Wednesday's session saw the AI sector under pressure, with optical module leader Zhongji Innolight Co.,Ltd. closing below the trillion-yuan market capitalization threshold. Shares of Eoptolink Technology dropped 4%, while TFC Communication reversed gains to close lower after an initial rally. Despite the pullback, market attention is turning to the high-"optical" index for potential positioning opportunities, with the ChiNext AI ETF Huabao (159363) seeing significant on-exchange activity.

In contrast, computing power leasing and AI application segments showed relative strength. King Signal led the advance with a 6.75% gain, while Copper Bull Information, Xiechuang Data, Zhaolong Interconnect, and Capital Online all closed with gains exceeding 1%. Mango Excellent Media continued its upward trajectory after securing two consecutive 20% limit-up sessions.

From a fundamental perspective, the optical module sector delivered impressive results in the first half of 2026, with the entire industry chain exhibiting a robust pattern of "overall prosperity and comprehensive growth." The sustained surge in AI computing power demand has served as the primary catalyst for the optical module segment. Industry leaders Zhongji Innolight and Eoptolink Technology spearheaded the charge, with their combined first-half net profits surpassing 21 billion yuan. Upstream optical component and optical chip segments also achieved rapid growth, with momentum reverberating across all links of the industrial chain.

Looking ahead to the optical module industry's trajectory, Guosheng Securities noted that the two leading manufacturers, Zhongji Innolight and Eoptolink Technology, have a combined potential deliverable module volume exceeding 28 million units. This ample order backlog provides solid material security for sustained shipments through the second half of this year and into next year, further validating the delivery certainty of leading companies amid the industry's high prosperity. The brokerage recommends continued attention to computing power chain enterprises, particularly leaders in the optical module sector.

Additionally, AI applications are expected to emerge as the second half of the AI narrative. Recently, the Ministry of Industry and Information Technology issued the nation's first specialized national policy for "AI application service providers," explicitly positioning these entities to focus on full-process intelligent solution services. Industry observers believe that as model capabilities become more widespread, competition in the AI sector will shift from technology to scenario-based and user-focused value creation. The media sector, leveraging its intellectual property and distribution channel advantages, is poised to benefit from AI's migration toward application deployment, entering a profit realization phase transitioning from product validation to scaled monetization.

For investors seeking to capture both the high-"optical" theme and AI application opportunities, attention is directed toward the ChiNext AI ETF Huabao (159363) and its off-exchange feeder funds (Class A: 023407, Class C: 023408). The fund emphasizes allocation to optical module CPO leaders while maintaining exposure to AI applications. The benchmark index features a combined allocation exceeding 35% to Zhongji Innolight, Eoptolink Technology, and TFC Communication, positioning it as a core vehicle for AI computing power exposure. As of August 31, 2026, according to Guozheng Index data, the top three constituent stocks of the ChiNext AI Index are Eoptolink Technology (12.61% weight), Zhongji Innolight (11.99% weight), and TFC Communication (10.25% weight).

Market participants are reminded that recent volatility may be elevated, and short-term fluctuations do not predict future performance. Investors are advised to make rational decisions based on their own capital positions and risk tolerance, with careful attention to position sizing and risk management. For the ETF, subscription and redemption agents may charge commissions at a rate not exceeding 0.5%. On-exchange trading fees are subject to actual securities company charges, with no sales service fee applicable. For the feeder fund Class C, no subscription fee is charged, while redemption fees are 1.5% within 7 days and 0% after 7 days (inclusive), with a 0.3% sales service fee. For Class A, subscription fees are 1% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and 1,000 yuan per transaction for amounts of 2 million yuan or above; redemption fees mirror Class C terms, with no sales service fee. According to the fund manager's assessment, the ChiNext AI ETF Huabao carries a risk rating of R4 (medium-to-high risk), suitable for aggressive (C4) and above investors; suitability matching opinions shall be subject to sales institution confirmation.

Risk disclosure: The ChiNext AI ETF Huabao passively tracks the ChiNext Artificial Intelligence Index, with a base date of December 28, 2018, and a publication date of July 11, 2024. The index's annual returns for 2021-2025 were 17.57%, -34.52%, 47.83%, 38.44%, and 106.35% respectively, with corresponding annualized volatility of 23.73%, 27.34%, 38.02%, 45.42%, and 41.1%. The index's constituent stocks are adjusted periodically according to its compilation rules, and backtested historical performance does not indicate future index returns. The index constituents displayed herein are for illustration purposes only, and individual stock descriptions do not constitute investment advice in any form, nor do they represent the holdings or trading activities of any fund under the manager's management. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, or any form of expression) is solely for reference, and investors bear full responsibility for their independent investment decisions. Furthermore, any views, analyses, or forecasts within this article do not constitute investment advice to readers in any form, and no liability is assumed for direct or indirect losses arising from the use of this content. Fund investment carries risks; past fund performance does not represent future results, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Investors should proceed with caution.