Today (September 8), the STAR Market AI ETF (589520), which focuses on domestic AI industry chains, fluctuated broadly around the breakeven level throughout the trading session. The intraday price once rose over 1%, closing up 0.34% to achieve a second consecutive daily gain, with a full-day amplitude reaching 2.41%.
Component stocks showed divergent performance. On the positive side, Piesat rose over 9%, Geovis gained more than 5%, and Orbbec surged over 4%, leading the gainers. Conversely, Cambricon fell over 5%, while Autel Intelligent Technology declined more than 4%, topping the losers.
On the news front, September 5 marked the official release of Alibaba's Tongyi Qianwen's largest model to date, Qwen3-Max-Preview, with parameters exceeding the trillion-level threshold. The model is now available on Alibaba's Bailian platform and offers free trial access to Tongyi Qianwen application and Qwen Chat users. Two key highlights deserve attention:
1) Significantly enhanced overall general capabilities: Substantial improvements in Chinese and English general text comprehension, complex instruction following, subjective open-ended tasks, multilingual abilities, and tool invocation capabilities;
2) Reduced model knowledge hallucinations: Through "knowledge hallucination" suppression technology, model output reliability has been significantly improved. In professional fields requiring precise information such as healthcare and legal sectors, this improvement substantially reduces the risk of misinformation dissemination, creating more favorable conditions for commercial model deployment.
Huaan Securities believes that Qwen3-Max-Preview, as the first trillion-parameter closed-source large model to date, helps propel Chinese large model technology into the first tier of global competition. Enhanced Chinese and multilingual capabilities, deep integration solutions for vertical industries, and more cost-effective commercialization paths strengthen the global competitiveness of Chinese AI enterprises.
Looking overseas, OpenAI is expected to generate nearly $10 billion in revenue through ChatGPT this year, with total revenue projected to reach $13 billion. Revenue projections for 2030 are approximately 15% higher than previous forecasts.
Tianfeng Securities notes that internet company financial reports have already validated that AI investments are generating substantial returns. The domestic and international AI resonance is expected to drive China's AI application ecosystem into a rapid iteration cycle, further reinforcing the trend of accelerated commercialization realization for Chinese AI.
Notably, on September 5, the STAR AI ETF (589520) announced completion of a fund share split at a 1:2 ratio. This means the on-exchange trading threshold for each lot of the ETF has decreased from approximately 120 yuan before the split to about 60 yuan after the split. The halved ETF unit net value significantly lowers the investment threshold, facilitating more investors' participation in capturing investment opportunities in the domestic AI industry chain.
**Beacon of Domestic Substitution, STAR Market Self-Reliance and Innovation**
From the current perspective, three major highlights of the STAR AI ETF (589520) and its feeder funds (Feeder A: 024560, Feeder C: 024561) merit attention:
1. Policy ignition, AI takeoff: Top-level documents have triggered explosive growth, with AI potentially becoming the leading sector throughout this market cycle. Edge-cloud integration represents the core trend in AI development, with component stocks being companies with the largest revenue or best positioning in subdivided segments, benefiting from accelerated AI adoption in edge-side chips/software.
2. Domestic substitution, autonomous control: Against the backdrop of technological friction, the importance of information security and industrial safety becomes prominent. As a core technology, achieving autonomous control in artificial intelligence is crucial. The target index focuses on domestic AI industry chains with strong domestic substitution characteristics.
3. 20% high elasticity, strong offensive capability: Compared to direct investment in STAR Market individual stocks, ETFs enable low-threshold deployment with 20% price limit restrictions, offering higher efficiency during market outbreaks. The top ten holdings account for over 70% of the weight, with semiconductors as the largest weighted industry comprising over half the allocation, demonstrating high concentration and strong offensive characteristics.
Note: As of the end of August 2025, the top ten holdings of the STAR AI Index account for 71.66% of the weight; according to SW Level 2 industry classification, semiconductors represent the largest weighted industry at 54.1%.
Risk Warning: The STAR AI ETF and its feeder funds passively track the SSE STAR Market AI Index, which has a base date of December 30, 2022, and was published on July 25, 2024. The index component stock composition is adjusted timely according to the index compilation rules, and its backtested historical performance does not predict future index performance. Individual stocks and index component stocks mentioned in this article are for display purposes only. Stock descriptions do not constitute investment advice in any form, nor do they represent holding information or trading activities of any fund under the management company. The fund management company assesses the risk level of the STAR AI ETF as R4-medium-high risk, suitable for aggressive (C4) and above investors. Please refer to sales institutions for appropriateness matching opinions. Any information appearing in this article (including but not limited to individual stocks, comments, predictions, charts, indicators, theories, any form of expression, etc.) is for reference only, and investors must take responsibility for any autonomous investment decisions. Furthermore, any views, analyses, and predictions in this article do not constitute investment advice in any form to readers, nor do 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 management company does not constitute a guarantee of fund performance. Fund investment requires caution.
MACD golden cross signal formed, these stocks show good upward momentum!