Nvidia GTC Countdown, Shovel Sellers Make First Move! Xinyi Shengda Launches "Game-Changing" New Products, Huabao Fund Growth Enterprise Board AI ETF (159363) Attracts Capital!

On Friday, March 13, the IDC computing power leasing concept led the AI sector downward, with the Growth Enterprise Market (GEM) artificial intelligence remaining sluggish all day, marking three consecutive days of decline. Among them, HanDe Information dropped over 10%, while Oufe Data, Capital Online, Dongfang Guoxin, and Halo New Network all fell more than 7%. However, the leading optical module CPO company

remained active against the trend, with New Easymore surging 4% and Zhongji Xuchuang rising over 1%.

In popular ETFs, the GEM artificial intelligence ETF (159363), which heavily weights optical module leaders, closed down 1.84% intraday, marking three consecutive days of decline. It traded with a reduced volume of 462 million yuan, with funds rushing in to buy 5.2 million shares.

Company news highlights two major updates for optical module leader New Easymore: first, it launched the industry’s first full-featured 448G DSP optical module powered by Broadcom; second, it introduced the industry’s first 12.8T XPO module, a next-generation pluggable optical module designed to support AI data center architectures, covering vertical expansion, horizontal expansion, and metro interconnection applications.

Guosheng Securities pointed out that Broadcom, leveraging its advantages in networking, is becoming a partner for many supercomputing clients’ XPU collaborations. In an era dominated by CSPs’ capital expenditure, open decoupled architectures represented by ASIC/XPU and Ethernet will continue to thrive amid exploding AI inference demands. The CSP open camp will have a long-term contest with Nvidia, while companies like New Easymore in optical communications and network equipment will benefit from the growing interconnection needs of both sides.*

Looking ahead, Nvidia’s GTC conference, known as the “Spring Festival Gala of AI,” will kick off on March 16. As a global benchmark for AI computing power, CEO Jensen Huang’s keynote not only outlines technological directions but also acts as an AI market catalyst. Reviewing past conferences, from the launch of AI in 2023 to the explosive growth of optical modules, liquid cooling, and CPOs in 2024-2025, each technological iteration has created structural opportunities. Which sectors are likely to be ignited this time?

Guosheng Securities believes that this GTC is expected to showcase Nvidia’s Rubin and Feynman architecture GPU core technologies, along with disruptive upgrades in computing infrastructure such as CPO optical interconnects, 800V high-voltage power supplies, and liquid cooling. As the conference approaches, the hardware sector for computing power has already begun warming up. In the long term, the industry chain’s technological pathways and commercialization pace will become clearer, with continued focus on leading optical modules and other computing power leaders.*

Seize AI hot events and opportunities with a one-click deployment of the GEM artificial intelligence ETF (159363) and off-exchange links (Class A 023407, Class C 023408), which directly benefit from the explosive growth of AI technology commercialization. From the sector perspective, about 60% of the GEM AI ETF’s holdings are in computing power (optical modules and IDC leaders), and about 40% are in AI applications. This is not only about “computing power” but also truly represents “AI applications.”

Data sources: Shanghai and Shenzhen Stock Exchanges, etc.

ETF-related fee disclosures: When investors subscribe or redeem fund shares, the subscription or redemption agent may charge a commission of up to 0.5%. On-exchange trading fees are based on the actual charges by securities firms; no sales service fee is charged. For the connection funds: the GEM AI ETF launch-based connection C does not charge a subscription fee; redemption fee within 7 days is 1.5%, after 7 days (inclusive) is 0%; sales service fee is 0.3%. The GEM AI ETF launch-based connection A charges a subscription fee of 1% for amounts below 1 million yuan, 0.6% for 1-2 million yuan, and a flat 10,000 yuan for amounts above 2 million yuan; redemption fee within 7 days is 1.5%, after 7 days (inclusive) is 0%; no sales service fee is charged.

*Institutional reference sources: Guosheng Securities “GTC Conference Approaching, Computing Power Reheats,” “Broadcom Launches 400G DSP, New Easymore Officially Announces First Deployment, Highly Values Open Decoupled Computing Network Ecosystem”

Risk warning: The GEM artificial intelligence ETF Huabao Passive Tracking Index is based on the GEM AI Index, with a base date of December 28, 2018, and published on July 11, 2024. The annual gains and losses of the GEM AI Index from 2021 to 2025 are: 17.57%, -34.52%, 47.83%, 38.44%, 106.35%. The index components are adjusted periodically according to the index rules; past performance does not predict future results. The index components shown are for display only; individual stock descriptions are not investment advice and do not reflect holdings or trading activity of any fund managed by the manager. The risk level of this fund, as assessed by the fund manager, is R4—medium-high risk, suitable for active investors (C4) and above. Suitability matching opinions are subject to the sales institution. All information in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, or any form of statements) is for reference only. Investors are responsible for their own investment decisions. The views, analyses, and forecasts in this article do not constitute investment advice and do not hold the author or the fund manager responsible for any direct or indirect losses resulting from the use of this content. Fund investments carry risks; past performance does not guarantee future results. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Investors should exercise caution.