The long-term trend led by AI remains unchanged, and short-term disturbances present opportunities for allocation. The Pudong Development Bank Ansheng Sci-Tech Innovation Board Chip Design ETF (589250) was officially listed on April 1.

In recent times, the ongoing conflict in the Gulf has continued to disrupt global markets. Oil prices have risen sharply compared with before the war, casting a shadow over the global economy. In capital markets, demand for safe-haven assets has increased, the technology sector has come under pressure, and all sub-sectors in the AI tracks that saw relatively large gains earlier have pulled back to varying degrees.

However, most in the market believe that the long-term trend of AI leading the technology and industrial revolution has already taken shape. The current fighting will bring short-term disruptions, but from a long-term perspective, this is also a new opportunity to allocate to technology sectors.

Song Shiyi, a fund manager in the Indexing and Quantitative Investing Department at Pramerica (Pudong/浦银安盛) Fund, believes that after the recent benefits from the AI-driven Sci-Tech Innovation Chip Design Index, there has been a significant adjustment recently. This falls under short-term market volatility and has not touched the core logic of the industry fundamentals. She emphasized that the enormous demand for AI computing power will continue to drive shipments of core hardware such as chips. Meanwhile, China also has strategic requirements for independent and controllable technology. Under the double tailwinds, the domestic semiconductor industry, including chip design, is expected to enter a golden period of robust development.

Today, the Pramerica (Pudong/浦银安盛) Sci-Tech Innovation Board Chip Design ETF managed by Song Shiyi (trading abbreviation: 科创板芯片设计ETF浦银; trading code: 589250) was officially listed on the Shanghai Stock Exchange. As a thematic index product that is even more focused on the chip design sector, it will provide investors with a convenient way to continuously share the dividend from China’s domestic chip design industry.

According to data, the AI-driven chip prosperity cycle this time will last for several years. The global GPU market size is expected to surge from USD 77.39 billion in 2024 to USD 472.45 billion in 2030, with a CAGR as high as 35.19%. At the same time, China’s domestic substitution process continues to accelerate. In the first half of 2025, the localization rate of AI chips reached 35%. The dual engines formed by the explosive growth of the AI industry and the deepening of domestic substitution bring China’s chip industry a historic structural opportunity. (Data source: IDC, Research Institute of CITIC Securities in Central Plains, Verified Market Research, as of 2025.12.31)

Within the vast chip industry chain, the design segment is the process of translating system, logic, and performance design requirements into specific physical layouts. It is regarded as the key segment with the highest level of technical intensity and the most active innovation. Compared with the heavy-asset investment of wafer manufacturing, chip design companies have lower capital expenditures and higher ROE. Successful designs can form patent pools, IP licensing, and software ecosystems, building a long-term moat.

The Pramerica (Pudong/浦银安盛) Sci-Tech Innovation Board Chip Design ETF tracks the SSE Sci-Tech Innovation Board Chip Design Thematic Index (950162). The index excludes stocks from the main board and the ChiNext board, and only includes chip design concept targets in the Sci-Tech Innovation Board. It avoids segments such as semiconductor materials and equipment, manufacturing, and assembly/test, anchoring on chip design—the most innovation-driven sub-sector. The weight of digital chip design is as high as 76.3%, which is highly aligned with the demands of the AI computing power era. The sum of weights of the top ten constituent stocks in the index reaches 57.15%, including multiple domestic industry leaders across the computing-power supply chain, with prominent attributes as hard technology. (Data source: Wind, website of the China Securities Index Company, as of 2025.12.31)

Looking back at the index’s market performance, since its base date of December 31, 2019, it has risen 86.04%, significantly outperforming the Sci-Tech Innovation Board broad-based index. Its annualized Sharpe ratio is 1.03, and its risk-adjusted return performance has been relatively excellent. In terms of the performance of its constituent stocks, in the third quarter of 2025, total operating revenue was RMB 90.81B, up 34.75% year over year; attributable net profit was RMB 9.44B, up 186.68% year over year. Profitability has continued to improve, and growth momentum remains strong. (Data source: Wind, as of 2025.12.31)

As the fund manager of the Pramerica (Pudong/浦银安盛) Sci-Tech Innovation Board Chip Design ETF, Song Shiyi holds a bachelor’s degree in Finance from Shanghai Jiao Tong University and a master’s degree in Finance from Renmin University of China. She has 12 years of experience in securities practice and 2 years of investment experience. She was awarded the 2020 Top Ten ETF Industry Analyst by the Shanghai Stock Exchange.

In recent years, Pramerica (Pudong/浦银安盛) Fund has continuously increased efforts to transform its three major strategic businesses—“Indexing House,” “Global Sci-Tech Innovation House,” and “Fixed Income House.” It has been integrated into the investment boom in index strategies and has stepped up investment in technology. The Pramerica (Pudong/浦银安盛) Sci-Tech Innovation Board Chip Design ETF launched this time can help investors allocate core assets in China’s chip design industry chain with one click, and better capture investment opportunities in the AI era.

Risk Warning: Funds involve risk; invest with caution. The industries mentioned in this article are provided only as examples and do not constitute an investment recommendation. The risk level of the Pramerica (Pudong/浦银安盛) SSE Sci-Tech Innovation Board Chip Design Thematic Exchange-Traded Open-Ended Index Securities Investment Fund is R4—medium-high risk. When applying for subscription through distribution institutions, the risk rating rules of the distribution institutions shall apply. This material is owned by our company. Without written permission, no institution or individual may make any deletion or modification of the content described herein that is contrary to the original intent. The fund manager undertakes to manage fund assets diligently and responsibly in accordance with the principles of integrity and rigor, but does not guarantee that the fund will definitely make profits, nor does it guarantee any minimum return. Investors need to understand that there may be a situation in which principal losses occur from investing in the fund. The fund’s past performance does not indicate its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the performance of this fund. China’s fund operation period is relatively short, so it cannot reflect all stages of market development. Before investing in this fund, investors are required to read carefully the legal documents such as the “Fund Contract” and the “Prospectus.” If you wish to buy this fund, please pay attention to relevant regulations on investor suitability management, conduct risk assessments in advance, and purchase fund products with risk levels that match your own risk tolerance. This product is issued and managed by Pramerica (Pudong/浦银安盛) Fund. Distribution institutions do not assume responsibility for investment, redemption, or risk management of the product.

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