Changjiang Securities Co Ltd: Navigating a Surge in Chip‑Related ETF Activity

On November 5, 2025, market observers noted a significant inflow of capital into the chip‑focused exchange‑traded fund 512760. Over five consecutive trading days, the ETF attracted net inflows exceeding 400 million CNY, a trend that signals growing investor confidence in the semiconductor sector. While the ETF itself does not list Changjiang Securities, the brokerage’s coverage of the event underscores the firm’s active role in capital markets, particularly its brokerage and investment banking services.

How Changjiang Securities is positioned

  • Capital‑market expertise: The firm offers a broad suite of services, including securities brokerage, asset management, fixed‑income and equity investment, and investment banking. Its diversified offerings enable it to support both retail and institutional investors, especially in high‑growth sectors such as technology and semiconductors.
  • Futures and fund management: Changjiang’s involvement in futures trading and fund management further diversifies its revenue streams and deepens its market reach. These capabilities are particularly valuable when navigating the volatility that can accompany rapid technology cycles.
  • Recent market activity: The firm’s recent comment on the GTC2025 conference—where NVIDIA unveiled next‑generation GPU architectures—demonstrates its engagement with cutting‑edge technology developments. By providing timely insights on events like NVIDIA’s Blackwell and Rubin GPU releases, Changjiang positions itself as a go‑to source for investors seeking exposure to the semiconductor supply chain.

Market context for the semiconductor boom

NVIDIA’s announcement at GTC2025 highlighted two major architectural breakthroughs: the Rubin NVL144 and the forthcoming Rubin Ultra576. According to the firm’s analysis, the Rubin NVL144 offers a performance increase of roughly 3.3‑times over its predecessor, while the Rubin Ultra576 is projected to deliver a 14‑fold improvement. These innovations are expected to accelerate the adoption of AI and high‑performance computing workloads, directly influencing the demand for semiconductor components.

The Vera Rubin Superchip, featuring an 88‑core ARM CPU, dual Rubin GPUs, and 2 TB of memory, aims to achieve an unprecedented 100 PFLOPS of compute power. Alongside the CPX computation board, designed for large‑token context acceleration, the technology promises to reshape the landscape of large‑model inference. NVIDIA’s forecast that GPU sales will exceed 500 billion CNY over the next five quarters further underscores the sector’s growth trajectory.

Implications for Changjiang Securities

  • Brokerage demand: As investors seek to capitalize on semiconductor gains, brokerage volume is likely to rise. Changjiang’s established network of retail and institutional clients positions it to capture a share of this uptick.
  • Asset‑management opportunities: With a growing appetite for technology ETFs and thematic funds, Changjiang’s asset‑management division can tailor products that focus on semiconductor exposure, potentially boosting assets under management.
  • Investment banking prospects: Companies in the semiconductor chain may pursue IPOs or secondary offerings to fund R&D and expansion. Changjiang’s investment banking arm is well‑placed to advise on such transactions, leveraging its industry knowledge and client base.

Company fundamentals

  • Market cap: 47.78 billion CNY
  • PE ratio: 12.95, indicating moderate valuation relative to earnings
  • Stock price: 8.63 CNY on 2025‑11‑03, within a 52‑week range of 5.73 – 9.27 CNY

The firm’s solid valuation metrics suggest a resilient business model amid market swings. Its diversified revenue streams across brokerage, asset management, and investment banking provide a buffer against sector‑specific downturns, while its active engagement with emerging technologies keeps it aligned with investor interests.

Forward‑looking outlook

Changjiang Securities is poised to benefit from the continued acceleration of the semiconductor industry, driven by AI, edge computing, and high‑performance computing demands. By maintaining its focus on capital‑market services and expanding its product offerings to reflect the sector’s evolution, the company can sustain growth and deliver value to shareholders.