Hardware computing stocks maintained their strong momentum on August 13, with the Huabao Shanghai Sci-Tech Innovation Board Chip Trading Open-Ended Index Securities Investment Fund (589190), which features nearly half of its holdings in storage chips, surging 2.86% in intraday trading, eyeing a consecutive gain. Yuanjie Technology led the charge with an 8% gain, while Hua Hong Grace Semiconductor Limited (688347) jumped over 7%. Shenke Communications-U and Pram Corporation both rose over 6%, with Lianyun Technology, Cambricon Technologies, Yandong Microelectronics, and Semiconductor Manufacturing International Corporation (688981) also posting strong gains.

Overnight, US-listed memory chip stocks performed well, pushing the Philadelphia Semiconductor Index up over 2%. On Tuesday, South Korea's two memory giants rallied sharply, with Samsung Electronics rising over 5% intraday and SK Hynix gaining over 7%. According to a South Korean media report, Singapore's state-owned investment firm Temasek is planning to invest in both Samsung Electronics and SK Hynix. Additionally, the shareholder return plans of these two memory behemoths are drawing significant market attention. Reports suggest that Samsung Electronics and SK Hynix may announce new shareholder return schemes as early as the end of August, with the combined return potentially exceeding 200 trillion Korean won (approximately RMB 952 billion), setting a new record.

Currently, the memory chip price hike cycle continues. Data from China Flash Market shows that as original manufacturers further raise prices in the third quarter, server DDR5 prices have increased by 15% to 23% this month. TrendForce previously indicated that the server DRAM market remains in a supply shortage, and memory suppliers are likely to continue raising quotes for the remainder of the third quarter. With North America's four major cloud providers increasing capital expenditures and leading large model companies accelerating commercialization, the demand for AI computing power is expected to maintain a high-growth trajectory.

According to China Merchants Securities, against the backdrop of rapid AI development and overseas technology restrictions, the semiconductor chip industry is benefiting from both AI capital expenditure expansion and ongoing domestic policy support. The industry's supply chain sentiment is improving, and sector revenue and profits are gradually entering a phase of realization. For investors looking to position for a "super cycle" in the chip industry, the Huabao Shanghai Sci-Tech Innovation Board Chip Trading Open-Ended Index Securities Investment Fund (589190) and its linked funds (Class A: 021224, Class C: 021225) track the STAR Chip Index. This index offers a balanced allocation across the chip industry chain, with over 90% weight in core areas like integrated circuits and semiconductor equipment, providing a high-tech focus and strong offensive characteristics.

Public data shows that the Huabao Shanghai Sci-Tech Innovation Board Chip Trading Open-Ended Index Securities Investment Fund (589190) has a management fee of 0.3% and a custody fee of 0.08%, resulting in a total expense ratio of 0.38%, making it one of the lower-cost ETFs tracking the same underlying index. The storage chip content refers to the combined weight of the fund's underlying index components that are also part of the Memory Chip Index (980138.CNI). As of August 11, this figure was 49.95%.

Risk Disclosure: The Huabao Shanghai Sci-Tech Innovation Board Chip Trading Open-Ended Index Securities Investment Fund (589190) and its linked funds passively track the STAR Chip Index, with a base date of December 31, 2019, and a launch date of June 13, 2022. The STAR Chip Index has shown annual returns of 6.87% in 2021, -33.69% in 2022, 7.26% in 2023, 34.52% in 2024, and 61.33% in 2025. Its volatility over the same five complete years was 34.32%, 36.60%, 28.64%, 44.67%, and 34.34%, respectively. Index constituent weights are adjusted periodically according to the index compilation rules, and historical back-tested performance is not indicative of future index performance. This product is issued and managed by Huabao Fund. Sales agencies are not responsible for the product's investment, payment, or risk management. Investors should carefully read the fund's legal documents, including the Fund Contract, Prospectus, and Fund Product Information Summary, to understand the fund's risk-return characteristics and select a product that matches their risk tolerance. The fund's risk rating, as assessed by the fund manager, is R4 (medium-high risk), suitable for investors with a suitability rating of C4 or above. Past performance does not guarantee future results. Investing involves risk, and caution is advised.