Strong demand for cloud computing, China Communication ETF Huaxia (515050) is consolidating, attracting over 100 million yuan in net inflows in the past 10 days.

On March 26, after two days of strong rebounds, the computing power sector experienced a slight pullback. Among the relevant ETFs, the largest communication ETF in the same index, Huaxia (515050), the lowest fee创业板人工智能ETF Huaxia (159381), and the cloud computing ETF Huaxia (516630) opened lower in the morning and fluctuated to gather strength. Tianfu Communication, Hengtong Optic-Electric, Xunwei Communication, Industrial Fulian, and Taicheng Light rose against the trend, while Dongfang Guoxin and Guanghuan Xinnet gave back some of yesterday’s gains, with Shen Zhou Information and Tuo Wei Information also declining. Funds are actively positioning in optical communication and computing power, in the past 10 days, the communication ETF Huaxia has accumulated 124 million yuan in capital.

On the news front, benefiting from the explosion in AI demand, Kingsoft Cloud delivered impressive results, with fourth-quarter revenue reaching a historic high of 2.761 billion yuan, a year-on-year increase of 23.7%, with growth accelerating compared to previous quarters; among them, public cloud revenue was 1.902 billion yuan, a significant increase of 34.9%, becoming the core engine of growth this season. In the fourth quarter, “smart computing cloud business billing revenue” reached 926 million yuan, with a year-on-year growth rate of 95%. Management stated that they expect strong demand for intelligent cloud computing to continue through 2026.

Analysts at Xiangcai Securities pointed out that since the beginning of 2026, the computing power leasing market has entered a price increase cycle. The non-linear growth of Token demand in the AI Agent era has disrupted the balance between supply and demand for computing power, directly leading to changes in procurement costs for upstream core hardware such as GPUs, enterprise-level storage, and CPUs. Under the dual pressures of rigid downstream demand and inflation in upstream hardware costs, the pricing logic of the cloud computing industry is fully shifting to premium monetization.

Computing power related ETFs:

The cloud computing ETF Huaxia (516630) focuses on domestic AI software and hardware computing power, with a combined weight of computer software + cloud services + computer equipment reaching as high as 83.7%, deep seek content exceeding 80%, and OpenClaw content nearing 70%. The comprehensive on-market fee is only 0.20%, the lowest among its peers. Off-market connections (Class A: 019868; Class C: 019869)

The communication ETF Huaxia (515050) deeply focuses on electronic (chips, PCBs, consumer electronics) + communication (optical modules, servers, optical fiber cables) computing power hardware. The top 10 holdings are: Xinyi Sheng, Zhongji Xuchuang, Luxshare Precision, Industrial Fulian, Zhaoyi Innovation, Dongshan Precision, Tianfu Communication, Huagong Technology, Hudian Co., and ZTE Corporation. Off-market connections (Class A: 008086; Class C: 008087)

The创业板人工智能ETF Huaxia (159381): tracks an index with half of the weight concentrated in the optical module CPO sector, and the other half covering the AI software application field, forming a balanced layout of “hardware + applications.” The top 10 weighted stocks are Xinyi Sheng (15.07%), Zhongji Xuchuang (14.87%), Tianfu Communication (9.85%), BlueFocus, Runze Technology, Xiechuang Data, Beijing Junzheng, Kunlun Wanwei, Wangsu Technology, and Tonghuashun. Currently, the fund size is nearly 2 billion yuan, with a comprehensive on-market fee of only 0.20%, the lowest in its category, suitable for investors seeking high elasticity and optimistic about AI + mainline. Off-market connections (Class A: 025505; Class C: 025506)

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