On Friday (September 4th), the fintech sector bucked the broader market trend with widespread gains, as the 金融科技 segment saw significant strength. Trading activity in the Fintech ETF Huabao (159851) surged notably, with the underlying index closing up 2.4%. Among individual names, 楚天龙 locked in its seventh limit-up in 11 sessions, 翠微股份 hit the daily limit, 四方精创 and 英方软件 each surged over 12%, while 恒宝股份, 拉卡拉, 科蓝软件, 凌志软件, and 宇信软件 all advanced more than 5%.

When combined with recent market dynamics and capital flows, we believe the fintech sector is seeing a convergence of multiple positive catalysts. At this point in time, it is worth reassessing its allocation value through a structural lens. Specifically, the sector is forming a three-dimensional resonance pattern of "theme succession—AI enablement—oversold repair."

First, the digital economy theme continues to heat up with smooth internal succession. Within the high-profile leadership camp, 楚天龙 has delivered a powerful 11-day, 7-limit-up run, with 恒宝股份 and 翠微股份 closely following, creating an orderly relay. No clear divergence has emerged within the sector, as capital rotates efficiently across sub-segments, and the wealth effect is spreading to second-tier names. This reflects both the sustainability of the theme and the depth of capital involvement, suggesting that short-term momentum has a foundation for further expansion.

Second, expectations for "AI + Finance" commercialization are rising, potentially serving as the next phase of catalysts. The recent successful launch of the country's first AI-produced long-form drama marks a shift for AI applications from technical validation into the stage of large-scale commercial deployment. As one of the most directly empowered application scenarios with the most solid data foundations, fintech has vast room for penetration growth in areas such as intelligent investment research, risk control modeling, and automated operations. It is well-positioned to capture outsized elasticity amid the broader wave of AI application diffusion.

Third, the momentum for valuation repair after a steep decline is building. As of September 3, 2026, the fintech index had fallen nearly 24% year-to-date, with both the duration and magnitude of the correction proving substantial, and valuations have now retreated significantly. As rotation continues across the broader market, attention from capital is returning toward low-valuation, high-beta sectors. The potential energy for an oversold bounce may be entering an accumulation phase—once sentiment reverses, its upward elasticity deserves close attention.

Chen Jianhua, the fund manager of the Fintech ETF Huabao (159851), recently noted that the fintech index has reclaimed its 60-day moving average for the first time in 2026, and intra-sector linkage has strengthened. The orderly relay among the digital economy's high-profile leaders, coupled with unusual capital movements, could signal impending catalysts. The sector's severe year-to-date decline leaves it with strong catch-up demand relative to other tech indices. With a technical breakout combined with a valuation trough, the fintech sector offers both a margin of safety and offensive elasticity. Investors are advised to watch for pullback opportunities and capture swing trading potential.

As an investment vehicle, the Fintech ETF Huabao (159851) and its feeder funds (Class A: 013477, Class C: 013478) provide exposure to a benchmark heavily weighted in computer and non-bank financial stocks, covering hot themes such as internet brokerages, fintech IT, cross-border payments, and AI applications—blending financial cyclicality with tech growth attributes.

Data sources: Shanghai and Shenzhen stock exchanges, Wind, etc. Please note: market volatility may be significant in the near term, and short-term gains or losses do not predict future performance. Investors should make rational decisions based on their own capital positions and risk tolerance, with close attention to position sizing and risk management.

Fee disclosures for ETF funds: When subscribing or redeeming fund shares, the authorized agency may charge a commission of up to 0.5%. On-exchange trading fees are subject to the actual rates charged by securities firms; no sales service fee is levied.

Fee disclosures for feeder funds: For the Huabao CSI Fintech Theme ETF Feeder Fund Class A, the subscription fee is 1.00% for amounts under 1 million yuan, 0.60% for amounts from 1 million (inclusive) to 2 million yuan, and 1,000 yuan per transaction for amounts of 2 million yuan (inclusive) or more. The redemption fee is 1.50% for holdings under 7 days, 0.50% for holdings from 7 days (inclusive) to 30 days, and 0.00% for holdings of 30 days (inclusive) or more. No sales service fee is charged. For Class C, no subscription fee applies; the redemption fee is 1.50% for holdings under 7 days and 0.00% for holdings of 7 days (inclusive) or more. The sales service fee is 0.30% per annum.

Risk warnings: The Fintech ETF Huabao passively tracks the CSI Fintech Theme Index, whose base date is June 30, 2014, and publication date is June 22, 2017. The index's historical annual returns for 2021–2025 were 7.16%, -21.40%, 10.03%, 31.54%, and 18.04%, respectively, with corresponding annualized volatility of 24.92%, 29.41%, 27.07%, 53.47%, and 34.54%. Index constituent stocks are adjusted periodically according to the index compilation rules, and backtested historical performance does not indicate future index performance. The constituent stocks mentioned in this article are shown for illustration purposes only, and any individual stock description does not constitute investment advice of any form, nor does it represent the holdings or trading activities of any fund under the fund manager's management. The fund manager assesses this fund's risk level as R3—medium risk, suitable for balanced (C3) and above investors. Any information presented in this article (including but not limited to stocks, commentary, forecasts, charts, indicators, theories, or any form of expression) is for reference only, and investors bear full responsibility for their own independent investment decisions. Furthermore, any views, analyses, or forecasts within this article do not constitute investment advice to readers, nor do they assume any liability for direct or indirect losses arising from the use of the content herein. Fund investment carries risks. Past performance of a fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. Please invest in funds with caution.

The MACD golden cross signal has formed, and these stocks are showing strong momentum!