Musk Makes Another Big Move! Will Chips + Solar Energy Resonate? Solar Leading Stocks Actively Rise Against Market Trend, Huabao Fund Dual Innovation Leader ETF (588330) Shows Frequent Premium

On the evening of March 21st Eastern Time, SpaceX and Tesla jointly announced the “Terafab” project (Elon Musk’s super chip factory initiative), aiming to produce over 1 terawatt of computing power annually. The plan is to adopt 2nm process technology, integrating logic chips, memory chips, and advanced packaging, with an annual output target of approximately 10 to 20 billion chips. Just last Friday, news that Tesla plans to purchase $2.9 billion worth of photovoltaic equipment in China sparked a photovoltaic concept, meaning, after a wave of “buying up” Chinese PV equipment, the world’s largest chip factory project is on the horizon.

Everbright Securities pointed out that, coupled with recent geopolitical events significantly impacting the global oil supply chain, photovoltaic and other new energy sources will play a key role in energy supply, and the photovoltaic industry is expected to usher in development opportunities. Dongguan Securities stated that a dual drive of chips + space and photovoltaics reinforces confidence in “PV equipment order fulfillment, domestic substitution of semiconductor equipment, and space computing power PV” as three core themes.

Kaiyuan Securities believes that under the “14th Five-Year Plan,” technological security remains the most important theme, promoting a significant increase in technological self-reliance and self-improvement, with key industries forming a “8466” development pattern. New productive forces are expected to take over the “pillar industry” status of real estate, forming a rapid development trend based on energy (new energy + controlled nuclear fusion) and core industries running in parallel (AI + electronics semiconductors, aerospace + low-altitude economy, embodied intelligence, biomedicine, etc.).

Industry insiders point out that focusing on “major innovation” and technological growth remains the main theme throughout the year. Looking ahead, it is recommended to pay close attention to four major directions: first, the links with the highest value; second, those with high barriers, “selling shovels” attributes, and better investment success rates; third, those driven by new technologies and with significant changes; fourth, those led by leading companies shaping industry trends. The movements of leading companies often serve as important indicators of industry trends, which is why global capital markets are highly focused on NVIDIA’s annual GTC 2026 developer conference.

Today (March 23), the 100% allocation to the new productive forces theme—Chuangtou Leading ETF (588330) experienced a market correction, with the on-market price down 1.79%. Notably, this ETF frequently trades at a premium, indicating stronger buying momentum!

In terms of constituent stocks, leading PV equipment companies are active against the trend, with JinkoSolar and Jing Sheng Electric rising over 1%, and Atres and Daqo Energy also gaining. Additionally, semiconductor leader TuoJing Technology rose over 2%, and lithium battery leader EVE Energy also increased more than 2%. On the other hand, PCB leader Shenghong Technology and storage chip leader Jiangbolong fell over 4%, dragging down the index.

【Fearless rotation, one-click package of China’s core technology】

The broad-based hard tech ETF—Chuangtou Leading ETF (588330) and its off-market connection fund (A: 013317 / C: 013318)—selects the top 50 large-cap strategic emerging industry listed companies from the STAR Market and ChiNext as index samples, covering hot themes like optical modules, semiconductors, PV equipment. Meanwhile, this ETF is a margin trading and interconnection target, serving as an efficient tool for one-click deployment of new productive forces.

Notably, the Chuangtou Leading ETF (588330)'s underlying index was awarded the title of “2025 Wide-Base Growth Leader”, with a cumulative increase of 60.86% in 2025, outperforming major broad indices such as the ChiNext 50 (57.45%), ChiNext Index (49.57%), STAR Market Innovation Index (46.30%), and STAR 50 (35.92%).

Institutional reference sources: ① Tianfeng Securities, March 19, “‘Computing and Electricity’ included in government work report, new infrastructure projects gain attention”; ② CITIC Construction Investment, December 23, 2025, “High-speed optical module demand continues to grow, scale-up may open new market space”; ③ Kaiyuan Securities, March 2, “2026 Spring Macro Outlook: Improving quality and efficiency, technological breakthroughs”.

ETF fee details: The Chuangtou Leading ETF does not charge sales service fees. Subscription and redemption commissions are capped at 0.5%, covering related fees from stock exchanges, registration agencies, etc. On-market trading costs are based on the actual charges of securities firms.

Connection fund fee details: Huabao CSI Tech Innovation and Entrepreneurship 50 ETF Initiation Connection Fund (A class) has a subscription fee of 1,000 yuan per transaction for subscriptions of 2 million yuan or more, 0.6% for 1-2 million yuan, 1% below 1 million; redemption fee within 7 days is 1.5%, between 7-30 days is 0.1%, over 30 days is 0%, with no sales service fee. Huabao CSI Tech Innovation and Entrepreneurship 50 ETF Initiation Connection Fund (C class) has no subscription fee, with redemption fees of 1.5% within 7 days, 0% after 7 days, and a sales service fee of 0.3%.

Risk reminder: The Chuangtou Leading ETF passively tracks the CSI Tech Innovation and Entrepreneurship 50 Index, which was launched on December 31, 2019, and published on June 1, 2021. The index’s annual gains/losses from 2020-2024 are: 86.90%, 0.37%, -28.32%, -18.83%, 13.63%. Its constituent adjustments follow the index rules; past performance does not predict future results. The stocks mentioned are for illustration only and do not constitute investment advice or reflect the holdings or trading activities of any fund managed by the issuer. The risk level of the ETF is rated R4—medium-high risk, suitable for active investors (C4 and above). All investment decisions are at investors’ own risk. The information in this article (including stocks, comments, forecasts, charts, indicators, theories, etc.) is for reference only. The fund’s past performance does not guarantee future results. The fund manager’s assessment of risk level is for reference only. The content does not constitute investment advice. Fund investments involve risks; past performance is not indicative of future results.