On the afternoon of October 9, the AI sector staged a rebound and recovery, with the high "light" ChiNext AI ETF Huabao (159363) underlying index pulling up from -5% to turn positive, now up more than 1%, as capital focused on sector allocation opportunities.

AI applications are rising, with Col Global Co., Ltd. (300364) and Mango Excellent Media Co., Ltd. (300413) both hitting the daily limit up, Huace Film & TV surging over 10%, and Epoint and BlueFocus both gaining more than 6%. Computing power hardware is warming up, with Linktel Technologies up over 13%, while Zhongji Innolight and Eoptolink saw their declines narrow.

The cost of large model inference is accelerating its decline, and AI application-side penetration is expected to speed up, with inference computing power demand continuing to be released. Agent business is another AI application sub-sector expected to consume massive amounts of TOKEN in the future, following AI programming and AI film and television, and based on METAMUSE's user download data, domestic Agent demand is also expected to be very strong in the future. Agents are expected to become an important driver for the next phase of AI application commercialization and inference computing power demand growth.

Looking ahead to the technology sector's outlook, CITIC Securities' research report stated that the "CapEx→ROIC→EPS" transmission in the computing power industry has been initially verified, and capital expenditure growth from 2027 to 2028 will support upward earnings in the computing power chain, providing solid support for the subsequent technology market. At the same time, accelerated RSI progress, major version iterations of domestic models, and Meta Muse validating C-end Agent demand are pushing market focus from infrastructure investment to model capabilities, personal intelligent agents, and application monetization. The next window for the technology market to launch is likely in the fourth quarter of 2026, but still requires verification of three conditions: a marginal reversal in rate hike expectations, new narratives coalescing consensus, and capital flows completing rebalancing.

To position in optical module leaders plus AI applications, it is recommended to follow ChiNext AI ETF Huabao (159363) and its off-exchange feeder funds (Class A 023407, Class C 023408), with key allocation in optical module CPO leaders while also covering AI applications. The underlying index's "Zhongji Innolight + Eoptolink + T&S Communications" weighting exceeds 35%, making it a core standard-bearer for AI computing power.

Data source: Shenzhen and Shanghai Stock Exchanges, Wind, etc. Note: As of September 30, 2026, according to the China Securities Index, the top three constituents of the ChiNext AI Index are Eoptolink (weight 12.98%), Zhongji Innolight (weight 12.09%), and T&S Communications (weight 10.08%). Reminder: Recent market volatility may be significant, and short-term gains or losses do not预示 future performance. Investors should invest rationally based on their own financial conditions and risk tolerance, and pay close attention to position and risk management.

ETF fee disclosure: When investors subscribe or redeem fund shares, the subscription and redemption agent may charge a commission of no more than 0.5%. On-exchange trading fees are subject to actual charges by securities companies, with no sales service fee. Feeder fund fee disclosure: Huabao ChiNext AI ETF Initiating Feeder C charges no subscription fee; redemption fee is 1.5% within 7 days, 0% from 7 days (inclusive) onward; sales service fee is 0.3%. Huabao ChiNext AI ETF Initiating Feeder A subscription fee is 1% for amounts under 1 million yuan, 0.6% for 1 million yuan (inclusive) to 2 million yuan, and 1,000 yuan per transaction for 2 million yuan (inclusive) and above; redemption fee is 1.5% within 7 days, 0% from 7 days (inclusive) onward; no sales service fee is charged.

According to the fund manager's assessment, the risk level of ChiNext AI ETF Huabao is R4 - medium-high risk, suitable for aggressive (C4) and above investors. Suitability matching opinions should be based on the sales institution's assessment.

Risk disclosure: ChiNext AI ETF Huabao passively tracks the ChiNext AI Index, whose base date is December 28, 2018, and publication date is July 11, 2024. The index's annual returns from 2021 to 2025 were: 17.57%, -34.52%, 47.83%, 38.44%, 106.35%, with corresponding annualized volatility of 23.73%, 27.34%, 38.02%, 45.42%, 41.1%. The index constituent composition is adjusted in a timely manner according to the index compilation rules, and its backtested historical performance does not predict future index performance. The index constituents mentioned in this article are for display purposes only, and individual stock descriptions do not constitute investment advice of any form, nor do they represent the holdings or trading activities of any fund under the manager. 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, and investors must be responsible for their own investment decisions. Additionally, any views, analyses, and forecasts in this article do not constitute investment advice of any form to readers, nor shall they bear any responsibility for direct or indirect losses caused by the use of this article's content. Fund investment involves risks, past performance of funds does not represent future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Fund investment requires caution. MACD golden cross signals have formed, and these stocks are performing well!