Market consolidation took hold on Tuesday (September 10) as all major A-share indices closed in the red, with the benchmark index tracking the 30% Apple supply chain-heavy Huabao Electronic ETF (515260) retreating 0.78% during the session after touching a high of 0.44% intraday.

Several constituent stocks delivered standout performances despite the broader downturn. CPO concept stock Universal Scientific Industrial Co., Ltd. (601231) hit its daily limit up, while foldable Apple chain leader Lingyi Itech (Guangdong) Company (002600) surged more than 8.5% in early trading before closing up over 3%. PCB giant Shennan Circuits Co., Ltd. and semiconductor equipment leader Changchuan Technology Co., Ltd. both advanced more than 2%. On the flip side, Lens Technology Co., Ltd. and VeriSilicon Microelectronics Co., Ltd. declined over 3%, leading the downside and weighing on the index performance.

Two Key Transmission Chains From Apple's Launch

On the news front, Apple held its autumn new product launch event in the early hours of Beijing time today. On the foldable front, the book-style horizontal foldable iPhone Duo was officially unveiled, featuring a 5.4-inch external display and a 7.6-inch internal screen, with the hinge mechanism, crease control, and iOS 27 split-screen ecosystem highlighted as its biggest selling points. For the Pro iteration, the new Pro/Pro Max models feature brand-new chips, a smaller Dynamic Island, and enhanced imaging capabilities, with modest performance upgrades and minimal design changes.

Market analysts note that the impact of Apple's product launch is transmitted to A-shares through two distinct supply chain channels. The first chain involves the foldable screen driving a revaluation of per-device value for Apple supply chain companies. Approximately 76% of the incremental material costs for foldable devices come from display modules and mechanical structural components, with hinges and structural parts being the core new additions. Taking Lingyi Itech (Guangdong) Company (002600) as an example, securities firms estimate the company's per-device value in the iPhone foldable at approximately $80 to $100, and based on assumptions of 15 million to 20 million units in lifecycle orders, this translates to incremental revenue of $531 million to $661 million (approximately RMB 3.6 billion to 4.5 billion).

Industry projections suggest the foldable iPhone could capture roughly 25% of the global foldable market share this year, which would undoubtedly deliver new earnings growth for A-share Apple supply chain companies. Data shows that the constituent stocks of the Huabao Electronic ETF (515260) include Apple supply chain heavyweights such as Lingyi Itech (Guangdong) Company (002600), Universal Scientific Industrial Co., Ltd. (601231), Luxshare Precision Industry Co., Ltd., GigaDevice Semiconductor (Beijing) Inc., Foxconn Industrial Internet Co., Ltd., and Avary Holding (Shenzhen) Co., Ltd., with Apple supply chain stocks accounting for a combined weight of 29.58% as of the end of August.

The second chain centers on memory price increases, which bolster manufacturers' margins and transmit upstream. Memory manufacturers and module makers have already realized profits in their mid-2026 earnings reports, with ChangXin Memory Technologies seeing first-half revenue surge more than eightfold year-over-year and Biwin Storage Technology Co., Ltd. recording approximately a threefold revenue increase. As manufacturers' profitability improves significantly, their capital expenditures are expected to expand further, driving orders for semiconductor equipment, materials, and advanced packaging through new wafer fab construction and production line upgrades. Simultaneously, memory serves as a bellwether for the electronics sector, and its price uptrend validates the authenticity and sustainability of AI computing demand, potentially lifting the entire sector's valuation center.

The Huabao Electronic ETF (515260) constituent stocks cover memory chips, semiconductor equipment, advanced packaging, and PCB sectors, positioning the fund to fully benefit from this AI-driven electronics cycle. On the fundamentals front, mid-2026 earnings reports reveal that 45 of the 50 constituent stocks (90%) were profitable. In terms of net profit attributable to parent companies, Foxconn Industrial Internet Co., Ltd. and Longsys Electronics Co., Ltd. led with RMB 23.74 billion and RMB 10.577 billion respectively. On year-over-year net profit growth, Longsys Electronics Co., Ltd. posted a staggering 715-fold increase, followed by Biwin Storage Technology Co., Ltd. at 33-fold, Piotech Inc. at 13-fold, and GigaDevice Semiconductor (Beijing) Inc. at 11-fold, with a total of 15 constituent stocks achieving net profit growth exceeding 100%.

Price Hikes, AI, and Self-Sufficiency Could Drive the Electronics Sector All Year

The Huabao Electronic ETF (515260) and its feeder funds (Class A: 012550, Class C: 012551) passively track the Electronics 50 Index, with strategic allocations across semiconductors, components, and consumer electronics. The fund encompasses PCB names like Suzhou Dongshan Precision Manufacturing Co., Ltd., memory chip makers such as Longsys Electronics Co., Ltd., semiconductor equipment providers like ACM Research (Shanghai), Inc., advanced packaging specialists including JCET Group Co., Ltd., glass substrate producers like BOE Technology Group Co., Ltd., semiconductor wafer suppliers such as National Silicon Industry Group Co., Ltd., and MLCC manufacturers including Sunlord Electronics Co., Ltd.. The fund maintains deep ties with global technology leaders, with constituent stocks integrated into the Apple, NVIDIA, and Google supply chains.

Source: Shanghai and Shenzhen stock exchanges, as of September 10, 2026. Note: The individual stocks mentioned in this article are all constituent stocks of the Huabao Electronic ETF (515260) benchmark index, with weightings as of end-August: Universal Scientific Industrial Co., Ltd., 0.32%; Lingyi Itech (Guangdong) Company, 0.78%; Shennan Circuits Co., Ltd., 1.67%; Changchuan Technology Co., Ltd., 2.06%; Lens Technology Co., Ltd., 1.29%; VeriSilicon Microelectronics Co., Ltd., 1.40%; Luxshare Precision Industry Co., Ltd., 4.89%; GigaDevice Semiconductor (Beijing) Inc., 4.51%; Foxconn Industrial Internet Co., Ltd., 4.28%; Avary Holding (Shenzhen) Co., Ltd., 1.08%; Biwin Storage Technology Co., Ltd., 1.48%; Piotech Inc., 2.23%; Longsys Electronics Co., Ltd., 1.61%; Suzhou Dongshan Precision Manufacturing Co., Ltd., 4.23%; ACM Research (Shanghai), Inc., 0.73%; JCET Group Co., Ltd., 1.81%; BOE Technology Group Co., Ltd., 3.64%; National Silicon Industry Group Co., Ltd., 0.68%; Sunlord Electronics Co., Ltd., 2.57%.

The index constituent stocks mentioned herein are for illustrative purposes only. Stock descriptions do not constitute investment advice of any form, nor do they represent the holdings or trading activities of any fund managed by the fund manager. The MACD golden cross signal has formed, and these stocks are showing upward momentum!