The ChiNext Index, representing technology growth stocks, has recently reached new highs. The surge in this round is driven by the AI industry, and it has been proven that ChiNext AI-related ETFs exhibit strong resilience. It is worth noting that the ChiNext Index is still some distance from its historical high in 2015. Fund managers are generally optimistic about the AI narrative logic in their Q1 reports, and it remains to be seen whether this will help the index continue to rise.
On April 16, the A-share market welcomed a rebound, with all three major stock indices closing higher. Among them, the ChiNext Index performed particularly well, surging 3.17% to close at 3626.27 points, reaching a new high since June 2015 during intraday trading.
The rise of the ChiNext Index in this round is mainly driven by the battery and AI (artificial intelligence) sectors. From the performance of ETFs (exchange-traded funds) in the market, the AI industry chain remains one of the most focused directions, with 8 ChiNext artificial intelligence ETFs rising over 4.8%, leading the entire market of ETFs.
Some respondents indicated that the dynamic price-to-earnings ratio of the ChiNext Index still has significant upward space compared to the peak in 2021, and AI-related sectors are one of the strong driving forces behind the rise of the ChiNext Index.
Index Hits New Highs
In recent trading days, the ChiNext Index has shown strong performance, continuously reaching new highs. On April 15, the index broke through the high of 3576 points set on July 22, 2021; subsequently, on April 16, it reached a new high of 3629.42 points during intraday trading, the highest point since June 18, 2015. On that day, the ChiNext Index closed at 3626.27 points.
With the significant rise of the index, technology growth stocks performed the strongest. According to Wind data, popular concept indices such as lithium mining and computing power leasing led the gains that day; in terms of sectors, the telecommunications sector rose 3.55%, leading all sectors. The telecommunications sector significantly benefited from the development of the AI industry chain, with several optical module concept stocks soaring, including Xinyi Technology rising 8.15% and Tianfu Communication rising 7.53%.
In terms of ETFs, due to the high proportion of telecommunications stocks, the overall performance of ChiNext artificial intelligence ETFs was strong. Data shows that as of the market close that day, the 8 ChiNext artificial intelligence ETFs had gains that &#34;dominated&#34; the entire market of ETFs, all rising over 4.8%; in addition, several cloud computing and ChiNext-related ETFs rose over 4% that day.
<img src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O4Vux4cHS5DixOIBgmMXQr8IYfBMnIIfSJn5VRFk4yBLoAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O4Vux4cHS5DixOIBgmMXQr8IYfBMnIIfSJn5VRFk4yBLoAA/641"/> Data source: Wind
Driven by the significant rise of the ChiNext Index, the ChiNext artificial intelligence index also reached a new high, closing at 7455.07 points. The strong performance of the AI sector has brought considerable returns to related ETFs. As of April 16, this year, except for oil and gas and power grid theme ETFs, the highest gain among stock-type ETFs belongs to the ChiNext artificial intelligence ETFs, with a maximum gain of 26.01% this year, and several of these products have gains exceeding 25%
AI Industry Gains Attention
The strong performance of the ChiNext board has attracted market attention to high-growth stocks. Several fund managers have expressed their optimism about the AI industry in the latest disclosed first-quarter fund reports.
&#34;This fund maintained a high position in the first quarter, firmly focusing on the core layout of the AI industry chain,&#34; said Du Houliang, manager of the China Europe Hong Kong Stock Connect Technology Fund, in the quarterly report. He indicated that they will continue to focus on large technology and the entire AI industry chain, deeply exploring investment opportunities in high-prosperity sub-sectors. Du Houliang expects that the proportion of AI in fiber optic demand will increase from over 10% in 2026 to 50% by 2030, highlighting the long-term growth certainty of the sector.
Cai Ruifan, manager of the Ping An Semiconductor Leading Selection Fund, stated in the quarterly report that the current investment core layout direction mainly focuses on the semiconductor equipment and materials chain. Cai Ruifan believes that from a global macro perspective, the global semiconductor market will reach a historical high by 2025, and looking ahead, AI will be the core engine of growth in the semiconductor industry. Therefore, he is optimistic about the growth opportunities in the semiconductor equipment and materials chain under the trend of the AI industry.
Regarding the strong rise of the ChiNext index in this round, industry insiders believe that the AI industry has played a significant boosting role.
Han Wei, managing director of Taishi Investment, told reporters from the International Financial News that with the accelerated implementation of the national &#34;Artificial Intelligence +&#34; policy and the accelerated commercialization of large models, the weight companies in the fields of artificial intelligence, computing power, chips, and robotics in the ChiNext board have risen strongly, effectively driving the ChiNext index to reach new highs.
Sui Dong, a wealth researcher at Paipai.com, also pointed out that the AI industry chain is the core driving force behind this round of increases, with sectors such as new energy, AI computing power, optical communication, storage, and communication jointly pushing up the ChiNext index.
Although the ChiNext index has reached a new high, interviewees believe there is still room for further increases. Sui Dong stated that the current dynamic price-to-earnings ratio level of the ChiNext index still has considerable space compared to the peak in 2021, and AI capital expenditure is still in an acceleration phase.
Sui Dong believes that computing power leasing has entered the &#34;Token era,&#34; and the shortage of high-end computing power is unlikely to ease in the short term. However, April is usually a time when funds prefer to return to fundamental performance, and if the financial reports of AI industry chain companies fall short of expectations, high-valuation sectors will face adjustment pressure. In addition, although the recent capital market intends to downplay the impact of the US-Iran geopolitical conflict, uncertainties still exist in the future.
Han Wei also reminded that given the significant volatility of the ChiNext board, ordinary investors should be highly vigilant about adjustment risks and need to patiently layout with long-term funds to overcome market sentiment fluctuations to achieve ideal returns.
&#34;If investors do not yet hold relevant ETFs, they may consider gradually participating in a relatively cautious manner or continue to observe; if they already hold, in the context of recent active market performance, they may consider maintaining attention while paying attention to reasonable risk management of their positions,&#34; Sui Dong stated.
Reporter: Xia Yuechao
Text Editor: Chen Si

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Recently, the ChiNext Index has reached new highs driven by the AI industry, with 8 artificial intelligence ETFs rising over 4.8%. On April 16, the ChiNext Index closed at 3626.27 points, marking a new high since June 2015, primarily driven by the battery and AI sectors. Fund managers are optimistic about the AI narrative logic, believing it will help the index continue to rise. Technology growth stocks have performed strongly, with the communication sector up 3.55%, and several related ETFs performing excellently

8 ETFs rose over 4.8%! How long can the AI market continue to thrive?