As the August 31st interim report disclosure deadline approaches, listed companies are intensively releasing their results. On the evening of the 26th, computing power giants including Cambricon, Innolight, and Inspur simultaneously released their first-half performance reports.

**Performance of the Four Giants**

**Cambricon** AI chip leader Cambricon: First-half revenue reached 2.881 billion yuan, up 4,347.8% year-over-year; adjusted net profit attributable to shareholders was 913 million yuan, achieving profitability for the first half-year for the first time, compared to a net loss of 609 million yuan in the same period last year.

**Suntak Technology** PCB leader Suntak Technology: In the first half, the company achieved operating revenue of 9.031 billion yuan, up 86% year-over-year; net profit attributable to shareholders was 2.143 billion yuan, up 366.89% year-over-year; basic earnings per share was 2.5 yuan, up 371.70% year-over-year.

**Innolight** CPO leader Innolight: First-half revenue was 14.789 billion yuan, up 36.95% year-over-year; net profit attributable to shareholders was 3.995 billion yuan, up 69.40% year-over-year.

**Inspur** Cloud computing leader Inspur: First-half operating revenue reached 80.192 billion yuan, up 90.05% year-over-year; net profit attributable to shareholders was 799 million yuan, up 34.87% year-over-year.

Beyond impressive revenue and net profit growth (enhanced profitability and increased earnings per share), these companies also showed remarkable performance in capital expenditure expansion (high growth potential) and gross margin improvement (cost reduction and efficiency enhancement capabilities). Their technological innovation and order delivery capabilities have also received praise from various institutions, which has largely alleviated investors' concerns about the extremely high price-to-earnings ratios in computing power-related sectors and further boosted market confidence in the computing power sector.

However, some individual stocks have risen too rapidly in the short term, and volatility is expected to increase in the future. Therefore, betting on individual stocks carries higher risks. Investors can pursue low-threshold, diversified allocation through industry thematic indices.

**Which ETFs Can Be Used for Investment?** Using screening tools, we can identify ETFs with higher concentrations of the aforementioned "computing power giants": STAR 50 ETF (588000.SH), STAR AI ETF (589010.SH), ChiNext AI ETF (159381.SZ), ChiNext Growth ETF (159967.SZ), Data ETF (516000.SH), and Cloud Computing 50 ETF (516630.SH), among others. The corresponding individual stock weightings are shown in the chart below.

Industry thematic ETFs closely track their underlying indices, with minimum investment of just over 100 yuan per lot. Investors can indirectly access these investments without opening STAR Market or ChiNext trading permissions, while avoiding stock selection difficulties and benefiting from lower fees (stamp tax exempt).

**Risk Disclosure** The above information is presented for objective data display only and does not constitute marketing material. Mentioned individual stocks are not recommendations and should not be used as investment basis. Past index performance does not represent future results and does not constitute a guarantee or promise of fund performance. The ETFs mentioned are not recommendations, and secondary market price fluctuations do not represent actual net asset value changes. Markets carry risks, and investment requires caution.

The aforementioned funds are rated R4 (medium-high risk), with specific risk ratings subject to those provided by fund managers and sales institutions. These equity funds carry higher expected risks and returns than hybrid funds, bond funds, and money market funds. As index funds, they may face risks including tracking error control not meeting agreed targets, index provider service discontinuation, and constituent stock suspension or default.

ETF-specific risks also include: risk of underlying index returns deviating from average stock market returns, underlying index volatility risk, etc.

**STAR Market Special Risk Warning**: Investment in STAR Market faces unique risks due to differences in investment targets, market mechanisms, and trading rules, including but not limited to higher stock price volatility, liquidity risks, and delisting risks. Investors should carefully read legal documents and assess whether they align with their risk tolerance. Fund managers do not guarantee profits or minimum returns.