The first thing you look at each morning is your phone, work and daily life rely on large model assistants, and even your home robot vacuum has learned to navigate. Technology is no longer a distant concept; it is visibly reshaping our lives at an accelerating pace. In the capital markets, a technology revolution driven by artificial intelligence may be on the verge of a major breakout.
Recently, the CITIC-Prudential Technology Selective Hybrid Securities Investment Fund (Class A: 026728, Class C: 026729) was officially launched. This fund focuses on key technology themes such as AI, computing power, and robotics. It is to be managed by Sun Haozhong, an experienced "technology hunter" with 18 years in investment research and over 6 years in investment management. The fund aims to work with investors to capture opportunities from tangible industrial transformations occurring as the technological "singularity" approaches.
From speculative narratives to delivering tangible results, the technology sector may be entering a phase of materialization. Overseas AI giants are seeing soaring revenues, while domestic large model user bases are growing exponentially. For instance, OpenAI took two years to reach 400 million active users but only two months to grow from 400 million to 800 million. This surge is fueled by explosive growth in computing power demand. ByteDance is projected to process 50-60 trillion tokens daily by the end of 2025, more than double the mid-year figure. Domestic cloud providers are revising capital expenditures upwards, with Alibaba increasing from 70 billion to 150 billion and Tencent raising from 40 billion to around 100 billion.
More notably, China's AI infrastructure continues to strengthen. Data indicates China's intelligent computing capacity has reached 1,590 EFLOPS, with high-quality industry datasets rapidly emerging and domestic large models leading the global open-source ecosystem. According to relevant agency estimates, the number of AI enterprises in China is expected to exceed 6,000 by 2025, with the core industry scale projected to surpass 1.2 trillion yuan. The core logic of technology investment is shifting from being expectation-driven to being performance-driven.
The technology industry currently exhibits multi-threaded progress with breakthroughs at the foundational level, upgrades in hardware, and expansion in applications. Innovations continue in areas like humanoid robots, solid-state batteries, and AI applications. Where will AI's next "iPhone moment" emerge?
We can observe that at the foundational layer, core technologies such as artificial intelligence, large models, and computing chips are iterating continuously, with the value of computing power demand and data elements rising. In hardware, sectors like optical modules, AI PCBs, advanced materials, and solid-state batteries are showing strong growth momentum. In applications, scenarios such as "AI+healthcare," "AI+education," "AI+manufacturing," and "humanoid robots" are expanding steadily.
Technology investment is no longer confined to a single sector but presents structural opportunities with synergistic effects across the industrial chain. The CITIC-Prudential Technology Selective Hybrid Fund focuses on technology-related themes, covering next-generation information technology, high-end equipment, new materials, new energy, energy conservation, environmental protection, biopharmaceuticals, and digital creativity. It emphasizes profit drivers and dynamic allocation, aiming to select companies with growth potential across multiple technological waves.
The primary challenge in technology investment is identifying genuine growth while avoiding speculative trends amidst industrial waves. As the designated fund manager for the CITIC-Prudential Technology Selective Hybrid Fund, Sun Haozhong's approach is to return to commercial fundamentals. Sun has 18 years of experience in the securities industry and over 6 years in investment management, with deep expertise in technology manufacturing sectors like new energy, advanced manufacturing, and defense. The CITIC-Prudential Advanced Manufacturing Fund he manages has seen its net asset value rise nearly 70% since its inception in October 2023, significantly outperforming its benchmark and the CSI 300 Index.
His investment framework is clear and pragmatic, screening targets based on three dimensions: growth cycle, profitability, and industry structure. Regarding the growth cycle, he focuses on industry growth rates and trends. For profitability, he dynamically tracks corporate earnings capability and sustainable growth. In terms of structure, he assesses competitive landscapes, preferring stable or improving sectors while being cautious of deteriorating conditions. At the portfolio level, he maintains moderate industry diversification and selective stock-picking, aiming to enhance resilience through structural optimization.
Discussing future market prospects, Sun Haozhong indicated a focus on sub-sectors with sustained earnings growth potential that are not yet fully reflected in market expectations, seeking to position where the risk-reward ratio is more favorable. Whether in the lithium battery chain driven by energy storage or segments like overseas computing power, aviation, and certain power equipment, the core criteria consistently revolve around earnings quality and sustainable growth.
In his view, investment is not about chasing the hottest sectors but maintaining rational judgment amidst cycles and sentiment, adhering to the discipline of "buying low and selling high" to build long-term success rates. This approach may not capture all speculative trends but can contribute to a relatively smooth and sustainably rising net asset value curve.
Note: The CITIC-Prudential Technology Selective Hybrid Securities Investment Fund has designated fund manager Sun Haozhong. The fund manager's risk rating for this fund is R3.
The CITIC-Prudential Advanced Manufacturing Hybrid Securities Investment Fund was established on October 9, 2023. Its performance comparison benchmark is 70% CSI Intelligent Manufacturing Theme Index return + 20% ChinaBond Composite Wealth (Total Value) Index return + 10% Hang Seng Index return. Historical performance for Class A shares from 2024 to 2025 was 15.78% versus a benchmark of 18.66%, and 44.72% versus a benchmark of 31.06%. For Class C shares, performance was 15.05% versus 18.66%, and 43.86% versus 31.06%. The current fund manager is Sun Haozhong (since October 9, 2023). The fund manager's risk rating for this fund is R3.
Other funds managed by Sun Haozhong in the same category as the CITIC-Prudential Advanced Manufacturing Hybrid Fund include the CITIC-Prudential Cycle Rotation Hybrid Fund (LOF), the CITIC-Prudential Small and Mid-Cap Hybrid Fund, the CITIC-Prudential Emerging Industries Hybrid Fund, and the CITIC-Prudential Zhixing Flexible Allocation Hybrid Fund. Detailed performance data for these funds is available in their respective reports.
Risk Warning: This material is for reference only and does not constitute any investment advice, commitment, or legal document. Past fund performance is not indicative of future results. The performance of other funds does not guarantee this fund's future performance. Funds differ from financial instruments like bank savings that offer fixed income expectations. When you invest in a fund, you may share in the investment returns but also bear potential losses. The fund manager manages assets with integrity and diligence but does not guarantee fund profitability, minimum returns, or capital preservation. Fund investments involve various risks, including market risk, management risk, technical risk, and compliance risk. Large redemption risk is specific to open-end funds. Investment strategies, sector allocations, and targets may be adjusted within the fund contract's scope. Please refer to the fund contract, prospectus, and product key facts statement for details. Views expressed reflect current perspectives only. Fund risk ratings may vary between distributors and the fund manager; investors should assess risk suitability independently. Investments involve risks; caution is advised.