On August 26, the Hong Kong tech hardware sector continued its upward momentum. Among the top ten heavyweight constituents of the index tracked by the Hong Kong Stock Connect Information Technology ETF Hua Bao (159131), which focuses on Hong Kong tech hardware, HUA HONG GRACE surged over 6% to lead gains, while XIAOMI-W, SMIC, and SUNNY OPTICAL all advanced more than 2% in tandem.

On the policy front, on August 26, the Ministry of Industry and Information Technology set the tone for accelerating the development of emerging pillar industries such as integrated circuits, aerospace, biomedicine, low-altitude economy, new energy storage, and intelligent robotics. The ministry also pushed for future industries including quantum technology, bio-manufacturing, hydrogen energy, nuclear fusion, brain-computer interfaces, embodied intelligence, and sixth-generation mobile communications (6G) to become new economic growth drivers. During the "15th Five-Year Plan" period, the "AI + Manufacturing" initiative will be implemented across four dimensions—supply, application, ecosystem, and security—with a focus on tackling cutting-edge technologies such as high-end training chips, brain-inspired intelligence, and world models.

Overseas, OpenAI officially unveiled its first self-developed chip, "Jalapeño," which the company claims surpasses NVIDIA's GB300 in public benchmark tests, taking the lead in both AI workload processing per unit of power and response speed. In addition, Musk recently stated on social media that SpaceX's first batch of AI satellites equipped with NVIDIA chips will launch in the fourth quarter of next year, with large-scale deployment targeted for 2028. It is also worth noting that NVIDIA previously announced that its Groq3 LPX processor, designed for interactive AI inference, has entered full production.

Looking ahead to the third quarter, Everbright Securities suggests that investors may shift from short-term speculative trading to a left-side industry allocation perspective, recommending a dumbbell-style strategy of "dividend defense as a base, resource products as a hedge, and tech growth as an offensive play." On the offensive front, semiconductors and computing hardware are among the four main industry lines, with their long-term industrial trends remaining intact. The commercialization of AI is spreading from "computing power expansion" to "cloud services and industry application monetization," and the long-term demand logic for semiconductor equipment, AI infrastructure, and hardware devices remains solid.

This ETF offers exposure to scarce "pure-blood" Hong Kong tech hardware with T+0 trading support. The Hong Kong Stock Connect Information Technology ETF Hua Bao (159131) tracks the Hong Kong Stock Connect Information Technology Composite Index, which is composed of approximately "80% hardware + 20% software," heavily weighted toward Hong Kong's "semiconductors, electronics, and computer software" sectors, covering 67 Hong Kong-listed tech hardware companies. These include the "twin wafer foundry giants" SMIC and HUA HONG GRACE, "domestic AI PC leader" Lenovo Group, and the "twin domestic large-model leaders" Zhipu and MiniMax. Notably, the index constituents exclude large-cap internet companies such as Alibaba, Tencent, and Meituan, making it easier to capture the Hong Kong AI tech hardware trend.

For investors without a securities account, the off-market feeder fund (026755) offers a one-stop way to gain exposure to Hong Kong tech hardware. Recent market volatility may be significant, and short-term gains or losses do not predict future performance. Fund investments may incur losses. Investors are advised to make rational investment decisions based on their own capital conditions and risk tolerance, with close attention to position and risk management.

【Data Sources】China Securities Index Company, Shanghai and Shenzhen Stock Exchanges. 【Reference Institutional Views】Everbright Securities, "Hong Kong and US Stock Market Outlook Update," August 25. 【ETF Fee Disclosure】When subscribing or redeeming fund shares, the subscription/redemption agency may charge a commission of up to 0.5%. On-exchange trading fees are subject to the actual charges of the securities company, with no sales service fee. For the Hua Bao CSI Hong Kong Stock Connect Information Technology ETF feeder fund, subscription fees are 0.30% for amounts below 1 million yuan, 0.20% for 1 million (inclusive) to 2 million yuan, and 1,000 yuan per transaction for 2 million yuan (inclusive) and above. Redemption fees for individual investors are 1.50% within 7 days and 0.00% for 7 days (inclusive) and above. For institutional investors, redemption fees are 1.50% within 7 days, 1.00% for 7 days (inclusive) to 30 days, 0.50% for 30 days (inclusive) to 180 days, and 0.00% for 180 days (inclusive) and above; no sales service fee is charged. 【Stock Notes】Index constituents shown here are for illustrative purposes only. Stock descriptions do not constitute investment advice in any form and do not represent the holdings or trading activities of any fund under the manager. As of August 17, 2026, the index constituents mentioned and their weights are as follows: Lenovo Group 16.625%, SMIC 15.178%, Xiaomi-W 13.851%, Hua Hong Grace 7.598%, Sunny Optical 3.125%. 【Risk Disclosure】The Hong Kong Stock Connect Information Technology ETF Hua Bao passively tracks the CSI Hong Kong Stock Connect Information Technology Composite Index. The index base date is November 14, 2014, and it was published on June 23, 2017. The index constituent composition is adjusted in accordance with the index compilation rules. Historical backtest performance does not indicate future index performance. According to the fund manager's assessment, the risk rating of the Hong Kong Stock Connect Information Technology ETF Hua Bao is R4—medium-to-high risk, suitable for aggressive (C4) and above investors. The suitability matching opinion is subject to the sales institution. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only. Investors are solely responsible for their own independent investment decisions. Furthermore, any views, analyses, or forecasts in this article do not constitute investment advice of any form to readers, and no liability is assumed for any direct or indirect losses arising from the use of the content herein. Fund investment involves risks. Past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Investors should invest with caution.