements in advanced logic, memory, and packaging technologies, bringing industrial chain benefits to domestic GPU companies.
Targeting the Hong Kong stock chip super cycle! The Hong Kong Information Technology ETF (159131) is the first ETF in the entire market to focus on the "Hong Kong stock chip" industry chain and allows for T+0 trading. Its underlying index is composed of "70% hardware + 30% software," heavily weighted in Hong Kong-listed "semiconductors + electronics + computer software." It covers 42 Hong Kong-listed hard tech companies, with SMIC having a weight of 20.48%, Xiaomi Group-W at 9.53%, and Hua Hong Semiconductor at 5.80%. The ETF excludes large-cap internet enterprises like Alibaba, Tencent, and Meituan, offering higher focus and making it easier to capture the AI hard tech trend in Hong Kong stocks. (Data as of November 30, 2025)
Data source: China Securities Index Company, Shanghai and Shenzhen Stock Exchanges.
Note: "First in the entire market" refers to the first ETF tracking the CSI Hong Kong Stock Connect Information Technology Composite Index. The CSI Hong Kong Stock Connect Information Technology Composite Index sets a maximum single stock weight limit of 15%. The weight proportion may change accordingly with fluctuations in individual stock market capitalization, potentially exceeding 15%. The index constituents are adjusted semi-annually, at which point the weight of a single constituent is generally rebalanced to the 15% limit. Recent market volatility may be significant, and short-term gains or losses do not indicate future performance. Investors must make rational investments based on their own capital situation and risk tolerance, paying high attention to position and risk management.
Risk Warning: The Hong Kong Stock Connect Information Technology ETF passively tracks the CSI Hong Kong Stock Connect Information Technology Composite Index. The base date for this index is November 14, 2014, and it was published on June 23, 2017. The index constituents mentioned in the material are for display purposes only; descriptions of individual stocks do not constitute investment advice in any form, nor do they represent the holdings or trading动向 of any fund under the management of the fund manager. This product is issued and managed by Huabao Fund. Selling agencies do not undertake the investment, redemption, and risk management responsibilities for the product. Investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Summary," and other fund legal documents to understand the fund's risk-return characteristics and choose a product that matches their own risk tolerance. Past performance of the fund does not predict its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment requires caution! The fund manager assesses this fund's risk level as R4 - Medium to High Risk, suitable for Aggressive (C4) and above investors. Selling institutions (including the fund manager's direct sales agencies and other selling agencies) evaluate the risk of this fund according to relevant laws and regulations. Investors should promptly pay attention to the appropriateness opinions issued by selling institutions and base their decisions on the matching results. Appropriateness opinions from different selling agencies may not necessarily be consistent, and the risk level evaluation results for the fund product issued by fund selling institutions shall not be lower than the risk level evaluation result made by the fund manager. There are differences between the fund's risk-return characteristics described in the fund contract and the fund's risk level due to different consideration factors. Investors should understand the risk-return situation of the fund and make prudent choices of fund products based on their own investment objectives, term, experience, and risk tolerance, and bear the risks themselves. The China Securities Regulatory Commission's registration of this fund does not indicate a substantive judgment or guarantee of its investment value, market prospects, or returns. Funds carry risks, investment requires caution.
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