On September 18, the GEM hashrate ETF Huaxia performed well. By the close, it had surged 2.11%, with a turnover of 211 million yuan. Trading sentiment was high. The ETF tracks the GEM Computing Power Infrastructure Index, and constituent stocks such as Zhongliante Technology, Mingyang Circuit, and Ketai Power had the highest gains. According to the news, the resurgence of overseas computing power rental prices has become the core catalyst. European computing power cloud manufacturer Nebius announced a full increase in on-demand GPU rents starting October 1. This is the second price increase in the year. The H100, B200, and B300 increased by about 17%, 19%, and 21%, respectively. Zheshang Securities pointed out that the overall price increase of 17%-21% in Nebius in this round means that the marginal retail price system is moving up at the same time — on-demand price is the most direct pricing anchor for new signings and small to medium customers, and its increase is more indicative of the price center of the industry. The three lines of overseas pay-as-you-go price, overseas long-term contract price, and domestic contract price are rising at the same time, and domestic “cardholder” companies are directly benefiting from the rise in the price center. Guosheng Securities believes that China's computing power market has reached 835.1 billion yuan in 2025, and is expected to be close to 2 trillion yuan in 2030. Combined with the total capital expenditure of domestic cloud vendors, operators, and Internet companies exceeding trillion yuan, the upstream and downstream computing power industry chains are expected to usher in a continuous boom. Under the dual support of national-level strategic positioning and trillion-level market space, the long-term allocation value of computing power infrastructure is prominent. GEM Computing Power ETF Huaxia tracks the GEM Computing Infrastructure Index, focusing on core computing power aspects such as data center construction and operation, computing power leasing, and liquid-cooled servers. The index's “data center” concept content reached 91.03%, the highest in the market. The computing power leasing concept content was 38.84%. The constituent stocks covered core computing infrastructure targets such as Co-Creation Data, Runze Technology, and Guanghuan New Network. As of September 18, the index's latest price-earnings ratio was 54.25 times, at the 5.02% quartile for the past 10 years, and the valuation was in a historically low range. For investors who are optimistic about computing power, please check out the GEM Hashing ETF Huaxia.

On September 18, the GEM hashrate ETF Huaxia performed well. By the close, it had surged 2.11%, with a turnover of 211 million yuan. Trading sentiment was high. The ETF tracks the GEM Computing Power Infrastructure Index, and constituent stocks such as Zhongliante Technology, Mingyang Circuit, and Ketai Power had the highest gains. According to the news, the resurgence of overseas computing power rental prices has become the core catalyst. European computing power cloud manufacturer Nebius announced a full increase in on-demand GPU rents starting October 1. This is the second price increase in the year. The H100, B200, and B300 increased by about 17%, 19%, and 21%, respectively. Zheshang Securities pointed out that the overall price increase of 17%-21% in Nebius in this round means that the marginal retail price system is moving up at the same time — on-demand price is the most direct pricing anchor for new signings and small to medium customers, and its increase is more indicative of the price center of the industry. The three lines of overseas on-demand price, overseas long-term contract price, and domestic contract price went up at the same time, and domestic “cardholder” companies directly benefited from the rise in the price center. Guosheng Securities believes that China's computing power market has reached 835.1 billion yuan in 2025, and is expected to be close to 2 trillion yuan in 2030. Combined with the total capital expenditure of domestic cloud vendors, operators, and Internet companies exceeding trillion yuan, the upstream and downstream computing power industry chains are expected to usher in a continuous boom. Under the dual support of national-level strategic positioning and trillion-level market space, the long-term allocation value of computing power infrastructure is prominent. GEM Computing Power ETF Huaxia tracks the GEM Computing Infrastructure Index, focusing on core computing power aspects such as data center construction and operation, computing power leasing, and liquid-cooled servers. The index's “data center” concept content reached 91.03%, the highest in the market. The computing power leasing concept content was 38.84%. The constituent stocks covered core computing infrastructure targets such as Co-Creation Data, Runze Technology, and Guanghuan New Network. As of September 18, the index's latest price-earnings ratio was 54.25 times, at the 5.02% quartile for the past 10 years, and the valuation was in a historically low range. For investors who are optimistic about computing power, please check out the GEM Hashing ETF Huaxia.