On the morning of August 25th, the three major A-share indices collectively rose. The Shanghai Composite Index gained 0.63% intraday, with sectors like communications, electronics, and non-ferrous metals leading the gains, while banks and petroleum & petrochemicals lagged. Chip technology stocks continued to strengthen. As of 9:31 AM, the Chip ETF (159995.SZ) was up 3.63%. Its constituent stocks included Cambricon (up 9.48%), ACM Research Shanghai (up 7.74%), Hygon Information (up 7.45%), GigaDevice (up 5.71%), and Rockchip (up 4.57%).

According to data from the US Semiconductor Industry Association (SIA), global semiconductor sales in June 2025 reached approximately $59.9 billion, a year-on-year increase of 19.6%, marking 20 consecutive months of year-on-year growth, and a month-on-month increase of 1.5%. Semiconductor industry sales in China for June 2025 were $17.2 billion, up 13.1% year-on-year, also achieving 20 consecutive months of year-on-year growth, with a month-on-month increase of 0.8%.

A Tianfeng Securities research report pointed out that, overall for 2025, the global semiconductor industry continues its optimistic growth trajectory, driven by AI downstream demand. Meanwhile, policies addressing supply chain disruption and restructuring risks are continuously escalating, and domestic substitution is steadily advancing. Company performance forecasts for Q2 across various segments are strong. Looking ahead to the semiconductor peak season in Q3, it is recommended to focus on the performance elasticity in memory/power/foundry/ASIC/SoC, as well as domestic substitution in equipment, materials, and computing power chips.

Information shows that the Chip ETF (159995) tracks the CNI Chip Index. Its 30 constituent stocks comprise leading companies in the A-share chip industry across materials, equipment, design, manufacturing, packaging, and testing, including SMIC, Cambricon, JCET, NAURA, etc. Its off-site feeder funds are: Class A: 008887; Class C: 008888.